2025 highlights
Report of the Board of Directors
Sustainability statement
Konecranes Group 2021–2025
Calculation of key figures
Financial Statements
Consolidated statement of income – IFRS
Consolidated balance sheet – IFRS
Consolidated statement of changes in equity – IFRS
Consolidated cash flow statement – IFRS
Notes to the consolidated financial statements
Parent company statement of income – FAS
Parent company balance sheet – FAS
Parent company cash flow – FAS
Notes to the parent company’s Financial Statement
Board of Directors’ proposal to the Annual General Meeting
Auditor’s report
Assurance report on the Sustainability Statement
Independent Auditor’s Report on Konecranes Plc’s
ESEF Consolidated Financial Statements
Company information for ESEF reporting
Shares and shareholders
FINANCIAL REVIEW 2025
Contents
37
38
51
125
126
128
129
130
131
132
181
182
183
184
186
187
191
193
195
196
36
Sales & order intake, MEUR
Comparable EBITA, MEUR & Comparable EBITA margin, %
Earnings & dividend per share, EUR
2021 2022 2023 2024 2025
Sales Order intake
0
1,000
2,000
3,000
4,000
5,000
3,365
4,228
3,966
4,161
4,227 4,188
4,000
4,389
3,186
3,447
0
200
400
600
800
2021 2022 2023 2024 2025
Comparable EBITA
Comparable EBITA margin
0
8
4
12
16
312
9.8%
318
9.5%
451
11.4%
552
588
13.1%
14.0%
0
1.0
2.0
3.0
4.0
5.0
6.0
Earnings & dividend per share, EUR
2021 2022 2023 2024 2025
Earnings per share, basic Dividend per share
1.86
1.77
1.25 1.25
3.48
1.35
4.65
5.05
1.65
2.25*
2025 highlights
Order book, MEUR
0
1,000
2,000
3,000
4,000
2021 2022 2023 2024 2025
2,037
2,902
3,041
2,888
2,988
ROCE & Comparable ROCE, %
0
5
10
15
20
25
2021
2022
2023 2024 2025
Return on capital employed
Comparable return on capital employed
9.3
13.4
9.0
13.4
16.4
17.7
20.3
20.8
20.7
22.1
Net debt, MEUR & Gearing, %*
-300
0
300
600
900
1,200
1,500
2021 2022 2023 2024 2025
Net debt
542
39.8%
688
48.0%
366
22.9%
9.9%
-7.8%
50
40
30
20
10
-10
0
Gearing
184
-163
* At year end
*The Board’s proposal to the AGM
37
Corporate Governance Statement 2025
Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Report of the Board of Directors
KONECRANES IN 2025
Year 2025 was strong for Konecranes. Despite the uncertainty
related to geopolitics, the company continued its decisive
strategy execution and solid performance throughout the
year and continued to benefit from its global business model.
Konecranes’ sales amounted to EUR 4.2 billion in 2025, and
orders increased to EUR 4.4 billion. Profitability improved
compared to the previous year and was supported by good
execution and cost management. The comparable EBITA
reached EUR 588 million and the comparable EBITA margin
was 14.0%, the highest annual margin ever. Konecranes was
also net debt free at the end of the year, providing a good
basis for future growth and long-term value creation.
Market leader in the industry
Konecranes is a global leader in material handling
solutions, serving a broad range of customers across
multiple industries. The company consistently sets the
industry benchmark, from everyday improvements to the
breakthroughs at moments that matter most, and is trusted
every day to lift, handle and move what the world needs.
Konecranes’ purpose is to shape next-generation material
handling for a smarter, safer and better world.
The world is facing the challenge of providing materials and
goods that are essential for people, while preserving scarce
resources and limiting emissions. As an industry leader,
Konecranes is perfectly positioned to meet this challenge: the
company supports its customers’ operations with innovative
solutions that enhance their productivity, lower their emissions
and drive their business forward. Konecranes maintains the
largest patent portfolio in its industry and creates value for
its customers during the material handling solutions’ whole
lifetime by providing both the equipment and lifetime care.
Industrial Service provides industry-leading maintenance
services for all types and makes of industrial cranes and
hoists. Konecranes has an unparalleled global service
network, with an objective to improve the safety, productivity
and sustainability of customers’ operations. Konecranes
takes a comprehensive, systematic and collaborative
approach to managing customer assets through Lifecycle
Services; connecting data, machines and people to deliver
a digitally enabled customer experience in real time and to
maximize uptime and minimize downtime.
Industrial Equipment provides hoists, cranes and material
handling solutions from general manufacturing to various
kinds of process industries, and Konecranes is a global leader
in sustainable lifting solutions covering a full range of industrial
applications. The company’s deep industry knowledge is built
into every product which has quality at the core. Konecranes
designs and manufactures the key crane components (“Core
of Lifting”) in-house, to function flawlessly in the specific lifting
applications of customers’ industries.
Port Solutions provides lifting equipment and solutions, as
well as services, to container terminals, intermodal terminals,
shipyards and bulk terminals. Konecranes’ container handling
offering is the widest and deepest in the industry, and it
offers a full range of manned and fully automated container
yard cranes and automated guided vehicles, mobile harbor
cranes, manned and fully automated straddle carriers, and
heavy-duty lift trucks. It also provides a complete array of
shipyard cranes and Terminal Operating System (TOS) and
Equipment Control System (ECS) software, optimizing the
operations of entire container terminals.
Global demand driving Konecranes’ growth and
innovation
Demand for Konecranes’ products and services is influenced
by market conditions in the manufacturing and container
handling industries. Customers typically invest in new
equipment to expand capacity or replace old machinery.
Investments can be cyclical and vary across industries.
Konecranes sees growth opportunities arising from the
38
Corporate Governance Statement 2025
Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
demand for higher productivity, safety and environmental
sustainability.
The vast majority of Konecranes’ customers are in industrial
production sectors, including general manufacturing, metals,
power generation, petrochemicals, and pulp and paper. In
general, their need for services and new equipment is tied to
production volume and capacity utilization. The remaining
are container ports and terminals, where investments are
linked to global trade and container volumes.
Konecranes‘ operations are international, with products
manufactured in the Americas, EMEA, and APAC, and sold
worldwide. The company’s operations span across the world
with presence in over 50 countries. The global reach allows
Konecranes to offer the benefits of an industry leader while
delivering extensive local presence and service capabilities.
Megatrends driving Konecranes’ business
Sustainability, digitalization and automatization, and
geopolitics are the key megatrends that shape Konecranes’
markets and provide business opportunities.
In Konecranes’ customer industries, ambitions for
decarbonization have increased. Konecranes supports this
development by offering solutions for its customers that
combine productivity with reducing emissions. The extensive
service offering lengthens the lifecycle of the equipment
and supports circular economy. Safety is incorporated
into the design, construction, maintenance and service of
Konecranes’ products.
Digitalization is accelerating within the industries Konecranes
provides solutions to, and customers increasingly explore
digital solutions to enhance productivity, safety and
sustainability. Konecranes is a technology leader in material
handling, developing smart, connected products and
autonomous solutions, and harnessing the advantages
of the company’s purpose-built componentry, technical
knowledge and digitalization. The extensive digital offering
supports Konecranes’ position as the supplier of choice,
while also providing data that supports in perfecting
offerings such as predictive maintenance. Konecranes
applies industry best practices within cybersecurity to
provide safe and secure digital solutions to customers.
Geopolitical events might create disruptions in the global
operating environment as seen in supply chain challenges,
rising energy costs and inflation. Also, the increased
protectionism over the past few years has been reflected
in Konecranes’ and its customers’ operating environment.
Konecranes’ diversified portfolio and global presence
provide stability and resilience against volatility in the
operating environment. On the other hand, changing supply
chains and trade routes may increase the global demand
for material handling solutions and services and therefore,
provide opportunities for Konecranes.
Business targets
Konecranes’ ambition is to become the world leader in
material handling solutions, creating value for everyone. The
company has set the following financial targets:
• sales growth faster than the market
1
, and
• a comparable EBITA margin of 13-16% as soon as possible
but no later than in 2029
2
.
The financial targets for the Business Areas are the following:
Industrial Service:
• Sales growth clearly faster than the market
• Comparable EBITA margin of 21-25%
Industrial Equipment:
• Sales growth in line with the market
• Comparable EBITA margin of 8-11%
Port Solutions:
• Sales growth clearly faster than the market
• Comparable EBITA margin of 9-11%
Additionally, Konecranes has set ambitious science-based
climate targets, which it aims to reach by 2030. Konecranes
targets a 60% emissions reduction of absolute greenhouse
gas (GHG) emissions in its own operations (Scope 1 and
Scope 2) compared to base year 2019. For value-chain
emissions (Scope 3), Konecranes targets a 50% absolute
GHG emission reduction from purchased goods and
services and the use of sold products compared to base
year 2019.
The decarbonization levers in Konecranes’ climate roadmap
are electrified product offering and customer industries’
electrification, steel industry decarbonization, energy market
decarbonization, material handling optimization and carbon
neutral own operations.
Konecranes’ strategy
Konecranes aims to become the global leader in material
handling solutions and as part of its strategy, focuses on
• Profitable and high growth offerings and geographies
• Leveraging technology leadership through automated and
digital solutions
• Markets and segments that appreciate the added value of
the company’s offering
• Pricing, cost management and internal efficiency
• Operating model with clear authorization and
accountability
The company has set clear strategies for each of its
Business Areas. In Industrial Service, Konecranes targets
at topline growth through agreement base expansion and
bolt-on M&A. In Industrial Equipment, focus is mainly on
profitability improvement and continuation of portfolio
1) nominal world GDP growth, IMF World Economic Outlook
2) profitability range, depending on the cycle
39
Corporate Governance Statement 2025
Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
renewal and business model simplification. In Port
Solutions, focus is both on sales growth and profitability
improvement through focusing on core offering and service
growth and capturing automation and electrification
opportunities.
In order to generate growth and improve profitability,
Konecranes has outlined five strategic enablers that are
critical for the company’s future success:
• Deepening customer focus – Konecranes places the
needs and expectations of customers at the heart of the
decision-making every day.
• Accelerating efficiency - Konecranes continuously
optimizes operations and its go-to-market model,
building resilience, driving efficiency and enhancing
productivity.
• Scaling technology innovation – Konecranes is a
technology leader in material handling, developing
smart, connected products and autonomous solutions,
leveraging the advantages of its purpose-built
componentry, technical knowledge and digitalization.
• Advancing responsible business – Konecranes is enabling
a decarbonized and circular world by embedding
sustainability across its business and supporting
customers in reaching their targets. Konecranes is creating
a fair, inclusive and diverse working environment where
everyone is treated with respect and expects the highest
ethical standards of its employees and business partners.
• Enhancing our winning culture – Konecranes is creating an
organization where working together comes naturally and
people are inspired to be the best they can be.
Key intangible resources supporting Konecranes’
business model
Konecranes is an industry leader, with over 100 years of
experience in producing and servicing material handling
solutions. Key intangible resources supporting Konecranes’
business model include for example patents and trademarks,
software, technology and customer lists, as well as
experience in the industry.
Konecranes has a dual go-to-market model and sells
products to customers under different brands and
trademarks. Within industrial customer segments,
Konecranes-branded products are sold directly to end-
customers, whereas Demag, SWF, Verlinde, R&M and
Donati branded products are sold to distributors and
Original Equipment Manufacturers. Within port customers,
Konecranes sells products with the Konecranes,
Konecranes Gottwald, Konecranes Noell and Konecranes
Liftace brands.
The diverse trademark and brand portfolio results from
Konecranes’ active M&A history. As the acquired brands have
had established and strong positions among customers in
certain products, geographies and regions, Konecranes has
decided to maintain the multi-brand approach. The strong
brand portfolio supports demand for Konecranes’ offering,
although the product platforms for different brands have
been largely harmonized.
Technology leadership is a key to Konecranes’ success, and
the company owns the largest patent portfolio in its industry.
Konecranes designs and produces its key components
largely in-house, and they are specifically designed and
optimized for lifting and material-handling purposes. The
patented technology provides a competitive advantage,
as Konecranes’ products and solutions are known for their
durability and optimized performance.
Throughout its history, Konecranes has invested in
technology and software development. When designing
new products, or upgrading the current ones, usability,
productivity, sustainability and serviceability are key
elements. The company’s service capability builds on
decades of experience and know-how, and millions of hours
of utilization data.
TRUCONNECT
One of the cornerstones of Konecranes’ maintenance
ecosystem is TRUCONNECT, a remote monitoring system
that provides important real-time data about material
handling equipment’s and solutions’ condition, usage and
operation. TRUCONNECT uses sensors on various crane
components to gather critical data, including running
time, lifted loads, emergency stops and brake condition.
The data is sent to a real-time IoT and analytics platform
from which insights can be gathered. These insights
enable Konecranes experts and crane owners to foresee
maintenance needs so the performance of the equipment
can be optimized and its lifespan prolonged. Monitoring
with TRUCONNECT is not limited to only Konecranes assets,
it can be added to cranes made by other manufacturers
when possible.
TRUCONNECT data can be utilized when the equipment
is being serviced and maintained. Based on advanced
predictive maintenance models, Konecranes receives
forecasts on potential faults and replacement needs, and
sales teams can then contact the customer to discuss
recommended actions. TRUCONNECT provides also
valuable data on how actively Konecranes’ products in
different customer segments and regions are being used,
giving good insight to equipment utilization and demand
environment.
SLIM application
Another example of software supporting Konecranes’
business model is the SLIM application, which Konecranes’
service technicians use while performing their work. SLIM
(“Siebel Light In Mobile”), is a mobility tool developed for
Konecranes’ field operatives. It is an application which
works online, or offline with synchronization, and allows field
operatives - service technicians or certified inspectors -
to review service requests and then record their work on
their smartphone and review it with the customer. Their
daily schedule and customer information is also available
in the SLIM app, and implementing the app has saved
40
Corporate Governance Statement 2025
Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
hours of back-office work and increased field operatives’
productivity.
One of the key success elements for Konecranes’ service
business is access to installed base, i.e. data of industrial
crane and material handling solution fleet at customer
sites. When acquiring crane service companies, access to
customer lists and potential legacy equipment drawings are
usually some of the key deal logics. The installed base data
allows Konecranes to target customers more effectively.
Information about the installed base is not only limited to
service opportunity, as equipment sales also benefit from it.
MARKET REVIEW
Konecranes’ operating environment in Industrial Service
and Industrial Equipment is mainly driven by industrial
production. Manufacturing Purchasing Managers’ Index
(PMI) and manufacturing capacity utilization rates are
the macro-indicators that best describe the operating
conditions of the two industrial Business Areas. In Port
Solutions, the operating environment is mainly driven by
global container traffic.
The global manufacturing PMI was 50.4 at the end of the
fourth quarter – slightly above the neutral 50-mark.
In the Eurozone, the manufacturing PMI signaled worsening
operating conditions at the end of the fourth quarter (48.8).
In the US, the manufacturing PMI signaled expansion at the
end of the fourth quarter (51.8). In the emerging markets,
December manufacturing PMI signaled improvement in India
and China, and worsening operating conditions in Brazil.
In the fourth quarter, the manufacturing industry capacity
utilization rate in the European Union was higher compared
to a year ago. The manufacturing industry capacity utilization
rate in the US was higher compared to a year ago.
According to the RWI/ISL Container Throughput Index,
global container throughput continued at a strong level in
2025 compared to the historical readings. At the end of
November, global container throughput was approximately
three percent higher than the year before.
At the end of the fourth quarter, steel prices were below the
previous year’s levels while copper prices were at a higher
level. The average EUR/USD exchange rate in 2025 was four
percent higher compared to the previous year.
41
Corporate Governance Statement 2025
Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
FINANCIAL PERFORMANCE
Unless otherwise stated, the figures in brackets in the
sections below refer to the same period in the previous year.
Orders received
In 2025, orders received totaled EUR 4,389.3 million (3,999.6),
representing an increase of 9.7 percent. On a comparable
currency basis, order intake increased by 11.6 percent.
Orders received increased in the Americas and EMEA, but
decreased in APAC.
In Industrial Service, order intake increased by 0.1 percent
on a reported basis and by 2.9 percent on a comparable
currency basis. In Industrial Equipment, orders received
increased by 8.2 percent on a reported basis and by 10.8
percent on a comparable currency basis. External orders
received in Industrial Equipment increased by 8.7 percent
on a reported basis and by 11.3 percent on a comparable
currency basis. In Port Solutions, order intake increased by
21.3 percent on a reported basis and by 21.2 percent on a
comparable currency basis.
Order book
At the end of December, the value of the order book totaled
EUR 2,988.4 million (2,888.4), which was 3.5 percent higher
compared to the previous year. On a comparable currency
basis, the order book increased by 7.0 percent. The order
book decreased by 7.1 percent in Industrial Service, and
increased by 2.0 percent in Industrial Equipment and by 7.3
percent in Port Solutions.
Sales
In 2025, Group sales totaled EUR 4,187.8 million (4,227.0),
representing an decrease of 0.9 percent. On a comparable
currency basis, sales increased by 0.7 percent. Sales
decreased by 0.8 percent in Industrial Service, by 1.1 percent
in Industrial Equipment, and increased by 0.1 percent in Port
Solutions. Industrial Equipment’s external sales decreased
by 1.0 percent.
At the end of December, the regional breakdown of sales,
calculated on a rolling 12-month basis, was the following:
EMEA 51 (47), Americas 37 (40) and APAC 13 (13) percent.
Financial result
In 2025, the Group comparable EBITA increased to EUR 588.1
million (551.6). The comparable EBITA margin increased to
14.0 percent (13.1). The comparable EBITA margin increased in
Industrial Service to 21.8 percent (21.0), increased in Industrial
Equipment to 9.4 percent (9.0) and increased in Port
Solutions to 10.5 percent (9.3). The Group comparable EBITA
margin improvement was mainly due to good execution and
cost management.
In 2025, the consolidated comparable operating profit
increased to EUR 553.4 million (520.7). The comparable
operating margin increased to 13.2 percent (12.3).
In 2025, the consolidated operating profit totaled EUR 542.4
million (511.4). The operating profit includes items affecting
comparability of EUR 11.0 million (9.3). Year-on-year, the
operating margin increased in Industrial Service to 20.6 percent
(20.0), increased in Industrial Equipment to 8.6 percent (8.1)
and increased in Port Solutions to 9.4 percent (8.8).
In 2025, depreciation and impairments totaled EUR 136.4
million (120.5). The impact arising from the purchase price
allocation amortization and goodwill impairment represented
EUR 34.5 million (30.7) of the depreciation and impairments.
In 2025, the share of the result in associated companies and
joint ventures was EUR 0.9 million (0.6).
In 2025, financial income and expenses totaled EUR -26.7
million (-26.7). Net interest expenses accounted for EUR
24.8 million (23.1) of the sum and the remainder was mainly
attributable to other financing expenses and realized and
unrealized exchange rate differences related to the hedging
of future cash flows, which are not included in the hedge
accounting.
1-12/2025 1-12/2024 Change %
Change % at
comparable
currency rates
Orders received, MEUR 4,389.3 3,999.6 9.7 11.6
Net sales, MEUR 4,187.8 4,227.0 -0.9 0.7
Orders received and net sales
42
Corporate Governance Statement 2025
Remuneration Report
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
In 2025, profit before taxes was EUR 516.5 million (485.3).
In 2025, income tax was EUR 116.8 million (116.9). The Group’s
effective tax rate was 22.6 percent (24.1).
In 2025, net profit was EUR 399.8 million (368.4).
In 2025, the basic earnings per share were EUR 5.05 (4.65)
and the diluted earnings per share were EUR 5.03 (4.63).
On a rolling 12-month basis, return on capital employed was
20.7 percent (20.3) and return on equity 20.3 percent (21.3).
Comparable return on capital employed was 22.1 percent
(20.8).
Balance sheet
At the end of December, the consolidated balance sheet
amounted to EUR 4,550.8 million (4,788.3). The total equity
was EUR 2,087.4 million (1,857.7). The total equity attributable
to the equity holders of the parent company was EUR 2,087.4
million (1,857.7) translating into EUR 26.35 per share (23.45).
Net working capital totaled EUR 284.4 million (378.6). The
decrease in net working capital was mainly driven by lower
accounts receivable. Sequentially, net working capital
decreased by EUR 1.0 million.
Cash flow and financing
In 2025, net cash from operating activities was EUR 569.5
million (491.6) and the increase was mainly due to a change
in net working capital. Cash flow before financing activities
was EUR 527.5 million (380.6). This includes a cash inflow
of EUR 9.5 million (4.8) related to sale of property, plant
and equipment, EUR 0.9 million (0.1) related to disposal
of associated companies, EUR 0.2 million (0.0) related to
dividends received and cash outflows of EUR 49.4 million
(69.2) related to capital expenditures, and EUR 3.2 million
(46.7) related to the acquisition of Group companies.
At the end of December, interest-bearing net debt was EUR
-163.5 million (183.5). Decrease in net debt was mainly driven
by a strong cash flow from operating activities. The equity to
asset ratio was 53.8 percent (44.4) and gearing -7.8 percent
(9.9).
At the end of December, cash and cash equivalents
amounted to EUR 631.9 million (710.0). None of the Group’s
committed EUR 350 million back-up financing facility was
utilized at the end of the period.
In 2025, Konecranes paid EUR 130.7 million or EUR 1.65 per
share of dividends to its shareholders.
Capital expenditure
In 2025, capital expenditure excluding acquisitions and joint
arrangements amounted to EUR 68.5 million (65.7), consisting
mainly of investments in machinery and equipment, buildings,
office equipment and information technology.
Comparable EBITA by Segment, 2025 Personnel by Segment, 2025
55%
Industrial Service
341.5 MEUR
26%
Port Solutions
159.6 MEUR
19%
Industrial Equipment
120.0 MEUR
47%
Industrial Service
7,721
21%
Port Solutions
3,494
32%
Industrial Equipment
5,131
36%
Industrial Service
1,562.8 MEUR
35%
Port Solutions
1,523.4 MEUR
29%
Industrial Equipment
1,275.3 MEUR
Sales by Business Area, 2020
Sales by Segment, 2025
43
Corporate Governance Statement 2025
Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Acquisitions and divestments
In 2025, the cash impact of capital expenditure for
acquisitions and joint arrangements was EUR -3.2 million
(-46.7). The cash impact of disposal of associated
companies was EUR 0.9 million (0.1).
In 2025, Konecranes acquired Catalonia-based Polipastos y
Instalaciones MEG S.L. (PIMEG), which specializes in industrial
service. The company also sold its interest of its associated
companies Portwise B.V. in Netherlands and Fantuzzi Finland
Oy in Finland.
Personnel
In 2025, the Group had an average of 16,614 employees
(16,656). On December 31, 2025 the number of personnel was
16,469 (16,842). In 2025, the Group’s personnel decreased by
373 people net.
At the end of December, the number of personnel by
Business Area was the following: Industrial Service 7,721
employees (8,020), Industrial Equipment 5,131 employees
(5,289), Port Solutions 3,494 employees (3,420) and Group
staff 123 employees (113).
The Group had 9,953 (10,066) employees working in EMEA,
3,178 (3,415) in the Americas and 3,338 (3,361) in APAC.
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
In 2025, orders received totaled EUR 1,561.1 million (1,559.0),
corresponding to an increase of 0.1 percent. On a comparable
currency basis, orders received increased by 2.9 percent.
Sales decreased by 0.8 percent to EUR 1,562.8 million
(1,574.7). On a comparable currency basis, sales increased by
1.9 percent. Sales increased in parts and decreased in field
service.
The comparable EBITA was EUR 341.5 million (331.5) and
the comparable EBITA margin was 21.8 percent (21.0). The
increase in comparable EBITA margin was mainly driven
by pricing, execution and good cost management. The
operating profit was EUR 322.0 million (314.2) and the
operating margin 20.6 percent (20.0).
Industrial Service 1-12/2025 1-12/2024 Change %
Change %
at comparable
currency rates
Orders received, MEUR 1,561.1 1,559.0 0.1 2.9
Order book, MEUR 404.8 435.9 -7. 1 0.1
Agreement base value, MEUR 339.3 342.5 -0.9 4.4
Net sales, MEUR 1,562.8 1,574.7 -0.8 1.9
Comparable EBITA, MEUR
1
341.5 331.5 3.0
Comparable EBITA, %
1
21.8% 21.0%
Purchase price allocation amortization, MEUR -15.8 -16.6 -4.9
Items affecting comparability, MEUR -3.7 -0.7
Operating profit (EBIT), MEUR 322.0 314.2 2.5
Operating profit (EBIT), % 20.6% 20.0%
Personnel at the end of period 7,721 8,020 -3.7
Business Areas
Industrial Service
1
Excluding items affecting comparability and purchase price allocation amortization. See also note 11 in the summary financial statements
45
Corporate Governance Statement 2025
Remuneration Report
Risk Management
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
In 2025, orders received totaled EUR 1,367.6 million
(1,263.5), corresponding to an increase of 8.2 percent. On
a comparable currency basis, orders received increased
by 10.8 percent. External orders received increased by
8.7 percent on a reported basis and 11.3 percent on a
comparable currency basis. Order intake increased in
standard cranes, process cranes, and components.
Sales decreased by 1.1 percent to EUR 1,275.3 million
(1,289.3). On a comparable currency basis, sales increased
by 1.2 percent. External sales decreased by 1.0 percent
on a reported basis and increased by 1.4 percent on a
comparable currency basis. Sales increased in standard
cranes, remained approximately flat in components, and
decreased in process cranes.
The comparable EBITA was EUR 120.0 million (116.5) and the
comparable EBITA margin 9.4 percent (9.0). The increase
in comparable EBITA margin was mainly driven by good
execution and mix. The operating profit was EUR 110.1 million
(104.6) and the operating margin 8.6 percent (8.1).
Industrial Equipment 1-12/2025 1-12/2024 Change %
Change %
at comparable
currency rates
Orders received, MEUR 1,367.6 1,263.5 8.2 10.8
of which external, MEUR 1,266.5 1,165.6 8.7 11.3
Order book, MEUR 911.1 893.3 2.0 9.6
Net Sales, MEUR
1,275.3 1,289.3 -1.1 1.2
of which external, MEUR 1,193.2 1,205.5 -1.0 1.4
Comparable EBITA, MEUR
1
120.0 116.5 3. 1
Comparable EBITA, %
1
9.4% 9.0%
Purchase price allocation amortization, MEUR -6.9 -7.0 -0.3
Items affecting comparability, MEUR -2.9 -4.9
Operating profit (EBIT), MEUR 110.1 104.6
Operating Profit (EBIT), %
8.6% 8.1% 5.4
Personnel at the end of period 5,131 5,289 -3.0
Industrial Equipment
1
Excluding items affecting comparability and purchase price allocation amortization. See also note 11 in the summary financial statements
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Corporate Governance Statement 2025
Remuneration Report
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
In 2025, orders received totaled EUR 1,637.8 million (1,350.5),
corresponding to an increase of 21.3 percent. On a comparable
currency basis, orders received increased by 21.2 percent.
Sales increased by 0.1 percent to EUR 1,523.4 million (1,521.7). On
a comparable currency basis, sales remained approximately on
the same level.
The comparable EBITA was EUR 159.6 million (142.2) and the
comparable EBITA margin 10.5 percent (9.3). The increase
in comparable EBITA margin was driven by good execution
and mix. Operating profit was EUR 143.3 million (133.5) and the
operating margin 9.4 percent (8.8).
Port Solutions 1-12/2025 1-12/2024 Change %
Change %
at comparable
currency rates
Orders received, MEUR 1,637.8 1,350.5 21.3 21.2
Order book, MEUR 1,672.5 1,559.1 7.3 7.4
Net sales, MEUR 1,523.4 1,521.7 0.1 0.0
of which service, MEUR 304.6 278.2 9.5 11.0
Comparable EBITA, MEUR
1
159.6 142.2 12.2
Comparable EBITA, %
1
10.5 % 9.3 %
Purchase price allocation amortization, MEUR -12.0 -7.4 61.8
Items affecting comparability, MEUR -4.3 -1.3
Operating profit (EBIT), MEUR 143.3 133.5 7.4
Operating profit (EBIT), % 9.4 % 8.8 %
Personnel at the end of period 3,494 3,420 2.2
Port Solutions
1
Excluding items affecting comparability and purchase price allocation amortization. See also note 11 in the summary financial statements
47
Corporate Governance Statement 2025
Remuneration Report
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Group overheads
In 2025, the comparable unallocated Group overhead costs
and eliminations were EUR 33.0 million (38.5), representing
0.8 percent of sales (0.9).
The unallocated Group overhead costs and eliminations
were EUR 33.1 million (40.8), representing 0.8 percent of
sales (1.0). These included items affecting comparability of
EUR 0.1 million (2.3).
Administration
Decisions of the Annual General Meeting
The Annual General Meeting was held on March 27, 2025.
The meeting approved the Company’s annual accounts for
the fiscal year 2024, discharged the members of the Board
of Directors and the CEO from liability, and approved all
proposals made by the Board of Directors and its committees
and the Shareholders’ Nomination Board to the AGM.
The AGM approved the Board’s proposal that a dividend of
EUR 1.65 per share be distributed. The dividend was paid on 8
April 2025.
The AGM approved the Remuneration Report. The resolution by
the AGM on approval of the Remuneration report is advisory.
The AGM approved the Shareholders’ Nomination Board’s
proposal for the annual remuneration for the Board of
Directors and the meeting fees for the committees and
meetings of the Board of Directors.
The AGM approved the Shareholders’ Nomination Board’s
proposal that the number of members of the Board of
Directors shall be eight. The current Board members Pauli
Anttila, Pasi Laine, Ulf Liljedahl, Gun Nilsson, Sami Piittisjärvi,
Päivi Rekonen, Thomas Schulz and Birgit Seeger were
re-elected. Pasi Laine was elected as Chair of the Board of
Directors and Ulf Liljedahl was elected as Vice Chair of the
Board of Directors.
The AGM approved the Board’s proposal to amend the
Company’s Articles of Association.
The AGM approved the Board’s proposal that Ernst & Young
Oy be re-elected as the Company’s auditor for a term of office
expiring at the closing of the Annual General Meeting following
the election. In addition, the AGM approved the Board’s
proposal that Ernst & Young Oy will act as the sustainability
assurance provider of the Company. The remuneration for
the auditor and sustainability assurance provider will be paid
according to an invoice approved by the Company.
The AGM approved the Board’s proposal that Deloitte Oy
be elected as the Company’s auditor for a term of office
commencing at the closing of the Annual General Meeting
2026 and expiring at the closing of the Annual General Meeting
2027. In addition, the AGM approved the Board’s proposal that
Deloitte Oy will act as the sustainability assurance provider of
the Company for the term of office 2026. The remuneration for
the auditor and sustainability assurance provider will be paid
according to an invoice approved by the Company.
The AGM approved the Board’s proposal to amend the
Charter of the Shareholders’ Nomination Board.
The AGM authorized the Board to decide on the repurchase
and/or on the acceptance as pledge of the Company’s own
shares.
The AGM authorized the Board to decide on the issuance of
shares as well as on the issuance of special rights entitling to
shares.
The AGM authorized the Board to decide on the transfer of
the Company’s own shares.
The AGM authorized the Board to decide on a directed
issuance of shares without payment for an Employee Share
Savings Plan.
The AGM authorized the Board to decide on donations.
The resolutions of the AGM have been published in the stock
exchange release dated March 27, 2025.
Board of Directors
The Board of Directors elected in the Annual General Meeting
2025 consists of:
• Pasi Laine, Chair of the Board
• Ulf Liljedahl, Vice Chair of the Board
• Pauli Anttila, Member of the Board
• Gun Nilsson, Member of the Board
• Päivi Rekonen, Member of the Board
• Thomas Schulz, Member of the Board
• Birgit Seeger, Member of the Board
• Sami Piittisjärvi, Member of the Board
The term of office ends at the closing of the Annual General
Meeting in 2026.
On March 27, 2025, Konecranes announced that the
Board had held its first meeting. The Board decided to
continue with an Audit Committee and a Human Resources
Committee.
Ulf Liljedahl was elected Chair of the Audit Committee, and
Gun Nilsson, Päivi Rekonen and Birgit Seeger as Committee
members. Pasi Laine was elected Chair of the Human
Resources Committee, and Pauli Anttila and Thomas Schulz
as Committee members.
All Board members with the exception of Sami Piittisjärvi
are deemed to be independent of the Company and all
Board members with the exception of Pauli Anttila are
deemed to be independent of the Company’s significant
shareholders.
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Sami Piittisjärvi is deemed not to be independent of the
Company due to his current position as an employee of
Konecranes. Pauli Anttila is deemed not to be independent
of a significant shareholder of the Company as he acts as
Solidium’s Advisor.
Shareholders’ Nomination Board
On June 9, 2025, Konecranes announced the composition of
the Shareholders’ Nomination Board. On December 18, 2025,
the company announced a change in the composition of the
Shareholders’ Nomination Board as the member appointed by
Solidium Oy changed from Matts Rosenberg, CEO of Solidium
to Ulla Palmunen, General Counsel of Solidium.
As of December 18, 2025, the Shareholder’s Nomination
Board consists of the following members:
• Ulla Palmunen, General Counsel of Solidium, appointed by
Solidium Oy
• Annika Paasikivi, Executive Chair of Oras Invest, appointed
by Oras Invest Oy
• Markus Aho, Deputy CEO, Chief Investment Officer of Varma,
appointed by Varma Mutual Pension Insurance Company
• Esko Torsti, Head of Alternative Investments of Ilmarinen,
appointed by Ilmarinen Mutual Pension Insurance Company
Pasi Laine, the Chair of the Konecranes’ Board of Directors,
serves as an expert in the Nomination Board without being a
member.
Konecranes Leadership Team
At the end of 2025, Konecranes Leadership Team consisted of:
• Marko Tulokas, President and CEO (since June 1, 2025) and
Business Area President, Industrial Equipment
• Teo Ottola, CFO, Deputy CEO
• Fabio Fiorino, Business Area President, Industrial Service
• Tomas Myntti, Business Area President, Port Solutions
• Minna Aila, Executive Vice President, Corporate Affairs &
Brand
• Claes Erixon, Executive Vice President, Technologies
• Christine George, Executive Vice President, Corporate
Strategy & Business Development
• Anneli Karkovirta, Executive Vice President, People and
Culture
• Sirpa Poitsalo, Executive Vice President, General Counsel
On December 17, 2025, Konecranes announced that Minna
Aila, EVP, Corporate Affairs & Brand, and a member of the
Konecranes Leadership Team, will leave Konecranes to
pursue her career outside the company. She stepped down
from the Leadership Team as of December 31, 2025.
On November 5, 2025, Konecranes announced that Jussi
Rautiainen was appointed as Business Area President,
Industrial Equipment, and a member of the Konecranes
Leadership Team as of January 1, 2026.
On January 20, 2025, Konecranes announced that Anders
Svensson, President and CEO, will leave Konecranes to
pursue his career outside the company. On June 1, 2025,
Marko Tulokas started as President and CEO of Konecranes.
Shares and trading
Share capital and shares
On December 31, 2025, the company’s registered share
capital totaled EUR 30.1 million. On December 31, 2025,
the number of shares including treasury shares totaled
79,221,906.
Treasury shares
On December 31, 2025, Konecranes Plc was in possession
of 7,637 treasury shares, which corresponds to 0.0 percent
of the total number of shares, and which had on that date a
market value of EUR 0.7 million.
On January 2, 2025, 5,151 treasury shares were conveyed
without consideration as the reward payment to the key
employee, the President and CEO Anders Svensson,
participating in the Konecranes Restricted Share Unit Plan
2017. After the share delivery, Konecranes holds a total of
7,637 own shares.
Market capitalization and trading volume
The closing price for the Konecranes’ shares on the Nasdaq
Helsinki on December 31, 2025, was EUR 93.90. The volume-
weighted average share price in 2025 was EUR 68.88, the
highest price being EUR 94.20 in December and the lowest
EUR 47.78 in April. In 2025, the trading volume on the Nasdaq
Helsinki totaled 29.9 million, corresponding to a turnover of
approximately EUR 2,058.4 million. The average daily trading
volume was 119,529 shares representing an average daily
turnover of EUR 8.2 million.
On December 31, 2025, the total market capitalization of
Konecranes was EUR 7,438.9 million including treasury
shares. The market capitalization was EUR 7,438.2 million
excluding treasury shares.
Performance Share Plans 2023, 2024, 2025 and 2026
On December 17, 2025, Konecranes announced that
the Board of Directors had decided to establish a new
Performance Share Plan 2026 for Konecranes key
employees. The plan has a three-year performance
period from 2026 to 2028. The Plan has three performance
criteria: the cumulative comparable Earnings per Share
(EPS) for the financial years 2026-2028 with an 80 percent’s
weighting, the CO2 emissions from own operations
for the financial years 2026-2028 with a 10 percent’s
weighting and the Konecranes Eco Vadis score in 2028
with a 10 percent’s weighting. The targets for the three-
year performance period have also been decided by the
Board of Directors. The target group of the Plan consists of
approximately 170 Konecranes key employees. Additional
information, including essential terms and conditions of
the Plan, is available in the stock exchange release dated
December 17, 2025.
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Information, including essential terms and conditions
of the Performance Share Plan 2023, is available in the
stock exchange release published on February 1, 2023.
Information, including essential terms and conditions of
the Plan 2024 in the stock exchange release was published
on February 1, 2024. Information, including essential terms
and conditions of the Performance Share Plan 2025, is
available in the stock exchange release published on
February 6, 2025.
Employee Share Savings Plan
On December 17, 2025, Konecranes announced that the
Board of Directors had decided to launch a new Plan Period
relating to the Employee Share Savings Plan. The new Plan
Period will begin on July 1, 2026, and will end on June 30,
2027. The other terms and conditions approved by the Board
have been published in the stock exchange release dated
December 17, 2025.
Notifications of major shareholdings
In 2025, Konecranes did not receive notifications of major
shareholdings.
RESEARCH AND DEVELOPMENT
Konecranes is a technology leader in its industry, with
continued technological development and innovation
being key for future success. In its R&D efforts, Konecranes
focuses on producing tangible business benefits with
productivity-enhancing solutions and enhanced customer
experience.
Building on over a century of innovation, Konecranes’
product development also supports environmental
sustainability, safety and cybersecurity in the industry.
In 2025, Konecranes’ R&D expenditure amounted to
78.1 MEUR.
improving factory security in all regions, and focusing on the
security of Konecranes suppliers impacted by new product
security regulations in key regions such as the European
Union.
Use of Artificial intelligence (AI)
Artificial intelligence (AI) is rapidly changing the ways
companies operate. Konecranes has a strategic and
systematic approach to integrating AI across our business to
drive efficiency and new innovation.
Several AI-enabled improvements are already delivering
measurable results. In addition to building new customer
solutions, AI is utilized to boost productivity across multiple
functions and business operations. Cranes rely on advanced
software-based control systems, and AI has increased the
speed with which our software developers can work on them.
In service operations, technicians can now use AI-powered
app features to instantly access the right equipment manuals
on their mobile devices—saving time and improving service
accuracy and safety. Additionally, Konecranes is expanding
the use of AI capabilities across our existing business
applications. This increases the efficiency of employees’
day-to-day work and enables the development of new ways
of working.
To increase AI-awareness and competencies, Konecranes
initiated a phased learning program that focuses on
building AI literacy, to accelerate innovation whilst using
AI responsibly. Employees are encouraged to build
foundational AI skills, while technical teams deepen their
expertise through targeted learning opportunities. In
parallel, the company is reinforcing core enterprise AI
foundations—targeted AI competences, high-quality data
and governance, platforms and tools that underpin long term
advantage.
Reimagining material flow
Through Zero4, a research and innovation program
co-funded by Business Finland, Konecranes is co-creating
a unified material flow platform that seamlessly tracks,
orchestrates, visualizes and optimizes the flow of material
and intralogistics equipment fleets.
The level of ambition in the project necessitates a broad
network of expertise and since its launch in 2023, the program
ecosystem has grown to involve more than 90 partners,
working across a dozen projects. These projects tackle
information barriers, greenhouse gas emissions, energy
waste and safety incidents within material flow. One of the
projects that has advanced the furthest is MixedFleet, which
focuses on enhancing the collaboration between machines
and humans, accelerating the adoption of automation in
industrial settings. The project has advanced to the demo
stage at Konecranes’ Hyvinkää factory, with promising results
on effortless collaboration between automated overhead
cranes, automated guided vehicles and humans.
Cybersecurity is essential
Industrial manufacturing continues to be a sector highly
affected by cyber-attacks. Protecting customer data, building
a secure customer offering and safeguarding business
continuity remain top priorities for Konecranes. In 2025,
Konecranes launched a web-based cybersecurity assurance
center for customers to easily access information on our
cybersecurity practices. It also allows for reporting of security
incidents to Konecranes. Easily accessible and reassuring
information is important as customers, especially within critical
sectors such as defense, increasingly prioritize cybersecurity.
Konecranes’ dedication to cybersecurity is reflected in
the numerous certifications obtained, such as ISO 27001
for security management, IEC 62443 4-1 for product
development and the UK Cyber Essentials certification.
