29.10.2010

Orders jump at Cargotec

Third quarter order intake is up 40 percent at Cargotec industrial and terminal division, which comprises Hiab loader cranes and Kalmar reach stackers.

Revenues for the quarter were up 15 percent to €379 million while operating income for the period was €16 million compared to a loss of €7.3 million in the same period last year. Order intake for the quarter was up 40 percent for the quarter to €389 million.

Looking at the nine months to the end of September, revenues were down 13 percent to just over €1 billion, while operating profits were €16.2 million compared to a loss of €8.1 million last year. Order intake for the period was up 28 percent to €1.23 billion.

Cargotec as a whole reported revenues of €635 million for the quarter up 13 percent on last year, with pre-tax profits of €35 million compared to a loss of €9.4 million in the same quarter 2009.

Cargotec's chief executive Mikael Mäkinen said: "Our orders received during the third quarter grew 56 percent from the previous year and we reached 6.7 percent operating profit margin, which I am satisfied with. Positive development in our market environment continued in all businesses.”

“In September, we refined our strategic focus for the coming years while reconfirming our financial targets. In order to strengthen our market leadership in the next few years, we prioritised our actions and resources to the following areas: customers and customer segments, services, emerging markets and internal clarity",