21.07.2010

Order intake up at Hiab /Kalmar

Cargotec Industrial & Terminal – previously Hiab and Kalmar has reported a strong improvement in order intake during the first half of 2010.

Order intake for the first half of the year was 839 million an increase of 24 percent compared to the same period last year, For the second quarter order intake was up 34 percent. The order book at the end of the period was €740 million up from €546 million at the end of 2009.

The value of f order intake was particularly higher for the Hiab business in the Americas. the second quarter was also boosted by a large individual order worth $110 million for rough terrain container handlers.

At the same time invoiced sales fell by 23 percent for the six months to €676 million, in the second quarter sales were 14 percent lower at €362 million.

The company says that at the beginning of the year, sales were burdened by a low order book. In addition, changes required by the EU Machinery Directive curbed crane shipments while transfers of production between plants also disrupted shipments.

The Industrial & Terminal's operating profit for the six months was €100,000 compared to a loss of €700,000 for the first half of 2009.

The company says that first half operating profit was burdened by low volumes and additional costs related to challenges in ramping-up production. However profitability grew towards the end of the first half.

The Cargotec group as a whole which also includes the Marine division, saw revenues for the first half fall by 12 percent to €1.2 billion, while order intake increased by almost 45 percent. The company posted a pre-tax loss of €17.9 million compared to €26.7 million loss last year,

The company estimates that total full year 2010 sales will be roughly the same as 2009 level