In 2025, Konecranes strengthened its own business
continuity by onboarding a threat intelligence service,
50
Corporate Governance Statement 2025
Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Sustainability Statement 2025
1. GENERAL INFORMATION 54
ESRS 2 General disclosures 54
Basis for preparation 54
Governance 54
Strategy 59
Impact, risk and opportunity management 67
2. ENVIRONMENTAL INFORMATION 74
Disclosures pursuant to Article 8 of Regulation 2020/852 (Taxonomy regulation) 74
E1 Climate change 79
E1-1 Transition plan for climate change mitigation 79
E1 SBM-3 Material climate-related impacts, risks and opportunities and
their interaction with strategy and business model 80
E1-2 Policies related to climate change mitigation and adaptation 81
E1-3 Actions and resources in relation to climate change policies 82
E1-4 Targets related to climate change mitigation and adaptation 83
E1-5 Energy consumption and mix 86
E1-6 Gross Scopes 1, 2, 3 and Total GHG emissions 87
E5 Resource use and circular economy 90
E5-1 Policies related to resource use and circular economy 90
E5-2 Actions and resources related to resource use and circular economy 90
E5-3 Targets related to resource use and circular economy 91
E5-5 Resource outflows 92
3. SOCIAL INFORMATION 92
S1 Own workforce 92
S1 SBM-3 Material own workforce-related impacts, risks and opportunities and
their interaction with strategy and business model 92
S1-1 Policies related to own workforce 93
S1-2 Processes for engaging with own workers and workers’
representatives about impacts 94
S1-3 Processes to remediate negative impacts and channels for own
workforce to raise concerns 95
S1-4 Taking action on material impacts on own workforce, and approaches to
managing material risks and pursuing material opportunities related to own
workforce, and effectiveness of those actions 96
S1-5 Targets related to managing material negative impacts,
advancing positive impacts, and managing material risks and opportunities 99
S1-6 Characteristics of undertaking’s employees 100
S1-9 Diversity metrics 102
S1-13 Training and skills development metrics 102
S1-14 Health and safety metrics 102
S1-16 Compensation metrics (pay gap and total remuneration) 103
S2 Workers in the value chain 103
ESRS 2, 17 Material impacts, risks and opportunities related to workers
in the value chain and their interaction with strategy and business model 103
ESRS 2, 17 Policies related to value chain workers 103
ESRS 2, 17 Processes for engaging with value chain workers, actions on
material impacts and approaches to managing material risks and opportunities 103
ESRS 2, 17 Targets related to material impacts, and managing
material risks and opportunities 105
IRO-2 Disclosure Requirements covered by sustainability statements
The following content index presents the Disclosure Requirements Konecranes complies with in
its Sustainability Statement.
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Corporate Governance Statement 2025
Remuneration Report
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2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
S4 Consumers and end-users 106
ESRS 2, 17 Material consumer- and end-user-related impacts, risks
and opportunities and their interaction with strategy and business model 106
ESRS 2, 17 Policies related to consumers and end-users 106
ESRS 2, 17 Taking action on material impacts, and approaches to managing
material risks and opportunities related to consumers and end-users 106
ESRS 2, 17 Targets related to material impacts, and managing
material risks and opportunities 108
Entity-specific information: Product security 108
4. GOVERNANCE INFORMATION 109
G1 Business conduct 109
G1-1 Business conduct policies and corporate culture 109
G1-2 Management of relationships with suppliers 110
G1-3 Prevention and detection of corruption or bribery 111
MDR-A Actions and resources related to business conduct 112
MDR-T Targets related to business conduct 113
Entity-specific information: Cyber-preparedness and enterprise resilience 114
Konecranes discloses material information. In addition, datapoint S1-16 is included in this report
to ensure transparency and responsiveness to stakeholder expectations, even though it was
not identified as material in our double materiality assessment.
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Corporate Governance Statement 2025
Remuneration Report
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
ESRS
Konecranes’
sustainability
commitment
Target 2025 2024 Progress status Related UN SDG
S1 Own workforce
We deliver safe and
secure material
handling solutions
Total Recordable Incident (TRI) rate
(1
below 3 by the end of 2030 5.2 5.9 3, 8
E1 Climate change
We enable a
decarbonized and
circular world
Science-based target: Reduce Scope 1 and 2 emissions
(2
by 60%
by 2030 from base year 2019
-54% -54% 7, 12, 13
Carbon neutral manufacturing by 2030 10,700 tCO
2
e 10,200 tCO
2
e 7, 12, 13
E5 Resource
use and circular
economy
Science-based target: Reduce Scope 3 emissions
(2
by 50% by 2030 from base
year 2019, covering use of sold products and purchased goods and services
(steel raw material)
-20% -20% 7, 9, 12, 13
Assess at least 3 new circular economy business opportunities annually 3 3 9, 12, 13
S2 Workers in the
value chain
We create a fair,
inclusive, diverse and
engaging working
environment
Conduct at least 30 Supplier Code of Conduct audits annually 26 30 3, 7, 8, 10, 12, 13, 16
S1 Own workforce
Conduct at least 3 on-site social responsibility assessments annually 3 3 3, 8
Maintain a strong Inclusion Index
(3
result: 82% or above 83% 83% 5, 10
G1 Business
conduct
We expect high ethical
standards of ourselves
and our business
partners
Reach 100% coverage of mandatory Code of Conduct training completion
(4
98% (basic)
97% (refresher)
98% (basic) 8, 16
Reach 100% of positive responses to relevant EES questions (related to business
conduct)
(5
1) 88%
2) 86%
- 8, 16
S2 Workers in the
value chain
Increase the coverage of Supplier Code of Conduct within supplier base
compared to previous year
78% 68% 3, 7, 8, 10, 12, 13, 16
ESRS2 General
Disclosures
Include ESG criteria in management incentives
Included in short-
and long-term
incentives
Included in short-
and long-term
incentives
3, 8, 13
Konecranes’ sustainability commitments, key sustainability targets and progress
Konecranes’ sustainability agenda is built on four sustainability commitments, each supported
by defined targets and programs to drive progress. The table below presents the connection
between Konecranes’ commitments and targets, the European Sustainability Reporting
Standards (ESRS), and the UN Sustainable Development Goals (SDGs), highlighting the
Company’s integrated approach to global and regulatory frameworks.
1) Number of work-related incidents resulting in medical treatment or lost time per million working hours.
2) In 2025 Konecranes recalculated its emission inventories for base year (2019) and most recent year (2024). Further information can be found in E1-4 and E1-6.
3) The Inclusion Index metric is measured based on employee responses to an employee survey encompassing three questions on important aspects of inclusion: belonging,
authenticity, and equity. For 2025, the target was updated to 82 to align with Qualtrics’ revised definition of strong result (previously 76).
4) Excluding recent new hires (less than one month in the Company) and people on leave of absence as well as employees in Ukraine.
5) Survey questions: 1) “Management of my unit is committed to integrity and ethical business practices” 2) “I would feel comfortable reporting unethical behavior if I saw it in Konecranes”
Not achievedAchieved / Progress as planned Below target
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Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
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ESRS 2 General disclosures
Basis for preparation
BP-1
General basis for preparation of sustainability
statement
The Konecranes Sustainability Statement has been prepared
on a consolidated basis. With regard to owned subsidiaries,
the scope of consolidation is the same as for the financial
statements, except for acquisitions and divestments.
The joint operations and equity accounted investments
for which Konecranes has no operational control are
treated as suppliers or investments and excluded from the
Sustainability Statement regarding own operations.
Acquisitions and divestments during the reporting year are
included in the sustainability statements as soon as they are
integrated into the relevant information systems, and those
completed during 2025 are accounted in the year-end
headcount figures and occupational safety figures for own
workforce. For more information about the acquired entities
during the reporting year, see Acquisitions and divestments
in note 4 in Konecranes’ Financial Review 2025.
This Sustainability Statement covers the Company’s
upstream and downstream value chain to the extent that
the Company has visibility and the direct ability to affect.
Konecranes’ Supplier Code of Conduct and Distributor
Code of Conduct set requirements for Tier 1 suppliers and
subcontractors, other business partners and third parties
that Konecranes works with, as well as sub-suppliers and
subcontractors that provide services or deliver products
to such companies for the benefit of Konecranes.
1. GENERAL INFORMATION
Regarding downstream, the Sustainability Statement
covers customers and end-users, distributors and logistics
providers, depending on the go-to-market model of the
Business Area and Business Unit in question. Konecranes
has not used the option to omit the disclosure of sensitive
information.
BP-2
Disclosures in relation to specific circumstances
Other medium- or long-term time horizons than those
defined in ESRS 1
In the Konecranes Sustainability Statement, the short-term
horizon is 1 year, medium-term over 1 year and up to 5 years,
and long-term is more than 5 years.
Value chain estimation
Value chain data is mainly used to calculate Scope 3
greenhouse gas emissions. The Scope 3 calculation
methodologies and used estimations are described in E1-6
Gross Scopes 1, 2, 3 and Total GHG emissions.
Sources of estimation and outcome uncertainty
No metrics with a high level of measurement uncertainty
have been identified. As Scope 3 GHG emission calculations
include indirect data sources and estimations, they are
subject to some level of uncertainty especially related to
data accuracy and timeliness.
Changes in preparation or presentation of sustainability
information
Konecranes has recalculated its emission inventories and
energy-related data for base year 2019 and year 2024 and
updated its target for Scope 1 and 2 emissions. Further
details can be found in E1-4 Targets related to climate
change mitigation and adaptation.
Governance
GOV-1
Role of the administrative, management and
supervisory bodies
Composition and access to sustainability expertise and skills
At the end of 2025, the Konecranes Leadership Team
had nine executive members including the CEO, and the
Board of Directors had seven non-executive members and
one member representing the Company’s employees,
selected in accordance with the agreement on employee
representation between Konecranes and its employees. The
share of independent Board members was 88 percent.
At the end of 2025, out of eight Board members, three were
female, representing 38 percent of the total (same in 2024).
The Board members represented three different nationalities
and were born in four different decades. The Board’s gender
diversity ratio was 0.6 (2024: 0.6).
The Shareholders’ Nomination Board, which prepares
proposals for the election of the Board of Directors,
ensures that the Board of Directors and its members
maintain and represent a sufficient level of expertise,
knowledge and competence as well as all aspects of
diversity. Board selections are based on a candidate’s
background and competency to understand Konecranes’
current and future markets, strategy, employees and
customers, including a sound understanding of financials
and business dynamics. Collectively the Board of Directors
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
should have combined experience in different markets,
geographies and topics like digitalization and corporate
responsibility. As of 2025, Konecranes’ Board of Directors
includes individuals with relevant experience across
different sectors and regions. For the full competence
matrix, please refer to Corporate Governance Statement
2025.
Roles and responsibilities
Konecranes’ Board of Directors is the highest body
overseeing sustainability. Two Board committees, the Human
Resources Committee and the Audit Committee, have
sustainability-related responsibilities.
The responsibilities of the Committees are defined in their
respected charters. The Board of Directors approves the
Company’s long-term focus, ambition level and targets.
The Board of Directors’ Human Resources Committee is
the official supervisory Board committee for sustainability,
assisting the Board of Directors with guidance and
recommendations on ESG strategy and ambition, including
environmental responsibility, human and labor rights,
health and safety as well as diversity, equity and inclusion.
The Human Resources Committee reviews sustainability
reports, performance against targets, business
strategy, Company values, and incentive plans with ESG
metrics. The Board of Directors’ Audit Committee is the
official supervisory body for overseeing the Corporate
Sustainability Reporting.
Konecranes’ President and CEO holds the highest
executive-level responsibility on sustainability. The
Konecranes Leadership Team plays a significant role in the
Company’s management system, strategy preparation and
decision-making and is involved in the risk management and
financial planning process, but it has no official statutory
position based on legislation or the Articles of Association.
The President and CEO and Konecranes Leadership Team
approve sustainability policies, strategy and targets and
review sustainability performance.
The Sustainability Council, nominated by the Konecranes
Leadership Team and led by the Vice President,
Sustainability, advises on and assists in overseeing the
sustainability strategy, ambition, performance, and
compliance with sustainability-related policies and
processes. The Sustainability Council also validates
the double materiality assessment, prepares policies,
oversees the implementation of practices, and follows
risk and opportunity assessments and emerging trends
and regulations. The Compliance & Ethics Committee,
sponsored by the Executive Vice President, General
Counsel, oversees the development and quality of the
Compliance & Ethics Program.
In Konecranes’ organizational structure, the highest
responsibility for operational sustainability work is with the
VP, Sustainability, who in 2025 reported to the President
and CEO. The VP, Sustainability, also reports to Konecranes’
Leadership Team on progress regularly, and to the
Konecranes Board of Directors and to the Committees of the
Board at least annually.
Konecranes has some dedicated controls and procedures
for managing identified sustainability impacts, risks and
opportunities. Negative impacts and risks are integrated into
Konecranes’ Enterprise Risk Management (ERM) process,
while positive impacts and opportunities are more likely to
be acknowledged in the strategy process. Konecranes has
a Risk Management function reporting to the EVP, General
Counsel. The identified material sustainability risks are visible
on the Konecranes ERM top risk list discussed within the
Audit Committee of the Board annually, presented by the
global Head of Risk Management.
Overseeing the Company’s target setting and monitoring
progress are built into the Company’s governance
mechanism. The Sustainability Council prepares proposals
on the targets for the Konecranes Leadership Team’s
approval before the board discussions. The Board of
Directors approves the strategic targets and follows
progress at least annually with the support of the Human
Resources Committee. The Human Resources Committee
discusses and prepares the long-term sustainability targets
for the Board of Directors’ approval, while also reviewing
performance and activities on an annual basis. Additionally,
the Human Resources Committee oversees the progress
of the climate transition plan and manages employee
incentives.
How appropriate skills and expertise are available or will be
developed to oversee sustainability matters
Four out of the eight Board members have strong
sustainability skills, and combined with relevant market,
business and strategic competence, the Board members
possess sufficient sustainability expertise to ensure the
capability to leverage the knowledge in overseeing the
Company’s sustainability matters.
The Board and the President and CEO, together with
the Company’s in-house sustainability experts, ensure
that Konecranes continues to have sufficient internal
sustainability expertise. The Konecranes Leadership Team
members collectively have strong sustainability expertise
and have actively been participating in sustainability-related
discussions. Additionally, the administrative, management
and supervisory bodies can seek external and internal
expertise.
The Board and the Konecranes Leadership Team are
systematically informed about Konecranes’ sustainability-
related topics, such as progress and regulatory
requirements, to ensure that they have the necessary
knowledge to make business decisions. The Board has
received training on the Corporate Sustainability Reporting
Directive in 2023.
Governance in relation to business conduct
The Group’s Compliance & Ethics Program is overseen by
an executive-level Compliance & Ethics Committee and the
Audit Committee of Konecranes’ Board of Directors. The
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Audit Committee receives periodic compliance and ethics
reports that allow proper oversight, including summaries
of internal investigations that can be of significance.
Furthermore, Vice President Compliance & Internal Audit
provides a compliance and ethics update to the full Board of
Directors once a year or as needed.
The President and CEO receives periodic updates from the
Compliance & Ethics Committee that allow proper oversight.
Additionally, VP Compliance & Internal Audit provides
quarterly reports to the Konecranes Leadership Team. The
Board and the President and CEO are provided training on
the Company’s Code of Conduct.
GOV-2
Information provided to and sustainability matters
addressed by administrative, management and
supervisory bodies
At Konecranes, the functional leaders inform the
administrative, management and supervisory bodies as
agreed annually to ensure that the material sustainability
matters are addressed during the reporting period. The
information is usually shared within the scheduled meetings
of the respective bodies.
Sustainability matters are covered on the agenda at least once
a year in the meetings of Konecranes’ Board of Directors.
The Human Resources Committee reviews sustainability
performance and activities at least once a year. The
Konecranes Leadership Team reviews sustainability progress
systematically, and in 2025 this was done five times in addition
to a monthly Key Performance Indicator follow-up.
The identified material risks are discussed in a Board of
Directors’ meeting annually, presented by the global Head of
Risk Management. By systematically receiving reviews, the
Board can assess the progress made as well as the related
risks and opportunities. With this process, Konecranes aims
to ensure that the Board members utilize this information
when making any strategy-related decisions.
To ensure that material topics are considered in decision-
making, relevant ESG topics are integrated into the
annual and long-range planning, as well as Enterprise Risk
Management (ERM), and they are identified in the strategy
process. Having ESG matters included in the processes
ensures that the risks and opportunities are addressed and
that the related trade-offs are considered.
In 2025, the double materiality assessment was discussed
in the Konecranes Leadership Team and Audit Committee
of the Board. Risks identified within the double materiality
assessment were also included in the ERM. The sustainability
agenda in general was discussed in the Board and the Human
Resources Committee once, including deep dives into the
climate agenda and safety. People topics, including Inclusion
and Diversity, were discussed in all Human Resources
Committee meetings. The Board reviewed the Corporate
Sustainability Reporting Directive (CSRD) implementation
twice during the reporting period, and the Audit Committee
conducted three reviews. Both bodies also carried out a final
review of the previous year’s report. Information security as
well as compliance and ethics topics were covered in the
Audit Committee.
GOV-3
Integration of sustainability-related performance
into incentive schemes
The members of the Board do not participate in Konecranes’
incentive schemes and do not receive performance-based
remuneration, nor do they have a pension scheme arranged
by Konecranes. Remuneration of the Konecranes President
and CEO and Deputy CEO includes a fixed remuneration
of base salary, fringe benefits and pension, and a variable
remuneration with short-term and long-term incentives.
Further details are provided in Remuneration Report 2025.
Konecranes has set a target to include ESG criteria in
management’s incentive scheme and has implemented this
since 2023. In 2025, the short-term incentive plan for the
Konecranes President and CEO and Deputy CEO as well as
other Senior Management consisted of sales growth (%) and
comparable EBITA (%) on a Group or Business Area, Business
Unit or region level, where applicable, and an ESG target for
Total Recordable Incident (TRI) rate, with a weighting of 10
percent. The long-term incentive plan launched in 2025 has
a 20 percent weighting for the ESG targets related to Scope
1 and 2 CO2 emissions (10 percent weighting) and EcoVadis
rating (10 percent weighting).
The incentive schemes are approved annually by the Board
of Directors based on a proposal by the Human Resources
Committee.
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
GOV-4
Statement on due diligence
Core elements of due diligence Environment People
Paragraphs in the
sustainability statement
a) Embedding due diligence in
governance, strategy and
business model
– Material impacts, risks and
opportunities and their interaction
with strategy:
Sustainability is a business enabler, integrated into both short- and long-term strategic planning in addition to other relevant processes. The
double materiality assessment will be revisited regularly to ensure that internal stakeholders responsible for strategic areas are aware of and
can address material impacts, risks, and opportunities. These factors are incorporated into the annual and long-range planning of all relevant
Group functions, Business Areas, Business Units, and Enterprise Risk Management.
ESRS 2 Governance, ESRS 2
Strategy, ESRS 2 Impact, risk and
opportunity management
- Integration into policies: Environmental Policy Statement, Konecranes Code of Conduct,
Supplier Code of Conduct, Distributor Code of Conduct and internal
programs, such as HSE excellence.
Human Rights Policy, Konecranes Code of Conduct, Supplier
Code of Conduct, Distributor Code of Conduct and topic-
specific policies such as Fair Labor Frame; Health and Safety
Policy Statement; Inclusion & Diversity Policy Statement.
E1-2, E5-1, S1-1, S2 Policies,
S4 Policies, G1-1, Entity-
specific information: Cyber-
preparedness and enterprise
resilience
- Integration into administrative,
management and supervisory
bodies
The Sustainability Council, the Human Resources Committee of the Board, and various business and functional leadership meetings
regularly address the information and related matters.
ESRS 2 GOV-2
- Integration of sustainability-
related performance into
incentive schemes:
In 2025, the short-term incentive targets of the President and CEO, the Deputy CEO and other senior management had a 10 percent
weighting for ESG targets and long-term incentive plan a 20 percent weighting for the ESG targets.
ESRS 2 GOV-3
b) Engaging with affected
stakeholders in all key steps of
the due diligence process
Employees: Internal communications, innovation platform,
e-learnings, internal team meetings, internal training and
development.
Customers: Engagement through sales personnel, key account
managers and service technicians. Surveys and the Voice of
Customer (VoC) feedback tool after delivery or installation.
Customer data requests.
Suppliers, subcontractors: Engagement through procurement
personnel, supplier assessments and contract negotiations.
Employees: Internal communications and meetings, employee
surveys, engagement with employee representatives, grievance
channels (including Whistleblowing Channel), employee resource
groups and health & safety committees, social responsibility
assessments including employee interviews.
Customers: Engagement through frontline personnel, key account
managers and service technicians. Whistleblowing Channel and
Accident Investigation Reporting (AIR). Surveys and the Voice of
Customer (VoC) feedback tool,
Suppliers, subcontractors: Engagement through procurement
personnel. Whistleblowing Channel and supplier assessments
including worker interviews.
ESRS 2 SBM-2, S1-2, S1-3, S2
Processes and actions, G1-2
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Core elements of due diligence Environment People
Paragraphs in the
sustainability statement
c) Identifying and assessing adverse
impacts
Regular impact assessment and climate risk analysis based on
scenario work using internal and external information as well as input
from e.g. audits. Regular risk assessment from enterprise to topic-
specific level.
Regular impact assessment using internal and external information
as well as input from e.g. audits and Whistleblowing Channel.
ESRS 2 Governance, ESRS 2
Strategy, ESRS 2 Impact, risk and
opportunity management,
E1 Material impacts, risks
and opportunities and their
interaction with strategy and
business model.
d) Taking actions to address those
adverse impacts
Own operations’ environmental management based on certified
ISO 14001 EMS and global HSE Standards, product development
according to Design for Environment, programs and processes of
supplier environmental management.
Programs and processes for Health and Safety, Inclusion &
Diversity, People processes, Compliance and Ethics, Supplier
Management, Know Your Counterparty, Data Protection.
E1-3, E5-2, S1-4, S2 Processes
and actions, S4 Actions, G1-2,
MDR-A Actions and resources
related to business conduct
e) Tracking the effectiveness of
these efforts, and communicating
Monitoring the progress of key indicators monthly. Annually, at a
minimum, monitoring specific KPIs related to energy consumption,
emissions, and circularity.
Supplier Code of Conduct audits, social responsibility
assessments for own operations, internal auditing, Whistleblowing
Channel, employee surveys, Health & Safety and Compliance &
Ethics KPIs. Overseeing findings in necessary forums.
E1-3, E1-4, E5-2, E5-3, S1-4,
S1-5, S2 Processes and actions,
S2 Targets, S4 Actions, S4
Targets, G1-2, MDR-A Actions
and resources related to
business conduct, MDR-T
Targets related to business
conduct
GOV-4
Statement on due diligence
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Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
GOV-5
Risk management and internal controls over
sustainability reporting
Konecranes has a control environment where evidence
or a control is in place for all datapoints. Additionally, all
datapoints are assessed against specified risk factors,
determining the overall risk level for incorrect reporting. The
risk level can be high, medium or low. The level of control,
evidence and internal controls are designed based on the
risk level.
The factors influencing the risk level for quantitative
datapoints are the linkage with key targets or management
incentives, data availability, dependencies between
datapoints, involvement of multiple personnel in the
data collection process, reliance on spreadsheets, and
estimation-based data. For qualitative datapoints, the risk
level was identified using criteria related to data source
availability, data complexity, and narrative scope.
This process promotes data accuracy and mitigates the risk
of human errors in the reporting process. In 2025, energy
consumption reporting was added to internal control
processes.
The risk assessment and control descriptions are integrated
into the CSRD reporting process documentation and
reviewed with affected functions. The risk assessment is
presented to the Audit Committee of the Board regularly,
and the process is aligned with the risk management function
and the internal audit team.
Strategy
SBM-1
Strategy, business model and value chain
Konecranes’ purpose is to shape next-generation material
handling for a smarter, safer and better world. The world is
facing the challenge of providing materials and goods that
are essential for people, while preserving scarce resources
and limiting emissions. As an industry leader, Konecranes
is perfectly placed to meet this challenge: the Company
supports its customers’ operations with innovative solutions
that help enhance their productivity, lower their emissions
and drive their business forward.
Demand for Konecranes’ products and services is influenced
by market conditions in the manufacturing and container
handling industries. The Company sees growth opportunities
arising from the demand for higher productivity, safety and
environmental sustainability.
Strategic ambition and sustainability commitments
Konecranes’ ambition is to be the world leader in material
handling solutions, creating value for everyone. For this, the
Company has set financial targets and ambitious climate
targets (read more in E1-4 Targets related to climate change
mitigation and adaptation).
To generate growth and improve profitability, Konecranes
has outlined five strategic enablers that are critical for the
Company’s success. These are Deepening customer focus;
Accelerating efficiency; Scaling technology innovation;
Advancing responsible business; and Enhancing our winning
culture.
The strategic enablers guide the Company’s approach
to the future, and they are linked to material sustainability
matters. For example, Advancing responsible business
has elements related to safety and security, environmental
sustainability, human and labor rights, as well as ethical
business behavior, while Scaling technological innovation
is connected to low-carbon Research and Development
(R&D) and digitalization.
Konecranes’ sustainability agenda is built around four
sustainability commitments:
• We deliver safe and secure material handling solutions
• We enable a decarbonized and circular world
• We create a fair, inclusive, diverse, and engaging working
environment
• We expect high ethical standards of ourselves and our
business partners
Konecranes has set targets for each sustainability
commitment and launched programs that ensure the
implementation of the needed actions.
During 2025, Konecranes received top-level
acknowledgments from external ratings and sustainability
rankings: For example, a Platinum rating from EcoVadis and
an A rating from CDP climate. Konecranes was also listed
among the top 500 World’s Most Sustainable Companies
and World’s Best Companies in Sustainable Growth by TIME
and Statista, as well as on the European Climate Leaders list
by the Financial Times.
Read more about the Company’s strategy in the Report of
the Board of Directors.
Offering and its integration into sustainability matters
Konecranes’ double materiality assessment has identified
actual and potential impacts across its entire product
and service offering. With sustainability at the core of
Konecranes’ strategy and operations, the Company
continuously acts to minimize the negative impacts of
its products and services. Konecranes’ sustainability-
related goals are set at the Group level. In terms of
products, Konecranes aims for all new solutions to be
more sustainable than the previous generation. These
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Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
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goals apply across all product and service groups,
customer categories, geographical areas and stakeholder
relationships.
Konecranes’ products combine productivity with eco-
efficiency, and the extensive service offering lengthens
equipment lifecycles and therefore supports circularity.
Safety and security are incorporated into the design,
construction, maintenance and service of the products. The
Konecranes Design for Environment (DfE) process aims to
improve the products’ environmental performance.
The products and services are offered through three
Business Areas, each contributing approximately one third of
Group sales:
• Service provides specialized maintenance,
modernizations and spare parts for all types of industrial
cranes and hoists. The objective is to improve customer
safety and productivity, extend equipment lifecycles and
improve equipment security.
• Industrial Equipment offers a wide range of industrial
cranes, from components and light-duty applications to
demanding process solutions. These include industrial
cranes and wire rope hoists, crane manufacturing
components, digital controls, software and automation,
as well as chain hoists, workstation lifting systems,
overhead cranes, and cranes and hoists for hazardous
environments. The Industrial Equipment offering is
electric or manual. Key sustainability focus areas include
material selection, weight optimization and energy
efficiency of products. Konecranes has, for example,
investigated standby power reduction, regenerative
power offerings and motor development with optimized
material use and efficiency. Streamlining of product
variants has resulted in fewer components. Recent
product launches (2025) include the Warehouse
Management System (WMS) Chatbot, an offline digital
assistant designed to support operators with real-
time troubleshooting and task guidance, enhancing
warehouse operations and reducing downtime. Also,
several product line extensions have been launched, like
S-series double girder hoist, S-series extended speed
hoist as well as new electric configurations for D-series
electric chain hoist. Konecranes also offered customers
the possibility to choose a low-emission steel option for
overhead crane box girder in selected European markets.
• Port Solutions provides equipment, services and software,
including ship-to-shore cranes, yard cranes, lift trucks,
mobile harbor cranes, straddle carriers and automated
guided vehicles. Port Solutions also offers maintenance,
repair and digital services and spare parts for the container
handling industry. Konecranes is expanding its electric
and hybrid product offerings, with the remaining diesel-
fueled lift truck product lines scheduled to be available
electrically by the end of 2026. This supports Konecranes’
Scope 3 target of halving emissions by 2030, as the
category “use of sold products” is the largest emissions
source, heavily impacted by diesel-powered equipment
sales. Konecranes’ transition plan focuses on this area in
the customer industries of ports and terminals. In 2025,
Konecranes continued the further expansion of the
electrified lift truck offering by rolling out the electric
empty container handler in 9-10t range as well as launching
its first electric reach stacker. Recent product launches
also include the new E-Hybrid Rubber-Tired Gantry (RTG)
crane, with a combination of onboard batteries and busbar
or cable reel electricity supply, as well as the Hydrogen
Fuel Cell Straddle Carrier.
Market reach and global presence
Demand for Konecranes’ products and services is driven
by market conditions in various industries. Business Areas
Industrial Equipment and Service both serve general
manufacturing and various process industries like metals
production, power generation, automotive, pulp and paper,
raw materials and chemicals. Port Solutions primarily serves
the container handling industry, including ports and terminal
customers, as well as industrial customers and those involved
in bulk material handling.
At the end of 2025, Konecranes had 16,469 employees,
with 9,953 (60 percent) located in the Europe, Middle East
and Africa region (EMEA), 3,178 (19 percent) in the Americas
region, and 3,338 (20 percent) in the Asia-Pacific (APAC)
region.
Konecranes has no products or services relating to or
affecting sustainability matters that are banned in certain
markets.
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Inputs Konecranes Outputs and benefits for stakeholders
People and culture
16,469 employees worldwide.
Robust talent management processes for recruitment, learning, and development.
Creating an inclusive and diverse workplace.
Technology
1,645 patents or patents pending globally.
2 percent of sales spent on R&D. Five R&D units globally.
Streamlined innovation, product development and quality management processes
enable technological development. Patent management safeguards intellectual
property rights (IPR).
Business conduct
Leadership development, following relevant regulations and legal frameworks.
Common processes and due diligence ensuring strong governance,
supported by Code of Conduct and Company values.
Collaboration and partners(hips)
Partnerships with startups, universities, and research/innovation programs. Global
manufacturing network with a global supplier and subcontractor base.
Safety and security
Prioritizing safety and security in all areas of the Company’s activities.
Systematic product and information security management.
Manufacturing and supply chain
Global manufacturing footprint and an extensive service network.
Global supply chain of 22,000 Tier 1 suppliers.
Global material and service delivery and procurement processes, Supplier
Relationship Management and lean methodology.
To secure manufacturing and supply chain resilience, Konecranes practices continuity
planning, dual sourcing options, demand planning and forecasting, and has a regional
supply footprint.
Financial resources
Cash and equity for capital and operational expenditure and for strategic
investments.
Sustainable revenue generation.
Natural resources
Purchases of steel as well as mechanical and electrical components for products.
Energy consumption for heating/cooling, manufacturing, and fueling service vehicles.
Konecranes’ ambition is to become the world leader in
material handling, creating value for everyone.
Konecranes is shaping the next generation of material
handling for a smarter, safer, and better world.
Konecranes focuses on designing, manufacturing, and
servicing intelligent, connected lifting devices.
Key resources include technological innovation and
a skilled workforce, supported by a commitment to
sustainable practices.
Distribution channels ensure efficient delivery to diverse
customer segments including industrial sectors, ports,
and logistics providers.
Konecranes’ key stakeholders:
Investors include shareholders, potential investors and
equity research analysts who make their investment
decisions and determine their holdings strategies
independently. Shareholders exercise their decision-
making power in the General Meeting of Shareholders.
Customers & distributors are impacted by product
quality and quantity; key partners in reducing emissions
and achieving ESG goals through product usage.
Suppliers & subcontractors are essential for operational
success. Similarly, these suppliers benefit financially from
the partnership with Konecranes. ESG targets can only be
achieved through aligned sustainability goals.
Employees power customer interactions, business
operations, and overall Company success.
Products and services
Industrial Equipment’s offering of standard cranes, process cranes
and related components.
Port Solutions’ products for container and bulk handling.
Service business segment’s lifecycle services for all types and
brands of industrial cranes and hoists.
Konecranes technology, including connected cranes, digital tools,
and intelligent machines, improves operational performance.
• Reliable and optimized performance for customers
• Innovations that support decarbonization (e.g. electric
equipment minimizing emissions during use) benefit both
customers and society.
• Meeting non-financial expectations by producing solutions that
advance responsible business.
Waste and emissions
Applying circular economy principles in the Company’s processes
to improve resource and energy efficiency, extending asset
lifecycles, minimizing the carbon impact of products and ensuring
materials are kept in circulation all create value for customers.
As Konecranes aims to minimize waste and emissions, it also helps
society in the transition to a low-carbon future.
Economic value distributed
• Monetary value with profitability, stability, and reliable and
optimized performance leads to increased uptime and
predictability, which can lower the total cost of ownership for
customers.
• Paying taxes and boosting local economies as an employer,
providing rewarding jobs, donations and cooperation with
institutions and top universities, including financial endowments,
benefit society.
• Dividends and meeting non-financial expectations create value
for shareholders.
Description of business model and value chain
Konecranes is organized into three Business Areas based on its products and services. In
accordance with IFRS 8, it had three reportable segments in 2025: Service, Industrial Equipment
and Port Solutions. In the Company’s double materiality assessment, Konecranes has identified
the impacts, risks and opportunities which may have an impact on its stakeholders and on all of
its business segments equally.
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Main features of upstream and downstream value chain
Upstream value chain: This includes all upstream activities
outside of Konecranes’ own operations, primarily focusing
on procurement. Konecranes’ supply chain includes
subcontractors working both on Konecranes’ sites and at
their own facilities. Key suppliers include those providing
steel and other essential raw materials like fabricated steel
and electrical components, with steel suppliers being
particularly critical due to its prevalence in Konecranes’
products. Transportation suppliers are also of significant
importance.
Downstream value chain: In the downstream value
chain, Konecranes serves end-users across various
industries, including ports and terminals (container
handling), shipyards, metals production, paper and forest,
automotive, waste-to-energy and biomass, and nuclear.
Distributors are also key, particularly in Port Solutions’
Lift truck Business Unit, where Konecranes utilizes them
alongside its own sales organization to reach end-users.
The Industrial Equipment business area employs a dual-
channel approach: a “beta” channel for direct sales to end-
users under the Konecranes brand, and an “alpha” channel
for indirect distribution via crane builders, distributors,
and component integrators. Service relationships with
customers and end-users are often formalized through
service agreements. Customers can also purchase spare
parts directly from Konecranes.
SBM-2
Interests and views of stakeholders – general
In addition to being responsible, Konecranes wants to
be responsive to society’s fast-changing expectations
by engaging in regular and close dialogue with its key
stakeholders to understand their evolving needs and
expectations. Strategic dialogue helps the Company
ascertain that its sustainability strategy supports market
demands and that the information it provides is relevant and
transparent.
Konecranes’ key stakeholders are customers, distributors,
employees, shareholders and investors as well as suppliers
and subcontractors. Stakeholder engagement occurs
systematically with all mentioned stakeholder groups.
Konecranes launched its updated strategy in May 2023.
New, updated financial targets were published in connection
with the Business Areas’ strategies presented at the Capital
Markets Day in May 2025. Otherwise, no amendments to the
new strategy have been made since the original launch.
The administrative, management and supervisory bodies
are informed, as relevant, about the views and interests of
affected stakeholders with regard to the sustainability-
related impacts either when the information is available or as
a part of predefined topical reviews.
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Key stakeholder Organization of engagement Purpose of engagement Consideration of outcomes
Customers • Handled by sales department: key account managers and service
technicians
• Constant engagement with customers through:
- Surveys and the VoC (Voice of Customer) feedback tool after
delivery or installation
- Sustainability requests from customers
- Product end-user health and safety issues raised through
Accident Investigation Reporting (AIR) or Field Quality
Inspections (FQI) processes
• Ensure strong customer focus through proactive collaboration to
deliver valued solutions and experiences.
• Engage throughout the equipment lifecycle to build trust,
optimize performance, and enhance profitability in line with
strategic priorities.
• Stay ahead of emerging trends and requirements, understand
evolving needs and expectations, and remain a preferred
supplier.
Insights from stakeholders
are gathered through various
communication tools and channels
and used to inform the double
materiality assessment. Based on
ESRS guidance and assessment
findings, stakeholder input helps
identify and exclude less relevant
topics. Key topics of interest
include GHG emissions, materials
used to reduce environmental
impact, employee and product
health and safety, human rights, and
transparency.
Distributors • Organized by both Business Areas and relevant Business Units
• Dialogue with crane builders, distributors and component
integrators integrated into processes to ensure active
communication and solid partnerships that benefit both parties.
• Business Area Industrial Equipment’s Business Unit Component
Brands to manage Konecranes’ distribution business and the
Company’s own indirect distribution channel.
• Ensure a strong distributor and customer focus through proactive
collaboration to deliver valued solutions and experiences.
• Stay ahead of emerging trends and requirements, understand
evolving needs and expectations, and remain a preferred
supplier.
Employees • Engagement integrated into people processes
• Pulse survey and Employee Engagement Survey to collect
feedback on interest and views.
• Open communication channels with workers’ representatives for
day-to-day concerns
• Engagement platforms such as intranet for internal stakeholders
• Employee representation in the Board of Directors
• Understand evolving needs and expectations, ensure the
Company is a preferred employer for current and future
employees.
Shareholders and investors • Active dialogue, encouraging shareholders and investors to share
feedback in shareholder meetings and calls as well as through
questionnaires and ratings
• Follow shareholders’ and investors’ interests and ensure
alignment with their requirements.
Suppliers and subcontractors • Organized by Konecranes’ centralized and business unit-specific
procurement and purchasing functions
• Supplier management model for building solid partnerships
• Views and concerns can be shared through supplier’s Konecranes
contact, as part of audit interviews and, in case of actual negative
impacts, through Konecranes’ Whistleblowing Channel
• Gain visibility into supply chain developments, learn about new
innovations, identify potential changes, and secure compliance.
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
ESRS Material topic/Sub-topic
Sub-sub-topic / Impact overview
(Positive + / Negative -)
Material financial implications
(Opportunity + / Risk -)
Scope of influence
E1 Climate change Climate change mitigation + GHG emission reduction in own operations and in
upstream and downstream value chain
+ Enable a competitive position in the market and
increase sales of low-carbon offering.
- If the investments in eco portfolio are not realized as
increased sales of those products.
Own operations
Upstream and downstream
value chain
- GHG emissions generated: negative impact mainly
through upstream (e.g. raw material purchases, steel)
and downstream (use of sold products) value chain
emissions.
- Missing emission targets due to insufficient
decarbonization efforts by customers and suppliers
leading to lack of revenue from the development of
the eco-portfolio.
Own operations
Upstream and downstream
value chain
+ Sustainable product design and utilization of new
sustainable technologies
+ Potentially increased revenues due to increased
demand for eco portfolio of products and services.
– Potentially reduced revenue due to reduction of
demand for eco portfolio of products and services.
Upstream and downstream
value chain
Energy - Energy consumption in own operations and by
products
Own operations and
downstream value chain
+ The use of renewable energy alternatives and
energy consumption reduction
Own operations and
downstream value chain
E5 Resource use and
circular economy
Resource outflows including
resource use
+ Product lifetime and repairability: manufacturing
durable and efficient products that minimize their
environmental footprint throughout their lifecycle
+ Potentially increased revenues due to increased
opportunities especially with service solutions
Own operations and
downstream value chain
+ Material recyclability: manufacturing durable and
efficient products that minimize their environmental
footprint throughout their lifecycle
Own operations and
downstream value chain
S1 Own workforce Working conditions - Working time: Possible continued excessive
overtime may lead to physical and mental health
issues or cause challenges to an individual’s right to
family or personal time.
Own operations
- Health and safety of own workforce can be
negatively impacted due to the nature of the material
handling industry, where the risk of serious safety
incidents is considerable.
Own operations
Equal treatment and opportunities
for all
+ Training and skills development impacts positively
not only Konecranes’ own employees and therefore
also operations but also the surrounding society.
Own operations
+ Inclusion and diversity can enhance employee
engagement and help prevent unintentional and
intentional discrimination and harassment.
Own operations
SBM-3
Material impacts, risks and opportunities and their interaction with strategy and business model
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
ESRS Material topic/Sub-topic
Sub-sub-topic / Impact overview
(Positive + / Negative -)
Material financial implications
(Opportunity + / Risk -)
Scope of influence
S2 Workers in the
value chain
Working conditions - Health and safety of the value chain workers can be
negatively impacted due to the nature of the material
handling industry, where the risks of serious incidents
or even fatalities are considerable.
Upstream value chain
S4 Consumers and
end-users
Personal safety of consumers and/
or end-users
- The customers’ and the equipment end-users’
health and safety can be negatively impacted due to
safety incidents.
+ Safe and secure product offering creates
opportunities through competitive advantage.
- Reputational and legal risks involved in cases of
incidents where Konecranes products or services
would be involved.
Downstream value chain
G1 Business conduct Corporate culture + Strong corporate culture affecting ethics in general
and social and environmental responsibility through,
for example, helping to be compliant and manage
relationships with stakeholders.
+ Strong, good corporate culture leading to better
performance; supporting employee engagement and
helping to build trust with customers and investors.
- Failing to nurture good corporate culture may lead
to non-compliance and reputational risks as well as
sanctions.
Own operations
Upstream value chain
Protection of whistleblowers + Protection of whistleblowers creates a positive
impact by promoting an open speak-up culture.
