Konecranes has received insurance indemnity of EUR 10 million

On August 14, 2015, Konecranes announced that one of its foreign subsidiaries had become a victim of a fraud. The perpetrators had through identity theft and other fraudulent actions managed to induce the subsidiary to make unwarranted payments in a total amount of up to EUR 17 million. This amount was booked as a non-recurring cost in the third quarter of 2015.
 

Konecranes has now received an insurance indemnity of EUR 10 million, which was the maximum sum insured. Konecranes will book the insurance indemnity as an adjustment item to its result for the second quarter of 2016.
 

The insurance indemnity will not have an impact on the 2016 financial guidance previously published by Konecranes.


KONECRANES PLC

Miikka Kinnunen
Director, Investor Relations

 

FURTHER INFORMATION
Miikka Kinnunen, Director, Investor Relations, Konecranes Plc, tel. +358 20 427 2050

Konecranes is a world-leading group of Lifting Businesses™, serving a broad range of customers, including manufacturing and process industries, shipyards, ports and terminals. Konecranes provides productivity-enhancing lifting solutions as well as services for lifting equipment and machine tools of all makes. In 2015, Group sales totaled EUR 2,126 million. The Group has 11,600 employees at 600 locations in 48 countries. Konecranes is listed on Nasdaq Helsinki (symbol: KCR1V).



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