Own operations
Upstream and downstream
value chain
Management of relationships
with suppliers excluding payment
practices
+ E.g. setting environmental requirements for
suppliers can lead to smaller environmental impact
or social requirements leading to the realization of
human rights.
+ Good supplier management helps to increase
predictability and resiliency and reduce risks.
- E.g. component availability problems that can lead
to delays in product deliveries. Also, regulations cause
risks if e.g. suppliers would not be able to implement
due diligence properly
Upstream value chain
Corruption and bribery - Failure of prevention and detection of corruption and
bribery, including training can have a negative impact
by creating an unfair playing field for honest businesses,
increasing cost of doing business, discouraging
investments and slowing economic growth.
Own operations
Upstream and downstream
value chain
Entity specific Cybersecurity - Cyber-preparedness and enterprise resilience
have a negative impact mostly through the continuity
of Konecranes’ operations, which are based on
functional and reliable business applications,
IT infrastructure and factories. A wide-scale
cybersecurity attack against Konecranes can cause
a data breach, operational downtime, and a failure
to provide service and new equipment to customers
according to service agreements and contracts.
+ When cybersecurity is managed well, Konecranes
businesses can run smoothly, and, in some cases, this
is a prerequisite for doing business.
- Failing with cybersecurity management can lead to
discontinuity of operations, data breach, operational
downtime, and failure to provide services and new
equipment to customers.
Own operations
- Product security has a negative impact through the
possible poor security of the solutions that can cause
safety, environmental and availability issues.
+ Good product security helps Konecranes do
business with customers, and, for example, a
cybersecurity certificate can be a prerequisite for this.
- Failing to comply with cybersecurity regulation and
standardization requirements weakens business
opportunities and market position or results in
regulatory fines.
Downstream value chain
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Pollution, water and biodiversity
Pollution is not considered to be a material topic for
Konecranes as it does not exceed the set threshold
for materiality. Konecranes uses only limited volumes
of chemicals, and most of the hazardous substances
in Konecranes’ products are widely used commercial
components that do no significant harm during the products’
use phase.
Based on an analysis, water consumption is not significant
for Konecranes since the Company’s manufacturing
processes use very little or no water at all, and the Company’s
operations do not require extensive changes in freshwater or
seawater use. Therefore, Konecranes has deemed water as a
non-material topic.
Biodiversity and ecosystems is not considered a material
topic for Konecranes. The manufacturing of Konecranes’
products does not reserve large areas of land or have
a significant effect on biodiversity in the surrounding
natural environment. Based on biodiversity risk screening,
Konecranes’ factories are not located in biodiversity-
sensitive areas such as UNESCO World Heritage sites,
Ramsar sites or UNESCO biosphere reserves. However, one
of the factories is in an area considered a key biodiversity
area. This factory is described in more detail in the section
Process to identify and assess impacts, risks, and
opportunities in relation to other environmental topics.
Current and anticipated effects of material impacts,
risks and opportunities
During the initial double materiality assessment process,
several internal stakeholders participated in discussing the
current and anticipated effects of Konecranes’ material
impacts, risks and opportunities on the Company’s
business model, value chain, strategy and decision-
making. And as the double materiality assessment will be
revisited regularly, these topics are made clearly visible
and are known by the internal stakeholders who drive and
lead the related areas within the Company. The current
and anticipated effects of the material impacts, risks
and opportunities are acknowledged within the annual
and long-range planning of all relevant Group functions,
Business Areas and their Business Units, as well as in
Enterprise Risk Management.
The material impacts related to the material topics of
climate change mitigation as well as energy and resource
outflows including resource use all affect people and the
environment by mitigating climate change and its negative
impacts on people and the environment. Konecranes also
acknowledges a negative impact on the environment and
people generated through its emissions. The majority of
these emissions come from the value chain, mainly from
steel raw material purchases and the energy used when using
Konecranes’ sold products.
The material social impacts related to the topics of own
workforce’s working conditions and equal treatment
and opportunities for all are mainly related to people’s
physical or mental well-being or health and safety, either
positively or negatively, similarly to the working conditions
of workers in the value chain. Positive impacts are also
related to, for example, helping to prevent unintentional
and intentional discrimination and harassment. Negative
impacts are related to violations of the human rights of
those working in the supply chain. Consumers’ and end-
users’ personal safety-related impacts concern end-users’
health and safety.
The material impacts are closely connected to Konecranes’
strategy, business model and purpose of Shaping next
generation material handling for a smarter, safer, and
better world. They are also very well connected to all of the
Company’s five strategic enablers: Deepening customer
focus; Accelerating efficiency; Scaling technology
innovation; Advancing responsible business; and Enhancing
our winning culture, as well as the Company’s values: Putting
customers first; Doing the right thing; Driving for better; as
well as Winning together.
The impacts have been assessed based on their likelihood,
taking into account the expected time horizon in the
following way: Is the event expected to occur in most
circumstances (more than once a year), some circumstances
(once every 1–5 years), at some time (once every 5–10 years)
or in only exceptional circumstances (once in 10–50 years or
longer).
Konecranes is involved in the material impacts through its
activities or because of its business relationships in the
following ways:
Konecranes’ environmental impacts, such as climate change
mitigation, are addressed through ambitious Scope 1, 2 and
3 emissions targets. Emissions are reduced by managing
supplier relationships and setting stricter environmental
requirements for the Company’s suppliers. The product
offering’s environmental impact is minimized by utilizing
smart design principles, maximizing the product lifecycle
and utilizing circular economy principles throughout the
value chain. Konecranes’ service business helps to maximize
the life of material handling equipment with, for example,
predictive maintenance, modernizations and retrofits.
Konecranes also works to decarbonize its own operations
and helps its customers in reaching their low-carbon targets.
The safety-related impacts are managed by embedding
safety in all activities, including design requirements and
product development, and through the ISO 45001 and
ISO 9001 certifications, as well as a reliability and testing
approach following ISO 17025. Cybersecurity is addressed
through the ISO 27001 standard for information security,
cybersecurity and privacy protection, while product security
follows the industry’s best practice standards, such as IEC
62443 for industrial automation and control systems.
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Konecranes is involved in the material impacts on people
through its activities on governance (the Code of Conduct
setting the direction for these activities), supplier
management (the Supplier Code of Conduct setting the
direction, supported by the Know Your Supplier Policy) as
well as different people-related activities that are guided by
the Company’s policies such as the Human Rights Policy, the
Inclusion & Diversity policy statement, as well as the Talent
Acquisition and Recruitment policy.
In the reporting year, no material financial effects on the
financial position, financial performance or cash flows have
been identified regarding material risks and opportunities.
No significant risk for material adjustments in the next
annual reporting period has been identified. The resilience
of Konecranes’ strategy and business model regarding
the capacity to address material impacts and risks, and to
take advantage of the material opportunities, is discussed
in connection with the material topics in Material impacts,
risks and opportunities and their interaction with strategy
and business model as well as under relevant topic-
specific standards. Resilience is ensured through several
interconnected topics and processes, like the double
materiality assessment results, enterprise risk management,
short- and long-term planning, strategy process and
governance, which are also discussed in the respective
sections of this sustainability statement.
The double materiality assessment for the reporting year
2024 was revisited during 2025. As a result, one new material
topic was identified, namely Protection of Whistleblowers.
Also, the materiality of the following topics was assessed
to be below the materiality threshold: Extreme Weather
Events in E1, Adequate Wages, Freedom of Association and
Work-life Balance in S1 and Working Time and Forced Labor
in S2. In addition to the impacts, risks and opportunities
that are covered by the ESRS Disclosure Requirements,
Konecranes has identified two entity-specific material
topics: Product security and Cyber-preparedness and
enterprise resilience. These entity-specific material impacts,
risks and opportunities are disclosed in Material impacts,
risks and opportunities and their interaction with strategy
and business model as well as with the entity-specific
disclosures in S4 Consumers and end-users (product
security) and G1 Business conduct (cyber-preparedness and
enterprise resilience).
Impact, risk and opportunity
management
IRO-1
Description of process to identify and assess
material impacts, risks and opportunities
In assessing its impacts, risks and opportunities,
Konecranes has followed the draft guidance of double
materiality assessment provided by the European
Securities and Market Authority (ESMA). First, a model for
the assessment was created by mapping the value chain
including all the relevant stakeholders and their interests
towards ESRS topics. Then, the thresholds for materiality
were defined.
Different information sources were used to map the
stakeholders and their interests: Regulations (topics that
are highly regulated or topics with emerging regulations);
investors (feedback from ESG ratings and discussions
with investors); customers (customer requests, annual
benchmarking and a thesis work from 2023 including a
customer questionnaire); competitors (annual competitor
benchmark, and various discussions with customers);
employees (subject matter experts, Employee Engagement
Survey results and Pulse surveys’ results); Company
management (Konecranes’ strategy and values, and
discussions with the management). To include insights on
how affected stakeholders may be impacted, Konecranes
used the insights collected from interviews with suppliers’
employees during third-party supplier audits, as well
as information collected from the internal Employee
Engagement Surveys and the Pulse surveys.
In general, the same approach was used for identifying,
assessing, prioritizing and monitoring financial risks and
opportunities. First, it was assessed whether the topic is a
risk or an opportunity by nature – or both. Next, the size of the
financial effect (in EUR) was evaluated considering short-,
medium- and long-term time horizons.
A long list of all aspects of sustainability was created
including the sub- and sub-sub-topics. The next step was to
define the topics that were not relevant for Konecranes and
exclude them from the scope.
For defining the thresholds for materiality, the framework
was aligned with Konecranes’ Enterprise Risk Management
(ERM) methodology as much as possible. The ERM scales
were used to define the impact severity of scale, scope and
irremediability (1–4; low, medium, severe, very severe) and
likelihood (1–4; low, possible, likely, highly likely). The average
of severity mirrored with likelihood then showed if the impact
is minor, significant, major or critical (1–4). The process did not
prioritize negative or positive impacts; both were assessed
with the same approach. The impacts were assessed in
relation to Konecranes’ own operations and upstream and
downstream value chain. For assessing financial effects, it
was assessed whether the topic is a risk or an opportunity by
nature – or both. Then the ERM-aligned approach was used
to evaluate a potential monetary value (1–4; minor, significant,
major or critical) considering short-, medium- and long-term
time horizons. This evaluation considered whether the topic
is related to potential income or costs. In addition, it was
analyzed whether the effect was reputational, legal, people-
or environment-related. The likelihood of the financial effect
was also assessed (1–4; low, possible, likely, highly likely).
Finally, the actual financial effect was a result of the scale of
the monetary effect adjusted by its likelihood. Out of the
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Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
resulting scale of minor, significant, major and critical, the
major and critical financial effects were deemed material for
Konecranes’ Sustainability Statement.
To define the final threshold for the material topics, a
heatmap for the high-level topics was created, and all
topics having major or critical impact either from an impact
materiality or financial materiality point of view were deemed
to be material topics for Konecranes.
In general, the analysis supporting the materiality
assessment was based on Konecranes’ operations at
a global level. In relation to certain topics, for example,
local or supply category specific risks were assessed
on a more granular level. When assessing the risks, the
whole spectrum of risks was taken into account, and the
sustainability-related risks relative to other types of risks
were not prioritized.
The connections of impacts and dependencies with the
risks and opportunities that may arise from those impacts
and dependencies have been considered as extensively
as possible by looking at the whole spectrum of the topics,
impacts, risks and opportunities during the assessment
process.
The double materiality assessment process was validated
by select leaders of the Company. After this initial validation,
the assessment was validated by the Sustainability Council.
Finally, the Audit Committee of the Board reviewed the
results. As a control procedure, the assessment results were
reviewed by relevant topic-specific experts and internal
stakeholders.
The information from the double materiality assessment
is utilized in Konecranes’ annual ERM process. As part of
the process, sustainability-related risks are integrated into
enterprise risk reporting, evaluated by the Audit Committee
of the Board and reported to the Board of Directors.
The assessment information supports Konecranes’
sustainability agenda and roadmaps and helps to ensure
that the identified impacts, risks and opportunities are
addressed. The Group’s Sustainability team is responsible
for defining the action plans. As part of Konecranes’ overall
management and business planning process, sustainability
topics, where relevant, are integrated into the annual and
long-range planning of Business Areas, business units and
functions.
Konecranes has considered its own operations as well as the
upstream and downstream value chain activities throughout
the double materiality analysis. The double materiality
assessment process was applied for the first time for the
reporting period 2024, and a re-assessment was done in
2025. The materiality assessment will be reviewed at least
every two years.
IRO-1
E1 Climate change: Process to identify and assess
climate-related impacts, risks and opportunities
Konecranes’ overall process to identify and assess material
impacts, risks and opportunities is disclosed under ESRS 2
SBM-3, embedding climate. This chapter focuses specifically
on climate-related impacts, risks and opportunities, which
carry critical materiality in Konecranes’ sustainability agenda.
Konecranes has identified and assessed its material climate-
related impacts, risks and opportunities related to both
physical and transitional risks.
The details of the accounting of greenhouse gas (GHG)
emissions are explained under E1-6 Gross Scopes 1, 2, 3 and
Total GHG emissions. The identified climate impacts, risks
and opportunities are listed under E1-1 Transition plan for
climate change mitigation together with their interaction
with strategy and business models.
The process to identify and assess climate-related impacts,
risk and opportunities begins with a comprehensive mapping
of potential climate-related dependencies, impacts, risks,
and opportunities. In addition to the short-, medium- and
long-term (0–10 years) time horizons, also longer time
horizons until 2050 and 2080 for some occasions have been
considered.
Climate-related physical risks and opportunities
For climate-related physical risks, Konecranes has focused
on the SSP1-2.6, SSP2-4.5, and SSP5-8.5 global reference
scenarios prepared by the International Panel on Climate
Change (IPCC), reflecting both moderate and high-emission
pathways. To identify climate-related hazards and to
understand the likelihood, impact and actual risks involved,
the Company builds on the results from local natural hazard
assessments conducted during 2017–2019. The analysis has
been complemented by utilizing the results from a third party
study conducted in 2019 and updated in 2025 with additional
scenarios and risk assessment. These assessments focused
on Konecranes’ own operations in the United States, Finland,
Germany, and China. The countries were selected based
on the significance of the operations in these countries,
and they are considered to represent a Group-wide view.
The physical risk assessment incorporated the likelihood,
magnitude and duration of the hazards with geospatial
data using site-specific coordinates for key locations. The
potential impacts of climate-related hazards in the upstream
and downstream value chain will be investigated further
during the coming years.
Climate-related transition risks and opportunities
For climate-related transitional risks and opportunities,
Konecranes has used climate-related scenario analysis,
including the IEA Net Zero Emissions by 2050 Scenario (NZE)
and Sustainable Development Scenario (SDS), both of which
are consistent with limiting global warming to 1.5°C. These
scenarios provided a structured framework to evaluate the
likelihood, magnitude, and duration of transition events—
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Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
such as regulatory changes, shifts in customer demand, and
technological breakthroughs—across short-, medium-, and
long-term horizons.
Konecranes has used data and information from the
above-mentioned climate risk scenario analyses as well as
insights from internal experts and business leaders who in
the end have validated the results. Company-level climate-
related risks and opportunities are reviewed biannually, and
the results are fed into the Enterprise Risk Management
process. The local environmental risks are assessed locally
according to the requirements established in the ISO 14001
environmental management system. The Konecranes
Board of Directors has defined and adopted a set of
risk management principles based on widely accepted
international management practices. These principles are
designed to ensure that all risks are identified and managed
appropriately to safeguard the continuity of Konecranes’
business at all times. As part of the process, risk points
are discussed, documented, and prioritized involving
considerations on probability, costs of mitigation, and
impacts on the business.
Key risks are reported to risk management (legal
department), the Konecranes Leadership Team and the
Board of Directors’ Audit Committee. The Konecranes
Leadership Team and Business Area management teams are
responsible for supporting risk mitigation with the activities
needed.
The compatibility of climate scenarios with critical climate-
related assumptions made in financial statements
The climate-related risks and opportunities are considered,
where relevant, in the preparation of Konecranes’
financial statements. The assumptions for the financial
statements are based on the climate scenarios described
in the sustainability statements. Climate risks may impact
Konecranes’ operations, and they require judgment in
the financial reporting, relying on the management’s best
judgment and knowledge under the current circumstances.
For more information, see Use of estimates and judgments in
Konecranes’ financial statements.
IRO-1
Process to identify and assess impacts, risks, and
opportunities in relation to other environmental
topics
E2 Pollution
Pollution is not considered to be a material topic for
Konecranes. The Company has considered microplastics,
VOC (Volatile Organic Compounds), noise and light
emissions, pollution to water and soil, harmful chemicals
and chemical usage and disposal in its double materiality
assessment. However, location-based or business
activity-based screening has not been conducted, nor any
consultation with affected communities.
E3 Water and marine resources
Water and marine resources were deemed not material
for Konecranes. The assessment is supported by
water consumption data collected from Konecranes’
manufacturing sites and the WWF Water Risk Filter tool
for physical, regulatory and reputational basin water risks
in relation to the sites. In addition, a biodiversity impact
assessment including freshwater ecosystem impacts was
done for Konecranes’ own operations. Based on the analysis,
water consumption is not significant since Konecranes’
manufacturing processes use very little or no water at all.
The water risk analysis indicated that Konecranes has no
manufacturing units in “Very High” water scarcity areas.
The analysis covered 34 units out of which three units are
located in “High” and the rest in “Medium” or “Low” risk
areas. Only one unit in a high-risk area uses water in its
production process. The tool also provided scenarios on
water risks based on climate and socioeconomic changes
by 2030 and 2050, giving an insight into the future water
risks. Consultation with affected communities has not been
conducted regarding water.
E4 Biodiversity and ecosystems
Konecranes’ materiality assessment for biodiversity was
supported by a combination of different methods and tools
to identify the actual and potential impacts on biodiversity
and ecosystems. Konecranes’ own operations’ biodiversity
impacts were analyzed using the LC-IMPACT methodology.
The assessment evaluated terrestrial and freshwater
ecosystem impacts linked to climate change, land
occupation, acidification and water stress. The assessment
concluded that the biggest impact on biodiversity is related
to climate change. In addition, biodiversity impacts of the
Company’s manufacturing units have been assessed with the
WWF Biodiversity Risk Filter tool, which has also been used
to support the screening of potential dependencies as well
as potential physical and reputational risks. A biodiversity risk
screening has been conducted to identify the Konecranes
factory locations situated in or near biodiversity-sensitive
areas. Systemic risks have not been considered, and
communities were not involved in the materiality assessment
of biodiversity and ecosystems.
The biodiversity and ecosystems topic is not considered
to be material for Konecranes. The manufacturing of
Konecranes’ products does not reserve large areas of land
or have a significant effect on biodiversity in the surrounding
natural environment. Water consumption is not significant
since Konecranes’ manufacturing processes use very little
or no water at all. The Company’s operations do not require
extensive changes in freshwater or seawater use. Based on
biodiversity risk screening, Konecranes’ factories are not
located in biodiversity-sensitive areas such as UNESCO
World Heritage sites, Ramsar sites or UNESCO biosphere
reserves. However, one of the factories, Konecranes’
Thailand manufacturing unit, is in an area that is considered
a key biodiversity area. The biggest threats to the area’s
biodiversity are agriculture, urban expansion, infrastructure
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
and industrial development, and related pollution. The
manufacturing unit is in an established industrial area.
The environmental management of Konecranes’ own
operations is based on ISO 14001. Konecranes’ Global
HSE Standards for environmental management set the
minimum requirements and standardize the ways of
working by defining common rules for all operations. For
energy management as well as for chemical handling and
waste management, the standards set a minimum level for
environmental management. There are clear instructions in
place to ensure that residual waste and hazardous waste are
disposed of according to local requirements and through
licensed waste management companies. Waste data
is followed on a quarterly basis, including the treatment
method. Environmental incidents and near-miss cases
are reported through a global HSE reporting tool, and
investigations of the root causes and corrective actions are
conducted accordingly. Konecranes collects and reviews
water consumption data quarterly from its factories. It has
not been concluded whether it is necessary to implement
biodiversity mitigation measures.
E5 Resource use and circular economy
The identification of impacts, risks and opportunities related
to resource inflows, outflows and waste was done together
with the climate assessment. For the circularity assessment,
Konecranes used several information sources such as
product-level material distribution information available in
the Environmental Product Declarations, product Life Cycle
Assessments, as well as information on its own resource
usage such as data on water consumption and generated
waste. Steel raw material was assessed more carefully as
steel is a dominating material in product-level distribution in
terms of material volumes.
From the resource outflow point of view, the topics of
product lifetime and repairability and material recyclability
have been identified as material. Resource inflows and
waste were identified as not material for Konecranes. Our
equipment contains mostly steel and other metals, which are
recyclable. This enables customers to recycle them at the
end-of-life stage. Enabling maintainability and repairability is
a significant contributor for Konecranes’ service operations.
During the assessment, no consultations have taken place
with affected communities.
Process to identify and assess business conduct-related
material impacts, risks and opportunities
When describing the overall process in General information:
IRO-1 Description of process to identify and assess
material impacts, risks and opportunities, Konecranes has
considered the relationship with business conduct-related
matters.
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Description of the policy Scope of the policy
Third-party standards or initiatives the
Company commits to respect through the
implementation of the policy
Description of the consideration
given to the interests of key
stakeholders in setting the policy
Code of Conduct
Sets the fundamental expectations for ethical and compliant behavior.
It outlines the Company’s commitment to responsible conduct towards
customers, business partners, suppliers, subcontractors, personnel,
society, and financial markets in all countries where Konecranes
operates.
Applies to all Konecranes entities and
personnel globally, including employees,
managers, officers, and directors.
States the commitment to the ten principles
of the UN Global Compact, the UN Guiding
Principles on Business and Human Rights, and the
OECD Guidelines for Multinational Enterprises.
Developed in consideration of various
internal stakeholder interests and views.
Environmental Policy Statement
Outlines the commitment to minimizing environmental impact through
decarbonization, circular economy practices, and resource efficiency.
Key commitments include reducing greenhouse gas emissions,
improving energy efficiency, and transitioning to renewable energy.
Konecranes actively promotes environmental awareness among
stakeholders, establishes environmental requirements for its supply
chain, and continuously monitors its environmental performance to
ensure compliance and identify climate-related opportunities.
The responsibility for environmental
issues extends across all of Konecranes.
Commits the Company to 1.5°C-aligned,
science-based near-term targets validated
by the Science Based Targets initiative (SBTi).
The policy also incorporates key third-party
standards and initiatives, including the Paris
Agreement, ISO 14001, the Greenhouse
Gas Protocol, and adherence to local and
international environmental regulations.
Developed in consideration of various
internal stakeholder interests and views.
Supplier Code of Conduct
Outlines the minimum legal and ethical requirements and principles
that Konecranes expects its suppliers and subcontractors to adhere
to, mirroring the standards set in Konecranes’ own Code of Conduct.
These principles are essential for establishing and maintaining business
relationships. Compliance with the policy is monitored, for example,
through a background checking process and audits.
Applies to all suppliers and
subcontractors that have a direct
contractual relationship with
Konecranes, as well as their sub-
suppliers and subcontractors providing
services or products for Konecranes'
benefit. It also extends to certain
suppliers in Konecranes' downstream
value chain (e.g. downstream logistics).
Aligns with the OECD Guidelines for Multinational
Enterprises and the UN Global Compact. The
Code requires suppliers to take into account
human rights as defined in the International Bill
of Human Rights and in the International Labour
Organization’s (ILO) Declaration on Fundamental
Principles and Rights at Work.
Updated in 2024, addresses e.g.
customers’ and investors’ expectations
for legal, ethical and sustainable
practices in Konecranes' supply chain.
Distributor Code of Conduct
Outlines the minimum legal and ethical requirements and principles that
Konecranes expects its distributors to adhere to, mirroring the standards
set in Konecranes’ own Code of Conduct. These principles are essential
for establishing and maintaining business relationships.
Applies to all business partners engaged
as official distributors of Konecranes
Group.
Aligns with the OECD Guidelines for Multinational
Enterprises and the UN Global Compact. The
Code requires distributors to take into account
human rights as defined in the International Bill
of Human Rights and in the International Labour
Organization’s (ILO) Declaration on Fundamental
Principles and Rights at Work.
Developed in consideration of various
internal stakeholder interests and views.
MDR-P
Policies adopted to manage material impacts, risks and opportunities
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Description of the policy Scope of the policy
Third-party standards or initiatives the
Company commits to respect through the
implementation of the policy
Description of the consideration
given to the interests of key
stakeholders in setting the policy
Human Rights Policy
Commits Konecranes to respecting and supporting human rights
throughout its operations and business relationships and encourages
all its business partners to respect human rights. This includes a
commitment to conduct risk-based due diligence and maintenance
of effective grievance mechanisms. Konecranes also engages with
affected stakeholders and seeks to provide remedy. The policy
addresses key impacts like health & safety and inclusion and diversity.
The policy is monitored in own operations and in value chain for example
through surveys and audits.
Applies to all Konecranes entities and
employees. Everyone’s human rights are
respected also in business relationships.
Additionally, Konecranes works with and
encourages its business partners to res-
pect internationally recognized human
rights within their businesses and, in turn,
their business relationships.
Commits the Company to operating in
accordance with internationally recognized
human rights standards, including the
International Bill of Human Rights, the ILO
Declaration, the UN Guiding Principles on
Business and Human Rights, and the UN Global
Compact's ten principles.
Many stakeholders, like customers,
investors and employees, expect the
Company to have in place a policy
aligned with internationally recognized
human rights standards.
Health and Safety Policy Statement
Prioritizes safety with the goal that “Everyone should be able to go safely
home, every day.” It outlines seven health and safety commitments,
including zero tolerance for unsafe acts, and six ways of working to
achieve these commitments, monitored through the Company’s health
and safety management system.
Applies to all Konecranes employees
and, in part, to non-employees.
Aligns with UN Sustainable Development Goals
3 and 8.
Konecranes recognizes that many
stakeholders consider health & safety
management a material issue, expecting
the Company to have relevant policies
in place.
Inclusion and Diversity (I&D) Policy Statement
Aims to foster a diverse and inclusive work environment where
employees feel trusted, psychologically safe, and have equal
opportunities to succeed. Monitoring includes employee surveys
(Inclusion Index), tracking country specific I&D goals, and analyzing
workforce diversity trends (e.g., gender and nationality).
Applies to all Konecranes employees
and, in part, to non-employees.
Supports the UN Sustainable Development Goals
on reduced inequalities and gender equality and
includes signing the European Commission's
Diversity Charters in select European countries.
Konecranes recognizes that many
stakeholders consider inclusion and
diversity to be material issues, expecting
the Company to have relevant policies
in place.
Talent Acquisition and Recruitment Policy
Aims to ensure a diverse talent pool through recruitment practices,
monitored by tracking gender and nationality diversity in new hires.
Applies to all Konecranes employees
and people who are part of Konecranes’
recruitment process.
Principles based on e.g. Fair Labor Frame,
Inclusion and Diversity Policy Statement.
Developed to address both internal and
external stakeholder views and interests,
in an effort to ensure high-quality, fair
and equal recruitment principles and
processes within Konecranes.
Quality Policy Statement
Outlines the Company’s purpose, objectives, and commitments
related to quality. Key objectives include striving for zero product safety
incidents, preventing non-conformities, and improving customer
satisfaction. The statement also details the methods used for systematic,
continuous improvement.
Covers the entire value chain, including
upstream and downstream activities, in
addition to Konecranes’ own operations.
Aligns with UN Sustainable Development Goals
3, 8 and 9.
Developed in consideration of key
stakeholders' interests, such as
customers, investors, and employees,
who expect high-quality, safe, and
secure products. These considerations
include the risk landscape, regulations,
and market expectations.
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Description of the policy Scope of the policy
Third-party standards or initiatives the
Company commits to respect through the
implementation of the policy
Description of the consideration
given to the interests of key
stakeholders in setting the policy
Information Security Policy
Addresses information security threats and risks to ensure the safety and
security of Konecranes’ products and business. It defines information
security as processes and practices that maintain the confidentiality,
integrity, and availability of Konecranes’ information, data, factories,
and business processes. Key objectives include delivering safe and
secure material handling solutions, improving cyber preparedness and
enterprise resilience, and empowering employees to make cyber-aware
decisions.
Covers the entire value chain, including
upstream and downstream activities, in
addition to Konecranes’ own operations.
Commits to managing information security
according to ISO 27001 best practices.
Developed in consideration of key
stakeholders' interests, such as
customers, investors, and employees,
who expect high-quality, safe, and
secure products. These considerations
include the risk landscape, regulations,
and market expectations.
Know Your Supplier Policy
Ensures the Company partners with suppliers and subcontractors who
meet the standards outlined in Konecranes’ Supplier Code of Conduct,
including respect for human rights, health and safety, privacy and
environment. The policy establishes minimum requirements for selecting
and onboarding new suppliers and subcontractors, and for renewing
background checks of existing suppliers and subcontractors.
Applies to all Konecranes entities
globally.
Principles based on Supplier Code of Conduct. Developed in consideration of various
internal stakeholder interests and views.
Fair Labor Frame
Promotes continuous improvement in labor practices, acknowledging
varying maturity levels across locations. It sets minimum requirements
and aspirational practices addressing topics such as inclusion & diversity,
training/skills development, working hours, compensation, and freedom
of association. Monitoring occurs through regular people processes,
social responsibility assessments and internal auditing.
Applies to all employees. Grounded in internationally recognized principles
and best practices, including the UN Global
Compact, ILO Declaration on Fundamental
Principles and Rights at Work, and SA8000
standard.
Konecranes recognizes that many
stakeholders, such as employees
and customers, consider fair working
conditions to be a material issue,
expecting the Company to have relevant
policies in place.
Warranty Handling Policy
Outlines responsibilities, principles, and guidelines for managing
customer notifications related to warranty cases and defective
deliveries. Konecranes has specific processes for different types
of nonconformities impacting end-user health and safety, including
Accident Investigation Reporting (AIR) and Field Quality Inspection (FQI)
instructions.
Covers the downstream value chain. Aligns with UN Sustainable Development Goals
3, 8 and 9.
Developed in consideration of key
stakeholders' interests, such as
customers, investors, and employees,
who expect high-quality, safe, and
secure products. These considerations
include the risk landscape, regulations,
and market expectations.
Anti-Corruption Policy
Outlines guidance, processes and controls to prevent, detect, and
address corruption risks. Key features include detailed instructions on
gifts and hospitality (with monetary limits and approvals) and a review
process for sales intermediaries.
Applies to all employees. Aligns with the United Nations Convention
against Corruption.
Developed in consideration of key
stakeholders' interests, such as
customers, investors, and employees,
who expect legal and ethical conduct.
These considerations include the risk
landscape, regulations, and market
expectations.
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Code of Conduct and Anti-Corruption Policy are approved
by the Board of Directors. The executive-level Compliance &
Ethics Committee determines the implementation guidance,
and the Konecranes Leadership Team (KLT) members
reporting to the President and CEO are accountable
for implementation. Environmental Policy Statement,
Human Rights Policy, Health and Safety Policy Statement,
Inclusion and Diversity (I&D) Policy Statement, Quality Policy
Statement, Information Security Policy, Supplier Code of
Conduct, and Distributor Code of Conduct are approved
by the KLT and implemented by relevant Business Areas
and functions, with accountability for implementation
resting with KLT members. These policies are signed by the
President and CEO, except for the Supplier and Distributor
Codes of Conduct. Talent Acquisition and Recruitment
Policy and Know Your Supplier Policy are approved by the
KLT, and Fair Labor Frame is approved by the Konecranes
Sustainability Council. They are implemented by relevant
Business Areas and functions. Warranty Handling Policy is
approved by the Vice President, Continuous Improvement,
and implemented by the Continuous Improvement team.
Policies publicly available on the Company website include
Code of Conduct (35 languages), Environmental Policy
Statement, Supplier Code of Conduct (24 languages),
Distributor Code of Conduct (5 languages), Human Rights
Policy, Health and Safety Policy Statement, Inclusion and
Diversity (I&D) Policy Statement and Quality Policy Statement
and are also promoted through training and/or awareness
campaigns. The Supplier Code of Conduct is communicated
separately to suppliers when a new version is launched. Code
compliance is a standard clause in purchase agreements, and
suppliers may be required to provide a separate contractual
commitment when deemed mandatory. Commitment to
the Distributor Code of Conduct is included in distributor
agreements. The following policies are available on the intranet
to all employees: Talent Acquisition and Recruitment Policy,
Information Security Policy, Know Your Supplier Policy, Fair
Labor Frame, Warranty Handling Policy, and Anti-Corruption
Policy (35 languages). These policies are promoted through
training and awareness campaigns, with corruption topics
included in Code of Conduct training and supplemented by
specific anti-corruption training for staff employees.
2. ENVIRONMENTAL INFORMATION
Disclosures pursuant to Article 8 of
Regulation 2020/852 (Taxonomy
regulation)
Konecranes has activities that qualify as environmentally
sustainable according to the EU Taxonomy Regulation (EU)
2020/852. Konecranes has activities related to its equipment
sales that are in the scope of technical screening criteria
(TSC) 3.6. Manufacture of other low-carbon technologies
of delegated regulation (EU) 2021/2139. These activities are,
according to Article 16 of the Taxonomy Regulation, enabling
substantial contribution towards climate change mitigation.
In addition, Konecranes’ maintenance and repair activities
within Business Areas Industrial Equipment and Port Solutions
enable substantial contributions to circular economy
according to delegated regulation (EU) 2023/3851 C (2023).
Those are described in TSC 5.1. Repair, refurbishment and
remanufacturing. Konecranes’ spare parts activities within
Business Areas Industrial Equipment and Port Solutions
are taxonomy-eligible for their support in the transition to a
circular economy according to TSC 5.2. Sale of spare parts.
Accounting principles, assessment process and
changes in the reporting
Eligibility and alignment of revenue were evaluated at the
product and solution level and represent only sales to external
customers at the Group level. Eligibility and alignment of
capital expenditure and operational expenditure were
assessed at the Group level. Konecranes avoids double
counting by separating the activities related to equipment and
service activities and by having a clear structure in financial
reporting to ensure that the business units and cost elements
are separate for each activity. Assessing its equipment and
service offering against the technical screening criteria of
activities 3.6., 5.1. and 5.2. included identifying eligible and
aligned activities, reviewing the substantial contribution
and the ‘do no significant harm’ (DNSH) criteria for each of
the five remaining environmental objectives for all relevant
business activities, and carrying out an assessment of the
Minimum Safeguards (MS) at the Group level. The latest draft
FAQ on the interpretation and implementation of certain
legal provisions of the EU Taxonomy delegated acts from the
European Commission, published on November 29, 2024, has
been used within 2025 reporting. In 2025, Konecranes has
considered the updated DNSH criteria for Pollution prevention
and reports according to the updated EU Taxonomy Table
layout as per Delegated Regulation (EU) 2026/73.
The aligned revenue reported for activities 3.6. and 5.1. has been
revised and the calculation logic has been updated in 2025.
Recalculation of the previous year’s figure resulted in a change
from EUR 892 million to EUR 827 million for activity 3.6., and from
EUR 1,099 million to EUR 1,091 million for activity 5.1. Aligned
CapEx and OpEx are calculated applying the proportion of
taxonomy-aligned revenue, and thus previous year’s figures
are recalculated. In addition, the calculation methodology for
aligned CapEx for activities 3.6. and 5.1. has been revised and
updated in 2025. Consequently, 2024 aligned CapEx changed
from EUR 25.6 million to EUR 26.4 million and aligned OpEx
changed from EUR 13.7 million to EUR 12.4 million.
Eligible and aligned revenue
Konecranes’ activities are aligned with the objective of
Climate Change Mitigation according to the TSC of
3.6. Manufacture of other low-carbon technologies.
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The calculation of the revenue percentage is based on low-
emission technology such as inverter-controlled hoisting,
regenerative braking and hybrid and electric power options
(within the markets where there are diesel power options).
These solutions provide a lower-emission alternative
compared to other available technologies. Inverter
technology as well as regenerative braking solutions may
contribute significantly to the energy consumption of the
equipment, saving 15–45 percent in carbon emissions
from the use phase during the crane’s lifecycle. These
technologies substitute existing technology with lower-
emission alternatives in lifting and moving applications
of all customer industries, but especially in heavy duty
applications where the use phase impact is significant.
Compared to diesel equipment, hybrids save up to 20
percent in emissions during equipment lifetime. Fully
electric equipment can reduce emissions by approximately
70 percent. When using renewable electricity, the
emissions savings will be higher. This equipment aims to
create substantial GHG emissions reductions in the ports
and terminal industries. Konecranes’ activities in these
areas enable substantial contributions towards climate
change mitigation according to representative Life
Cycle Assessments (LCA) made in comparison with the
best performing alternative technologies. The lifecycle
GHG emissions savings are calculated according to ISO
standards.
Within the objective of circular economy, Konecranes has
activities following the TSC 5.1. and 5.2. The activities that
contribute substantially to a circular economy include repair,
refurbishment and remanufacturing activities, as well as
the sale of spare parts, as they enable a significantly longer
lifetime for the equipment. Konecranes’ maintenance and
repair activities, including modernizations and retrofits,
are taxonomy-aligned according to the TSC laid out in 5.1.
Repair, refurbishment, and remanufacturing. Konecranes
embeds a waste management guidance on the Group level,
providing waste management guidelines for Konecranes’
service operations. The objective is to minimize negative
health and environmental impacts caused by waste and
pollution while promoting resource efficiency and circularity
throughout the service activities. Konecranes’ spare parts
business was assessed to be taxonomy-eligible but not
taxonomy-aligned according to the TSC for 5.2. Sale of
spare parts. Spare parts enable a prolonged lifetime for
equipment. TSC 5.2. includes the requirements that primary
and secondary packaging be made of at least 65 percent
recycled material. For paper and cardboard packaging, the
remaining primary raw materials must be certified and overall,
for plastic packaging, only mono materials without coatings
are allowed. Konecranes is still evaluating the packaging
requirements.
‘Do no significant harm’ assessment
The ‘do no significant harm’ assessment has been conducted
collaboratively for all Konecranes entities, focusing on
Konecranes’ production sites and offering.
Climate change mitigation (for Circular economy)
Konecranes’ repair, refurbishment and remanufacturing
activities do not involve on-site generation of heating/
cooling or co-generation including power, and they emit no
direct GHG emissions deriving from this activity.
Climate change adaptation
Konecranes has conducted a climate risk and opportunity
assessment. The Company has focused on four global
reference scenarios: IEA Net Zero Emissions by 2050
(NZE), Sustainable Development Scenario (SDS), and the
IEA SSP5-8.5 and SSP2-4.5 scenarios by the International
Panel on Climate Change (IPCC). Based on the results of
the assessment, Konecranes has implemented mitigation
measures, including focusing on continuous improvement
of energy efficiency as well as addressing physical climate
hazards in the continuity planning, where relevant.
Sustainable use and protection of water and marine
resources
Konecranes has water management practices in place,
such as the ISO 14001 management system, and other
internal processes and policies. According to a study done
using the WWF Water Risk Filter tool, Konecranes has no
manufacturing sites in “Very High” water scarcity areas. Only
one of Konecranes’ sites located in high-risk areas uses
water in its production process. For example, the site in Jejuri,
India, has countermeasures in place, such as a closed-loop
system for the water used in the production process and a
sewage treatment plant.
Transition to a circular economy (for Climate change
mitigation)
Konecranes’ commitment to a circular economy is
integrated into the Company’s business processes,
covering sourcing, product development and production.
Konecranes has implemented a Design for Environment
concept, and the Company’s Supplier Code of Conduct
covers requirements for waste management and a list of
restricted substances. For its own operations, the Company
has launched a Global Environmental Standard on waste and
resource management.
Pollution prevention and control
The criteria for this environmental objective require
that relevant business activities do not lead to the
production, putting onto the market, or use of chemicals
listed in multiple EU chemical regulations and directives.
Konecranes has identified that its products contain
commercial components that, at low concentrations,
include Substances of Very High Concern (SVHC),
such as lead. Konecranes complies with the REACH
Regulation. The Company’s processes ensure that the
use of such substances is minimized, and components
are substituted if there is commercial availability.
Konecranes’ products are handled and used in industrial
facilities and/or by professional users. Substances present
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Consolidated cash flow statement
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in the products are incorporated into articles and are not
meant to be released.
Protection and restoration of biodiversity and
ecosystems
Konecranes has conducted an analysis to identify factories
located in biodiversity-sensitive areas such as UNESCO
World Heritage sites, Ramsar sites or UNESCO biosphere
reserves, and based on the analysis no factories are
located in these areas. However, the Company’s Thailand
factory is in an area that is considered a key biodiversity
area. The biggest threats to the area’s biodiversity are
agriculture, urban expansion, infrastructure and industrial
development, as well as pollution. The factory is in an
established industrial area. Konecranes aims to ensure that
it has an efficient environmental management system in
place including pollution control and waste management
practices, as well as all other necessary precautionary
procedures.
Minimum safeguards
Minimum safeguards consist of OECD Guidelines for
Multinational Enterprises, the UN Guiding Principles on
Business and Human Rights (UNGP), the International
Labour Organization (ILO) Declaration on Fundamental
Principles and Rights at Work and the International Bill
of Human Rights. The minimum safeguards assessment
covered the following social and governance aspects:
human rights, taxation, corruption and bribery, and fair
competition. It evaluated the Company’s policies and
processes as well as potential material breaches or
violations of the principles. Based on the assessment, the
Company has adequate minimum safeguards in place.
Further information about the governance can be found
in G1 Business Conduct and about human rights in S1
Own workforce, S2 Workers in the value chain and S4
Consumers and end users.
Turnover
Revenue is calculated on the basis of the sales revenue
(revenues according to IFRS 15) as reported in Note 5 to
the Financial Statements. In 2025, Konecranes’ revenue
amounted to EUR 4,188 million (denominator) (2024: 4,227
million). Aligned and eligible revenue was calculated at the
product and solution level and represents only sales to
external customers at the Group level. Taxonomy-aligned
products for activity 3.6. accounted for EUR 784 million
(2024: 827 million), or 19 percent (2024: 20 percent) of
Konecranes’ revenue. Taxonomy-aligned sales for activity
5.1. accounted for EUR 1,061 million (2024: 1,091 million), or
25 percent (2024: 26 percent) of Konecranes’ revenue.
The changes in the revenue are affected by the sales
mix. Taxonomy-eligible service solutions for activity 5.2.
accounted for 14 percent (2024: 14 percent) of the revenue.
Capital and operating expenditure
Capital expenditure (CapEx) and the specifically defined
categories of operating expenditure (OpEx) described in the
Taxonomy Regulation are reported at the Group level. They
support the transition towards a low-carbon and circular
economy and achieving the science-based climate targets
set for own operations and for the value chain.
In taxonomy reporting, CapEx contains intangible and
tangible asset additions and also covers additions resulting
from business combinations. In 2025, the total CapEx
amounted to EUR 110 million (2024: 199 million) (see Notes
14 and 15 to the Financial Statements). In the aligned CapEx
for Activity 3.6., Konecranes includes investments in own
and leased facilities and production equipment that are
associated with the manufacturing of taxonomy-aligned
equipment. Additionally, the CapEx with vehicles used
for service activities, as an example for the maintenance
of customer assets, are included in the aligned CapEx
for Activity 5.1. The share of aligned CapEx is calculated
according to the proportion of taxonomy-aligned revenue.
The total taxonomy-aligned CapEx amounted to EUR 28
million (2024: 26 million) or 26 percent (2024: 13 percent) of
the total CapEx.
In taxonomy reporting, OpEx amounted to a total of EUR
112 million (2024: 91 million). The total OpEx contains direct
non-capitalized costs that relate to building renovation
measures and maintenance and repair expenditures related
to servicing of assets of property and equipment, R&D
expenses and short-term leases. Out of these, Konecranes
classifies the costs of maintenance and repair for plants that
manufacture taxonomy-aligned equipment as taxonomy-
aligned OpEx for Activity 3.6. The expenditure of these costs
is calculated according to the proportion of taxonomy-
aligned revenue. Additionally, the costs of maintenance
and repair for service-related activities are included in
the taxonomy-aligned OpEx for Activity 5.1. Taxonomy-
eligible OpEx for the technical screening 5.2. refers to
costs of maintenance and repair for locations in spare parts
operations.
The taxonomy-aligned OpEx was EUR 10 million (2024: 12
million) or 9 percent (2024: 14 percent) of the total OpEx. The
taxonomy-eligible OpEx from the spare parts related repair
and maintenance was 1 percent (2024: 1 percent) of the total
OpEx.
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Notes to the consolidated financial statements
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Tables
Table. Proportion of turnover, CapEx, OpEx from products or services associated with Taxonomy-eligible or Taxonomy-aligned economic
activities – disclosure covering year 2025 (summary KPIs)
Table. Proportion of turnover from products or services associated with Taxonomy-eligible or Taxonomy-aligned economic activities –
disclosure covering year 2025 (activity breakdown)
Economic Activities Code
Taxonomy eligible
KPI (Proportion
of Taxonomy
eligible Turnover)
Taxonomy aligned
KPI (monetary
value of Turnover)
Taxonomy aligned
KPI (Proportion of
Taxonomy aligned
Turnover)
Climate
Change
Mitigation
Climate
Change
Adaptation Water
Circular
Economy Pollution Biodiversity Enabling activity Transitional activity
Proportion of
Taxonomy aligned in
Taxonomy eligible
% MEUR % % % % % % % (E where applicable) (T where applicable) %
Manufacturing of other low carbon technologies CCM 3.6. 19% 784 19% 19% E - 100%
Repair, refurbishment and remanufacturing CE 5.1. 25% 1,061 25% 25% - - 100%
Sale of Spare Parts CE 5.2. 14% 0 0% 0% - - 0%
Sum of alignment per objective 19% 25%
Total KPI (Turnover) 58% 1,846 44% 19% 25% 19% 0% 76%
KPI Total
Proportion of
Taxonomy
eligible activities
Taxonomy
aligned activities
Proportion of
Taxonomy
aligned activities
Climate
Change
Mitigation
Climate
Change
Adaptation Water
Circular
Economy Pollution Biodiversity
Proportion of
enabling activities
Proportion of
transitional activities
Not assessed
activities considered
non-material*
Taxonomy aligned
activities in previous
financial year 2024
Proportion of
Taxonomy aligned
activities in previous
financial year 2024
MEUR % MEUR % % % % % % % % % % MEUR %
Turnover 4,188 58% 1,846 44% 19% 25% 19% 0% 1,918 45%
CapEx 110 26% 28 26% 7% 19% 7% 0% 26 13%
OpEx 112 10% 10 9% 8% 2% 8% 0% 12 14%
Environmental objective of Taxonomy aligned activities
Breakdown by environmental objectives of Taxonomy aligned activities
Financial year 2025
Financial year 2025
Reported KPI: Turnover
*Konecranes reports all economic activities assessed under the EU Taxonomy and does not apply the 10% materiality threshold.
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Consolidated cash flow statement
Notes to the consolidated financial statements
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Economic Activities Code
Taxonomy eligible
KPI (Proportion
of Taxonomy
eligible OpEx)
Taxonomy aligned
KPI (monetary
value of OpEx)
Taxonomy aligned
KPI (Proportion
of Taxonomy
aligned OpEx)
Climate
Change
Mitigation
Climate
Change
Adaptation Water
Circular
Economy Pollution Biodiversity Enabling activity Transitional activity
Proportion of
Taxonomy aligned in
Taxonomy eligible
% MEUR % % % % % % % (E where applicable) (T where applicable) %
Manufacturing of other low carbon technologies CCM 3.6. 8% 8 8% 8% E - 100%
Repair, refurbishment and remanufacturing CE 5.1. 2% 2 2% 2% - - 100%
Sale of Spare Parts CE 5.2. 1% 0 0% - - 0%
Sum of alignment per objective 8% 2%
Total KPI (OpEx) 10% 10 9% 8% 2% 8% 0% 91%
Environmental objective of Taxonomy aligned activities
Financial year 2025
Reported KPI: OpEx
Economic Activities Code
Taxonomy eligible
KPI (Proportion
of Taxonomy
eligible CapEx)
Taxonomy aligned
KPI (monetary
value of CapEx)
Taxonomy aligned
KPI (Proportion
of Taxonomy
aligned CapEx)
Climate
Change
Mitigation
Climate
Change
Adaptation Water
Circular
Economy Pollution Biodiversity Enabling activity Transitional activity
Proportion of
Taxonomy aligned in
Taxonomy eligible
% MEUR % % % % % % % (E where applicable) (T where applicable) %
Manufacturing of other low carbon technologies CCM 3.6. 7% 8 7% 7% E - 100%
Repair, refurbishment and remanufacturing CE 5.1. 19% 20 19% 19% - - 100%
Sum of alignment per objective 7% 19%
Total KPI (CapEx) 26% 28 26% 7% 19% 7% 0% 100%
Environmental objective of Taxonomy aligned activities
Financial year 2025
Reported KPI: CapEx
Table. Proportion of CapEx from products or services associated with Taxonomy-eligible or Taxonomy-aligned economic activities – disclosure
covering year 2025 (activity breakdown)
Table. Proportion of OpEx from products or services associated with Taxonomy-eligible or Taxonomy-aligned economic activities – disclosure
covering year 2025 (activity breakdown)
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E1
Climate change
E1-1
Transition plan for climate change
mitigation
Konecranes’ transition plan for climate change mitigation
is supported by 1.5°C-aligned science-based near-
term targets approved by the Science Based Targets
initiative (SBTi). Additionally, Konecranes has committed to
setting long-term emissions reduction targets in line with
science-based net-zero with the SBTi. Konecranes has
built a transition plan for mitigating climate change and is
committed to supporting its customers in decarbonizing
their operations.
As Konecranes reached the science-based target for
halving Scope 1 and 2 emissions eight years ahead of time
in 2022, the Company has increased its ambition and aims
for a 60 percent reduction by 2030 from the 2019 base
year. This updated science-based target was approved by
SBTi in 2025. In addition, Konecranes aims to reach carbon
neutral manufacturing by 2030, a target beyond the SBTi
guideline.
Ninety-nine percent of Konecranes’ climate impact comes
from the value chain where the use of sold products is the
highest contributing category followed by purchases of
goods and services, where steel-related purchases play
the most significant part. In the near term, Konecranes aims
to reduce its Scope 3 emissions encompassing emissions
from the use of sold products and steel raw material
purchases by 50 percent by 2030, from the 2019 baseline.
Konecranes’ transition plan focuses on expected market
transformations and drivers steering the Company’s own
decisions.
Expected market transformations are based on the
decarbonization of
1) Customer industries. The majority of Konecranes’ value
chain emissions come from the use of sold products
at Business Area Port Solution’s customers globally.
Further electrification of ports and terminals and these
customers’ increasing demand for fully electric ports
equipment is a prerequisite for succeeding in reducing
climate impact downstream in the value chain. The
regulatory environment is seen to support this change.
2) Steel industry. As the current steel production process
is carbon-intensive, there is significant pressure on the
steel industry to decarbonize. Increased availability of
low-emission steel is necessary for achieving climate
impact reductions in upstream of the value chain.
The regulatory environment is expected to push for
green transformation in the steel industry, especially in
Europe.
3) Energy market. According to energy market reports,
the share of renewable energy will continue to increase,
supporting emission reductions in own operations and
in the value chain.
Drivers steering the Company’s own decisions:
1) Electrified offering. Konecranes’ Industrial Equipment
offering is fully electric or manual, whereas the Port
Solutions offering has been steadily expanded with
electric and hybrid products, with the last remaining
diesel-fueled product lines within the lift truck business
to be made available electrically by the end of 2026.
Further development of the electric offering aims
to ensure that the electric variants are attractive to
customers.
2) Low-emission steel. Konecranes challenges its steel
suppliers to set ambitious climate targets and to move
to low-emission steel production. Collaboration with
steel manufacturers is needed to reduce Konecranes’
upstream value chain emissions. Konecranes commits
to purchasing low-emission steel to some extent.
3) Ecodesign and circularity. Konecranes acknowledges
environmental topics in its portfolio management,
including new business innovations and product design.
In the product design process, Konecranes’ Design
for Environment principles are followed to ensure
continuous improvement in the products’ environmental
performance from material selection to the energy
efficiency, durability and maintainability of the product.
Konecranes is committed to circularity by enhancing
resource efficiency, extending lifetimes of the products,
eliminating waste and by aiming to close the material
loops.
4) Decarbonization of own operations. Regarding the
vehicle fleet, the focus is on electrification, downsizing,
as well as on efficient work planning. In manufacturing,
Konecranes continues to invest in energy efficiency
and to increase the share of renewable energy. The
aim is to achieve as significant emissions reductions as
possible. To reach the carbon neutral manufacturing
ambition, the remaining unavoidable emissions will be
offset in 2030.
Konecranes’s GHG emissions reduction targets are in
line with the goal of the Paris Agreement of limiting global
warming to 1.5°C and have been validated by SBTi in 2022
and 2025.
The decarbonization levers identified, and key actions
planned, including changes in the product and service
portfolio and the adoption of new technologies in
Konecranes’ own operations, or the upstream and/or
downstream value chain, are explained in E1-4 Targets
related to climate change mitigation and adaptation.
Konecranes’ investments and funding supporting the
implementation of the transition plan with reference to the
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key performance indicators of taxonomy-aligned CapEx and
OpEx are the following:
Taxonomy-aligned capital expenditure (CapEx):
Konecranes has been investing in climate change mitigation
actions. Aligned with the EU Taxonomy Regulation
2020/852 criteria, Konecranes invested EUR 8 million
in assets that are associated with Taxonomy-aligned
economic activities in the climate change mitigation
objective. This includes, for example, the purchases of new
machinery required for the manufacturing of taxonomy-
aligned equipment.
Taxonomy-aligned operating expenditure (OpEx):
Konecranes’ maintenance and repair costs were EUR 8
million, supporting the manufacture of the Company’s
taxonomy-aligned equipment in the climate change
mitigation objective.
The shares of the EU taxonomy-aligned capital expenditure
(CapEx), operating expenditure (OpEx) and revenue are
expected to remain the same or slightly increase in the
medium term. Konecranes focuses on transforming the
product portfolio towards a low-carbon offering, which will
enhance the alignment of revenue with economic activity
3.6 under the environmental objective of climate change
mitigation. Additionally, the Company aims to grow its
service business, enabling growth in activity 5.1 under the
circular economy objective.
Read more about the EU Taxonomy KPIs in the respective EU
Taxonomy disclosures.
The potential locked-in GHG emissions arise from the
use of diesel-powered equipment by Konecranes’
customers. If the customer industries do not accelerate
their climate actions and fail to favor electrification, the
ongoing reliance on diesel-powered equipment could
significantly hinder both their climate transformation efforts
and Konecranes’ ability to meet its emissions reduction
targets.
Konecranes is not excluded from the EU Paris-aligned
Benchmarks.
For strategy alignment and financial planning, climate
ambition-related considerations are embedded in the most
relevant processes including short-term annual and long-
term planning, mergers & acquisitions, top management
incentives as well as enterprise risk management processes.
Climate-related requirements are embedded in Konecranes’
relevant policies, processes, and standards. For example,
the investment policy gives guidance on considering the
energy efficiency aspect of new investments.
The transition plan has been approved by the Konecranes
Board of Directors and by the Konecranes Leadership
Team.
The implementation of the transition plan has progressed
well for Konecranes’ actions but there is some uncertainty
in the speed of global decarbonization of energy, steel and
customer industries. Konecranes’ climate impact in 2025
totaled 3,058,900 tons of CO2e. Total emissions have
decreased by approximately 20 percent compared to
2019.
In 2025, Konecranes’ Scope 1-2 emissions decreased by one
percent from 2024 and by 54 percent from the base year
2019. Emissions decreased in 2025 mainly due to electrifying
our vehicle fleet. The main contributors since the base year
have been the shift to renewable electricity in manufacturing
and lower fleet fuel consumption due to the successful
downsizing and progress with electrification.
Konecranes’ Scope 3 emissions within the science-based
target boundary limited to the use of sold products and
steel raw material purchases decreased by one percent
year on year, mainly due to changes in delivered product
mix impacting emissions from the use of sold products.
Compared to the base year 2019, these emissions were 20
percent lower.
E1 SBM-3
Material climate-related impacts, risks
and opportunities and their interaction
with strategy and business model
Resilience of strategy and business model in relation
to climate change
The potential impacts of climate change are far-reaching.
Konecranes has reviewed both aspects of climate change
– how climate change affects Konecranes and how the
Company contributes to climate change. The process has
been described in ESRS 2, IRO-1 Description of processes
to identify and assess material climate-related impacts,
risks and opportunities. A resilience analysis has been
conducted alongside the risk and opportunities analysis.
The most relevant climate-related transitional risks
identified are technological development, component
and material availability, and emerging regulation, while the
most severe physical risks are caused by extreme weather
conditions.
When relevant, climate-related risks and opportunities
are considered in Konecranes’ strategic, operational, and
financial planning, including investments in research and
product development.
Resilience regarding climate-related transition
Technological development has been identified as the most
significant transitional risk and opportunity for Konecranes.
Introducing new innovations too early or too late amid rapid
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technological development can create market risks in
case of wrong technological decisions. This applies across
Konecranes’ equipment-related business, but in particular
in the traditional diesel powered products of the Business
Area Port Solutions. In addition, the availability of affordable
components and materials essential for the green transition
has been identified as a material risk.
The transition to a low-carbon society accelerates under a
strong mitigation scenario where global warming remains
below 2°C. In this scenario, the opportunities to increase
sales in Konecranes’ eco portfolio are the greatest while
the appeal of diesel-powered equipment declines. Market
signals, legislative developments, voluntary industry
agreements, and customer feedback all indicate that
the demand for low-emission products and services will
continue to increase. This growing demand presents
significant opportunities – particularly in ports and terminal
industries. Konecranes is committed to electrifying its
offering across all product groups, monitoring technological
advancements, improving the energy efficiency of its
equipment, and developing new services and solutions that
promote circularity, automation and digitalization. However,
the pressure for technological development and investment
needs in carbon-intensive industries may increase the
market risk related to costs. The affordable availability of
green transition-enabling technologies and raw materials,
such as batteries and low-emission steel, is seen as a risk in
this scenario.
In a scenario where global warming exceeds 4°C
Konecranes’ eco portfolio product offering would not be
attractive to its customers in the long term. Konecranes
could lose profitability on the equipment side due to the
heavy focus on electrification.
Konecranes’ service business improves the Company’s
resilience significantly, as its offering is extensive, from
basic maintenance concepts to modernizations and
retrofits. Konecranes’ resilience relating to technological
development is at a good level, as the Company’s offering
is wide and investments in development continue to be a
focus.
Emerging regulations may create a moderate risk,
especially in the medium to long term. Both Konecranes
and its customers will experience changes in the business
environment as they navigate the evolving landscape of
regulations and sustainability requirements. Emerging
regulation might lead to increased cost of energy and
materials, for example, due to increased taxation of
carbon-intensive raw materials or a greater demand
for more sustainable materials. These market risks are
seen as moderate and not considered to be specific to
Konecranes only – they are wider market risks. To minimize
the resource needs, Konecranes applies circular economy
principles and considers production methods that improve
energy efficiency and minimize waste. Other mitigation
activities include, for example, the diversification of the
supplier network and investments in the research on and
development of alternative materials. The Company also
continues to roll out lean manufacturing practices with the
Konecranes Way program. Potential cost increases are
also considered in the pricing of products. The reporting
requirements coming from the regulation are increasing
direct and indirect costs. To mitigate this risk, Konecranes is
closely following regulatory developments.
Konecranes has also examined the potential impacts of
carbon pricing within different emission-level scenarios in
case the Company’s operations would fall directly under
emission trading systems. Konecranes does not see this as
likely to be realized over the short- or medium-term horizon.
Resilience regarding physical climate change
Physical climate risks, such as the increase in extreme
weather conditions like storms, heavy rains, and extreme
heat, could have a potential impact on Konecranes’ own
manufacturing units. In the upstream value chain, extreme
weather conditions could have a potential impact on the
shipment of the goods purchased and in the downstream
on the shipments of Konecranes’ products or spare parts
or crane installations and delivery project sites. The risks
identified in the value chain are not quantified.
The analysis revealed that physical climate risks are expected
to intensify under high-emissions scenarios in the long
term. For example, under RCP 8.5, by 2050, extreme heat
is a growing concern in the APAC and AME regions. These
conditions can impair worker productivity, increase cooling
demand, and strain HVAC systems. Sites in Europe have a
relatively low risk across most hazards.
Konecranes takes advantage of the findings of the physical
climate risk scenario analysis in its risk management.
Konecranes’ manufacturing sites also have continuity plans
in the case of unlikely but high impact events, such as fires.
The continuity plans consider extreme weather events when
they pose a significant risk at the location. Extreme weather
events may also affect occupational health and safety and
labor productivity, which needs to be considered in the local
occupational health and safety planning.
E1-2
Policies related to climate change
mitigation and adaptation
Information about the key content, scope, accountability
for the implementation, and availability of Konecranes’
Environmental Policy Statement can be found in ESRS 2,
MDR-P Policies adopted to manage material impacts, risks
and opportunities.
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Consolidated balance sheet
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Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
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E1-3
Actions and resources in relation to
climate change policies
Key actions taken in the reporting year and planned,
expected outcomes and contribution to policy
objectives and targets
During 2025, Konecranes proceeded with each of the key
drivers in its transition plan.
Electrified offering. In 2025, Konecranes continued the
expansion of the electrified lift truck offering by rolling
out the electric empty container handler in 9-10t range
as well as launching its first electric reach stacker. Recent
product launches also include the new E-Hybrid Rubber-
Tired Gantry (RTG) crane, with a combination of onboard
batteries and busbar or cable reel electricity supply as well
as the Hydrogen Fuel Cell Straddle Carrier. In 2025, the sales
of Konecranes’ Port Solutions equipment eco portfolio,
consisting of fully electrified and hybrid equipment,
accounted for 62 percent of the total sales in the respective
equipment business (2024: 66 percent).
Low-emission steel. Konecranes increased its
understanding of the steel market decarbonization
development and its impact on the Company’s products.
Konecranes already has suppliers providing it with low-
emission steel, namely steel with high recycled content
combined with using fossil-free energy in production. In
2025, Konecranes further investigated alternatives for
purchasing low-emission steel and now offers, in selected
European markets, the possibility to choose a low-
emission steel option for an overhead crane box girder.
Choosing such an option reduces girder material emissions
by 70 percent, and for a full crane the climate impact
is -40 percent according to a cradle-to-gate lifecycle
assessment case study of a specific overhead crane. In
2025 the usage of supplier-specific environmental data
increased. In addition, Konecranes is gradually switching
to using low-emission steel in its gear manufacturing,
starting from gear wheels and shafts. Konecranes is actively
engaging in a dialogue with steel raw material suppliers
regarding their maturity in climate-related topics and
their capability to provide emissions calculations and set
ambitious climate targets.
Ecodesign and circularity. In 2025, Konecranes continued
to implement its Design for Environment principles in
product design and development projects. Konecranes
also continued to study the digitalization of environmental
data, for example, to improve visibility into emissions
in the product design phase. Konecranes has actively
participated in a product carbon footprint-related Product
Category Rules working group for cranes and hoists.
Establishing calculation rules specifically for this product
category improves the efficiency and alignment of the
environmental assessment of products. The emissions
reductions associated with the above-mentioned actions
are not measured at a project level, but their implementation
is expected to contribute to emissions reductions along
Konecranes’ value chain. Konecranes’ key activities for
circularity are listed in E5-2 Actions and resources related to
resource use and circular economy.
Decarbonization of own operations. In 2025, Konecranes
continued to purchase renewable district heating
in Finland and to use HVO100 renewable fuels in the
Hyvinkää, Hämeenlinna, and Markaryd factories. These
three factories also received a CarbonNeutral® building
certification in accordance with The CarbonNeutral Protocol.
Konecranes achieved these certifications by minimizing
internal emissions (Markaryd 99 percent, Hämeenlinna
84 percent, and Hyvinkää 31 percent emission decrease
in 2019–2024) through energy efficiency improvements,
maximizing renewable energy usage and offsetting the
remaining unavoidable emissions through the purchase of
verified carbon credits, which have an immediate impact by
delivering finance to emission reduction projects elsewhere.
In addition, the locations in Wetter, Uslar, and Slaný improved
their heating and insulation systems. Additional measures
taken include machinery upgrades and further LED
installations. These actions are expected to reduce annual
emissions by 1,200 tons of CO₂e. In addition, vehicle fleet
electrification was continued.
Scope of key actions
Konecranes’ key activities related to the decarbonization
of own operations cover 100 percent of its own operations,
while the carbon neutrality target covers only manufacturing
and assembly sites. The key actions in the value chain are
focused on decreasing emissions from the use of sold
products and purchased steel raw material, which cover over
70 percent of total Scope 3 emissions. The scope for both
topics is global, covering all Business Areas.
Financial and other resources allocated to the
actions
The actions enabling the reduction of Konecranes’ emissions
in its own operations and value chain are dependent on
the availability and strategic allocation of resources. For
example, financial investments and access to renewable
energy are required for achieving carbon neutrality in
factories. Emission reductions along the value chain rely, for
example, on the resourcing of product development, skilled
workforce, supplier collaboration, and the availability of
cost-efficient low-carbon materials.
Konecranes directs approximately 20 percent of
its Research and Development (R&D) costs to the
development of low-carbon technologies. This involves,
for example, energy efficiency improvements, automation
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Consolidated cash flow statement
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Board of Directors’ proposal to the Annual
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or circularity-related solutions for Konecranes’ offering. In
2025 the total R&D spend totaled EUR 78.1 million (2024:
59.8), leading to approximately EUR 15.6 million for low-
carbon R&D. The share is based on assessments made in
2024 and 2023.
Additionally, in the beginning of 2023, Konecranes launched
its Zero4 research and innovation program to improve
the industrial productivity and competitiveness of Finnish
companies. This program is partly funded by Business
Finland as a part of its broader “Veturi” program that aims to
significantly boost research, development and innovation
activities in Finland. Konecranes expects the program to
further strengthen the Company’s efforts to decarbonize its
own operations and value chain. Konecranes received EUR
20 million in funding from Business Finland, and in addition
to this grant, Konecranes plans to invest EUR 30 million in
the program during 2023–2028 to continue executing on
its technology vision and sustainability ambitions and to
generate productivity growth.
The CapEx and OpEx that finance Konecranes’ climate
actions are partly included in the Company’s taxonomy-
aligned reporting. For the taxonomy-aligned CapEx
and OpEx, see E1-1 Transition plan for climate change
mitigation.
Topic Scope Target Baseline Base year
Progress towards
target in 2024
Progress towards
target in 2025
Relationship of the target related
to the policy objective
GHG emissions
from own
operations
All (100%) Scope 1 and 2
GHG emissions
SBTi:
-60% by 2030
89,200
tCO
2
e
2019 41,100 tCO
2
e
-54%
40,900 tCO
2
e
-54%
-1% compared to
2024.
Supports Konecranes’ environmental
objectives as outlined in its Environmental
Policy Statement: Reducing greenhouse
gas emissions by improving energy
efficiency and shifting to renewable energy
Scope 1 and 2 GHG
emissions of manufacturing
sites
Carbon neutral by
2030
N/A 10,200 tCO
2
e 10,700 tCO
2
e
GHG emissions
from value chain
Scope 3 GHG emissions
(72%):
Category 1 Purchased
goods and services: steel
raw materials and
Category 11 Use of sold
products
SBTi:
-50% by 2030
2,684,400
tCO
2
e
2019 2,159,300 tCO
2
e
-20%
2,147,000 tCO
2
e
-20%
-1% compared to
2024.
Supports Konecranes’ environmental
objectives as outlined in its Environmental
Policy Statement: Reducing absolute scope
3 value chain emissions by 50% by 2030
(2019 baseline)
E1-4
Targets related to climate change
mitigation and adaptation
Konecranes has set ambitious, science-based climate
targets for 2030. These targets are aligned with the Paris
Agreement’s 1.5°C global warming limit and have been
approved by SBTi. Konecranes has also committed to
setting long-term net-zero targets. In addition to the
targets approved by SBTi, Konecranes has set an additional
climate target which aims for carbon neutral manufacturing
by 2030.
Climate targets:
All targets are measured in tCO
2
e, and internal stakeholders have been involved in setting the targets.
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In 2025 Konecranes recalculated its emission inventories
for the base year (2019) and the most recent year (2024).
The impacts from structural changes like mergers and
acquisitions, methodological improvements and data
quality improvements were included in the baseline. The
impact on absolute Scope 1 and 2 emissions was minimal but
notable for Scope 3 emissions. The most significant changes
to the baseline Scope 3 emissions came from updated
assumptions regarding energy consumption during product
use phase (Category 11, Use of sold products). In addition,
emission calculation accuracy was improved for purchased
goods and services (Category 1) by implementing a CO
2
e
emission module to the procurement reporting solution.
Changes in recalculation did not trigger changes to target
setting.
Konecranes originally set its science-based targets in
2022 and updated them in 2025, as the original Scope 1-2
target was met ahead of schedule. The update resulted
in increasing the ambition level of the own operations
target from a 50 percent to a 60 percent reduction. At the
same time, Konecranes updated the scope of its carbon
neutrality target, from covering all own operations to limiting
it to manufacturing. The main reason for this change is the
external uncertainties concerning the speed of vehicle
fleet electrification by 2030. Konecranes is committed to
reducing emissions from manufacturing as much as possible
and offsetting the remaining emissions in 2030. No changes
were made to Scope 3 target setting.
The progress and performance of emissions (Scope 1 and
2) from Konecranes’ own operations are followed monthly.
Most significant sources of value chain emissions (Scope 3)
are also followed monthly and the rest at least annually.
Climate change mitigation, including emissions reduction,
is assessed to be a material topic for Konecranes. The
key transitional climate risks are related to technological
development, component and material availability, and
emerging regulations, while opportunities arise from eco
portfolio sales, holistic service offering and resource
efficiency. The Company’s GHG emissions targets have
been set to mitigate risks and seek opportunities by
choosing relevant emission categories in the scope of the
target.
Konecranes’ GHG emissions inventory and accounting
practices are in line with the GHG Protocol Corporate
Standard. The operational control approach is applied to
allow Konecranes to account for 100 percent of emissions
where it has the authority to influence operating policies
and reduce emissions. For Scope 2, the emissions reduction
target follows the market-based method. Konecranes
systematically reviews the potential update needs of the
GHG emissions inventory to reflect potential changes in its
own operations or the value chain.
External factors such as pandemics did not affect
Konecranes’ energy consumption in the target base year
2019. According to the World Meteorological Organization,
the years 2015–2023 were the nine warmest years on record.
Besides the general temperature increase, there were no
major abnormal weather conditions during 2019.
Konecranes has prepared roadmaps on how to meet the
climate targets. These roadmaps are aligned with the
business growth assumptions of the Company as well as
expected market transformations, including regulatory
factors, explained in the E1-1 Transition plan for climate
change mitigation – customer industries electrification as
well as steel industry and energy market decarbonization.
Expected decarbonization levers to achieve
emissions reduction targets
Aligned with the climate transition plan, Konecranes sees
that transformation in the market environment as well as in
Konecranes’ operations are needed to achieve emission
reduction targets. The following decarbonization levers
include both viewpoints. The quantified contributions from
the expected decarbonization levers have been updated
to reflect targeted emission reduction from 2024 to 2030.
The following actions are due by 2030, unless otherwise
stated.
Electrified offering and customer industries’ decarbonization.
The most significant decarbonization lever is electrifying
the offering in Port Solutions and enabling customers’
transition to low-emission material handling solutions.
Konecranes is committed to having fully electric variants of
its entire product portfolio by the end of 2026. To achieve
significant emissions reductions, the market will need to
transform and the interest in electrifying operations within
the ports and terminals industry needs to increase. The
decarbonization potential from electrification has been
estimated to be approximately 20 percent of the total 2024
value chain emissions in the scope of the science-based
target.
Low-emission steel and steel industry decarbonization.
Emissions related to purchased steel raw material depend
on the annual purchase volume and material decisions.
From 2024 until 2030 the decarbonization potential has
been estimated to be at least 10 percent of the 2024
steel raw material purchase emissions, or one percent of
Konecranes’ total value chain emissions in the scope of the
science-based target. The potential has been estimated
based on steel manufacturers’ GHG emissions reduction
targets and Konecranes’ aspiration to increase its use of
low-emission steel. Steel supply chains are long and it is
challenging to receive accurate and comparable emission
data from suppliers.
Energy market decarbonization. Several scenarios for
energy market decarbonization have been evaluated, and
their impact on Konecranes’ emissions from the use of sold
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products has been estimated to be around 10 percent of
the total 2024 value chain emissions in the scope of the
science-based target.
Ecodesign and circularity. Konecranes aims for all new
solutions to be more sustainable than the previous
generation. The Design for Environment (DfE) process,
combined with the product Life Cycle Assessment
(LCA) methodology, is followed in product design and
development projects to improve energy and material
efficiency as well as the maintainability of products.
Planned energy efficiency improvements, such as reducing
standby power consumption and improving motor
efficiency, are expected to be significant for electrified
products while the impact on total value chain emissions
is low. From 2024 until 2030, Konecranes estimates that
the impact from these actions is approximately four
percent of the total value chain emissions in the scope of
the science-based target. In addition, there are several
activities which reduce the emissions in the value chain
but are not quantified in the emission calculations, such as
modernizations and retrofits.
Decarbonization of own operations. Konecranes continues
to invest in energy efficiency and fleet electrification
and to increase the share of renewable energy in its own
operations, having direct impact on Scope 1 and 2 GHG
emissions. In the short term, Konecranes expects to reach
further emissions reductions especially by continuing
to invest in energy efficiency, electrifying vehicles, and
further increasing the share of renewable energy in its own
operations.
Scope 3 emissions are mostly affected by the sold product
mix and their prime power technology (fully electrified,
hybrid, or diesel). Konecranes seeks to develop new
technology applications and innovations to reduce
dependency on fossil fuels and to increase energy
efficiency. Some customers have adopted biodiesel (HVO)
in diesel-powered equipment in their current fleet while
simultaneously focusing on electrifying new equipment.
However, the use of HVO is not recognized in Konecranes’
emissions figures yet. Konecranes is also prepared to
support its customers with hydrogen solutions which will
have significant emissions reduction potential, like the
electrified and hybrid offering.
To determine the decarbonization levers, Konecranes has
considered different climate scenarios. Read more about
these scenarios in Resilience of strategy and business
model in relation to climate change from E1 SBM-3 Material
climate-related impacts, risks and opportunities and their
interaction with strategy and business model.
These climate scenarios have also been considered to
detect relevant environmental, societal, technological,
market and policy-related developments. Regarding
technological developments, Konecranes monitors
advancements in low-emission technologies and
innovations that can enhance energy efficiency and reduce
emissions in its manufacturing processes and products. In
terms of market developments, Konecranes has analyzed
the shift in market demand towards more sustainable
products and services, identifying opportunities to meet
these preferences through its offerings. Konecranes also
monitors emerging regulations and policies aimed at
reducing GHG emissions.
In terms of environmental developments, Konecranes
assesses the implications of changing climate patterns,
such as increased frequency of extreme weather events
and long-term shifts in temperature, for its operations.
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Energy consumption and mix, MWh 2024 2025
Total energy consumption 246,800 246,100
Total fossil energy consumption 181,300 181,500
Fuel consumption from coal and coal products 0 0
Fuel consumption from crude oil and petroleum products 128,300 124,900
Fuel consumption from natural gas 39,900 44,900
Fuel consumption from other fossil sources 5,300 5,800
Consumption of purchased or acquired electricity, heat, steam,
and cooling from fossil sources
7,800 5,800
Share of fossil sources in total energy consumption (%) 73% 74%
Consumption from nuclear sources Not material Not material
Share of consumption from nuclear sources in total energy
consumption (%)
Not material Not material
Total renewable energy consumption 65,500 64,600
Fuel consumption from renewable sources 4,100 3,100
Consumption of purchased or acquired electricity, heat, steam,
and cooling from renewable sources
59,900 59,700
Consumption of self-generated non-fuel renewable energy 1,500 1,800
Share of renewable sources in total energy consumption (%) 27% 26%
2024 2025
Change year-
on-year, %
Energy intensity, MWh per million EUR 48 49 2%
Net revenue from activities in high climate
impact sectors used to calculate energy
intensity per million EUR
2,442.5 2,416.6 -1%
Net revenue (other) in million EUR 1,784.5 1,771.2 -1%
Total net revenue in million EUR (Financial
Statements)
4,227.0 4,187.8 -1%
E1-5
Energy consumption and mix
Disaggregation of total energy consumption from fossil sources
Energy intensity in relation to sales in high climate impact sectors
High climate impact sectors used to determine energy intensity
Konecranes operates within an industry classified with NACE code C28.22 Manufacture of
lifting and handling equipment, which is considered a high climate impact sector according
to the ESRS Annex 2. Konecranes’ equipment offering is included in this sector and in the high
climate impact sectors’ energy intensity calculation. The service operations are excluded, as
they are considered to have a positive impact by contributing to a circular product offering
and extended lifetime.
The energy intensity figure for high climate impact sectors is based on energy consumption
at the manufacturing sites. In 2025, energy consumption in equipment manufacturing was
117,700 MWh (2024: 116,200 MWh). The net revenue used for the energy intensity for high
climate impact sectors is based on equipment sales.
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E1-6
Gross Scopes 1, 2, 3 and Total GHG emissions
2019 target
base year 2024 2025
Change year-
on-year, %
2025 compared to
base year 2019, %
Scope 1 GHG emissions
Scope 1 GHG emissions tCO
2
e 56,200 38,200 38,400 0% -32%
Percentage of Scope 1 GHG emissions from regulated emission trading schemes 0% 0% 0% 0% 0%
Scope 2 GHG emissions
Scope 2 GHG emissions tCO
2
e (location-based) 26,000 17,800 17,400 -2% -33%
Scope 2 GHG emissions tCO
2
e (market-based) 33,000 2,900 2,500 -14% -92%
Significant Scope 3 GHG emissions
Total scope 3 GHG emissions tCO
2
e 3,714,200 3,035,600 3,018,000 -1% -19%
1 Purchased goods and services 1,099,100 828,800 817,800 -1% -26%
3 Fuel and energy-related activities (not included in Scope 1 or Scope 2) 16,600 13,400 13,200 -2% -21%
4 Upstream transportation and distribution 123,100 142,200 153,900 8% 25%
5 Waste generated in operations 800 300 200 -24% -74%
6 Business traveling 12,600 13,500 7,900 -42% -38%
11 Use of sold products 2,462,000 2,037,500 2,025,100 -1% -18%
Total GHG emissions
Total GHG emissions (location-based) (tCO
2
e) 3,796,400 3,091,500 3,073,900 -1% -19%
Total GHG emissions (market-based) (tCO
2
e) 3,803,400 3,076,600 3,058,900 -1% -20%
Konecranes’ greenhouse gas emissions
Konecranes’ climate targets and their progression are disclosed in E1-4 Targets related to climate change mitigation.
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Methodologies, significant assumptions and
emissions factors
Konecranes’ emission inventory has been calculated
according to the GHG Corporate Accounting and Reporting
Standard, the GHG Protocol Scope 2 Guidance, and the
Corporate Value Chain (Scope 3) Accounting and Reporting
Standard.
In the Group’s reporting for 2025, energy consumption
and emissions (Scope 1 and 2) from Konecranes’ own
operations are calculated on a rolling 12-month basis
using the previous year’s December data due to data
availability at the time of consolidation. A specific reporting
tool is used to consolidate energy use data and calculate
emissions from own operations. A similar approach is used
for related Scope 3 emissions (Cat 1 Water consumption,
Cat 3 Fuel and energy related activities and Cat 5 Waste in
own operations).
Scope 1
Scope 1 includes emissions from direct energy usage: diesel,
petrol, ethanol, HVO100, natural gas, LPG consumption
and refrigerants. Emissions are calculated using DEFRA
emissions factors.
Konecranes’ Scope 1 GHGs cover carbon dioxide (CO
2
),
methane (CH
4
), nitrous oxide (N
2
O), hydrofluorocarbons
(HFCs), perfluorocarbons (PFCs), sulfur hexafluoride (SF
6
)
and nitrogen trifluoride (NF
3
). Scope 2 emissions cover CO
2
,
CH
4
and N
2
O.
In 2025, the biogenic emissions of CO
2
in Konecranes’ own
operations originated from the use of biofuels in leased
vehicles and lift trucks. The biogenic emissions amounted to
800 tCO
2
(2024: 1,100 tCO
2
).
Scope 2
Scope 2 includes purchased electricity and district heat.
Emissions are calculated according to the GHG Protocol
Scope 2 Guidance dual reporting requirement: location-
based and market-based method. The IEA and national
energy statistic emissions factors are used in calculations.
The consumption of natural gas, liquid petroleum gas (LPG)
and district heat in service operations and certain offices
is excluded from the reporting as not material. The largest
service offices report on their electricity consumption,
while the rest of the offices’ electricity consumption is
extrapolated by using the employee headcount.
Since 2022, Konecranes’ manufacturing sites have
purchased only renewable electricity. In addition, the
Company’s sites in Hämeenlinna and Hyvinkää, Finland,
started to purchase renewable district heating in 2023.
To confirm the origins of the energy, Konecranes uses
International Renewable Electricity Certificates (I-RECs),
Renewable Electricity Certificates (RECs) and Guarantees of
Origins (GOs) and direct contracts with suppliers.
In 2025 the I-RECs and GOs bundled directly with supplier
contracts accounted for 53 percent of Konecranes’
renewable electricity and district heating consumption. The
remaining renewable electricity and district heating was
covered by centrally purchased unbundled I-RECs, RECs
and GOs.
Biogenic emissions associated with purchased energy are
not available.
Scope 3
In Scope 3 calculations, emissions factors that cover
carbon dioxide (CO
2
), methane (CH
4
), nitrous oxide (N
2
O),
hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), sulfur
hexafluoride (SF
6
) and nitrogen trifluoride (NF
3
) are mostly
used. For transportation and distribution, as well as fuel- and
energy-related activities, CO
2
, CH
4
and N
2
O are covered.
Konecranes follows the GHG protocol in Scope 3 emissions
calculations and considers that primary data is used only if
emissions factor data is obtained from value chain partners
and the volume data is primary. Based on this logic, the total
share of primary data for Scope 3 emissions is approximately
three percent. This consists of upstream transportation and
distribution data received from logistics service providers,
travel data received from travel agencies, and supplier-
specific emission factors for selected purchased goods
and services. The full Scope 3 emission inventory is based on
primary volume or monetary data, which ensures adequate
accuracy also for metrics with secondary emissions factors.
Secondary emissions factors are from reliable sources such
as DEFRA, IEA, EcoInvent, WorldSteel and Exiobase.
Konecranes has started to develop Scope 3 calculation
methods further, including revision of secondary data used
in the calculations. The focus is especially on developing
primary data collection from suppliers to improve the
accuracy of emissions from purchased goods and services.
The progress is still slow.
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Konecranes has excluded some Scope 3 GHG emission
categories from the inventory, for following reasons:
• Emissions are reported in Scope 1 or in another Scope 3
category:
– Cat 8 Upstream leased assets: Included in Scope 1.
– Cat 13 Downstream leased assets: Included in Scope 3
Cat 11 Use of sold products.
• Category is not relevant for Konecranes’ business:
– Cat 10 Processing of sold products: Konecranes does
not sell intermediate products that need to undergo
significant further processing before end-use.
– Cat 14 Franchises: Konecranes does not have franchises
as a part of its business model.
• Emissions are immaterial, totaling one percent of Scope 3
emissions:
– Cat 2 Capital goods
– Cat 7 Employee commuting
– Cat 9 Downstream transportation
– Cat 12 End-of-life treatment of sold products
– Cat 15 Investments
Biogenic emissions are excluded from Scope 3 calculations
due to their estimated minor impact. While logistics
providers may use biofuels such as biodiesel, no agreements
are in place for such fuels, and usage is expected to be low.
The relevance of including biogenic emissions is reviewed
annually.
Scope 3 related calculation methodologies, significant assumptions, and
used emission factors are disclosed in the table below.
Scope 3 category Methodology, significant assumptions and emission factors
1 - Purchased goods and services When available, emissions are calculated based on primary purchase volume data and EcoInvent,
WorldSteel and supplier-specific emission factors. If volume data is not available, then primary
monetary purchase data is used, adjusted with the inflation rate and Exiobase country-specific
emission factors.
Emissions for water consumption are calculated based on primary water consumption volume and
DEFRA water supply emissions factor.
3 – Fuel and energy related
activities not included in
Scope 1 or Scope 2
Upstream and transmission & distribution emissions from purchased fuels, electricity, and heat are
calculated using actual consumption volumes and DEFRA’s well-to-tank (WTT) and IEA’s life-cycle
emission factors.
4 – Upstream transportation and
distribution
Emissions are primarily calculated using reports from main logistics service providers, based on
transportation mode, distance, and well-to-wheel (WTW) emission factors. For providers without
emission reports, emissions are extrapolated using average emission intensity by transportation mode.
5 – Waste generated in operations Emissions are calculated based on primary waste and water volume data and DEFRA waste disposal
and water treatment emission factors. Primary waste volume data includes information on waste type
and treatment method.
6 – Business travel Emissions from business travel are calculated using reports from travel agencies, based on travel
distance and method, and follow a well-to-wheel (WTW) approach. For travel not arranged through
agencies, a small portion of flight emissions is extrapolated using the same emission intensity.
11 – Use of sold products Emissions are calculated based on primary delivery volume data, product-specific energy data,
use rate, lifetime estimate (10–30 years), and IEA global electricity emission factor and DEFRA fuel
production and combustion emission factor. The calculation does not consider customers’ potential
use of biodiesel (HVO) or renewable electricity. Emissions from downstream leased assets are included
in this category with the same methodology.
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Organizational boundaries in Scope 3 reporting
Konecranes has not had any significant changes in the
definition of what constitutes the reporting undertaking
and value chain. Konecranes does not have joint ventures or
equity accounted investments under its operational control.
The joint ventures and equity accounted investments
are accounted for as suppliers or investments in Scope 3
emissions.
For the net revenue used in the intensity calculation, see
Consolidated statement of income (Sales) in the Financial
Statements.
E5
Resource use and circular economy
E5-1
Policies related to resource use and
circular economy
Information about the key content, scope, accountability
for the implementation, and availability of Konecranes’
Environmental Policy Statement can be found in ESRS 2
MDR-P Policies adopted to manage material impacts, risks
and opportunities.
E5-2
Actions and resources related to
resource use and circular economy
Konecranes’ key activities in 2025:
Business opportunities: Konecranes has a target to assess
at least three new circular business opportunities each
year. The Company started three new studies: an alternative
design of a main girder, reuse of service van shelves and
waste management improvement at factories. A process
to reuse service van shelves was implemented in Finland.
In addition to the studies, the Company continued to run
its research and innovation program Zero4. Konecranes
expects the program to further strengthen the Company’s
efforts to decarbonize its own operations and value chain,
as well as to accelerate circularity. As part of the Zero4
program, the Company worked with DareX, the research
project focusing on data-based circularity strategies. More
information about Zero4 can be found in E1-3 Actions and
resources in relation to climate change policies.
Material selection: In 2025 Konecranes started to collect
supplier specific information to better understand the
GHG emissions intensity in relation to sales
2024 2025
Change
year-on-
year, %
Total GHG emissions intensity
(location-based) (tCO
2
eq per
million EUR)
700 700 0%
Total GHG emissions intensity
(market-based) (tCO
2
eq per
million EUR)
700 700 0%
recycled content of steel. The other focus raw materials were
batteries and packaging.
HSE Excellence and Lean: Konecranes’ own work is driven by
its HSE Excellence program. Within the program, Konecranes
continued to implement its own Global HSE standards, which
include waste and resource management. Konecranes’
Planet-Saving behaviors define specific behaviors the
Company is expecting from all employees. During the year,
global internal communication campaigns were organized
to promote energy efficiency and resource efficiency
among all employees. In addition, the Company started to
integrate environmental measures more closely into lean
tools and development programs to strengthen the impact
of taking environmental aspects and resource efficiency into
consideration in continuous improvement initiatives.
The scope of Konecranes’ key actions encompasses
Konecranes’ product development, including R&D and
manufacturing units globally. Konecranes’ innovation work
and pilot projects on circular business models are focused
on the European region. If realized as business activity, these
projects would be extended globally. The work towards
circularity is continuous, and the priorities are reviewed
annually at a minimum. Project plans are established
for circular business opportunity studies and bigger
development projects.
Financial resources linked to the substantial contribution
of the EU Taxonomy Activity 5.1 Repair, refurbishment and
remanufacturing are crucial in enabling a circular economy. In
2025, Konecranes’ operating expenditure (OpEx) was EUR 2
million (2024: 3 million) for repair and maintenance activities
in the field service business. Konecranes invested EUR 20
million (2024: 22 million) as capital expenditure (CapEx) in
service vehicles, which are needed for repair, refurbishment
and remanufacturing work.
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Consolidated cash flow statement
Notes to the consolidated financial statements
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Board of Directors’ proposal to the Annual
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Auditor’s report
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E5-3
Targets related to resource use and
circular economy
To accelerate circular innovations, Konecranes has a
voluntary target to assess at least three new circular business
Topic Scope Target Baseline Base year
Progress towards
target in 2024
Progress towards
target in 2025
Relationship of the target to the
policy objective
Circular economy
business
opportunities
Measured by the number
of new circular economy
business models
assessed. Considers all
own operations, as well as
upstream and downstream
value chains. These
opportunities consider
both environmental
impacts (validated by LCA)
and business benefits,
adhering to ISO 14040-44
standards.
To assess at
least three new
circular economy
business
opportunities
annually.
3 Annual target
in place since
2022.
Assessed three
(3) new circular
economy business
opportunities, all of
which focused on
increasing the use of
circular materials.
3 studies started. Supports Konecranes’ environmental
objectives as outlined in its Environmental
Policy Statement:
1. Maximizing the lifecycle value of products
and service solutions.
2. Reducing waste and maximizing the
recycling rate.
3. Improving resource efficiency by
minimizing raw material use and water
consumption.
opportunities each year. Circular economy is one of the key
focus areas in Konecranes’ transition plan for reaching the
science-based climate targets, but the specific targets
related to resource use and circular economy shown below
are not based on conclusive scientific evidence.
In 2025 Konecranes reviewed its circularity metrics and
targets. As a result, the Company introduced two new KPIs:
Revenue linked to circular services and share of landfill waste
in manufacturing operations.
Konecranes has involved internal stakeholders in the
target-setting process. This includes discussions between
functions and business units. The Company regularly
monitors and reviews its performance against the disclosed
targets. Progress is reported annually at the minimum. To
date, the performance has generally been aligned with the
planned milestones.
The target to assess circular business opportunities
considers all own operations, as well as upstream and
downstream value chains. Business opportunities can relate
to several aspects such as product design, new circular
business models, resource efficiency or an increase in
circular material use rate.
In addition to the targets, Konecranes has defined the
following KPIs supporting the Company in following the
progress related to resource use and circular economy:
• Revenue linked to circular services. The Company’s
aim is to increase the lifespan of its products and to
integrate design features that facilitate easier repair
and maintenance with minimal resource use. This KPI
measures revenue originating from Service offering that
extends the lifetime of customers’ equipment. Data is
assessed and reported on a quarterly basis. In 2025,
Konecranes’ revenue from circular services was EUR 1,655
million or 40 percent of the Group’s total revenue.
• Share of recycled steel used in the Company’s
products. In 2025 Konecranes started to collect supplier
specific information on the share of recycled steel and
improved the metric’s calculation method: Supplier data
is used when available. If supplier specific information
is not available, country averages are used. The share
of recycled steel in Konecranes’ steel purchases is 47
percent (2024: approx. 40).
• Recycling rate of waste generated in manufacturing
operations. Waste information is collected
systematically, and results are calculated annually.
In 2025, the recycling rate was 87 percent (2024:
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Consolidated cash flow statement
Notes to the consolidated financial statements
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Board of Directors’ proposal to the Annual
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86), including waste directed to recycling, reuse, or
composting.
• Share of landfill waste in manufacturing operations.
Calculated as percentage of manufacturing waste
sent to landfill relative to the total manufacturing waste
produced. In 2025, the share of landfill waste was 4.7
percent.
E5-5
Resource outflows
Circular services represented 40 percent of Konecranes’
revenue. The main services included are repairs,
maintenance and spare parts, modernizations and retrofits
as well as remote services. Regular maintenance and repair
services with spare parts are needed to keep equipment
and components in use, for safety and productivity.
This helps in reducing downtime and lengthening
equipment lifetime in a resource-efficient way. Predictive
maintenance utilizes advanced inspections and data
analytics enabling component-specific predictions and
prioritizing recommendations and actions. This means that
maintenance can be carried out based on actual conditions
and planned around production schedules, making repairs
more targeted and resource efficient.
Retrofits and modernizations are about upgrading
old equipment with new state-of-the-art technology.
A significant upgrade for an existing crane can be an
alternative to replacing it with a new one. It also allows the
introduction of new technology that did not exist before.
Modernizing an old crane instead of replacing it with a new
one can save hundreds of tons of steel.
Konecranes’ digital services play a key role in achieving
improved performance. Through optimized maintenance
needs, spare parts management, extended equipment
lifecycles, and accurate failure predictions, Konecranes’
customers can improve their operational efficiency,
reduce their environmental impact and increase their cost
effectiveness.
Given the limited research currently available on cranes’
life spans, the industry averages for different product
groups are not available. ISO 12482:2014 defines the typical
operational period for industrial cranes as 10–20 years. The
standard does not separate different product groups.
Konecranes’ products are designed for a long lifetime as
well as for maintainability. A crane’s lifetime depends heavily
on different factors such as the type of load, the number
of lifting cycles and the maintenance of the product. The
expected lifetime of the Company’s cranes is generally 10
to 30 years.
Konecranes’ product design emphasizes modularity
and easy access to critical components, facilitating
straightforward repairs and reducing downtime.
Konecranes also ensures that the repaired parts are
readily available to support efficient maintenance and
possible upgrades. The spare parts or replacement kits are
available for many years, making it possible to keep older
cranes in operation. Modernizations enable new features
to be added to existing cranes. The Company has several
repair shops that can repair crane components and even
complete cranes.
On average, the rate of recyclable content in products is 91
(2024: 92) percent of the total weight of materials.
The estimated rate of recyclable content in plastic
packaging in 2025 is 99 percent (2024: 99), based on
information collected from purchased packaging materials
in 2022. The rates of recyclable content in other packaging
materials are not currently available.
The product lifetime projections mainly follow data-based
design working period calculations (DWPs) from the field. In
addition, in certain product categories, a scenario-based
approach to reaching the expected design number of
cycles has been used to estimate product lifetimes.
3. SOCIAL INFORMATION
S1
Own workforce
S1 SBM-3
Material own workforce-related
impacts, risks and opportunities and
their interaction with strategy and
business model
Konecranes is committed to fostering a fair, inclusive and
diverse working environment where everyone is treated with
respect. The Company’s strategy focuses on enhancing a
winning culture, including building a culture of continuous
learning, where people are supported and encouraged
to develop and grow every day. Operating in industrial,
international business brings along some material impacts,
such as impacts on people’s health and safety, as well as
pressure on working times.
No topic or sub-topic related to own workforce was
deemed material from the financial risks and opportunity
perspective, and therefore Konecranes does not disclose
the relationship between its material risks and opportunities
arising from impacts and dependencies on its own
workforce and strategy and business model. Konecranes
has not identified any material impacts on its own workforce
that may arise from transition plans for reducing negative
impacts on the environment. Additionally, Konecranes has
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not identified its own operations as being at a significant
risk of incidents of forced labor or compulsory labor or
incidents of child labor.
Own workforce at Konecranes consists of employees and
non-employees. The latter include both self-employed
people and people provided by third-party undertakings
primarily engaged in employment activities. All employees
who could be materially impacted by Konecranes are
included in the scope of this Sustainability Statement.
Non-employees who could be materially impacted are
mainly not in the scope of the statement, but they are
separately mentioned when covered by specific disclosures.
Health and safety impacts are most relevant for people
working in operative roles, whether they are employees or
non-employees. Especially people working at factories, in
crane and equipment installation, and in service business,
where the working conditions of the technicians vary, are
subject to negative health and safety impacts. Additionally,
employees who are required to drive a lot due to their job
duties have a higher risk of vehicle incidents.
Employees working either in operative or office roles
are occasionally subject to negative impacts caused by
excessive working hours. Both types of employees benefit
from the positive impacts of training and skills development,
and inclusion and diversity.
Regarding the negative impacts, Konecranes considers
health and safety impacts to be caused by individual
incidents. The impacts caused by excessive working hours
can be seen as a widespread risk potentially causing health
and safety issues.
In terms of negative impacts, Konecranes’ health and
safety and people processes help in understanding how
particular groups of people may be at a greater risk of harm.
For example, the knowledge on the people at a particular
risk of negative health and safety impacts is based on the
Company’s health and safety management system and risk
assessment processes. There are specific processes to
ensure that the work is done safely, especially in hazardous
environments such as nuclear and waste treatment facilities.
Konecranes’ people processes, such as employee surveys,
create understanding of employees particularly affected by
excessive working hours.
On a positive note, Konecranes’ focus on inclusion is creating
a positive impact on all employees. Related to training and
skills development, all employees have an opportunity for a
personal development discussion and a certain amount of
training.
S1-1
Policies related to own workforce
Information about the key content, scope, accountability
for the implementation, and availability of Konecranes’
Human Rights Policy, Health and Safety Policy Statement,
Inclusion & Diversity Policy Statement and Fair Labor Frame
can be found in ESRS 2 MDR-P Policies adopted to manage
material impacts, risks and opportunities.
Human rights policy commitments relevant to own
workforce
Konecranes has made commitments relevant to its own
workforce in the Company’s Human Rights Policy. The
commitments are: Konecranes respects and supports
human rights, conducts risk-based human rights due
diligence, maintains effective concern-raising mechanisms,
and seeks to provide remedy.
Konecranes is committed to operating in a manner
consistent with internationally recognized human rights
as defined in the International Bill of Human Rights and the
International Labour Organization’s (ILO) Declaration on
Fundamental Principles and Rights at Work (ILO principles
covering occupational safety and health; freedom of
association and collective bargaining; non-discrimination
in employment and occupation; elimination of slavery and
forced labor; and abolition of child labor).
Konecranes engages with affected people in its own
workforce as part of its human rights due diligence.
If Konecranes causes or contributes to negative human
rights impacts, the Company seeks to provide access
to remedy for the affected people as documented in
Konecranes’ Human Rights Policy and the investigation
process.
Trafficking in human beings, forced labor or
compulsory labor and child labor, and alignment
with internationally recognized standards
relevant to own workers
Konecranes’ Human Rights Policy is aligned with the key
principles of the United Nations Guiding Principles on
Business and Human Rights (UNGP) by following UNGP
expectations for a structure of a due diligence process
and by stating a commitment to maintain effective
concern-raising mechanisms and to seek to provide
remedy.
Konecranes’ policies explicitly forbid forced labor and
child labor.
Workplace accident prevention
Konecranes’ Health and Safety Policy Statement describes
the commitments and objectives for managing health
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Consolidated cash flow statement
Notes to the consolidated financial statements
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Board of Directors’ proposal to the Annual
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and safety. These topics are driven by the Health, Safety
and Environmental Excellence Program that focuses on
three areas: Life-Saving Behaviors; Global Health, Safety
and Environmental Standards; and Certified Management
Systems, which are certified by ISO 45001.
Policies aimed at elimination of discrimination
The Code of Conduct states the expectation of Konecranes
being an equal opportunity employer and prohibits any form
of discrimination. The Inclusion and Diversity Policy Statement
discloses Konecranes’ aim to create an inclusive working
environment where people from all backgrounds feel trusted,
can thrive by working in a psychologically safe environment
and have equal opportunities to succeed, including people
from groups at particular risk of vulnerability. In 2025, the
Inclusion and Diversity Policy Statement was updated.
Furthermore, Konecranes’ Talent Acquisition and Recruitment
Policy aims to ensure that a diverse talent funnel is part of the
recruitment practices and that Konecranes provides equal
opportunities to people with different backgrounds.
Konecranes’ Inclusion and Diversity Policy Statement
and Code of Conduct state that the Company does not
tolerate any discrimination based on reasons such as the
employee’s race, religion, color, gender, gender identity,
sexual orientation, age, marital status, family situation,
national origin, national extraction or social origin, citizenship,
political opinion, trade union membership, disability (where
the applicant or employee is qualified to perform the
essential functions of the job with or without reasonable
accommodation) or other forms of discrimination covered
in relevant regulations and laws. The Company does not
tolerate any form of harassment.
The execution of the Inclusion and Diversity (I&D)
commitments takes place through the Company’s strategy, as
they are closely aligned with Konecranes’ strategic enablers.
Konecranes’ ambition is to build an organization comprised
of the right skills, talent, and competencies by embracing the
benefits of diverse backgrounds, ideas and perspectives.
Therefore, all the aspects of diversity are considered. For
that reason, Konecranes’ I&D agenda is embedded into the
Company’s processes and embraced by the business. The
use of common and objective criteria for rewarding people
for their work is reinforced, and the Company is committed to
ensuring pay equity to its employees in accordance with local
requirements, EU directives, and other relevant regulations
globally. Konecranes embraces pay equity not only because
of the legislation, but because it is part of the Company’s
equality principles.
Konecranes emphasizes positive actions that promote
inclusivity for all, generate awareness, acknowledge the
relevance of cognitive diversity and prevent discrimination
by actively addressing unconscious biases.
Konecranes does not tolerate any form of harassment. The
Company’s Code of Conduct defines the principles and
processes to protect our employees. Konecranes’ I&D agenda
implementation is managed and driven by the Business Areas,
Business Units and country organizations locally guided by the
Chief Inclusion and Diversity Officer on the Group level. On the
local level, through the Supervisory Boards of the legal entities,
Konecranes ensures that I&D actions are part of local agendas
and conform with local legislations. The aspirations are defined
to make the improvement journey visible and to guide us
towards a truly inclusive environment.
S1-2
Processes for engaging with own
workers and workers’ representatives
about impacts
Konecranes holds regular town hall meetings and conducts
employee surveys. The local health & safety committees and
local employee committees engage with the Company’s
own workers and workers’ representatives to incorporate
employee feedback into decisions to address potential
workforce impacts. Additionally, Konecranes maintains open
communication channels with workers’ representatives to
discuss and address any other concerns that may arise on a
day-to-day basis.
The engagement occurs both directly with Konecranes’
workers and through their representatives, such as works
councils, employee representatives or unions, wherever
they exist. The engagement happens at various stages,
including during the planning, implementation, and review
phases of projects and policies, and the frequency varies
from monthly resource group meetings, quarterly town halls
and semiannual surveys to needs-based discussions related
to specific issues. The Executive Vice President, People
& Culture, holds operational responsibility for ensuring
effective engagement with the Company’s own workforce,
oversees the implementation of engagement strategies, and
ensures that feedback is integrated into the organizational
approach.
Konecranes has signed an agreement with its European
employees to establish a European Works Council (EWC)
that ensures respect for human rights, facilitates regular
engagement and reviews and consults with employees
about important matters. The parties have taken into
consideration the Directive of the Council of Europe (Council
Directive 94/45/EC) on the establishment of a European
Works Council.
The effectiveness of Konecranes’ engagement with its
own workers is assessed using various methodologies.
They include analyzing employee surveys to identify trends
and areas of improvement, monitoring participation rates
in surveys, focus groups and town hall meetings as an
indicator of engagement, and tracking voluntary employee
turnover.
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Notes to the consolidated financial statements
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Steps taken to gain insight into particularly
vulnerable people’s perspectives
The Company actively seeks input from vulnerable and
potentially marginalized employee groups through some of
the employee surveys that gather feedback from employees
about their experiences and perceptions related to
workplace inclusivity. Konecranes supports and encourages
the formation of local Employee Resource Groups, in
alignment with local legislation, that provide a platform and
an opportunity to improve inclusive practices for vulnerable
employees.
Relating to gender diversity, many local Employee Resource
Groups have been formed to support the advancement of
gender equity and inclusion, in alignment with the local laws
and regulations.
The Company has improved awareness of inclusive culture
within the organization through a robust learning offering and
communication.
S1-3
Processes to remediate negative
impacts and channels for own
workforce to raise concerns
If Konecranes causes or contributes to negative human
rights impacts, the Company seeks to provide access to
remedy for the affected people either using the Company’s
own resources or by cooperating in remediation through
legitimate processes, for example, by removing risk
factors, supporting the persons involved and by preventing
retaliation, if applicable. The need for remedy is always
considered in relation to investigations having a human
rights aspect as part of the corrective and remedial actions
consideration, including the follow-up to ensure that the
necessary action is taken.
The impacts and effectiveness of remedy are assessed in
connection with the investigation process, for example,
by monitoring the possible reoccurrence of such negative
impacts.
Konecranes encourages its employees and any external
stakeholders to report all concerns relating to Konecranes,
without fear of retaliation. The Company has a specific
reporting channel in place, the Whistleblowing Channel,
which can be used to report all kinds of compliance and
ethical concerns. Where required by local laws, Konecranes
also has local reporting channels in place, which are
managed in accordance with local laws. Read more about
the whistleblowing channels, the processes to support
the availability of these channels as well as the internal
investigations in G1-1 Business conduct policies and
corporate culture. In addition, Konecranes has an internal
health, safety and environmental reporting tool as well as
local health and safety committees for raising any health and
safety concerns and observations.
Grievance or complaints relating to employee matters
that relate to actual or suspected breaches of law or the
Company’s policies are handled in line with the Group’s
investigation process. Otherwise, local complaint
handling processes on employee matters are led by
the People & Culture function and are aligned with the
requirements of unions or works councils, as well as
applicable laws.
Health and safety related incidents, near-misses and
observations are followed through the health, safety and
environmental reporting tool and local health and safety
committees.
The health, safety and environmental reporting tool is open
to all employees and non-employees (Konecranes’ own
workforce). The tool is available both as a mobile application
and through a web interface in 28 languages. Regular
awareness communication about the tool is provided as part
of various health and safety trainings.
Konecranes has a structured and confidential process to
track and monitor compliance and ethical issues raised as
described in G1-1 Business conduct policies and corporate
culture. Stakeholder feedback on the effectiveness of
the reporting channels is received through Konecranes’
third-party social responsibility assessments and different
employee surveys, such as the Employee Engagement
Survey and the Compliance & Ethics risk assessment survey.
Based on the feedback, Konecranes has, for example,
increased local communication on the process of reporting
concerns. The effectiveness of the complaints procedure
would also be considered and ensured in the context of
possible mergers and acquisitions and other possible
material changes in the realignment of the Company or its
business.
The data inserted into the health, safety and environmental
reporting tool is followed closely by the local health, safety
and environmental experts and unit managers. Corrective
actions are created in the system, and their completion is
followed regularly. The process is supported by the local
health and safety committees in the responsible business
units, for example, by bringing up issues and following up on
corrective actions.
There are frequent calls with the internal network which
enable receiving feedback about the health, safety and
environmental reporting tool and its usability. The tool’s users
are also encouraged to bring forward development ideas.
Employees’ awareness and trust in the reporting channels
and investigation process is regularly followed and assessed
with risk assessments and surveys, as well as in connection
with regular tracking and analysis of the reports received. In
addition, the share of positive responses to the following two
questions of the Employee Engagement Survey is followed:
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Consolidated cash flow statement
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1) “Management of my unit is committed to integrity and
ethical business practices” and 2) “I would feel comfortable
reporting unethical behavior if I saw it in Konecranes” as
part of Konecranes’ Compliance & Ethics KPIs. Additionally,
every second year Compliance & Ethics risk assessment
survey respondents are asked to rate, for example, the risk
of people not reporting due to their lack of awareness of the
relevant channels or their lack of trust in the process and fear
of retaliation.
Konecranes has a strict policy of non-retaliation expressed
in the Code of Conduct and the Whistleblowing Instruction.
More information is available in G1-1 Business conduct
policies and corporate culture.
S1-4
Taking action on material impacts on
own workforce, and approaches to
managing material risks and pursuing
material opportunities related to own
workforce, and effectiveness of those
actions
Health and safety:
During 2025, actions on embedding health and safety
into everyone’s daily job continued. This was done by
supporting employees in recognizing hazards; making
health, safety and environmental observations; and
promoting health, safety and environmental excellence. The
ISO 45001 certifications continued to cover a major part of
the organization.
Learning from incidents focused on thorough
investigation and corrective actions. The health, safety
and environmental reporting tool supports the quality of
incident investigations and the completion of corrective
actions. A strong focus on reporting and following up on
cases with actual or potential Serious Injury and Fatality (SIF)
exposure was also maintained.
The number of health, safety and environmental observations
has been the leading KPI for the past years. All areas within
the organization showed significant improvement in
reporting observations.
Konecranes continues to improve its safety culture
together with all employees, guided by the Health, Safety
and Environmental Excellence program. During 2026,
Konecranes continues to review working processes
systematically to preventatively analyze them in order
to make them safe. The following other key activities will
continue: further improving incident investigation and
corrective actions and the quality of observations and
concentrating on reducing incidents with SIF exposure.
Konecranes has tools and resources to support and endorse
employee well-being, such as occupational health services,
and multiple courses related to resilience and well-being.
In 2025, Konecranes launched a global well-being strategy
for all employees, building on insights from the 2024
people manager well-being survey. The strategy aims to
integrate well-being into the Company culture, strengthen
the resilience and health of Konecranes’ employees and
provide support for physical and mental health. It includes
concrete actions across leadership, individual well-being,
and organizational structures.
Working time:
Working times are tracked by local people processes,
typically including electronic recording of working hours
and manager approvals. In addition to these continuous
local processes, compliance with local working hour
regulations and with Konecranes’ global recommendations
is assessed annually at some sites as part of Konecranes’
social responsibility assessments. Improvement actions
are agreed case by case after the assessments. Three
assessments were conducted in 2025 and at least three are
planned for 2026. Working time is also one element of the
above-mentioned Konecranes well-being strategy.
Training and skills development:
Konecranes offers its employees various development
and training programs in areas such as technology, sales,
communication, leadership, health and safety, project
management and ways of working. In addition, employees
can enrich their work, for example, by learning on the
job, from peers, or by joining mentoring and coaching
programs and communities. Konecranes has several
internal career and mobility opportunities and is actively
promoting internal opportunities through the internal career
pages, development discussions, social platforms, and
newsletters – to ensure employees can take further steps
in their career and develop their professional expertise.
In 2025, Konecranes continued to offer all Konecranes
employees the opportunity to have manager-employee
development discussions. By having continuous dialogue
with their manager, employees can achieve their targets
faster and accelerate their professional growth. For non-
employees of its own workforce, Konecranes also offers
training in areas such as technology, sales, communication,
leadership, health and safety, project management and
ways of working.
Konecranes is planning to continue a similar approach for
training and development in 2026.
Inclusion and diversity:
See S1-1 Policies related to own workforce on how inclusion
and diversity related policies are implemented through
specific procedures to advance inclusion and diversity in
general.
Konecranes has continued to demonstrate its commitment
to respecting all forms of diversity, educating the
organization on inclusivity and fostering a culture that
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Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
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supports performance, inclusion and well-being. To
support this, Konecranes has created a handbook
offering guidance on inclusive language and behavior,
promoted cultural series to raise awareness and
organized internal webinars to encourage reflection
around inclusivity.
In 2025, a new roadmap was built to continue the inclusion
and diversity work in a pragmatic way. In addition, the policy
statement was renewed, outlining how a culture of inclusion
and belonging are foundational to Konecranes’ culture.
“Free biases” workshops were also conducted within the
businesses.
The Company has established a training and e-learning
library for inclusion, and the inclusion and diversity
principles have been included in all the managerial
and leadership programs. The Company’s mentoring
programs are offered to the entire organization, focusing
predominantly on accelerating growth and providing
support, role models and guidance for everyone. These
programs leverage both internal and external mentors.
In addition, the Company has developed a program
called “Inclusive Pathways to Leadership” in collaboration
with external partners. These learning and development
initiatives continue to educate the leaders at all levels and
support the development of a gender balanced talent
pipeline for leadership positions – which is essential for
meeting the requirements of the EU Corporate Boards
Directive.
In 2025, Konecranes conducted a global pay equity audit
and planned the needed actions. Konecranes has also fully
embedded its pay equity process into the annual cycle and
remains committed to ensuring fair and equal compensation
across all its locations.
In 2026, Konecranes will continue to educate the
organization and raise awareness on inclusion and diversity
topics. The plan is to also expand the efforts by developing
programs focused on disability inclusion and generational
diversity.
Financial resources allocated to own workforce-related
actions
Konecranes has allocated significant expenditure on health
and safety development as well as on the training and
development of its employees. As own workforce-related
capital expenditure (CapEx) and operating expenditure
(OpEx) are an integrated part of Konecranes’ operations,
the Company aims to develop respective reporting on a
consolidated basis in the future.
Action taken to provide or enable remedy
During 2025, actions were taken to provide remedy for
people affected by material negative impacts. Remediation
actions are driven by local legislation and insurance systems
and mainly concern treatment of injuries and rehabilitation.
Other types of remediation (e.g. financial support for
families, compensation, sanctions, reorganizing work tasks)
are considered case by case based on the severity of the
incident, the local social support systems and the individual
situation of the family.
Assessing the effectiveness of actions in delivering
outcomes for own workforce
The effectiveness of health and safety related actions and
initiatives is followed through lead and lag indicators and
through internal health and safety audits and our certification
audits.
Compliance with the Fair Labor Frame, which includes
some of the material impacts, such as working hours, is
assessed annually at selected sites through on-site Social
Responsibility Assessments. These assessments also include
confidential worker interviews. An internal audit function
assesses the Company’s compliance with local regulations
on working hours at selected sites.
The effectiveness of training and skills development is
assessed e.g. with feedback collected after the completion
of selected trainings. The Employee Engagement Survey
(EES) contains questions on the adequacy of training, on
perceived health and safety, work-life balance and on
inclusion and diversity. The EES results are analyzed all the
way from the team level to the global level to assess how
employees in different parts of the organization perceive the
current state.
Konecranes is also rated by different investors, analysts and
joint customer platforms, which allow comparisons with
peers.
Processes to identify needed and appropriate
actions in response to actual or potential
negative impact
The processes through which Konecranes identifies what
actions are needed and appropriate in response to actual or
potential negative health and safety impacts on its workforce
are several: 1) Assessing and mitigating occupational health
and safety risks; 2) preventing and tracking health and
safety incidents, near-misses, and observations; and 3)
learning from past cases. The purpose of these processes
is to ensure that everyone gets home safely every day.
Konecranes’ Life-Saving Behaviors and Global Health, Safety
and Environmental standards define the behaviors and
procedures that the Company’s employees are expected
to comply with in order to create and maintain a healthy and
safe workplace.
The health, safety and environmental reporting tool is
used in daily health and safety management. The data
entered is followed closely by the local experts and the
business supervisors responsible. Improvements are
planned together with the local on-site employees.
Corrective actions are recorded in the system, and their
completion is monitored by the business units and
reported internally.
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Consolidated cash flow statement
Notes to the consolidated financial statements
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By auditing health and safety protocols and procedures both
internally and externally, for example, through certification
schemes, the business units can, in cooperation with the
health, safety and environmental team, oversee the current
level of the operations and ways of working, and supervise
and guide the unit in their continuous drive for improvement
and doing things right.
Continued excessive working hours impact work-life
balance. Employees’ perceptions of their work-life balance
are measured as part of employee and manager surveys,
and the results are analyzed at different levels of the
Company to find appropriate ways to improve the situation,
as needed.
Overall, Konecranes’ corporate culture helps in ensuring
that the Company’s own practices do not cause or
contribute to material negative impacts on its own workers.
The way of working is based on the principle that there
is no task so urgent or important that it cannot be done
safely. The human rights due diligence process aims to
ensure that the Company has the needed policies and
practices in place for identified negative impacts on own
workforce. Konecranes works to continuously improve its
due diligence process.
Resources allocated to the management of material
impacts
Konecranes has allocated personnel and technical resources
to manage its material impacts. On the other hand, many
of the material impacts are at the core of the Company’s
corporate culture, and all employees play an important part
in the daily execution of the practices.
Daily health and safety management is owned and led by
business units and supported by the internal health, safety
and environmental network. Continuous improvements
related to day-to-day work are accomplished in
cooperation with the local health and safety committees.
The overall health and safety strategy, short-term
targets, and action plans are defined by the global health,
safety and environmental core team together with the
health, safety and environmental network and the
Business Areas. This work is guided by the Sustainability
Council.
Health and safety themes and metrics are followed
regularly by the Business Area management teams and
the Konecranes Leadership Team. Konecranes expects all
employees to be active in enhancing its safety culture and
preventing incidents from taking place by removing hazards
and sharing improvement ideas. Everyone plays a part in
building a safe and healthy working environment, and every
employee and non-employee is responsible for health and
safety.
The People & Culture and Health and Safety organizations
are key drivers of global well-being initiatives, which cover
among other things working hours. Well-being initiatives
include internal trainings and awareness campaigns and
gaining insights about the current well-being of managers
and employees, for example, through surveys. On a daily
level, people managers are responsible for tracking their
subordinates’ working hours and that the working hours stay
within legal limits.
Konecranes fosters a culture of continuous learning that
enables its people to take ownership of their development
in order to reach their full potential. The global Learning
& Development (L&D) team manages global learning and
leadership development programs. Business Area and
function-specific L&D teams manage role-specific and
technical training programs tailored to their specific
needs, while local L&D teams address local needs
based on local regulations and requirements. To support
continuous learning, Konecranes leverages technology
such as a learning management system and external
learning libraries.
Regarding inclusion and diversity, progress and metrics are
followed regularly by each country and region, the Business
Area management teams, and the Konecranes Leadership
Team, with a strong focus on localization. Konecranes
educates its organization to ensure positive inclusion actions
and limit the risks of unintentional discrimination.
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Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
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Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
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S1-5
Targets related to managing material negative impacts, advancing positive
impacts, and managing material risks and opportunities
Konecranes has set the following social targets for its own workforce.
Topic Scope Target Baseline Base year
Progress
towards
target in 2024
Progress
towards
target in 2025
Relationship of the target
to the policy objective
Health and safety All employees. Total Recordable Incident (TRI) rate
to be below 3 by the end of 2030.
The target was set in 2020, based
on past performance and a
commitment to continuous year-
on-year improvement.
6.2 2019 5.9 5.2 The TRI rate serves as a key indicator of the
successful implementation of the Health
and Safety Policy Statement.
Labor practices All Konecranes sites, but
countries with higher
likelihood of human rights
risks are prioritized.
Conduct annually at least 3 on-site
social responsibility assessments in
Konecranes’ own operations.
No end date is set for the target.
N/A Annual
target has
been in
place since
2021.
3 3 Verifies compliance with Konecranes' Fair
Labor Frame, which outlines requirements
and recommendations for material impacts
such as working hours and training and skills
development.
Inclusion & diversity All employees Maintain a strong Inclusion Index
result: 82% or above
N/A 83% 83% Measures the Inclusion & Diversity (I&D)
Policy Statement’s aim to create an
inclusive working environment.
Notes:
Total Recordable Incident rate
• Measured by performance against the Total Recordable
Incident (TRI) frequency rate, calculated by dividing the
number of work-related incidents (resulting in medical
treatment or lost time) by the total full-time equivalent
hours performed over the reference period, then
multiplying by 1,000,000 hours.
• Stakeholders’ involvement in target setting: There was no
external stakeholder involvement in the target setting.
• Changes in targets, metrics, or measurement
methodologies: No changes.
• Performance against disclosed targets: The safety
performance did not reach the set target level due to
several identified and investigated reasons. Health and
safety topics are addressed in the 2026 annual plans.
Safety-related themes and metrics are monitored closely
by the business units. Health and safety metrics are
followed against the set targets regularly by the
Business Area management teams and the Konecranes
Leadership Team.
Number of social responsibility assessments
• Measured by conducted social responsibility assessments
that are completed by a third party on-site annually, using
Konecranes’ Fair Labor Frame and local regulations as criteria.
• Stakeholders’ involvement in target setting: There was no
external stakeholder involvement in the target setting.
• Changes in targets, metrics, or measurement
methodologies: The target level was reduced from
a minimum of five to three annual assessments from
2023 onwards, as many of the riskiest sites were already
covered during the first years.
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Consolidated statement of income
Consolidated balance sheet
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Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
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• Performance against disclosed targets: The annual
target number of assessments has been achieved since
setting the target. The target is reviewed annually, and
the progress is monitored regularly by the Konecranes
Leadership Team.
Inclusion Index result:
• Measured by the Inclusion Index derived from employee
survey responses to three questions assessing
belonging, authenticity, and equality. Measured on a
5-point scale (Strongly Disagree to Strongly Agree),
the Index represents the average percentage of
“Agree” or “Strongly Agree” responses. While tailored
to Konecranes’ ambition, the questions generally align
with the Qualtrics methodology for benchmarking.
Konecranes aims for an Inclusion Index of 82 percent
or above (Qualtrics’ definition of strong result), with
performance monitored approximately once per year.
• Stakeholders’ involvement in target setting: There was no
external stakeholder involvement in the target setting.
• Changes in targets, metrics, or measurement
methodologies: During 2022–2023, the target was to
“improve the Inclusion Index”. For 2024, the target was
updated, as the Inclusion Index level achieved in 2023 was
already strong. For 2025, the target was updated to 82
to align with Qualtrics’ revised definition of strong result
(previously 76). The target is reviewed annually.
• Performance against disclosed targets: In 2025, the
performance was above the target level. Progress has
been positive and improved from 2021 to 2024.
Process for setting the targets, including how
Konecranes engaged directly with its own workforce or
representatives
Konecranes’ own workforce was not directly engaged in set-
ting the above global targets. In some countries, local works
council representatives have been involved in discussing the
local elements of the health and safety target setting. The
performance against health and safety targets is reviewed
regularly with own workforce in various forums, including
local health and safety committees, operational meetings,
and works council meetings. The Inclusion Index results have
been shared and discussed with employees as part of the
employee survey results and actions implemented in line with
the results.
Employees are encouraged and expected to take part in
enhancing the safety culture. This includes, but is not limited
to, reporting health, safety and environmental observations
and adding improvement ideas via the health, safety and
environmental reporting tool. Continuous improvements
related to day-to-day work are accomplished together with
the local health and safety committees.
Konecranes’ People data does not track separate statistics for “other” gender. People data has three different options: female,
male and unknown. Therefore, Konecranes does not disclose the “other” gender category.
S1-6
Characteristics of undertaking’s employees
Number of employees by gender as of Dec 31, 2025
Gender
Number of
employees 2024 % of employees 2024
Number of
employees 2025 % of employees 2025
Male 13,581 81% 13,271 81%
Female 3,243 19% 3,161 19%
Not reported 18 0% 37 0%
Total employees 16,842 100% 16,469 100%
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Consolidated statement of income
Consolidated balance sheet
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Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
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1) The countries that include at least 10 percent of the total headcount
The largest countries of operation in terms of number of employees
1
Country Number of employees 2024 Number of employees 2025
Germany 3,423 3,445
Finland 2,420 2,408
The United States 2,244 2,124
Total 8,087 7,977
Employees by contract type and gender as of Dec 31, 2025
Female
2024
Male
2024
Not
reported
2024
Total
2024
Female
2025
Male
2025
Not
reported
2025
Total
2025
Number of employees 3,243 13,581 18 16,842 3,161 13,271 37 16,469
Number of permanent
employees
3,107 13,054 17 16,178 3,032 12,749 37 15,818
Number of temporary
employees
136 527 1 664 129 522 0 651
Note: Konecranes does not have non-guaranteed hours employees.
Total number of employees who have left the undertaking during the reporting period and the rate of
employee turnover in the reporting period
Number of employees who have left: 2,059 (2024: 1,957)
Rate of employee turnover: 12.42% (2024: 11.75%)
Methodologies and assumptions
At Konecranes, the official headcount (HC) is reported
on the second day of every month for the end of the
previous reporting period. The official headcount definition
includes all employees with employment status “Active”
and employee group as “Employee”, “Expatriate”, or
“Apprentice”. In the Sustainability Statement, Konecranes
reports the official headcount number in absolute value at
the end of the reporting period. For the rate of employee
turnover, the numerator includes employees who have left
in the reporting year, and the denominator is the average
headcount of the reporting year.
For the number of employees in the financial statements,
see Note 8 Personnel expenses and number of personnel in
Konecranes’ consolidated financial statements.
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Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
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At the end of 2025, 346 (2024: 347) or 80 percent (2024: 81 percent) of the Company’s top managers were male and 88 (2024: 80)
or 20 percent (2024: 19 percent) were female. Top managers include senior leaders who are positioned on Job Level 11 and above
(“Leadership”) in Konecranes’ job architecture.
Note: For employees who have not reported their gender,
the percentage was 100%.
The table below presents key metrics regarding health and
safety of employees.
The 2024 data for Employees covered by health and safety
management system has been recalculated due to a change
in the calculation methodology: The definition of coverage
has been changed from Konecranes HSE management
system coverage to the coverage of ISO 45001 in the
manufacturing locations.
The health and safety incidents cover on-site incidents
with medical treatment or lost days of own employees. The
health and safety reporting system, Life-Saving Behaviors
and Planet-Saving Behaviors and Global Health, Safety
and Environmental Standards form Konecranes’ health and
safety management system. All employees have access to
this system environment.
Konecranes’ People data does not track separate statistics
for “other” gender. People data has three different options:
female, male and unknown. Therefore, Konecranes does not
disclose the “other” gender category.
Employees participating in the performance or career
development review metric have been assigned a
performance and/or career development form in the master
people information system. Average hours of training
per employees reflect the learning hours conducted by
employees, as recorded in the learning management system.
S1-9
Diversity metrics
S1-13
Training and skills development metrics
S1-14
Health and safety metrics
Employees by age group as of Dec 31, 2025
Percentage of employees participating in performance
and/or career development review
Average hours of training per employee in 2025
Number of
employees 2024 % of employees 2024
Number of
employees 2025 % of employees 2025
Under 30 years old 2,782 16% 2,235 14%
30–50 years old 9,366 56% 9,166 56%
over 50 years old 4,694 28% 5,068 31%
Total 16,842 100% 16,469 100%
Gender 2024 2025
Female 96% 97%
Male 95% 96%
All employees 95% 97%
Gender 2024 2025
Female operatives 17 18
Female office workers 15 16
All female employees 15 16
Male operatives 26 29
Male office workers 15 17
All male employees 21 23
Gender not reported 27 79
All employees 20 21
Metric 2024 2025
Employees covered by health and
safety management system
79% 83%
Number of Total Recordable Incidents
(TRIs)
180 160
TRI rate 5.9 5.23
Fatalities 0 1
Lost Days 2,741 1,838
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Consolidated balance sheet
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Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
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S1-16
Compensation metrics (pay gap and
total remuneration)
S1-16 is included in this report to ensure transparency and
responsiveness to stakeholder expectations, even though
it was not identified as material in our double materiality
assessment.
The table below presents the remuneration metrics.
S2
Workers in the value chain
Konecranes applies the temporary exemption and discloses
information on value chain workers in accordance with ESRS
2, paragraph 17.
ESRS 2, 17
Material impacts, risks and opportuni-
ties related to workers in the value chain
and their interaction with strategy and
business model
The health and safety of the value chain workers is connected
to Konecranes’ strategy starting from the Company’s
purpose of Shaping next generation material handling for
a smarter, safer and better world. Konecranes’ business
model includes the use of subcontractors, for example, in the
manufacturing, installation and maintenance of the products
and solutions in different heavy industries, and these tasks
pose an inherent risk of negative health and safety impacts.
Konecranes’ business model is to offer a wide range of
products and service solutions globally, which means that
we also have an extensive global supplier base. The majority
of the Company’s suppliers and subcontractors are located
in countries where legislation supports the protection of
human rights, including occupational health and safety, but
some of the suppliers are located in countries where the
rule of law is weak. Konecranes mitigates health and safety
impacts with different appropriate measures.
ESRS 2, 17
Policies related to value chain workers
Information about the key content, scope, accountability
for the implementation, and availability of Konecranes’
Unadjusted gender pay gap is calculated as the difference
of average gross hourly pay levels between male and female
employees, expressed as percentage of the average pay
level of male employees. Average hourly pay includes annual
guaranteed pay consisting of total annual base salary and
fixed cash allowances.
Total Remuneration Ratio calculation formula: Annual total
remuneration for the highest paid individual / Median
employee annual total remuneration (excluding highest paid
individual). Annual Total Remuneration calculation includes
total annual base salary, fixed cash allowances and short-
term incentive target level bonus or actual previous-year
annual local bonus incentive depending on employee group.
Metric 2024 2025
Hourly gender pay gap 7% 6%
Total remuneration ratio 26 22
Human Rights Policy, Supplier Code of Conduct and
Know Your Supplier Policy can be found in ESRS 2 MDR-P
Policies adopted to manage material impacts, risks
and opportunities. The Human Rights Policy also covers
Konecranes’ general approach to respecting value
chain workers’ human rights and general approaches to
engagement and measures to provide and/or enable
remedy for human rights impacts.
ESRS 2, 17
Processes for engaging with value chain
workers, actions on material impacts
and approaches to managing material
risks and opportunities
Konecranes’ Supplier Code of Conduct sets the minimum
legal and ethical requirements and principles of conduct
which Konecranes requires from its suppliers and
subcontractors on topics such as human rights, health
and safety, the environment, data protection and privacy,
anti-corruption, and trade compliance. Compliance with
these requirements is a standard clause in the Company’s
purchase agreements, and when defined mandatory,
Konecranes requires suppliers and subcontractors to
sign a separate contractual commitment to comply with
the requirements. Konecranes also agrees with some
subcontractors which conduct risky work more specifically
on the health and safety requirements and their management
as part of the subcontract.
Konecranes’ Know Your Supplier Policy and the related
process is established to ensure Konecranes does business
with suppliers and subcontractors that are able to meet
the requirements. During the know-your-supplier process,
Konecranes assesses whether suppliers comply with the
requirements set in Konecranes’ Supplier Code of Conduct
through a supplier’s self-assessment questionnaire. Based
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
on Konecranes’ risk-based approach, the depth of the
know-your-supplier process as well as the mandatory
appropriate measures to prevent or mitigate the different
risks, including health & safety, may vary. Read more about
the know-your-supplier process in G1-1 Business conduct
policies and corporate culture.
In addition to the above-mentioned self-assessments,
Konecranes monitors and evaluates how suppliers and
subcontractors comply with the defined requirements
through its audit program. These audits are one of
Konecranes’ key processes to assess the effectiveness of
intended outcomes for value chain workers, as they deliver
fact-based data for the Company on how the ethical and
legal principles and requirements are met in practice.
In its Supplier Code of Conduct audit program, which is
based on contractual agreements, Konecranes can engage
directly with its value chain workers through confidential
supplier worker interviews, where employees can freely
speak up without attendance of their management. Audits
are conducted on site by an external third-party auditor
specializing in responsibility audits and having knowledge of
relevant local laws and regulations. The third-party auditor
has been instructed that the worker interview sample shall
always be as diverse as possible and include workers who
may be particularly vulnerable to negative impacts and/or
marginalized. In addition to Supplier Code of Conduct audits,
key questions related to health and safety are covered
during process audits of suppliers and subcontractors, while
health and safety topics are audited more extensively in
the health and safety audits, both audits being conducted
by Konecranes. Konecranes follows the closure of audit
findings together with suppliers through the corrective
action planning process.
All the above-described policies and processes are
applicable to all suppliers and subcontractors globally,
while the scope of the implementation of the processes is
risk-based. This means that the measures are not conducted
at the same level with all suppliers and subcontractors.
The information received through these processes will be
annually or, if needed, immediately taken into consideration
in the wider human rights impacts and risks assessment that
guides, for example, which suppliers in specific purchasing
categories or countries should have a more extensive know-
your-supplier process. Read more in G1-2 Management of
relationships with suppliers.
In 2026, Konecranes will continue to increase the contractual
coverage of its Supplier Code of Conduct and will continue
Supplier Code of Conduct trainings internally and externally.
Konecranes will also continue ensuring compliance against
its Supplier Code of Conduct and other mandatory supplier
requirements through the know-your-supplier process.
Moreover, the Company will continue its supplier audits,
including re-audits, both those conducted by the Company
itself and those conducted in cooperation with the third-
party auditor. While re-audit insights have proven permanent
improvements, there are still some topics, seen as more
systemic challenges in specific contexts, which require
further development in cooperation between Konecranes
and its suppliers, and thus, the work on corrective actions
improvements will continue.
Currently, Konecranes does not allocate significant
operational expenditures (OpEx) or capital expenditures
(CapEx) to the action plan.
Processes to identify actions needed and to provide
remedy in response to negative impacts
Konecranes’ human rights impacts and risks assessment
forms the foundation for identifying suppliers and
subcontractors whose workers may potentially be under a
higher risk of being subject to negative material impacts.
This assessment is based on external information on
typical risks in the purchasing categories and countries,
enriched with internal expert knowledge to identify general
areas where impacts are most likely to occur and to be
the most severe. After comprehensive risk identification,
Konecranes can define its actions needed in response to
potential negative impacts. Such actions related to health
and safety may include contractual commitments, supplier
self-assessments, on-site audits as well as preventive and
corrective action plans, as explained earlier in this chapter.
An important way to become aware of actual negative
impacts is a grievance channel. Konecranes encourages its
employees and external stakeholders to report all concerns
relating to Konecranes, without fear of retaliation. Read
more about the whistleblowing channels, the processes
to support the availability of these channels as well as the
internal investigations in G1-1 Business conduct policies
and corporate culture. Value chain workers located at
Konecranes’ sites can address their concerns also via
Konecranes’ main contact. At some sites, value chain workers
participate in the site’s health and safety committees.
During the reporting period, there were no severe human
rights issues or incidents caused or suspected to be caused
by Konecranes to its value chain workers that were reported
to Konecranes’ Compliance & Ethics team either directly
or through the Whistleblowing Channel. If Konecranes
causes or contributes to negative human rights impacts,
the Company seeks to provide access to remedy for the
affected people. During 2025, actions were taken to provide
remedy for value chain workers affected by material negative
impacts. Remediation actions are driven by local legislation,
and types of remediation (e.g. sanctions, reorganizing work
tasks) are considered case by case.
In line with its Supplier Code of Conduct, Konecranes also
expects that suppliers provide their employees and other
stakeholders with the possibility to raise concerns about
unethical or illegal conduct without risk of reprisal and ensure
that appropriate processes are in place to address these
concerns and remedy any confirmed cases.
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Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Processes and approaches to taking action to avoid
causing or contributing to material negative impacts on
value chain workers through own practices
Konecranes aims to avoid causing material negative impacts
on its value chain workers through its own practices, for
example, by collaboratively planning the procurement
process with selected suppliers. In collaborative planning,
Konecranes shares data of its production planning, which
supports and enables the suppliers to plan their own capacity
and financing, as well as reduce the risk of unexpected peaks
in orders that may lead to increased working pressure that
may cause material negative impacts. In addition, within
the Supplier Relationship Management (SRM) framework,
Konecranes holds meetings with selected suppliers to better
understand the performance of the suppliers as well as hear
feedback on its own way of operating. Konecranes aims to
collaborate with its suppliers to find solutions in case of any
identified challenges.
ESRS 2, 17
Targets related to material impacts, and managing material risks and opportunities
Topic Scope Target Baseline Base year
Progress
towards
target in 2024
Progress
towards
target in 2025
Relationship of the target
to the policy objective
Coverage of
Supplier Code of
Conduct
The target scope covers all
Konecranes’ Tier 1 suppliers globally.
Logistics companies, which may be
part of the upstream or downstream
value chain, are included as suppliers
in the target scope. The supplier
spend is monitored by a central
procurement tool currently covering
over 95 percent of the Group’s
procurement-relevant spend.
To increase the coverage
of Supplier Code of
Conduct within its supplier
base compared to
previous year’s value.
68% 2024 68% 78% Konecranes' Supplier Code of Conduct
aims to ensure that all suppliers and
subcontractors adhere to the same legal
and ethical requirements and principles
as the Company. The Supplier Code
of Conduct coverage target is used to
track these commitments within supplier
agreements.
Supplier Code of
Conduct audits
The target scope covers selected
high-risk suppliers.
To complete thirty (30)
Supplier Code of Conduct
audits per year with
selected suppliers.
30 Annual target 30 26 Enables Konecranes to evaluate how its
Supplier Code of Conduct objectives are
realized by suppliers and subcontractors.
In cases of non-compliance, Konecranes
collaborates with them to ensure future
adherence to the Code's requirements.
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Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Notes:
Coverage of Supplier Code of Conduct
• Measured as the percentage of total supplier spend
with suppliers who have contractually committed to
Konecranes’ Supplier Code of Conduct or equivalent
requirements. The total supplier spend is excluding fees
from authorities, sponsorships and memberships.
Supplier Code of Conduct audits
• Measured by the number of on-site audits conducted
during the reporting period.
• The target for 2025 was not achieved due to unexpected
scheduling challenges that led to postponements of the
remaining planned 2025 audits to 2026.
Progress is followed monthly. Both of these targets are
reviewed annually.
The targets are seen to reflect the typical way of measuring
the progress in responsible procurement within similar
industries or corporate contexts. No other specific
recognized methodology or significant assumptions have
been applied.
The stakeholders have not been directly involved in the
target setting of Konecranes’ Supplier Code of Conduct
coverage or Supplier Code of Conduct audits.
No changes have been made to the targets within the
reporting period.
At the moment, Konecranes does not set targets, track the
performance of these targets nor identify improvements in
the Company’s performance by directly engaging with its
value chain workers, or their legitimate representatives or
credible proxies on these matters.
S4
Consumers and end-users
Konecranes applies the temporary exemption and discloses
information on consumers and end-users in accordance with
ESRS 2, paragraph 17.
ESRS 2, 17
Material consumer- and end-user-
related impacts, risks and opportunities
and their interaction with strategy and
business model
Konecranes is a global leader in material handling solutions,
and material handling has considerable inherent occupational
health and safety risks. Konecranes wants to provide products
and services that make the Company’s customers’ material
flow more efficient, more secure and safer. Konecranes’
offering includes technologically advanced equipment with
innovative safety features as well as efficient preventive and
predictive maintenance that enables customers to keep
equipment in good working order throughout their lifespan.
The health and safety of the end-users is embedded into
Konecranes’ strategic enablers and our values starting from
the Company’s purpose of Shaping next generation material
handling for a smarter, safer and better world.
Through responsible business practices and a commitment
to safety and security, Konecranes leverages product and
service safety and security as a competitive advantage
while mitigating reputational risks from potential safety
incidents at customer sites. The solutions offered to
customers and used by end-users must be safe and
secure by design and remain so throughout their lifecycle.
However, Konecranes remains partly dependent on the
safety culture and awareness of its customers, as even
the safest and most secure products require proper use.
The entity-specific material topic of product security
is closely linked to the material topic of personal safety
of end-users and its sub-sub-topic of health and safety
of end-users; therefore the product security related
disclosures are included in this section S4 – Consumers
and end users.
ESRS 2, 17
Policies related to consumers and
end-users
Information about the key content, scope, accountability for
the implementation, and availability of Konecranes’ Quality
Policy Statement, Warranty Handling Policy, Human Rights
Policy and Information Security Policy can be found in ESRS
2 MDR-P Policies adopted to manage material impacts,
risks and opportunities. The description of the Human Rights
Policy also explains Konecranes’ general approach to res-
pecting end-users’ human rights and general approaches
to engagement and measures to provide and/or enable
remedy for human rights impacts.
ESRS 2, 17
Taking action on material impacts, and
approaches to managing material risks
and opportunities related to consumers
and end-users
Konecranes ensures the safety of its products, solutions,
and services through defined processes and embedded
smart safety features. Safety is integrated across the
lifecycle—from design and procurement to manufacturing,
commissioning, maintenance, and service. Prior to market
release, products undergo comprehensive testing at
the Company’s Reliability Centers against applicable
standards. Product safety performance is monitored
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
through two global processes: Accident Investigation
Reporting (AIR) and Field Quality Inspections (FQI).
Konecranes continuously improves its product safety-
related processes. Internal audits, trainings, quality
improvement process enhancements, process changes
and instruction updates conducted in co-operation
between global and local teams ensure that the processes
are actively developed and monitored. Each business unit
and area has a dedicated quality organization improving
and monitoring product quality and safety. Product
platforms and R&D teams are constantly evaluating
customer needs and driving the improvement of the
products to be safer and more reliable.
Identifying and assessing actual and potential
adverse impacts
Konecranes identifies and assesses product-related health
and safety impacts through formal hazard analyses and
engineering risk assessments, including Failure Mode and
Effects Analysis (FMEA), as well as generic and project-/
industry-specific risk assessments. Additional inputs
include customer feedback, operator insights during the
design and sales phases, field data from AIR/FQI, and
defect trends from production and final inspections.
The Company maintains ISO 9001-certified quality
management and ISO 17025-certified test laboratory
capabilities to support robust verification and validation
activities.
Prevention and mitigation actions
Konecranes’ offering includes technologically advanced
safety features designed to reduce foreseeable risks
in customer operations, such as Sway Control, Hook
Centering, Snag Prevention, Inching, Microspeed, Assisted
Load Turning, Target Positioning, End Positioning, and
geofencing via the Work Zone Smart Feature application.
Remote operation (Remote Operating Station) enables
operators to work from safe locations with improved
ergonomics and reduced exposure to hazards.
Safety-related control functions are implemented
according to Company and industry requirements, and
defined inspections and tests during production and
commissioning ensure conformity before handover. Based
on customer feedback and requirements, Konecranes
is also able to provide different solutions for end-users
who may be particularly vulnerable in terms of health and
safety (for example, people with disabilities), and these
requirements can be handled already during the product
development process. For example, for people with a
hearing defect, Konecranes can add warning lights in the
cranes.
Monitoring and performance management
Through AIR, Konecranes mandates reporting and
investigation of known equipment-related safety
incidents, including events such as load drops or
uncontrolled movements. All incidents are investigated,
including cases where misuse is suspected, and a root
cause analysis is always conducted by technical experts.
Where applicable, corrective and preventive actions are
implemented to prevent recurrence in existing installations
and future deliveries; systemic issues trigger targeted
projects across affected customers. The FQI process
conducts structured inspections on products with
potential safety risks and enables immediate field repairs
and cross-fleet checks. The Company tracks defect rates
identified at final inspections, analyzes defect types, and
aims to reduce the most frequent issues. Internal audits,
training, and quality process enhancements are
embedded in annual plans to sustain and improve
performance.
Channels to raise concerns and access to remedy
Konecranes encourages employees and external
stakeholders to report concerns through established
grievance channels without fear of retaliation. Read more
about the whistleblowing channels, the processes to
support the availability of these channels as well as the
internal investigations in G1-1 Business conduct policies
and corporate culture. Customers may also contact their
Company representatives directly (email, phone, service
request). Product safety issues are handled under the
AIR process. Where Konecranes causes or contributes to
adverse impacts, it seeks to provide access to remedy
consistent with local legislation and insurance systems,
including treatment of injuries, rehabilitation, and
compensation as applicable. During 2025 Konecranes took
action to provide remedy for material health and safety
impacts considered to be caused by Konecranes’ products
to end-users by providing compensation and by taking
corrective and preventive actions as part of AIR and FQI
processes.
Results and effectiveness
In 2025, internal process audits conducted by the
Continuous Improvement team continued in AIR and FQI;
findings were used to further improve these processes.
Comprehensive process and instruction updates were
completed, focused on enabling shorter process lead
times and clarifying roles and responsibilities. Global
trainings were delivered to Business Areas and Business
Units to strengthen process compliance and transparency
of reporting. Severe health and safety incidents related
to Konecranes’ products were reported and investigated
under the AIR process, with corrective and preventive
actions implemented. The Company continued to monitor
final inspection defect rates, record defect types, and
pursue the reduction of recurrent categories.
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Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Over the coming years, the Company will further enhance
data quality in AIR and FQI, continue the annual internal
process audits, process steering, and training, and
strengthen the consolidated reporting of product safety-
related CapEx and OpEx.
Managing material risks and pursuing
opportunities
Konecranes mitigates material financial risks arising
from potential safety incidents by reducing likelihood
and severity through design stage risk management
(e.g., FMEA), feedback loops from AIR/FQI into product
development, and periodic assessment within risk
management and business continuity planning. Product
safety is a material opportunity for the Company,
providing competitive advantage through safe, high-
performance equipment, advanced safety features,
and preventive and predictive maintenance offerings.
Demonstration capabilities (e.g., digital visualization and
live demonstrations) enhance customer understanding of
safety functionality and benefits. The Company’s digital
ecosystem—including customer portals for maintenance
information, TRUCONNECT® asset data, spare parts,
enterprise platforms, and productivity apps—supports
safer, more reliable operations and reduces the likelihood
of failures that could pose safety risks.
ESRS 2, 17
Targets related to material impacts,
and managing material risks and
opportunities
Konecranes is committed to three quality objectives
highlighted in the Company’s Quality Policy Statement
that was updated in 2025. The objectives are “Strive for
zero product safety incidents”, “Prevent all types of non-
conformities”, and “Improve customer satisfaction”.
At Konecranes, multiple indicators are monitored to ensure
end-user and product safety. These include the customer
Net Promoter Score (NPS), the number of AIR cases, as
well as more granular internal indicators measuring the
effectiveness of the Company’s AIR and FQI processes.
Konecranes encourages its customers to report any
incident where equipment, a component or service
provided by Konecranes has caused or threatened to cause
a health or safety incident or property damage. Although
the overall objective is to strive for zero product safety
incidents, a certain level of cases is also an indication of the
functioning of the AIR reporting and its awareness among
customers and stakeholders. Therefore, no target has been
set for the number of AIR cases. During 2025, Konecranes
received 253 AIR cases across the Company (2024: 250 AIR
cases).
Entity-specific information:
Product security
Product security has been assessed as an entity-
specific, material topic for Konecranes. Impacts, risks and
opportunities related to product security can be found in
ESRS 2 SBM-3 Material impacts, risks and opportunities
and their interaction with strategy and business model.
Product security at Konecranes is managed through
Konecranes’ Information Security Management System
(ISMS) and Product Security Framework and the Secure
Product Development practices, which are certified
against the IEC 62443 standards (konecranes.com/
cyber). Konecranes’ Security Steering Group directs
the development at Konecranes, and the Cybersecurity
team, together with business units and group functions,
implements the developments with a dedicated security
budget. The organizational roles, responsibilities and
competence requirements are defined in the Konecranes
ISMS Handbook. Information security topics are regularly
reported to Konecranes’ Board of Directors’ Audit
Committee, and further to Konecranes’ Board of Directors,
when needed.
Konecranes’ systematic approach to managing information
security aims to ensure that all relevant information security
risks are identified and mitigated. A set of security controls
are implemented, and technical and organizational security
measures cover topics such as asset management,
access control, secure software development, incident
management and information security aspects of business
continuity management. Further information about
cybersecurity is available in G1 Business conduct; Entity-
specific information: Cyber-preparedness and enterprise
resilience.
Key actions taken and planned for the future
Konecranes’ Information Security Management System is
based on ISO 27001:2022. The scope of the certification
is “The development and operations of Konecranes’
business applications, IT infrastructure and customer
portals, productivity-enhancing mobile applications and
TRUCONNECT® suite of remote service products and
applications”. The original certification was achieved in
2021, and since then we have continued to further increase
the scope and improve our practices, with latest audit
taking place in 2025. TBA and Equipment Control Systems
& Services (ECSS) software products have been certified
since 2023. The certifications are being maintained through
a systematic management approach. The next certification
audits are planned for 2026.
Konecranes has received the IEC 62443 certification,
a standard for cybersecurity in industrial automation
and control systems. The certification covers the Port
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Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Solutions and Industrial Equipment products offered to
container handling, shipyards, process industries and
general manufacturing customers. The certification level
is ‘capability to implement’. The certification provides
assurance to customers on the Company’s offering and
on the fact that it is built according to the industry’s best
practices, fulfilling the regulatory compliance requirements
and being protected against cyber threats. The IEC 62443
certification remains valid and has been reaudited in 2025
with excellent results.
To ensure cybersecurity performance, it is essential that
employees’ awareness of and level of knowledge on
information security topics is increased. Konecranes has a
mandatory cybersecurity training for all employees, which
must be completed during employee onboarding, and
after that, every time the training module is updated. More
information about Konecranes’ cyber-preparedness and
enterprise resilience is available in G1 Business conduct;
Entity-specific information: Cyber-preparedness and
enterprise resilience.
4. GOVERNANCE INFORMATION
G1
Business conduct
G1-1
Business conduct policies and
corporate culture
Policies with respect to business conduct matters
Business conduct within Konecranes is guided by
applicable laws and the Company’ Code of Conduct, which
is supplemented by several Group-wide policies, such as
the Human Rights Policy, the Data Protection Policy, trade
compliance-related instructions, the Competition Policy,
the Anti-Corruption Policy, the Whistleblowing Instruction
and supplier-related requirements such as the Know Your
Supplier Policy, among others. Information about the key
content, scope, accountability for the implementation, and
availability of the policies can be found in ESRS 2 MDR-P
Policies adopted to manage material impacts, risks and
opportunities.
Konecranes expects its business partners to conduct their
business in compliance and alignment with the Company’s
high legal, ethical, environmental and employee-related
principles. Konecranes promotes its responsible ways
of working and zero tolerance of corruption and bribery
to its business partners in Konecranes’ Global Supplier
Manual, Supplier Code of Conduct and Distributor Code of
Conduct.
Establishing, developing, promoting and evaluating
corporate culture
Konecranes’ values are the foundation for the culture
the Company wishes to have. The values have been co-
created with nearly 8,000 colleagues worldwide, and
everyone at Konecranes was invited to participate in this
renewal process. After 27 global workshops with 150
discussion groups, the inputs were crystallized into the
Company’s four values: Putting customers first; Doing
the right thing; Driving for better; and Winning together.
Konecranes’ values guide the way its employees behave
and the way they act, both internally and externally. The
values summarize what the Company expects of itself
and others and reflect Konecranes as a Company for
key stakeholders. The Code of Conduct in turn sets the
ground rules for our work. These themes are ingrained
through consistent messaging from leadership, training
programs, and internal communications, ensuring that
they are understood and adhered to across all levels of the
organization.
Employees are regularly trained in various corporate culture
and business conduct matters. A Code of Conduct basic
training is mandatory for all new employees as part of their
onboarding. A regular Code of Conduct training program is
in place for all employees, and staff employees are trained
on the Code of Conduct every year and operatives once
in every two years. The training completions are closely
monitored and reported to the Compliance & Ethics
Committee, the Konecranes Leadership Team and the Audit
Committee.
Depending on the employee’s role, there are also other
mandatory and/or recommended trainings in various areas
such as competition law and data protection. Responsible
business conduct is also addressed in new people manager
and leadership trainings. Multiple live trainings are also
arranged every year for varying audiences.
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Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
The level of implementation and development of the
corporate culture is evaluated through different employee
surveys such as the Employee Engagement Survey and
Pulse surveys. They are important tools for each employee
to get their voice heard and to have an impact on how
their direct surroundings and the whole organization will
be developed. As part of the compliance & ethics KPIs,
Konecranes follows the share of positive responses to
two compliance and ethics questions in the Employee
Engagement Survey to get employees’ views on the
management’s commitment to integrity and the speak-up
culture within Konecranes.
Konecranes has an annual compliance & ethics risk
assessment process supported by biennial legal and
compliance risk assessment surveys to get insights
throughout the organization. The Company also carries out
risk-based country-specific compliance risk assessments.
Moreover, Social Responsibility Assessments are
conducted by a third-party against Konecranes’ Fair Labor
Frame and local regulations on the topics covered by the
Frame.
Konecranes’ Whistleblowing Channel provides an
opportunity for the Company to learn about possible ethical
concerns and non-compliance with the laws.
Read more about how Konecranes promotes its corporate
culture towards suppliers in G1-2 Management of
relationships with suppliers.
Konecranes offers multiple ways of raising concerns
internally, through the management, People & Culture,
legal and compliance & ethics teams, or through the
externally hosted Whistleblowing Channel, which also
enables anonymous reporting when allowed by local laws.
Konecranes’ Whistleblowing Channel and investigation
process are managed by the Group’s Compliance & Ethics,
which is a global team independent from businesses and
local decision-making and able to investigate all cases
impartially. Where required by local laws, Group companies
also have local reporting channels in place, which are
managed in accordance with local laws.
An internal Whistleblowing Instruction giving guidance on
how to report compliance and ethical concerns is published
internally in 35 languages. Employees are regularly trained on
the topic as part of the Code of Conduct basic training and
other targeted trainings.
Konecranes’ whistleblowing channels are also open to
anyone externally, and stakeholders are encouraged to
report ethical concerns or non-compliance with laws
related to Konecranes’ operations. The externally hosted
Whistleblowing Channel is available in 39 languages, and
information about the process and the non-retaliation
undertaking is published externally on Konecranes.com in
10 languages.
Konecranes has a strict policy of non-retaliation as
described in the Company’s Code of Conduct and
Whistleblowing Instruction. Konecranes’ Whistleblowing
Channel is hosted via a technical solution provided by
an external partner and the channel is encrypted and
password-protected. The whistleblowing and investigation
procedures and storing of related documentation are
strictly confidential and regulated by a documented
process. As part of the process, the team involved in the
investigation process is subject to a specific confidentiality
undertaking and a non-retaliation undertaking, among
others.
The protection of reporters and other participants of the
whistleblowing procedure and confidentiality and non-
retaliation undertaking extends to all reports on violations
of the Company’s policies, Codes, as well as laws, not just
limited to the scope of the national laws implementing the EU
whistleblower protection directive.
G1-2
Management of relationships with
suppliers
Konecranes expects its suppliers and subcontractors (later
referred together to as “suppliers”) to conduct business in
compliance with the same legal and ethical requirements
and principles that Konecranes requires in its Code of
Conduct, and these principles are of the utmost importance
when establishing and conducting business relationships.
Konecranes’ Supplier Code of Conduct sets the minimum
legal and ethical requirements and principles of conduct
which Konecranes requires from its suppliers on topics
such as human rights, health and safety, the environment,
data protection and privacy, anti-corruption, and trade
compliance. The target of embedding sustainability,
compliance, and legal and ethical requirements in the
Company’s business processes, as described below, not
only supports Konecranes’ strategic commitments, but
also forms a basis for the Company’s supplier relationship
management and reduces the possible risks related to the
Company’s supply chain.
In addition, Konecranes’ Global Supplier Manual imposes
other minimum requirements and expectations for all
suppliers, describing the main processes related to
those expectations. Any additional requirements for the
suppliers might be included, for instance, in Konecranes’
agreements.
Konecranes applies a structured approach to managing its
relationships with its suppliers and this approach includes,
but is not limited to, social and environmental performance.
The key objectives of the Company’s Supplier Relationship
Management (SRM) framework include, for instance,
implementation of the know-your-supplier process,
ensuring material availability, reducing supply risk,
and driving and monitoring supplier performance. The
SRM framework aims to give a high-level guidance and
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Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
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governance model on how to manage the supplier
relationships.
Konecranes’ tools for managing the supplier relationship
include, for example, supplier audits, supplier meetings,
and implementation of the know-your-supplier process.
Currently, Konecranes conducts three types of audits
for its suppliers. On-site process audits are focused on
reviewing and validating suppliers’ management systems,
quality assurance methods and process capacities.
On-site Supplier Code of Conduct audits conducted by a
third party evaluate suppliers’ capability to meet the
Supplier Code of Conduct requirements. Additionally,
Konecranes implements information security audits
that are also conducted by a third party. According to
the Company’s SRM framework, supplier meetings vary
from annual meetings to ad-hoc ones, depending on the
supplier, and they cover topics such as contracts,
supplier performance, compliance, and risk review
of the supplier.
As part of Konecranes’ know-your-supplier process, the
Company requires selected, existing suppliers to conduct
a regular background checking where the same risk-
based approach as in the supplier selection is followed.
In this process, risk-based selected existing suppliers
are requested to fill a wider supplier self-assessment
questionnaire which includes questions on topics such
as human rights, health and safety, the environment,
information security, data protection, and trade
compliance.
At Konecranes, all relevant procurement functions are
responsible for ensuring compliance with the legal,
ethical, environmental, and other sustainability obligations
within Konecranes’ supplier base, and for integrating the
requirements into existing processes. The procurement
organization is trained in the implementation of the SRM
framework as well as other relevant policies and processes
such as the Know Your Supplier Policy and process. Supplier
management as well as how to avoid conflicts of interest are
themes included in the global Code of Conduct training. The
global Supplier Code of Conduct e-learning is mandatory
for procurement functions and it is offered in nine
languages. To follow the implementation of the described
practices in the management of supplier relationships,
Konecranes has set internal targets, for example, related to
SRM framework implementation, the number of completed
audits, and Supplier Code of Conduct coverage as well
as Supplier Code of Conduct e-learning completion rate,
which are followed monthly.
Social and environmental criteria and the selection
of suppliers
Konecranes follows a risk-based approach in supplier
selection and management. When assessing Supplier Code
of Conduct risks, the country and industry of the supplier
are considered for identifying general areas where impacts
are most likely to occur and to be severe. In addition,
supplier-specific risks discovered in the know-your
supplier process are considered. The risk-based approach
defines the depth of the know-your-supplier process.
For instance, the content and extent of the background
checking assessment vary, as do the appropriate measures
to prevent or mitigate the risks.
G1-3
Prevention and detection of corruption
or bribery
Konecranes’ Code of Conduct, Supplier and Distributor
Codes of Conduct and Anti-Corruption Policy express the
Company’s commitment to working against corruption
in all forms, including extortion and bribery, and define
Konecranes’ expectation and rules for preventing corruption.
Further details on these policies can be found in ESRS 2
MDR-P Policies adopted to manage material impacts, risks
and opportunities.
Several actions and processes are set up to mitigate
corruption and fraud risks. They include internal controls,
a sponsorship and donation approval process, a Conflict
of Interest declaration portal, and a Gifts and Hospitality
portal, which is the central location for employees to report
on and gain pre-approval for offering and receiving gifts and
hospitality.
Any allegations or suspected incidents of corruption or
bribery are investigated in line with the defined Group
investigation process. This process is managed by
Konecranes’ Compliance & Ethics team as described in
G1-1 Business conduct policies and corporate culture.
The process of reporting outcomes to the administrative,
management and supervisory bodies is explained in ESRS
2: GOV-1 Role of the administrative, management and
supervisory bodies.
The Company’s functions that are deemed to be most at risk
of corruption and bribery due to their tasks and responsibilities
are: management (including legal managing director roles),
Business Area sales and project management organizations,
central and Business Area procurement and business unit
controllers, regional controllers and their superiors.
Anti-corruption e-learning modules are targeted at all staff
employees and particularly at employees at functions
which are deemed to be at risk of corruption. 100 percent
of the functions at risk are covered by the e-learning. The
e-learning modules are supplemented with live trainings held
in various locations and for various teams either face-to-face
or virtually.
The same trainings which are rolled out for Konecranes’ staff
employees globally will be given to the President and CEO,
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Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
and the Company’s Code of Conduct training is provided
also to the Board of Directors.
MDR-A
Actions and resources related to
business conduct
The key actions taken in 2025 included:
1) Establishing a new Code of Conduct refresher training,
which was rolled out in September for all staff employees
globally in 35 languages.
2) Approval and roll-out of updated Distributor Code of
Conduct.
3) Launching new anti-corruption e-learnings globally
to supplement Konecranes’ existing compliance
training program, specifically targeted at defined
functions at risk.
4) Launching new e-learnings on Supplier Code of Conduct
both internally and externally.
Konecranes has defined a development plan for future
actions in order to continue enhancing its compliance
policies and processes. The actions include e.g. further
enhancing the third-party management process and
related documentation and tools and establishing a
new legal and compliance training for external sales
intermediaries.
All of these actions contribute to ensuring and enforcing
compliance and ethical and responsible business conduct
in line with Konecranes’ Codes of Conduct, and all of the
above enhancements are intended to be completed within
the next 1–2 years.
Currently, Konecranes does not allocate significant
operating expenditures or capital expenditures to the
action plan.
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Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
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MDR-T
Targets related to business conduct
Topic Scope Target Baseline Base year
Progress towards target
in 2024
Progress towards target
in 2025
Relationship of the target
to the policy objective
Code of Conduct
training
All employees in
the target group
Code of Conduct
training completed by
all employees (100%)
in the target group
1
N/A Annual target Code of Conduct basic
training completed by 98%
of all employees
Code of Conduct basic
training completed by 98%
of all employees
1
Code of Conduct refresher
training 2025 completed
by over 8,800 employees
representing 97% of all staff
employees (EMEA 97%,
APAC 98%, Americas 96%)
1
Ensures that all employees are familiar
with and committed to the Company’s
Code of Conduct.
Ethical ways
of working and
speak-up culture
All employees To reach a 100%
positive response (with
a score 7–10 out of 10)
to specific Employee
Engagement Survey
questions.
2
N/A No data available for 2024.
In the 2023 employee enga-
gement survey, the average
percentage of employees
responding positively to
questions (1) and (2) was 87%
and 84%, respectively.
In the 2025 employee enga-
gement survey, the average
percentage of employees
responding positively to
questions (1) and (2) was 88%
and 86%, respectively.
Following the share of positive replies
allows Konecranes to assess the level
of perceived commitment to ethical
ways of working and the level of the
Company’s speak-up culture.
Konecranes has two targets within the area of business conduct:
Notes:
1
Code of Conduct training: The target is measured by the
completion rate of the Code of Conduct training globally
during the reporting year among the target group. Employees
still within their training completion deadline such as recent
new hires, people on long leave of absence as well as
employees in Ukraine are excluded from the calculations. The
number of employees who have completed the training is
collected from Konecranes’ learning management system.
Konecranes’ Code of Conduct training program is further
explained in G1-1 Business conduct policies and corporate
culture. The basic training is mandatory for all employees
every second year, whereas the Refresher training is
mandatory for staff employees every other year. The training
completion is reviewed for the period of the reporting year.
The exclusion of Ukrainian employees from the statistics of the
Code of Conduct trainings may change if the circumstances in
Ukraine change materially.
2
Employee engagement: The target is measured by the
share of positive replies to Employee Engagement Survey
questions 1) “Management of my unit is committed to
integrity and ethical business practices” and 2) “I would
feel comfortable reporting unethical behavior if I saw it in
Konecranes” at the time of the last survey conducted. The
shares of different replies in the Employee Engagement
Survey are collected from the survey tool used to manage
the survey and to analyze the answers.
Stakeholders have been involved in target setting by
discussing the targets in the relevant governing body.
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Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Entity-specific information: Cyber-
preparedness and enterprise resilience
Impacts, risks and opportunities
As stated in General information, Konecranes has assessed
cyber-preparedness and enterprise resilience as an entity-
specific, material topic for Konecranes. The Company
has identified negative impacts through the continuity of
operations as well as risks and opportunities related to
cybersecurity. Further information about the impacts, risks
and opportunities can be found in ESRS 2 SBM-3 Material
impacts, risks and opportunities and their interaction with
strategy and business model. The current risk landscape
shows that industrial manufacturing continues to be
one of the most attacked industries in the cyber realm.
Cybersecurity regulations, such as the EU NIS2 and the EU
Cyber Resilience Act, are bringing new cybersecurity rules
to ensure enterprise resilience and more secure hardware
and software products. To meet market expectations and
reduce risks, Konecranes has a cybersecurity strategy,
ambition, governance and objectives with a detailed
roadmap for the upcoming years.
Policies with respect to cyber-preparedness and
enterprise resilience
Konecranes’ strategic security objectives laid down in the
Information Security Policy are to deliver safe and secure
material handling solutions, improve cyber-preparedness
and enterprise resilience, and ensure people are empowered
with the right knowledge, skills, and tools to make cyber-
aware decisions. Information about the key content, scope,
accountability for the implementation, and availability of the
Information Security Policy can be found in ESRS 2 MDR-P
Policies adopted to manage material impacts, risks and
opportunities.
Management of cyber-preparedness and enterprise
resilience
Konecranes’ Information Security Management System
(ISMS) is based on and certified against the ISO 27001
standard. Konecranes’ Cybersecurity Steering Group directs
the development of cybersecurity at Konecranes, and the
Cybersecurity unit, together with business units and Group
functions, implements the developments with a dedicated
security budget. The organizational roles, responsibilities
and competence requirements are defined in Konecranes’
ISMS Handbook. Information security topics are regularly
reported to Konecranes’ Leadership Team, Konecranes’
Audit Committee, and further to Konecranes’ Board of
Directors, when needed.
Konecranes’ systematic approach to managing information
security aims to ensure that all relevant information security
risks are identified and mitigated. A set of security controls
has been implemented to protect the information assets
and to ensure the confidentiality, integrity and availability
of Konecranes’ products and services. These technical
and organizational security measures cover topics such
as asset management, access control, secure software
development, incident management and information
security aspects of business continuity management.
For example, Konecranes’ information security incident
management process defines how to handle information
security incidents, and Incident Response playbooks define
actual guidelines on responding to incidents. Devices and
networks are monitored, and Security Information and
Event Management together with the Security Operations
Center is used to identify abnormal behavior or potential
cyberattacks. Processes are in place for vulnerability
management, malware protection and information system
audits. Konecranes’ Information Technology unit and
information technology suppliers also follow incident,
problem and change management processes to ensure
the availability, stability and security of the information
technology environment. In 2025, Konecranes had one
security incident which required advanced investigation.
The case did not have material impacts on Konecranes’
information or continuity. More information on Konecranes’
security controls is available on Konecranes.com/cyber.
The scope of Konecranes’ Information Security Management
System covers all of Konecranes, including Information
Technology, Operational Technology and Konecranes’
products and services, as well as the global business
applications and information technology infrastructure. This
increases cyber-preparedness and enterprise resilience. The
ISO/IEC 27001 management system certification process
continues.
To enable cybersecurity performance and to secure the
Company’s own and its customers’ information, it is essential
that employees’ awareness of and level of knowledge on
information security topics is maintained. Konecranes has a
mandatory cybersecurity training for all employees, which
must be completed during employee onboarding, and after
that, every time the training module is updated. In 2025, we
have continued the implementation of the latest module that
was launched at the end of 2024, and by the end of 2025
over 96 percent of our employees have finished the module.
Additionally, Konecranes has trainings tailored to different
employee groups’ needs available, and during 2025 we
have created additional trainings around supply chains,
understanding customer requirements and application
security. These now cover the various aspects of information
security in different job roles to increase employees’ ability
to recognize and respond to cyber threats. Konecranes also
has comprehensive guidelines available to its employees
and regularly implements awareness activities on its internal
forums and channels. During 2025 these campaigns mainly
focused on secure use of Generative AI and how to combat
phishing and vishing.
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
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ESRS 2 – Appendix B List of datapoints in cross-cutting and topical standards that derive from other EU legislation
The following table lists ESRS datapoints that derive from other EU legislation and the page numbers where these datapoints
are disclosed as material. Datapoints assessed as not material are marked as “not material,” while the datapoints subject to
phasing-in omission are labeled “phasing-in omission.”
Disclosure Requirement and related
datapoint
SFDR
reference
Pillar 3 reference Benchmark Regulation reference EU Climate Law reference
Page / Not
material
ESRS 2 GOV-1
Board’s gender diversity paragraph
21 (d)
Indicator number 13 of Table #1 of
Annex 1
Commission Delegated Regulation
(EU) 2020/1816, Annex II
54
ESRS 2 GOV-1
Percentage of board members who
are independent paragraph 21 (e)
Delegated Regulation (EU) 2020/1816,
Annex II
54
ESRS 2 GOV-4
Statement on due diligence
paragraph 30
Indicator number 10 Table #3 of
Annex 1
57-58
ESRS 2 SBM-1
Involvement in activities related to
fossil fuel paragraph 40 (d) i
Indicator number 4 Table #1 of Annex 1 Article 449a Regulation (EU) No
575/2013; Commission Implementing
Regulation (EU) 2022/2453 Table
1: Qualitative information on
Environmental risk and Table 2:
Qualitative information on Social risk
Delegated Regulation (EU) 2020/1816,
Annex II
Not applicable
ESRS 2 SBM-1
Involvement in activities related to
chemical production paragraph 40
(d) ii
Indicator number 9 Table #2 of Annex 1 Delegated Regulation (EU) 2020/1816,
Annex II
Not applicable
ESRS 2 SBM-1
Involvement in activities related to
controversial weapons paragraph 40
(d) iii
Indicator number 14 Table #1 of Annex 1 Delegated Regulation (EU) 2020/1818
Article 12(1), Delegated Regulation (EU)
2020/1816, Annex II
Not applicable
ESRS 2 SBM-1
Involvement in activities related to
cultivation and production of tobacco
paragraph 40 (d) iv
Regulation (EU) 2020/1818 Article 12(1),
Delegated Regulation (EU) 2020/1816,
Annex II
Not applicable
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Disclosure Requirement and related
datapoint
SFDR
reference
Pillar 3 reference Benchmark Regulation reference EU Climate Law reference
Page / Not
material
ESRS E1-1
Transition plan to reach climate
neutrality by 2050 paragraph 14
Regulation (EU) 2021/1119, Article 2(1) 79-80
ESRS E1-1
Undertakings excluded from Paris-
aligned Benchmarks paragraph 16 (g)
Article 449a Regulation (EU) No
575/2013; Commission Implementing
Regulation (EU) 2022/2453 Template
1: Banking book - Climate Change
transition risk: Credit quality of
exposures by sector, emissions and
residual maturity
Article 12.1 (d) to (g), and Article 12.2 80
ESRS E1-4
GHG emission reduction targets
paragraph 34
Indicator number 4 Table #2 of Annex 1 Article 449a Regulation (EU) No
575/2013; Commission Implementing
Regulation (EU) 2022/2453 Template
3: Banking book Climate change
transition risk: alignment metrics
Delegated Regulation (EU) 2020/1818,
Article 6
83
ESRS E1-5
Energy consumption from fossil
sources disaggregated by sources
(only high climate impact sectors)
paragraph 38
Indicator number 5 Table #1 and
Indicator n. 5 Table #2 of Annex 1
86
E1-5
Energy consumption and mix
paragraph 37
Indicator number 5 Table #1 of Annex 1 86
ESRS E1-5
Energy intensity associated with
activities in high climate impact
sectors paragraphs 40 to 43
Indicator number 6 Table #1 of Annex 1 86
ESRS E1-6
Gross Scope 1, 2, 3 and Total GHG
emissions paragraph 44
Indicators number 1 and 2 Table #1 of
Annex 1
Article 449a Regulation (EU) No
575/2013; Commission Implementing
Regulation (EU) 2022/2453 Template
1: Banking book Climate change
transition risk: Credit quality of
exposures by sector, emissions and
residual maturity
Delegated Regulation (EU) 2020/1818,
Article 5(1), 6 and 8 (1)
87
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Disclosure Requirement and related
datapoint
SFDR
reference
Pillar 3 reference Benchmark Regulation reference EU Climate Law reference
Page / Not
material
ESRS E1-6
Gross GHG emissions intensity
paragraphs 53 to 55
Indicator number 3 Table #1 of Annex 1 Article 449a Regulation (EU) No
575/2013; Commission Implementing
Regulation (EU) 2022/2453 Template
3: Banking book Climate change
transition risk: alignment metrics
Delegated Regulation (EU) 2020/1818,
Article 8(1)
90
ESRS E1-7
GHG removals and carbon credits
paragraph 56
Regulation (EU) 2021/1119,
Article 2(1)
Not material
ESRS E1-9
Exposure of the benchmark portfolio
to climate-related physical risks
paragraph 66
Delegated Regulation (EU) 2020/1818,
Annex II; Delegated Regulation (EU)
2020/1816, Annex II
Omitted due
to phased-in
disclosure
requirement
ESRS E1-9
Disaggregation of monetary amounts
by acute and chronic physical risk
paragraph 66 (a)
ESRS E1-9
Location of significant assets at
material physical risk paragraph 66 (c).
Article 449a Regulation (EU) No
575/2013; Commission Implementing
Regulation (EU) 2022/2453
paragraphs 46 and 47; Template 5:
Banking book
- Climate change physical risk:
Exposures subject to physical risk
Omitted due
to phased-in
disclosure
requirement
ESRS E1-9
Breakdown of the carrying value
of its real estate assets by energy-
efficiency classes paragraph 67 (c).
Article 449a Regulation (EU) No
575/2013; Commission Implementing
Regulation (EU) 2022/2453 paragraph
34; Template 2: Banking book
-Climate change transition risk: Loans
collateralized by immovable property
- Energy efficiency of the collateral
Omitted due
to phased-in
disclosure
requirement
ESRS E1-9
Degree of exposure of the portfolio to
climate-related opportunities
paragraph 69
Delegated Regulation (EU) 2020/1818,
Annex II
Omitted due
to phased-in
disclosure
requirement
ESRS E2-4
Amount of each pollutant listed in
Annex II of the E-PRTR Regulation
(European Pollutant Release and
Transfer Register) emitted to air, water
and soil, paragraph 28
Indicator number 8 Table #1 of Annex 1
Indicator number 2 Table #2 of Annex 1
Indicator number 1 Table #2 of Annex 1
Indicator number 3 Table #2 of Annex 1
Not material
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Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Disclosure Requirement and related
datapoint
SFDR
reference
Pillar 3 reference Benchmark Regulation reference EU Climate Law reference
Page / Not
material
ESRS E3-1
Water and marine resources
paragraph 9
Indicator number 7 Table #2 of Annex 1 Not material
ESRS E3-1
Dedicated policy paragraph 13
Indicator number 8 Table 2 of Annex 1 Not material
ESRS E3-1
Sustainable oceans and seas
paragraph 14
Indicator number 12 Table #2 of
Annex 1
Not material
ESRS E3-4
Total water recycled and reused
paragraph 28 (c)
Indicator number 6.2 Table #2 of
Annex 1
Not material
ESRS E3-4
Total water consumption in m3 per net
revenue on own operations paragraph
29
Indicator number 6.1 Table #2 of
Annex 1
Not material
ESRS 2 - IRO 1 - E4
paragraph 16 (a)
Indicator number 7 Table #1 of Annex 1 Not material
ESRS 2 - IRO 1 - E4
paragraph 16 (b)
Indicator number 10 Table #2 of Annex 1 Not material
ESRS 2 - IRO 1 - E4
paragraph 16 (c)
Indicator number 14 Table #2 of Annex 1 Not material
ESRS E4-2
Sustainable land / agriculture
practices or policies paragraph 24 (b)
Indicator number 11 Table #2 of Annex 1 Not material
ESRS E4-2
Sustainable oceans / seas practices or
policies paragraph 24 (c)
Indicator number 12 Table #2 of Annex 1 Not material
ESRS E4-2
Policies to address deforestation
paragraph 24 (d)
Indicator number 15 Table #2 of Annex 1 Not material
ESRS E5-5
Non-recycled waste paragraph 37 (d)
Indicator number 13 Table #2 of Annex 1 Not material
118
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Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Disclosure Requirement and related
datapoint
SFDR
reference
Pillar 3 reference Benchmark Regulation reference EU Climate Law reference
Page / Not
material
ESRS E5-5
Hazardous waste and radioactive
waste paragraph 39
Indicator number 9 Table #1 of Annex 1 Not material
ESRS 2- SBM3 - S1
Risk of incidents of forced labor
paragraph 14 (f)
Indicator number 13 Table #3 of Annex I 93
ESRS 2- SBM3 - S1
Risk of incidents of child labor
paragraph 14 (g)
Indicator number 12 Table #3 of Annex I 93
ESRS S1-1
Human rights policy commitments
paragraph 20
Indicator number 9 Table #3 and
Indicator number 11 Table #1 of Annex I
93
ESRS S1-1
Due diligence policies on issues
addressed by the fundamental
International Labor Organization
Conventions 1 to 8, paragraph 21
Delegated Regulation (EU) 2020/1816,
Annex II
93-94
ESRS S1-1
Processes and measures for
preventing trafficking in human
beings paragraph 22
Indicator number 11 Table #3 of Annex I 93-94
ESRS S1-1
Workplace accident prevention
policy or management system
paragraph 23
Indicator number 1 Table #3 of Annex I 94
ESRS S1-3
Grievance/complaints handling
mechanisms paragraph 32 (c)
Indicator number 5 Table #3 of Annex I 95-96
ESRS S1-14
Number of fatalities and number
and rate of work-related accidents
paragraph 88 (b) and (c)
Indicator number 2 Table #3 of Annex I Delegated Regulation (EU) 2020/1816,
Annex II
102
ESRS S1-14
Number of days lost to injuries,
accidents, fatalities or illness
paragraph 88 (e)
Indicator number 3 Table #3 of Annex I 102
119
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Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Disclosure Requirement and related
datapoint
SFDR
reference
Pillar 3 reference Benchmark Regulation reference EU Climate Law reference
Page / Not
material
ESRS S1-16
Unadjusted gender pay gap
paragraph 97 (a)
Indicator number 12 Table #1 of Annex I Delegated Regulation (EU) 2020/1816,
Annex II
Not material
ESRS S1-16
Excessive CEO pay ratio paragraph
97 (b)
Indicator number 8 Table #3 of Annex I Not material
ESRS S1-17
Incidents of discrimination paragraph
103 (a)
Indicator number 7 Table #3 of Annex I Not material
ESRS S1-17
Non-respect of UNGPs on Business
and Human Rights and OECD
paragraph 104 (a)
Indicator number 10 Table #1 and
Indicator n. 14 Table #3 of Annex I
Delegated Regulation (EU) 2020/1816,
Annex II; Delegated Regulation (EU)
2020/1818 Art 12 (1)
Not material
ESRS 2- SBM3 S2
Significant risk of child labor or forced
labor
in the value chain paragraph 11 (b)
Indicators number 12 and n. 13 Table #3
of Annex I
Temporary
exception,
S2 reported
according to
ESRS 2, 1
ESRS S2-1
Human rights policy commitments
paragraph 17
Indicator number 9 Table #3 and
Indicator n. 11 Table #1 of Annex 1
Temporary
exception,
S2 reported
according to
ESRS 2, 1
ESRS S2-1
Policies related to value chain
workers paragraph 18
Indicator number 11 and n. 4 Table #3
of Annex 1
103 (ESRS 2, 17)
ESRS S2-1
Non-respect of UNGPs on Business
and Human Rights principles and
OECD guidelines paragraph 19
Indicator number 10 Table #1 of Annex 1 Delegated Regulation (EU) 2020/1816,
Annex II; Delegated Regulation (EU)
2020/1818, Art 12 (1)
Temporary
exception,
S2 reported
according to
ESRS 2, 1
ESRS S2-1
Due diligence policies on issues
addressed by the fundamental
International Labor Organization
Conventions 1 to 8, paragraph 19
Delegated Regulation (EU) 2020/1816,
Annex II
Temporary
exception,
S2 reported
according to
ESRS 2, 1
ESRS S2-4
Human rights issues and incidents
connected to its upstream and
downstream value chain paragraph 36
Indicator number 14 Table #3 of Annex 1 Not material
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Remuneration Report
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Disclosure Requirement and related
datapoint
SFDR
reference
Pillar 3 reference Benchmark Regulation reference EU Climate Law reference
Page / Not
material
ESRS S3-1
Human rights policy commitments
paragraph 16
Indicator number 9 Table #3 of Annex
1 and Indicator number 11 Table #1 of
Annex 1
Not material
ESRS S3–1
Non-respect of UNGPs on Business
and Human Rights, ILO principles or
OECD guidelines paragraph 17
Indicator number 10 Table #1 Annex 1 Delegated Regulation (EU) 2020/1816,
Annex II; Delegated Regulation (EU)
2020/1818, Art 12 (1)
Not material
ESRS S3-4
Human rights issues and incidents
paragraph 36
Indicator number 14 Table #3 of Annex 1 Not material
ESRS S4-1 Policies related to
consumers and end-users paragraph
16
Indicator number 9 Table #3 and
Indicator number 11 Table #1 of Annex 1
106 (ESRS 2, 17)
ESRS S4-1
Non-respect of UNGPs on Business
and Human Rights and OECD
guidelines paragraph 17
Indicator number 10 Table #1 of Annex 1 Delegated Regulation (EU) 2020/1816,
Annex II; Delegated Regulation (EU)
2020/1818, Art 12 (1)
Temporary
exception,
S4 reported
according to
ESRS 2, 17
ESRS S4-4
Human rights issues and incidents
paragraph 35
Indicator number 14 Table #3 of Annex 1 Temporary
exception,
S4 reported
according to
ESRS 2, 17
ESRS G1-1 United Nations Convention
against Corruption paragraph 10 (b)
Indicator number 15 Table #3 of Annex 1 109
ESRS G1-1
Protection of whistleblowers
paragraph 10 (d)
Indicator number 6 Table #3 of Annex 1 Not material
ESRS G1-4
Fines for violation of anti-corruption
and anti-bribery laws paragraph 24 (a)
Indicator number 17 Table #3 of Annex 1 Delegated Regulation (EU) 2020/1816,
Annex II
Not material
ESRS G1-4
Standards of anti-corruption and anti-
bribery paragraph 24 (b)
Indicator number 16 Table #3 of Annex 1 Not material
121
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
LITIGATION
Various legal actions, claims, and other proceedings are
pending against the Group in different countries. These
actions, claims, and other proceedings are typical for this
industry and are consistent with the global business offering
that encompasses a wide range of products and services.
These matters involve contractual disputes, warranty claims,
product liability (including design defects, manufacturing
defects, failure to warn, and asbestos legacy), employment,
auto liability, and other matters involving liability claims.
STOCK EXCHANGE RELEASES DURING 2025
Date Release
December 18, 2025
Change in the composition of Konecranes Plc's
Shareholders' Nomination Board
December 17, 2025
Change in Konecranes Leadership Team
December 17, 2025
The Board of Directors of Konecranes Plc has
decided to continue the Employee Share Savings
Plan
December 17, 2025
The Board of Directors of Konecranes Plc has
decided to establish a new Performance Share Plan
November 14, 2025
Inside information, profit warning: Konecranes
upgrades its profitability guidance for 2025
November 05, 2025
Change in Konecranes Leadership Team: Jussi
Rautiainen appointed President, Business Area
Industrial Equipment
October 23, 2025
Konecranes Plc's financial reports and Annual
General Meeting in 2026
October 23, 2025
Konecranes Plc's Interim report, January-September
2025: Record-high comparable EBITA margin and
excellent order intake
July 24, 2025
Konecranes Plc's Half-year financial report, January-
June 2025: Strong performance continued
June 9, 2025
Composition of Konecranes Plc's Shareholders'
Nomination Board
May 20, 2025
Inside information: Konecranes updates its financial
targets
Date Release
May 15, 2025
Inside information: Marko Tulokas appointed
President and CEO of Konecranes
April 24, 2025
Konecranes Plc’s Interim report, January-March
2025: Q1 - A good start to the year 2025
April 3, 2025
The amendment of the Articles of Association of
Konecranes Plc has been registered in the Finnish
Trade Register
March 27, 2025
Konecranes Plc: Board of Directors' organizing
meeting
March 27, 2025
Resolutions of Konecranes Plc's Annual General
Meeting of shareholders
February 28, 2025
Konecranes Plc's Annual Report 2024 published
February 7, 2025
Konecranes Plc's Board of Directors convenes the
Annual General Meeting 2025
February 7, 2025
Konecranes Plc's Financial statement release 2024:
Q4 - A strong end to an excellent year
February 6, 2025
The Board of Directors of Konecranes Plc has
decided to continue the Employee Share Savings
Plan
February 6, 2025
The Board of Directors of Konecranes Plc has
decided to establish a new Performance Share Plan
January 20, 2025
Inside Information: President and CEO Anders
Svensson will leave Konecranes
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
CORPORATE PRESS RELEASES DURING 2025
Date Release
July 2, 2025
Konecranes to deliver 39 cranes to Hitachi Energy's
new transformer factory in Finland
June 17, 2025
Konecranes at TOC Europe 2025: introducing the
E-Hybrid RTG and electric empty container handler
on a global scale
April 30, 2025
Port of Naples cargo operator invests in energy-
efficient Konecranes Gottwald Mobile Harbor Crane
April 28, 2025
Dutch terminal invests in its 8[th]Konecranes
Gottwald Mobile Harbor Crane to increase
performance and support eco-efficient growth
April 25, 2025
Linda Häkkilä appointed Vice President, Investor
Relations, at Konecranes
April 22, 2025
GCT Global Container Terminals orders 10 hybrid
Konecranes RTGs and first battery-powered
Konecranes RTG to reduce emissions at British Co-
lumbia terminals
April 16, 2025
Italian container terminal to cut operational
emissions with electric Konecranes Gottwald Mobile
Harbor Crane
April 10, 2025
Konecranes' Interim report, January-March 2025 will
be published on April 24, 2025
April 09, 2025
Invitation to Konecranes Capital Markets Day 2025
on May 20, 2025
April 03, 2025
Port Houston orders 16 new hybrid Konecranes RTGs
and retrofits eight existing units
April 02, 2025
Bulgarian port places first order for new Konecranes
Gottwald Mobile Harbor Cranes, building on long-
term success with pre-owned units
March 26, 2025
First order from Saguenay Port Authority brings
electric-driven Konecranes Gottwald Mobile Harbor
Crane to Canada
March 14, 2025
Konecranes' momentum in Spain continues with CSP
Iberian Valencia Terminal order for seven hybrid RTGs
Date Release
March 6, 2025
Sicily's largest port gets productivity boost with
hybrid drive Konecranes Gottwald Mobile Harbor
Crane
February 14, 2025
Boluda Maritime Terminals Tenerife orders four
Konecranes hybrid RTGs to improve container
handling efficiency in the Canary Islands
February 13, 2025
Belgium's Katoen Natie invests in four all-electric
Konecranes Gottwald Mobile Harbor Cranes to
modernize operations at the Port of Antwerp
February 10, 2025
Konecranes receives highest possible CDP
Leadership ranking in recognition of the
performance and transparency of its climate work
February 10, 2025
Terminales Marítimas de Vigo increases eco-efficient
productivity with two Konecranes hybrid RTGs
January 24, 2025
Konecranes' Financial statement release 2024 will be
published on February 7, 2025
January 21, 2025
World's largest bulk export port authority chooses
two Konecranes Gottwald Mobile Harbor Cranes to
boost lifting capacity
Date Release
December 17, 2025
Konecranes announces new near-term science-
based emission reduction target for own operations
to reflect greater ambition and strong progress
November 25, 2025
Konecranes expands Ecolifting portfolio with new
electric reach stacker to satisfy future port industry
electrification needs
October 31, 2025
Indian container terminal invests in 30 Konecranes
RTGs with E-Hybrid technology
October 21, 2025
Konecranes at TOC Americas: introducing the
Hydrogen Fuel Cell Straddle Carrier
October 9, 2025
Konecranes' January-September 2025 interim report
will be published on October 23, 2025
October 8, 2025
OPCSA switches to Konecranes Port Services with
five-year service agreement
September 26,
2025
Alabama Port Authority selects Konecranes RTGs to
establish operational efficiency at new intermodal
terminal
September 18,
2025
Major Colombian Container Terminal extends its
Konecranes-led yard modernization with new
order for 25 RTGs and 10 more retrofits for remote
supervision
September 16,
2025
Konecranes achieves first-ever Platinum rating from
EcoVadis for its sustainability efforts
September 11, 2025
OPCSA invests in eight more hybrid Konecranes
RTGs to drive growth in the Canary Islands
July 18, 2025
Hutchison Ports ECT Rotterdam (ECT) orders a
Konecranes Automated Horizontal Transport System
to modernize and electrify operations
July 10, 2025
Super Terminais orders three more Konecranes
Gottwald ESP.10 Mobile Harbor Cranes to expand its
Amazon River operations
July 10, 2025
Konecranes' January-June 2025 half-year financial
report will be published on July 24, 2025
123
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Remuneration Report
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
EVENTS AFTER THE END OF THE
REPORTING PERIOD
No meaningful events after December 31, 2025.
Demand outlook
Within the industrial customers segment, we expect our
demand environment to remain on a healthy level. For our
port customers, container throughput continues to be on
a high level, and the long-term prospects for container
handling remain good. However, uncertainty related to
geopolitics and trade policy tensions remains high.
Financial guidance
Konecranes expects net sales to remain approximately on
the same level or to increase in 2026 compared to 2025, and
comparable EBITA margin to remain approximately on the
same level in 2026 compared to 2025.
Board of Directors’ proposal for
disposal of distributable funds
The parent company’s non-restricted equity is EUR
1,185,044,656.31 of which the net income for the year is EUR
268,672,841.21. The Group’s non-restricted equity is EUR
2,010,440,000.
According to the Finnish Companies Act, the distributable
funds of the company are calculated based on the parent
company’s non-restricted equity. For the purpose of
determining the amount of the dividend, the Board of
Directors has assessed the liquidity of the parent company
and the economic circumstances subsequent to the end of
fiscal year.
Based on such assessments, the Board of Directors
proposes to the Annual General Meeting to be held on
26 March 2026 that a dividend of EUR 2.25 be paid on
each share and that the remaining non-restricted equity
is retained in shareholders’ equity. The proposal will be
included in the notice to the Annual General Meeting, which
will be published during February 2026.
Konecranes’ full audited financial statements, including the
report of the Board of Directors, and corporate governance
statement will be available on Konecranes website on
Monday, March 2, 2026.
Espoo, February 05, 2026
Konecranes Plc
Board of Directors
124
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Konecranes Group 2021−2025
Business development 2025 2024 2023 2022 2021
Orders received MEUR 4,389.3 3,999.6 4,161.4 4,227.9 3,446.9
Order book MEUR 2,988.4 2,888.4 3,040.8 2,901.7 2,036.8
Net sales MEUR 4,187.8 4,227.0 3,966.3 3,364.8 3,185.7
of which outside Finland MEUR 4,072.9 4,131.4 3,864.6 3,262.0 3,098.1
Export from Finland MEUR 1,117.2 1,205.7 1,148.5 789.6 955.2
Personnel on average 16,614 16,656 16,503 16,563 16,625
Personnel on December 31 16,469 16,842 16,586 16,522 16,573
Capital expenditure MEUR 68.5 65.7 54.4 37.0 49.8
as % of Net sales % 1.6% 1.6% 1.4% 1.1% 1.6%
Research and development costs MEUR 78.1 59.8 51.3 47.7 47.7
as % of Net sales % 1.9% 1.4% 1.3% 1.4% 1.5%
Profitability
Net sales MEUR 4,187.8 4,227.0 3,966.3 3,364.8 3,185.7
Comparable EBITA MEUR 588.1 551.6 450.7 318.4 312.2
as % of net sales % 14.0% 13.1% 11.4% 9.5% 9.8%
Comparable operating profit MEUR 553.4 520.7 419.7 286.6 279.1
as % of net sales % 13.2% 12.3% 10.6% 8.5% 8.8%
Operating profit MEUR 542.4 511.4 402.5 223.2 220.0
as % of net sales % 13.0% 12.1% 10.1% 6.6% 6.9%
Income before taxes MEUR 516.5 485.3 367.6 190.7 192.5
as % of net sales % 12.3% 11.5% 9.3% 5.7% 6.0%
Net income
(incl. non-controlling interest)
MEUR 399.8 368.4 275.6 138.5 147.4
as % of net sales % 9.5% 8.7% 6.9% 4.1% 4.6%
Key figures and balance sheet 2025 2024 2023 2022 2021
Equity (incl.
non-controlling interest)
MEUR 2,087.4 1,857.7 1,594.8 1,433.0 1,360.6
Balance sheet MEUR 4,550.8 4,788.3 4,552.4 4,340.6 3,845.8
Return on equity % 20.3 21.3 18.2 9.9 11.3
Return on capital employed % 20.7 20.3 16.4 9.0 9.3
Current ratio 1.4 1.4 1.4 1.6 1.2
Equity to asset ratio % 53.8 44.4 41.1 37.9 38.9
Net working capital MEUR 284.4 378.6 353.6 490.2 350.6
Interest-bearing net debt MEUR -163.5 183.5 365.8 688.3 541.6
Gearing % -7.8 9.9 22.9 48.0 39.8
Shares in figures
Earnings per share, basic EUR 5.05 4.65 3.48 1.77 1.86
Earnings per share, diluted EUR 5.03 4.63 3.46 1.77 1.85
Equity per share EUR 26.35 23.45 20.14 18.10 17.08
Cash flow per share EUR 7.19 6.21 7.04 0.84 2.13
Dividend per share EUR 2.25* 1.65 1.35 1.25 1.25
Dividend /earnings % 44.6 35.5 38.8 70.6 67.2
Effective dividend yield % 2.4 2.7 3.3 4.3 3.6
Price /earnings 18.6 13.2 11.7 16.2 18.9
Trading low / high** EUR 47.78/94.20 38.09/68.60 28.29/41.38 19.61/38.43 28.80/42.31
Average share price** EUR 68.88 53.30 33.68 27.14 36.41
Share price on December 31** EUR 93.90 61.20 40.78 28.76 35.16
Year-end market capitalization MEUR 7,438.2 4,847.6 3,229.9 2,276.8 2,782.4
Number traded*** (1,000) 57,186 42,936 70,349 87,275 56,561
Stock turnover % 72.2 54.2 88.8 110.3 71.5
Average number of shares
outstanding, basic
(1,000) 79,214 79,209 79,196 79,152 79,134
Average number of shares
outstanding, diluted
(1,000) 79,551 79,488 79,583 79,508 79,607
Number of shares outstanding,
at end of the period
(1,000) 79,214 79,209 79,202 79,167 79,134
* The Board’s proposal to the AGM
** Source: Nasdaq Helsinki
*** Source: Intercontinental Exchange
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Calculation of key figures
Operating profit (EBIT)
Sales + Other operating income - Materials, supplies and subcontracting -
Personnel cost - Depreciation and impairment - Other operating expenses
Comparable EBITA
Operating profit (EBIT) + purchase price allocation impacts and impairment +
restructuring costs + transaction costs + other items affecting comparability
Comparable Operating profit
Operating proft (EBIT) + restructuring costs + transaction costs + other items
affecting comparability
Return on equity (%):
Net profit for the period
X 100
Total equity (average during the period)
Return on capital employed
(%):
Income before taxes + interest paid + other financing cost
X 100
Total amount of equity and liabilities - non-interest bearing debts
(average during the period)
Current ratio:
Current assets
Current liabilities
Equity to asset ratio (%):
Shareholders’ equity
X 100
Total amount of equity and liabilities - advance payment received
Gearing (%):
Interest-bearing liabilities - cash and cash equivalents - loans receivable
X 100
Total equity
Earnings per share:
Net profit for the shareholders of the parent company
Average number of shares outstanding
Earnings per share, diluted:
Net profit for the shareholders of the parent company
Average fully diluted number of shares outstanding
Equity per share:
Equity attributable to the shareholders of the parent company
Number of shares outstanding
Cash flow per share:
Net cash flow from operating activities
Average number of shares outstanding
Effective dividend yield (%):
Dividend per share
X 100
Share price at the end of financial year
Price per earnings:
Share price at the end of financial year
Earnings per share
Net working capital:
Non interest-bearing current assets excluding income tax receivables and other
financial assets (derivatives) – Non interest-bearing current liabilities excluding
income tax payables and other financial liabilities (derivatives) – long-term provisions
Interest-bearing net debt:
Interest-bearing liabilities (non-current and current) - cash and cash
equivalents - loans receivable (non-current and current)
Year-end market capitalization: Number of shares outstanding multiplied by the share price at the end of year
Average number of personnel: Calculated as average of number of personnel in quarters
Number of shares outstanding: Total number of shares - treasury shares
Operating profit and EBITA are used to measure business profitability before
financial items and taxes. Comparable operating profit and Comparable EBITA
are used to reflect the underlying business performance and to enhance
comparability between financial periods and is frequently used by management,
analysts and investors. See also note 3 for reconciliation.
Return on equity represents the rate of return that shareholders receive on their
investments. Return on capital employed represents relative profitability or the
rate of return that has been received on capital employed requiring interest or
other return.
Current ratio, Equity to asset ratio, Interest-bearing net debt, Interest-bearing
net debt / Equity are used to measure solvency and indebtedness of Konecranes
Group. Some of Konecranes’ loan agreements include a covenant measured
by Gearing ratio. Capital expenditure and Net working capital give additional
information of the cash flows and funding needs of Konecranes Group. Share
related alternative performance measures enhance the information on equity,
cash flow and dividend attributable to the shareholders and development of
Konecranes share value in the stock exchange.
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Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Reconciliation of certain alternative
performance measures
Reconciliation of comparable operating profit and comparable EBITA (MEUR) 2025 2024
Operating profit 542.4 511.4
Restructuring costs
Employment termination costs 7.6 7.1
Impairments of non-current assets 0.0 0.0
Impairments of inventories 0.1 0.8
Other restructuring costs and income 2.2 1.6
Restructuring costs, total 9.9 9.5
Costs (-)/ income (+) related to other IAC 1.1 -0.2
Comparable operating profit 553.4 520.7
Purchase price allocation and goodwill impairment impacts 34.7 31.0
Comparable EBITA 588.1 551.6
Reconciliation of interest-bearing net debt
Interest-bearing liabilities 469.8 895.6
Loans receivable -1.4 -2.1
Cash and cash equivalents -631.9 -710.0
Interest-bearing net debt -163.5 183.5
Reconciliation of net working capital
Total current assets 2,569.0 2,719.0
- Interest-bearing current assets -0.5 -2.1
- Other financial assets -22.9 -11.4
- Income tax receivables -26.8 -23.5
- Cash and cash equivalents -631.9 -710.0
Non-interest-bearing current assets 1,886.8 1,972.1
Total current liabilities -1,777.2 -1,991.1
- Current interest-bearing liabilities 166.2 356.3
- Other financial liabilities 6.4 27.3
- Income tax payables 39.1 46.7
Non-interest-bearing current liabilities -1,565.6 -1,560.8
Non-current provisions -36.8 -32.8
Net working capital 284.4 378.6
127
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Consolidated financial statements (IFRS)
Consolidated statement of income
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Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
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Consolidated statement of income − IFRS
(EUR 1,000,000) Jan 1–Dec 31, 2025 Jan 1–Dec 31, 2024
Note:
3,5,6 Sales 4,187.8 4,227.0
Other operating income 9.0 10.5
7 Materials, supplies and subcontracting -1,795.1 -1,878.2
7,8 Personnel cost -1,270.7 -1,264.0
9 Depreciation and impairments -136.4 -120.5
7 Other operating expenses -452.2 -463.4
Operating profit 542.4 511.4
4,16 Share of associates' and joint ventures' result 0.9 0.6
10 Financial income 37.0 31.2
10 Financial expenses -63.7 -57.9
Profit before taxes 516.5 485.3
11 Taxes -116.8 -116.9
PROFIT FOR THE PERIOD 399.8 368.4
Profit for the period attributable to
Shareholders of the parent company 399.8 368.4
Non-controlling interest 0.0 0.0
12 Earnings per share, basic (EUR) 5.05 4.65
12 Earnings per share, diluted (EUR) 5.03 4.63
CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOME
(EUR 1,000,000) Jan 1–Dec 31, 2025 Jan 1–Dec 31, 2024
Note:
Profit for the period 399.8 368.4
Items that can be reclassified into
profit or loss
34 Cash flow hedges 14.2 -15.7
Exchange differences on translating
foreign operations
-45.8 13.8
11.3
Income tax relating to items that can be
reclassified into profit or loss
-2.8 3.1
Items that cannot be reclassified into
profit or loss
28
Re-measurement gains (losses) on
defined benefit plans
11.3
Income tax relating to items that cannot
be reclassified into profit or loss
-4.5 -0.6
Other comprehensive income
for the period, net of tax
-24.0 2.3
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD
Total comprehensive income
attributable to:
Shareholders of the parent company 375.8 370.7
Non-controlling interest 0.0 0.0
The accompanying notes form an integral part of the consolidated financial statements.
128
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Notes to the consolidated financial statements
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Board of Directors’ proposal to the Annual
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Consolidated balance sheet − IFRS
EQUITY AND LIABILITIES
(EUR 1,000,000) Dec 31, 2025 Dec 31, 2024
Note:
Equity attributable to equity holders
of the parent company
Share capital 30.1 30.1
Share premium 39.3 39.3
Paid in capital 752.7 752.7
34 Fair value reserves 7.5 -3.8
Translation difference -40.7 5.1
Other reserve 55.0 70.5
Retained earnings 843.6 595.4
Net profit for the period 399.8 368.4
23
Total equity attributable to equity
holders of the parent company
16 Non-controlling interest 0.0 0.0
Total equity 2,087.4 1,857.7
Non-current liabilities
26,27,32 Interest-bearing liabilities 303.7 539.3
28 Other long-term liabilities 213.2 229.3
24 Provisions 36.8 32.8
17 Deferred tax liabilities 132.5 138.1
Total non-current liabilities 686.2 939.5
Current liabilities
26,27,32 Interest-bearing liabilities 166.2 356.3
6 Advance payments received 671.0 608.1
Accounts payable 326.8 344.2
24 Provisions 101.5 100.8
25
Other short-term liabilities (non-interest-
bearing)
32 Other financial liabilities 6.4 27.3
Income tax payables 39.1 46.7
Accrued costs related to delivered goods
and services
25 Accruals 202.0 235.9
Total current liabilities 1,777.2 1,991.1
Total liabilities 2,463.4 2,930.6
TOTAL EQUITY AND LIABILITIES 4,550.8 4,788.3
The accompanying notes form an integral part of the consolidated financial statements.
ASSETS
(EUR 1,000,000) Dec 31, 2025 Dec 31, 2024
Note:
Non-current assets
13 Goodwill 1,041.1 1,058.4
14 Intangible assets 417.7 449.9
15 Property, plant and equipment 419.6 433.5
Construction in progress 20.0 24.4
16
Investments accounted for using the
equity method
Other non-current assets 1.7 0.8
17 Deferred tax assets 75.4 95.2
Total non-current assets 1,981.8 2,069.2
Current assets
18 Inventories 913.4 946.3
19 Accounts receivable 579.5 643.6
20 Other receivables 24.0 33.3
Income tax receivables 26.8 23.5
6 Contract assets 234.5 232.5
32 Other financial assets 22.9 11.4
21 Deferred assets 136.0 118.5
22 Cash and cash equivalents 631.9 710.0
Total current assets 2,569.0 2,719.1
TOTAL ASSETS 4,550.8 4,788.3
129
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Consolidated statement of changes in equity − IFRS
Equity attributable to equity holders of the parent company
(EUR 1,000,000) Share capital
Share
premium
account
Paid in
capital
Cash flow
hedges
Translation
difference
Other
reserve
Retained
earnings Total
Non-
controlling
interest
Total
equity
Balance at January 1, 2025 30.1 39.3 752.7 -3.8 5.1 70.5 963.8 1,857.7 0.0 1,857.7
Dividends paid to equity holders -130.7 -130.7 -130.7
Equity-settled share-based payments
(note 29)
-15.5 0.0 -15.5 -15.5
Acquisitions 0.0 0.0 0.0
Profit for the period 399.8 399.8 399.8
Other comprehensive income 11.3 -45.8 10.5 -24.0 -24.0
Total comprehensive income 11.3 -45.8 410.3 375.8 0.0 375.8
Balance at December 31, 2025 30.1 39.3 752.7 7.5 -40.7 55.0 1,243.4 2,087.4 0.0 2,087.4
Balance at January 1, 2024 30.1 39.3 752.7 8.8 -8.7 71.2 701.4 1,594.8 0.0 1,594.8
Dividends paid to equity holders -106.9 -106.9 -106.9
Equity-settled share-based payments
(note 29)
-0.7 0.0 -0.7 -0.7
Acquisitions -0.2 -0.2 -0.2
Profit for the period 368.4 368.4 368.4
Other comprehensive income -12.6 13.8 1.1 2.3 2.3
Total comprehensive income -12.6 13.8 369.5 370.7 0.0 370.7
Balance at December 31, 2024 30.1 39.3 752.7 -3.8 5.1 70.5 963.8 1,857.7 0.0 1,857.7
130
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Board of Directors’ proposal to the Annual
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Consolidated cash flow statement − IFRS
(EUR 1,000,000) Jan 1−Dec 31, 2025 Jan 1−Dec 31, 2024
Note:
Cash flow from operating activities
Profit for the period 399.8 368.4
Adjustments to net profit for the period
Taxes 116.8 116.9
Financial income and expenses 26.9 26.7
Share of associates' and joint ventures' result -0.9 -0.6
Dividends income -0.2 0.0
Depreciation and impairments 136.4 120.5
Profits and losses on sale of fixed assets -1.0 -1.1
Other adjustments -14.3 0.6
Operating income before change in
net working capital
Change in interest-free current receivables -6.1 -50.1
Change in inventories -6.2 62.0
Change in interest-free current liabilities 62.4 -17.2
Change in net working capital 50.1 -5.3
Cash flow from operations before financing
items and taxes
Interest received 38.2 50.0
Interest paid -64.7 -73.9
Other financial income and expenses 7.5 -2.2
11 Income taxes paid -125.1 -108.4
Financing items and taxes -144.0 -134.5
NET CASH FROM OPERATING ACTIVITIES 569.5 491.6
(EUR 1,000,000) Jan 1−Dec 31, 2025 Jan 1−Dec 31, 2024
Note:
Cash flow from investing activities
4 Acquisition of Group companies, net of cash -3.2 -46.7
Proceeds from disposal of associated company 0.9 0.1
Capital expenditures -49.4 -69.2
Proceeds from sale of property, plant and
equipment and other
Dividends received 0.2 0.0
NET CASH USED IN INVESTING ACTIVITIES -42.0 -111.0
Cash flow before financing activities 527.5 380.6
Cash flow from financing activities
27.6 Proceeds from borrowings 150.0 100.0
27.6 Repayments of borrowings -555.0 -202.1
27.6 Repayments of lease liability -54.4 -47.3
27.6
Proceeds from (+), payments of (-) current
borrowings
-1.8 -0.8
Change in non-current loan receivable -0.8 0.0
Change in current loans receivable 1.5 0.5
Acquired non-controlling interest 0.0 -0.2
Dividends paid to equity holders of the parent
company
-130.7 -106.9
NET CASH USED IN FINANCING ACTIVITIES -591.2 -256.8
Translation differences in cash -14.3 -0.4
CHANGE OF CASH AND CASH EQUIVALENTS -78.0 123.4
Cash and cash equivalents at beginning of period 710.0 586.6
22 Cash and cash equivalents at end of period 631.9 710.0
CHANGE OF CASH AND CASH EQUIVALENTS -78.0 123.4
The accompanying notes form an integral part of the consolidated financial statements.
131
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Board of Directors’ proposal to the Annual
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Board of Directors’ proposal to the Annual
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8. Personnel expenses
and number of personnel
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Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
163
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Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
164
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Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
165
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Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
166
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Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
167
Corporate Governance Statement 2025
Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
1
168
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Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
169
Corporate Governance Statement 2025
Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
170
Corporate Governance Statement 2025
Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
171
Corporate Governance Statement 2025
Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
172
Corporate Governance Statement 2025
Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
173
Corporate Governance Statement 2025
Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
174
Corporate Governance Statement 2025
Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
175
Corporate Governance Statement 2025
Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
176
Corporate Governance Statement 2025
Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
177
Corporate Governance Statement 2025
Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
178
Corporate Governance Statement 2025
Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
179
Corporate Governance Statement 2025
Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
180
Corporate Governance Statement 2025
Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Parent company statement of income − FAS
(EUR 1,000) Jan 1–Dec 31, 2025 Jan 1–Dec 31, 2024
Note:
2 Depreciation and impairments -63 -106
3 Other operating expenses -7,671 -8,432
Operating profit -7,734 -8,538
4 Financial income and expenses 180,257 131,948
Income before appropriations and taxes 172,523 123,410
5 Appropriations 123,372 100,250
6 Income taxes -27,222 -23,574
Net income 268,673 200,086
181
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Parent company balance sheet − FAS
(EUR 1,000) Dec 31, 2025 Dec 31, 2024
Note:
ASSETS
NON-CURRENT ASSETS
Tangible assets
7 Machinery and equipment 59 122
59 122
8 Investments
Investments in Group companies 153,040 153,040
Other shares and similar rights of ownership 171 171
153,211 153,211
Total non-current assets 153,270 153,333
CURRENT ASSETS
Long-term receivables
Loans receivable from Group companies 880,559 812,143
880,559 812,143
Short-term receivables
Accounts receivable 5 2
Amounts owed by Group companies
Accounts receivable 9,966 6,106
10 Deferred assets 223,051 159,061
Other receivables 212 338
10 Deferred assets 318 60
233,551 165,566
Cash in hand and at banks 3 3
Total current assets 1,114,113 977,712
TOTAL ASSETS 1,267,383 1,131,046
(EUR 1,000) Dec 31, 2025 Dec 31, 2024
Note:
SHAREHOLDERS’ EQUITY AND LIABILITIES
11 EQUITY
Share capital 30,073 30,073
Share premium account 39,307 39,307
Paid in capital 776,239 776,239
Retained earnings 140,132 70,750
Net income for the period 268,673 200,086
1,254,424 1,116,455
LIABILITIES
Current liabilities
Accounts payable 7,045 2,880
Liabilities owed to Group companies
Accounts payable 79 470
Other short-term liabilities 2,673 7,788
12 Accruals 3,163 3,453
12,959 14,591
Total liabilities 12,959 14,591
TOTAL SHAREHOLDERS’ EQUITY AND
LIABILITIES
1,267,383 1,131,046
182
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Parent company cash flow − FAS
(EUR 1,000) Jan 1–Dec 31, 2025 Jan 1–Dec 31, 2024
Cash flow from operating activities
Operating income -7,734 -8,538
Adjustments to operating profit
Depreciation and impairments 63 106
Group contributions from subsidiaries 100,250 64,250
Other adjustments -8 0
Operating income before changes in net working capital 92,571 55,818
Change in interest-free short-term receivables -5,291 979
Change in interest-free short-term liabilities 3,495 1,119
Change in net working capital -1,796 2,098
Cash flow from operations before financing items and taxes 90,775 57,916
Interest received 19,659 30,679
Interest paid -6 -36
Other financial income and expenses 41 -43
Income taxes paid -32,349 -27,747
Financing items and taxes -12,655 2,852
NET CASH FROM OPERATING ACTIVITIES 78,120 60,768
(EUR 1,000) Jan 1–Dec 31, 2025 Jan 1–Dec 31, 2024
Cash flow from investing activities
Dividends received 121,000 51,350
NET CASH USED IN INVESTING ACTIVITIES 121,000 51,350
Cash flow before financing activities 199,120 112,118
Cash flow from financing activities
Repayments of long-term receivables -68,416 -5,185
Dividends paid -130,704 -106,932
NET CASH USED IN FINANCING ACTIVITIES -199,119 -112,118
Cash and cash equivalents at beginning of period 3 3
Cash and cash equivalents at end of period 3 3
CHANGE OF CASH AND CASH EQUIVALENTS 0 0
183
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Notes to the parent company’s Financial Statement
1. Accounting principles
The financial statements of the company have been
prepared in euro and in accordance with accounting
principles generally accepted in Finland.
STATEMENT OF INCOME
(EUR 1,000,000)
2. Depreciation and impairments
2025 2024
Machinery and equipment 0.1 0.1
Total 0.1 0.1
2025 2024
Wages and salaries 7.7 6.2
Pension costs 0.8 0.8
Other personnel expenses 0.2 0.1
Other operating expenses 2.2 0.8
Total 10.9 7.9
2025 2024
Remuneration to Board 0.8 0.8
Other wages and salaries 6.9 5.4
Total 7.7 6.2
The average number of personnel 9 7
Auditors fees
Audit 0.9 0.8
Other services 0.3 0.2
Total 1.2 1.0
2025 2024
Financial income from long-term
investments:
Dividend income from Group companies 161.0 101.4
Dividend income total 161.0 101.4
Interest income from long-term
receivables:
From Group companies 19.1 30.5
Other interest income 0.1 0.2
Interest income from long-term
receivables total
19.2 30.7
Financial income from long-term
investments total
180.2 132.0
Interest expenses and other financial
expenses:
Other financial expenses 0.0 0.1
Interest expenses and other financial
expenses total
0.0 0.1
Financial income and expenses total 180.3 131.9
3. Other operating expenses and
personnel
Costs and expenses in the Statement of Income were as
follows:
Wages and salaries in accordance with the Statement of
Income:
4. Financial income and expenses
5. Appropriations
6. Income taxes
BALANCE SHEET
7. Machinery and equipment
2025 2024
Group contributions received from
subsidiaries
123.4 100.3
Total 123.4 100.3
2025 2024
Taxes on appropriations 24.7 20.1
Taxes on ordinary operations 2.5 4.5
Taxes from previous years 0.0 -1.0
Total 27.2 23.6
2025 2024
Acquisition costs as of January 1 1.2 1.2
Acquisition costs as of December 31 1.2 1.2
Accumulated depreciation January 1 -1.1 -1.0
Accumulated depreciation -0.1 -0.1
Total as of December 31 0.0 0.1
The values of fixed assets are based on original acquisition
values. Depreciation periods, which are based on estimated
financial operating times, are as follows:
• Immaterial rights 5–10 years
• Machines and inventory 4–10 years
184
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Remuneration Report
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
8. Investments 11. Equity
9. Treasury shares
10. Deferred assets
13. Contingent liabilities
and pledged assets
14. Nominal and fair values of derivative
financial instruments
2025 2024
Acquisition costs as of January 1 153.2 153.2
Total as of December 31 153.2 153.2
2025 2024
Share capital as of January 1 30.1 30.1
Share capital as of December 31 30.1 30.1
Share premium account January 1 39.3 39.3
Share premium account as of
December 31
39.3 39.3
Paid in capital as of January 1 776.2 776.2
Paid in capital as of December 31 776.2 776.2
Retained earnings as of January 1 270.8 177.7
Dividend paid -130.7 -106.9
Retained earnings as of December 31 140.1 70.8
Net income for the period 268.7 200.1
Shareholders' equity as of December 31 1,254.4 1,116.5
Distributable equity
Paid in capital as of December 31 776.2 776.2
Retained earnings as of December 31 140.1 70.8
Net income for the period 268.7 200.1
Total 1,185.0 1,047.1
2025 2024
Number of shares as of January 1 12,788 19,656
Decrease -5,151 -6,868
Number of shares as of December 31 7,637 12,788
2025 2024
Group contributions 123.4 100.3
Payments which will be realized during
the next financial year
98.1 56.7
Interest 2.1 2.5
Total 223.6 159.5
2025 2024
For obligations of subsidiaries
Group guarantees 709.3 1,116.2
Leasing liabilities
Next year 0.2 0.2
Later on 0.1 0.2
Total 0.3 0.3
2025 2025 2024 2024
Fair
value
Nominal
value
Fair
value
Nominal
value
Foreign ex-
change forward
contracts
0.0 4.2 0.0 2.1
2025 2024
Total by category
Guarantees 709.3 1,116.2
Other liabilities 0.3 0.3
Total 709.7 1,116.6
2025 2024
Domicile
Carrying
amount
Carrying
amount
Konecranes Finance Corp. Hyvinkää 46.4 46.4
Konecranes Finland Corp. Hyvinkää 4.2 4.2
Konecranes Global Corp. Hyvinkää 102.4 102.4
Total 153.0 153.0
2025 2024
East Office of Finnish Industries Oy 0.1 0.1
Dimecc Oy 0.1 0.1
China Office of Finnish Industries 0.0 0.0
Total 0.2 0.2
Investments in Group companies
Other shares and similar rights of ownership
Leasing contracts mainly have a maturity of three years and
they have no terms of redemption.
Derivatives are used for currency rate hedging only.
The derivative financial instruments are recognized
according to KPL 5:2a at fair value in the parent company
financial statements and the company does not apply hedge
accounting for these derivatives.
12. Accruals
2025 2024
Wages, salaries and other personnel
expenses
2.6 3.2
Other items 0.6 0.3
Total 3.2 3.5
185
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Board of Directors’ proposal to the
Annual General Meeting
The parent company’s non-restricted equity is EUR 1,185,044,656.31 of which the net income
for the year is EUR 268,672,841.21.
The Group’s non-restricted equity is EUR 2,010,440,000.
According to the Finnish Companies Act, the distributable funds of the company are
calculated based on the parent company’s non-restricted equity. For the purpose of
determining the amount of the dividend, the Board of Directors has assessed the liquidity of
the parent company and the economic circumstances subsequent to the financial year-end.
Based on such assessments, the Board of Directors proposes to the Annual General Meeting
that a dividend of EUR 2.25 will be paid on each share and that the remaining non-restricted
equity is retained in shareholders’ equity.
The financial statements, prepared in accordance with applicable accounting regulations,
give a true and fair view of the assets, liabilities, financial position, and profit or loss of both the
company and the group of companies included in its consolidated financial statements.
The management report contains a truthful description of the development and result of
the business operations of both the company and the group of companies included in its
consolidated financial statements, as well as a description of the most significant risks and
uncertainties and other aspects of the company’s condition.
Pasi Laine
Chair of the Board
Ulf Liljedahl
Board member
Sami Piittisjärvi
Board member
Thomas Schulz
Board member
Marko Tulokas
CEO
Pauli Anttila
Board member
Gun Nilsson
Board member
Päivi Rekonen
Board member
Birgit Seeger
Board member
The sustainability report included in the management report has been prepared in
accordance with the reporting standards referred to in Chapter 7 of the Finnish Accounting
Act and Article 8 of the Taxonomy Regulation.
Espoo, February 5, 2026
186
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Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
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Financial Review 2025
Auditor’s report
(Translation of the Finnish original)
To the Annual General Meeting of Konecranes Plc
Report on the Audit of Financial Statements
Opinion
We have audited the financial statements of Konecranes
Plc (business identity code 0942718-2) for the year ended
31 December 2025. The financial statements comprise
the consolidated balance sheet, statement of income,
statement of comprehensive income, statement of changes
in equity, statement of cash flows and notes, including
material accounting policy information, as well as the parent
company’s balance sheet, income statement, statement of
cash flows and notes.
In our opinion
• the consolidated financial statements give a true and
fair view of the group’s financial position, financial
performance and cash flows in accordance with IFRS
Accounting Standards as adopted by the EU.
• the financial statements give a true and fair view of the
parent company’s financial performance and financial
position in accordance with the laws and regulations
governing the preparation of financial statements in
Finland and comply with statutory requirements.
Our opinion is consistent with the additional report
submitted to the Audit Committee.
Basis for Opinion
We conducted our audit in accordance with good auditing
practice in Finland. Our responsibilities under good
auditing practice are further described in the Auditor’s
Responsibilities for the Audit of Financial Statements section
of our report.
We are independent of the parent company and of the group
companies in accordance with the ethical requirements that
are applicable in Finland and are relevant to our audit, and we
have fulfilled our other ethical responsibilities in accordance
with these requirements.
In our best knowledge and understanding, the non-audit
services that we have provided to the parent company
and group companies are in compliance with laws and
regulations applicable in Finland regarding these services,
and we have not provided any prohibited non-audit services
referred to in Article 5 (1) of regulation (EU) 537/2014. The non-
audit services that we have provided have been disclosed in
note 7.1 to the consolidated financial statements and note 3
to the parent company financial statements.
We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.
Key Audit Matters
Key audit matters are those matters that, in our professional
judgment, were of most significance in our audit of the
financial statements of the current period. These matters
were addressed in the context of our audit of the financial
statements as a whole, and in forming our opinion thereon,
and we do not provide a separate opinion on these matters.
We have fulfilled the responsibilities described in the
Auditor’s Responsibilities for the Audit of the Financial
Statements section of our report, including in relation
to these matters. Accordingly, our audit included the
performance of procedures designed to respond to our
assessment of the risks of material misstatement of the
financial statements. The results of our audit procedures,
including the procedures performed to address the
matters below, provide the basis for our audit opinion on the
accompanying financial statements.
We have also addressed the risk of management override
of internal controls. This includes consideration of whether
there was evidence of management bias that represented a
risk of material misstatement due to fraud.
187
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Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
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Financial Review 2025
Key Audit Matter for the audit of the consolidated
financial statements
How our audit addressed the Key Audit Matter
Revenue recognition of long-term contracts and
related provisions
Refer to note 2.2 Use of estimates and judgments,
note 2.3 Summary of significant accounting policies,
note 5, note 6 and note 24.
In accordance with its accounting principles,
Konecranes applies the percentage of completion
(PoC) method (performance obligations satisfied
over time) for recognizing revenue from long-term
projects. The percentage of completion is based on
the cost-to-cost method.
The percentage of completion method of
accounting involves the use of significant
management assumptions, estimates and
projections, principally relating to future material,
labor and project-related overhead costs and
the estimated stage of completion. In year 2025,
approximately 14 % percent of the sales of 4.2
billion euro were recognized under the PoC method.
Revenue recognition of long-term contracts is a key
audit matter and a significant risk of misstatement as
defined by EU Regulation No 537/2014, point (c) of
Article 10(2).
Konecranes typically records several types of
provisions related to risks associated with long-
term project contracts and PoC accounting.
These PoC related provisions require high level of
management judgment and are a key audit matter
due to that reason.
Our audit procedures to address the risk of material
misstatement in respect of the long-term contracts
included among others:
• Assessing the Group’s accounting policies over
revenue recognition of long-term contracts;
• Gaining an understanding of the PoC revenue
recognition process;
• Examination of the project documentation
and testing the PoC calculations and inputs of
estimates in the calculations and comparing the
estimates to actuals;
• Analytical procedures;
• Assessing significant judgments made by
management based on an examination of the
associated project documentation and discussion
on the status of projects under construction with
finance and project managers of the Company; and
• Assessing the Group’s disclosures in respect of
revenue recognition.
We have designed our audit procedures to be
responsive to this specific audit area and our
procedures included among others:
• Gaining an understanding of the PoC related
provisions process;
• Testing the provision calculations and the inputs
of estimates in these calculations and comparing
estimates to actuals; and
• Performing inquiries with management with
regards to any significant events or legal matters
that could affect the provisions.
Key Audit Matter for the audit of the consolidated
financial statements
How our audit addressed the Key Audit Matter
Revenue recognition
Refer to note 2.3 Summary of significant accounting
policies and note 5.
According to the Group’s accounting policies
revenue is recognized at an amount of consideration
to which the Group expects to be entitled in
exchange for transferring promised goods or
services to a customer. Goods and services are
generally considered to be transferred when the
customer obtains control. The terms and conditions
of sales contracts vary by market and, in addition, the
local management might feel pressure to achieve the
revenue targets set.
Revenue recognition is a key audit matter and a
significant risk of material misstatement as defined
by EU Regulation No 537/2014, point (c) of Article
10(2) due to the significant risk relating to an incorrect
timing of recognition of revenue.
Our audit procedures to address the risk of material
misstatement in respect of correct timing of revenue
recognition included among others:
• Analytical procedures;
• Assessing the Group’s accounting policies over
revenue recognition compared to applicable
accounting standards;
• Assessing the revenue recognition process and
–methodologies and testing controls;
• Testing revenue with substantive analytical
procedures and by testing sales transactions;
• Assessing the Group’s disclosures in respect of
revenues.
Valuation of goodwill
Refer to note 2.2 Use of estimates and judgments,
note 2.3 Summary of significant accounting policies
and note 13.
The value of goodwill at the date of the financial
statements amounted to 1.0 billion euros
representing 23 % of total assets and 50 % of equity
(2024: 1.1 billion euros, 22% of the total assets and 57
% of equity).
Valuation of goodwill is tested annually through
goodwill impairment test. Konecranes has allocated
goodwill to cash generating units (CGUs) which is the
level for goodwill impairment test. The recoverable
amount of a cash generating unit is based on value
in use calculations, the outcome of which could
vary significantly if different assumptions were
applied. There are a number of assumptions used
to determine the value in use of the cash generating
units, including revenue growth, profitability and
the discount rate applied. Changes in the above-
mentioned assumptions may result in an impairment
of goodwill.
Our audit procedures to address the risk of
material misstatement relating to goodwill
valuation included among others, involving our
valuation specialists to assist us in evaluating
the assumptions and methodologies used by
the Group, in particular those relating to the
discount rate. We specifically focused on the cash
generating units for which reasonably possible
changes in assumptions could cause the carrying
value to exceed its recoverable amount. We also
assessed the historical accuracy of managements’
estimates. We assessed the Group’s disclosures
in note 13 in the financial statements about
the assumptions to which the outcome of the
impairment tests were more sensitive.
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Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Responsibilities of the Board of Directors and the Managing
Director for the Financial Statements
The Board of Directors and the Managing Director are
responsible for the preparation of consolidated financial
statements that give a true and fair view in accordance
with IFRS Accounting Standards as adopted by the EU,
and of financial statements that give a true and fair view
in accordance with the laws and regulations governing
the preparation of financial statements in Finland and
comply with statutory requirements. The Board of Directors
and the Managing Director are also responsible for such
internal control as they determine is necessary to enable
the preparation of financial statements that are free from
material misstatement, whether due to fraud or error.
In preparing the financial statements, the Board of Directors
and the Managing Director are responsible for assessing
the parent company’s and the group’s ability to continue as
going concern, disclosing, as applicable, matters relating
to going concern and using the going concern basis of
accounting. The financial statements are prepared using
the going concern basis of accounting unless there is an
intention to liquidate the parent company or the group or
cease operations, or there is no realistic alternative but to
do so.
Auditor’s Responsibilities for the Audit
of the Financial Statements
Our objectives are to obtain reasonable assurance on
whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error,
and to issue an auditor’s report that includes our opinion.
Reasonable assurance is a high level of assurance, but is
not a guarantee that an audit conducted in accordance
with good auditing practice will always detect a material
misstatement when it exists. Misstatements can arise from
fraud or error and are considered material if, individually or in
aggregate, they could reasonably be expected to influence
the economic decisions of users taken on the basis of the
financial statements.
As part of an audit in accordance with good auditing
practice, we exercise professional judgment and maintain
professional skepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of
the financial statements, whether due to fraud or error,
design and perform audit procedures responsive to
those risks, and obtain audit evidence that is sufficient
and appropriate to provide a basis for our opinion. The
risk of not detecting a material misstatement resulting
from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional
omissions, misrepresentations, or the override of
internal control.
• Obtain an understanding of internal control relevant
to the audit in order to design audit procedures that
are appropriate in the circumstances, but not for the
purpose of expressing an opinion on the effectiveness
of the parent company’s or the group’s internal control.
• Evaluate the appropriateness of accounting policies
used and the reasonableness of accounting estimates
and related disclosures made by management.
• Conclude on the appropriateness of the Board of
Directors’ and the Managing Director’s use of the going
concern basis of accounting and based on the audit
evidence obtained, whether a material uncertainty
exists related to events or conditions that may cast
significant doubt on the parent company’s or the
group’s ability to continue as a going concern. If we
conclude that a material uncertainty exists, we are
required to draw attention in our auditor’s report to
the related disclosures in the financial statements or, if
such disclosures are inadequate, to modify our opinion.
Our conclusions are based on the audit evidence
obtained up to the date of our auditor’s report.
However, future events or conditions may cause the
parent company or the group to cease to continue as a
going concern.
Key Audit Matter for the audit of the consolidated
financial statements
How our audit addressed the Key Audit Matter
The annual impairment test is a key audit matter
because
• The assessment process is complex and is based
on numerous judgmental estimates;
• It is based on assumptions relating to market or
economic conditions; and
• Of the significance of the goodwill to the balance
sheet total.
Valuation of goodwill is a significant risk of misstate-
ment as defined by EU Regulation No 537/2014, point
(c) of Article 10(2).
189
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Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
• Evaluate the overall presentation, structure and content
of the financial statements, including the disclosures,
and whether the financial statements represent the
underlying transactions and events so that the financial
statements give a true and fair view.
• Plan and perform the group audit to obtain sufficient
appropriate audit evidence regarding the financial
information of the entities or business units within
the group as a basis for forming an opinion on the
group financial statements. We are responsible for
the direction, supervision and review of the audit work
performed for purposes of the group audit. We remain
solely responsible for our audit opinion.
We communicate with those charged with governance
regarding, among other matters, the planned scope and
timing of the audit and significant audit findings, including
any significant deficiencies in internal control that we identify
during our audit.
We also provide those charged with governance with a
statement that we have complied with relevant ethical
requirements regarding independence, and communicate
with them all relationships and other matters that may
reasonably be thought to bear on our independence, and
where applicable, related safeguards.
From the matters communicated with those charged with
governance, we determine those matters that were of most
significance in the audit of the financial statements of the
current period and are therefore the key audit matters. We
describe these matters in our auditor’s report unless law or
regulation precludes public disclosure about the matter or
when, in extremely rare circumstances, we determine that a
matter should not be communicated in our report because
the adverse consequences of doing so would reasonably be
expected to outweigh the public interest benefits of such
communication.
Other Reporting Requirements
Information on our audit engagement
We were first appointed as auditors by the Annual General
Meeting on March 8, 2006, and our appointment represents
a total period of uninterrupted engagement of 20 years.
Other information
The Board of Directors and the Managing Director are
responsible for the other information. The other information
comprises the report of the Board of Directors and the
information included in the Annual Report, but does not
include the financial statements and our auditor’s report
thereon. We have obtained the report of the Board of
Directors prior to the date of this auditor’s report, and the
Annual Report is expected to be made available to us after
that date.
Our opinion on the financial statements does not cover the
other information.
In connection with our audit of the financial statements,
our responsibility is to read the other information identified
above and, in doing so, consider whether the other
information is materially inconsistent with the financial
statements or our knowledge obtained in the audit, or
otherwise appears to be materially misstated. With respect
to report of the Board of Directors, our responsibility also
includes considering whether the report of the Board
of Directors has been prepared in compliance with the
applicable provisions, excluding the sustainability report
information on which there are provisions in Chapter 7 of the
Accounting Act and in the sustainability reporting standards.
In our opinion, the information in the report of the Board of
Directors is consistent with the information in the financial
statements and the report of the Board of Directors has been
prepared in compliance with the applicable provisions. Our
opinion does not cover the sustainability report information
on which there are provisions in Chapter 7 of the Accounting
Act and in the sustainability reporting standards.
If, based on the work we have performed on the other
information that we obtained prior to the date of this
auditor’s report, we conclude that there is a material
misstatement of this other information, we are required to
report that fact. We have nothing to report in this regard.
Other statements based on law
Our responsibility is to, based on our audit, express an
opinion on the registration and publication of the income tax
report required in Chapter 7 b of the Accounting Act.
The Board of Directors and the Managing Director are
responsible for the registration and the publication of the
income tax report.
In our opinion, the company has not been obliged to register
and publish an income tax report referred to in Chapter 7
b of the Accounting Act for the financial year immediately
preceding the financial year.
Opinions based on assignment of the Audit Committee
We support that the financial statements should be adopted.
The proposal by the Board of Directors regarding the use of the
distributable equity shown in the balance sheet for the parent
company is in compliance with the Limited Liability Companies
Act. We support that the Members of the Board of Directors
and the Managing Director of the parent company should be
discharged from liability for the financial period audited by us.
Espoo, February 5, 2026
Ernst & Young Oy
Authorized Public Accountant Firm
Toni Halonen
Authorized Public Accountant
190
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Remuneration Report
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Assurance report on the Sustainability Statement
(Translation of the Finnish original)
To the Annual General Meeting of Konecranes Plc
We have performed a limited assurance engagement
on the group sustainability statement of Konecranes Plc
(business identity code 0942718-2) that is referred to in
Chapter 7 of the Accounting Act and that is included in the
report of the Board of Directors for the reporting period
1.1.–31.12.2025.
Opinion
Based on the procedures we have performed and
the evidence we have obtained, nothing has come to
our attention that causes us to believe that the group
sustainability statement does not comply, in all material
respects, with
1) the requirements laid down in Chapter 7 of the
Accounting Act and the sustainability reporting
standards (ESRS), and
2) the requirements laid down in Article 8 of the Regulation
(EU) 2020/852 of the European Parliament and of
the Council on the establishment of a framework
to facilitate sustainable investment, and amending
Regulation (EU) 2019/2088 (EU Taxonomy).
Point 1 above also contains the process in which Konecranes
Plc has identified the information for reporting in
accordance with the sustainability reporting standards
(double materiality assessment).
Our opinion does not cover the tagging of the group
sustainability statement with digital XBRL sustainability tags
in accordance with Chapter 7, Section 22, Subsection 1(2),
of the Accounting Act, because sustainability reporting
companies have not had the possibility to comply with that
requirement in the absence of requirements for the tagging
of sustainability information in the ESEF regulation or other
European Union legislation.
Basis for Opinion
We performed the assurance of the group sustainability
statement as a limited assurance engagement in compliance
with good assurance practice in Finland and with the
International Standard on Assurance Engagements (ISAE)
3000 (Revised) Assurance Engagements Other than Audits
or Reviews of Historical Financial Information.
Our responsibilities under this standard are further described
in the Responsibilities of the Authorized Group Sustainability
Auditor section of our report.
We believe that the evidence we have obtained is sufficient
and appropriate to provide a basis for our opinion.
Authorized Group Sustainability Auditor’s Independence
and Quality Management
We are independent of the parent company and of the group
companies in accordance with the ethical requirements that
are applicable in Finland and are relevant to our engagement,
and we have fulfilled our other ethical responsibilities in
accordance with these requirements.
The Authorized Group Sustainability Auditor applies
International Standard on Quality Management ISQM 1,
which requires the Authorized Sustainability Audit Firm
to design, implement and operate a system of quality
management including policies or procedures regarding
compliance with ethical requirements, professional
standards and applicable legal and regulatory
requirements.
Responsibilities of the Board of Directors
and the Managing Director
The Board of Directors and the Managing Director of
Konecranes Plc are responsible for:
• the group sustainability statement and for its
preparation and presentation in accordance with the
provisions of Chapter 7 of the Accounting Act, including
the process that has been defined in the sustainability
reporting standards and in which the information
for reporting in accordance with the sustainability
reporting standards has been identified as well as
the tagging of information as referred to in Chapter 7,
Section 22 of the Accounting Act”
• the compliance of the group sustainability statement
with the requirements laid down in Article 8 of the
Regulation (EU) 2020/852 of the European Parliament
and of the Council on the establishment of a framework
to facilitate sustainable investment, and amending
Regulation (EU) 2019/2088, and for
• such internal control as the Board of Directors and the
Managing Director determine is necessary to enable the
preparation of a group sustainability statement that is
free from material misstatement, whether due to fraud
or error.
191
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Remuneration Report
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Inherent Limitations in the Preparation of
a Sustainability Statement
The preparation of the group sustainability statement
requires a materiality assessment from the company in
order to identify relevant disclosures. This significantly
involves management judgment and choices. Group
Sustainability reporting is also characterized by the fact
that reporting of this type of information involves estimates
and assumptions, as well as measurement and assessment
uncertainty.
The determination of greenhouse gases is subject to
inherent uncertainty due to the incomplete scientific data
used to determine the emission factors and the numerical
values needed to combine emissions of different gases.
When reporting future-related information in accordance
with the ESRS standards, the company’s management must
present assumptions regarding possible future events and
disclose the company’s potential future actions related to
these events, as well as prepare future-related information
based on these assumptions. The actual outcome is
likely to differ, as predicted events often do not occur as
expected.
Responsibilities of the Authorized
Group Sustainability Auditor
Our responsibility is to perform an assurance engagement
to obtain limited assurance about whether the group
sustainability statement is free from material misstatement,
whether due to fraud or error, and to issue a limited assurance
report that includes our opinion. Misstatements can arise
from fraud or error and are considered material if, individually
or in the aggregate, they could reasonably be expected to
influence the decisions of users taken on the basis of the
group sustainability statement.
Compliance with the International Standard on Assurance
Engagements (ISAE) 3000 (Revised) requires that we
exercise professional judgment and maintain professional
skepticism throughout the engagement. We also:
• Identify and assess the risks of material misstatement
of the group sustainability statement, whether due to
fraud or error, and obtain an understanding of internal
control relevant to the engagement in order to design
assurance procedures that are appropriate in the
circumstances, but not for the purpose of expressing
an opinion on the effectiveness of the parent
company’s or the group’s internal control.
• Design and perform assurance procedures responsive
to those risks to obtain evidence that is sufficient and
appropriate to provide a basis for our opinion. The risk
of not detecting a material misstatement resulting
from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional
omissions, misrepresentations, or the override of
internal control.
Description of the Procedures That Have Been Performed
The procedures performed in a limited assurance
engagement vary in nature and timing from, and are less
in extent than for, a reasonable assurance engagement.
The nature, timing and extent of assurance procedures
selected depend on professional judgment, including
the assessment of risks of material misstatement,
whether due to fraud or error. Consequently, the level of
assurance obtained in a limited assurance engagement
is substantially lower than the assurance that would have
been obtained had a reasonable assurance engagement
been performed.
Our procedures included for ex. the following:
• We have interviewed the management of group as
well as key personnel responsible for collecting and
reporting of the information included in the group
sustainability statement.
• Through interviews, we gained an understanding of
the group’s control environment related to the group
sustainability reporting process.
• We evaluated the implementation of the company’s
double materiality assessment process in relation to the
requirements of the ESRS standards, as well as whether
the information provided from the double materiality
assessment is in material respects in accordance with
the ESRS standards.
• We assessed whether the group sustainability
statement in material respects meets the requirements
of the ESRS standards regarding material sustainability
topics:
- We have tested the accuracy of the information
presented in the group sustainability statement
by comparing the information on a sample basis
to the documentation and records prepared by
the company and assessed whether they support
the information included in the group sustainability
statement.
- We have on a sample basis performed analytical
assurance procedures and related inquiries,
recalculations and inspected documentation,
as well as tested data aggregation to assess the
accuracy of the group sustainability statement.
• We conducted site visits at selected locations.
• Regarding EU Taxonomy data, we gained an
understanding of the process by which a company
has defined taxonomy-eligible and taxonomy-aligned
economic activities, and we assessed the compliance
of the information provided.
Helsinki 5.2.2026
Ernst & Young Oy
Authorized Sustainability Audit Firm
Toni Halonen
Authorized Sustainability Auditor
192
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Remuneration Report
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Independent Auditor’s Report on the ESEF Consolidated
Financial Statements of Konecranes Plc
(Translation of the Finnish original)
To the Board of Directors of Konecranes Plc
We have performed a reasonable assurance engagement on
the financial statements 549300EF0CDEQZBMA096-2025-
12-31-fi.zip of Konecranes Plc (y-identifier: 0942718-2) that have
been prepared in accordance with the Commission’s regulatory
technical standard for the financial year ended 31.12.2025.
Responsibilities of the Board of Directors
and the Managing Director
The Board of Directors and the Managing Director are
responsible for the preparation of the company’s report
of Board of Directors and financial statements (the ESEF
financial statements) in such a way that they comply with
the requirements of the Commission’s regulatory technical
standard. This responsibility includes:
• preparing the ESEF financial statements in XHTML format in
accordance with Article 3 of the Commission’s regulatory
technical standard
• tagging the primary financial statements, notes and
company’s identification data in the consolidated
financial statements that are included in the ESEF financial
statements with iXBRL tags in accordance with Article 4 of
the Commission’s regulatory technical standard and
• ensuring the consistency between the ESEF financial
statements and the audited financial statements.
The Board of Directors and the Managing Director are also
responsible for such internal control as they determine
is necessary to enable the preparation of ESEF financial
statements in accordance the requirements of the
Commission’s regulatory technical standard.
Auditor’s Independence and Quality Management
We are independent of the company in accordance with
the ethical requirements that are applicable in Finland and
are relevant to the engagement we have performed, and we
have fulfilled our other ethical responsibilities in accordance
with these requirements.
The firm applies International Standard on Quality
Management (ISQM) 1, which requires the firm to design,
implement and operate a system of quality management
including policies or procedures regarding compliance with
ethical requirements, professional standards and applicable
legal and regulatory requirements.
Auditor’s Responsibilities
Our responsibility is to, in accordance with Chapter 7, Section
8 of the Securities Markets Act, provide assurance on the
financial statements that have been prepared in accordance
with the Commission’s technical regulatory standard. We
express an opinion on whether the consolidated financial
statements that are included in the ESEF financial statements
have been tagged, in all material respects, in accordance
with the requirements of Article 4 of the Commission’s
regulatory technical standard.
Our responsibility is to indicate in our opinion to what
extent the assurance has been provided. We conducted
a reasonable assurance engagement in accordance with
International Standard on Assurance Engagements (ISAE)
3000.
The engagement includes procedures to obtain evidence
on:
• whether the primary financial statements in the
consolidated financial statements that are included in
the ESEF financial statements have been tagged, in all
material respects, with iXBRL tags in accordance with the
requirements of Article 4 of the Commission’s regulatory
technical standard and
• whether the notes and company’s identification data in
the consolidated financial statements that are included
in the ESEF financial statements have been tagged, in all
material respects, with iXBRL tags in accordance with the
requirements of Article 4 of the Commission’s regulatory
technical standard and
• whether there is consistency between the ESEF financial
statements and the audited financial statements.
193
Corporate Governance Statement 2025
Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
The nature, timing and extent of the selected procedures
depend on the auditor’s judgement. This includes an
assessment of the risk of material deviations due to fraud or
error from the requirements of the Commission’s technical
regulatory standard.
We believe that the evidence we have obtained is sufficient
and appropriate to provide a basis for our opinion.
Opinion
Our opinion pursuant to Chapter 7, Section 8 of the Securities
Markets Act is that the primary financial statements, notes
and company’s identification data in the consolidated
financial statements that are included in the ESEF financial
statements of Konecranes Plc 549300EF0CDEQZBMA096-
2025-12-31-fi.zip for the financial year ended 31.12.2025 have
been tagged, in all material respects, in accordance with
the requirements of the Commission’s regulatory technical
standard.
Our opinion on the audit of the consolidated financial
statements of Konecranes Plc for the financial year ended
31.12.2025 has been expressed in our auditor’s report dated
5.2.2026. With this report we do not express an opinion
on the audit of the consolidated financial statements nor
express another assurance conclusion.
Helsinki 26.2.2026
Ernst & Young Oy
Authorized Public Accountant Firm
Toni Halonen
Authorized Public Accountant
194
Corporate Governance Statement 2025
Remuneration Report
Risk Management
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Company information for ESEF reporting
Name of reporting entity or other means of identification Konecranes Oyj
Domicile of entity Finland
Legal form of entity Oyj
Country of incorporation Finland
Address of entity's registered office Koneenkatu 8, 05830 Hyvinkää, Finland
Principal place of business Hyvinkää
Description of nature of entity's operations and principal activities
Name of parent entity Konecranes Oyj
Name of ultimate parent of group Konecranes Oyj
195
Corporate Governance Statement 2025
Remuneration Report
Risk Management
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Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025
Shares and shareholders
Number of shares
and votes
% of shares
and votes
1 Solidium Oy 8,793,123 11.1%
2 Oras Invest Ltd 2,710,000 3.4%
3 Varma Mutual Pension Insurance Company 2,572,201 3.2%
4 Ilmarinen Mutual Pension Insurance Company 2,505,520 3.2%
5 Gustavson Stig and family* 2,366,157 3.0%
6 Elo Mutual Pension Insurance Company 1,224,000 1.5%
7 Nordea Funds 733,020 0.9%
8 The State Pension Fund 730,000 0.9%
9 Samfundet folkhälsan i Svenska Finland rf 615,600 0.8%
10 OP Funds 533,887 0.7%
Ten largest registered shareholders' total ownership 22,783,508 28.8%
Nominee registered shares 40,178,851 50.7%
Other shareholders 16,251,910 20.5%
Shares held by Konecranes Plc 7,637 0.0%
Total 79,221,906 100.0%
Shares
Number of
shareholders
% of
shareholders
Number of
shares
and votes
% of shares
and votes
1−100 30,197 64.2% 1,114,739 1.4%
101−1,000 14,874 31.6% 4,825,797 6.1%
1,001−10,000 1,789 3.8% 4,552,457 5.7%
10,001−100,000 126 0.3% 3,158,643 4.0%
100,001−1,000,000 22 0.0% 5,516,797 7.0%
1,000,001− 7 0.0% 19,874,622 25.1%
Registered shareholders total 47,015 100.0% 39,043,055 49.3%
Nominee registered shares 11 0.0% 40,178,851 50.7%
Total 47,026 100.0% 79,221,906 100.0%
Change in share-
holding in 2025
Number of
shares owned
% of shares and
votes
Board of Directors 3,576 23,950 0.0%
Konecranes Leadership Team 41,553 206,540 0.3%
Total 45,129 230,490 0.3%
% of shares
and votes
Public sector organizations 20.3%
Households 16.0%
Private companies 5.2%
Financial and insurance institutions 3.6%
Non-profit organizations 3.5%
Foreigners 0.6%
Nominee registered shares 50.7%
Total 100.0%
According to the register of Konecranes Plc’s shareholders kept by Euroclear Finland Oy, there
were 47,026 (2024: 45,504) shareholders at the end of 2025.
Largest shareholders according to the share register on December 31, 2025
Shares owned by the members of the Board and of Directors and of the Konecranes
Leadership Team on December 31, 2025
Breakdown of share ownership by number of shares owned on December 31, 2025
Breakdown of share ownership by shareholder category on December 31, 2025
* Konecranes Plc has on December 28, 2011, received information according to which the Chairman of the
company’s Board of Directors Stig Gustavson has donated all of his shares in Konecranes Plc to his near
relatives retaining himself for life the voting rights and right to dividend attached to the donated shares. The
donation encompassed in total 2,069,778 shares.
Source: Euroclear Finland Oy, December 31, 2025.
Important Notice
The information in this document contains forward-looking statements, which are information on Konecranes’ current expectations and
projections relating to its financial condition, results of operations, plans, objectives, future performance and business. All statements other than
statements of historical fact included herein are forward-looking statements including, without limitation, those regarding:
• expectations for general economic development and market situation,
• expectations for general developments in the industry,
• expectations regarding customer industry profitability and investment willingness,
• expectations for company growth, development, and profitability,
• expectations regarding market demand for Konecranes’ products and services,
• expectations regarding the successful completion of acquisitions on a timely basis and Konecranes’ ability to achieve the set targets and synergies,
• expectations regarding competitive conditions and
• expectations regarding cost savings.
These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,”
“expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words
and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and
other important factors beyond Konecranes’ control that could cause Konecranes’ actual results, performance or achievements to be materially
different from the expected results, performance or achievements expressed or implied by such forward-looking statements. Such forward-
looking statements are based on numerous assumptions regarding Konecranes’ present and future business strategies and the environment in
which it will operate in the future.
Information in this document, including but not limited to forward-looking statements, applies only as of the date of this document and is not
intended to give any assurances as to future results.
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Corporate Governance Statement 2025
Remuneration Report
Risk Management
2025 highlights
Report of the Board of Directors
Sustainability statement
Consolidated financial statements (IFRS)
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Financial statements of the parent
company (FAS)
Board of Directors’ proposal to the Annual
General Meeting
Auditor’s report
Shares and shareholders
Corporate Governance
Financial Review 2025