22.07.2011

Hiab/Kalmar up 37%

The Industrial & Terminal division of Cargotec, largely Hiab loader cranes and Kalmar port equipment, has reported a 37 percent improvement in first half revenues compared the first half of 2010.

Revenues for the six months were €927 million up 37 percent, while order intake improved 25 percent to €1.05 billion taking the order book to €819 million – 11 percent higher than a year ago. The division achieved an operating profit of €40.8 million compared to a loss at the same point last year of $1.9 million.

Sales in the second quarter increased 34 percent to 485 and order intake by 21 percent to €513 million. Operating income was €22 million compared to €7 million last year.

Order intake increased in all geographic areas, with the strongest pick up in the Asia-Pacific region. The strongest product growth group was for Kalmar rubber-tyred gantry cranes and terminal tractors.

Cargotec as a whole reported half year revenues of grew 31 percent to €1.56 billion, with a pre-tax profit of €96.9 million more almost triple the €36.2 million achieved in the first six months of 2010.

Cargotec chief executive Mikael Mäkinen said: “Second quarter order intake shows that market activity has remained favourable. 25 percent sales growth and improved operating profit margin together with order intake support our view on the full year performance. During the first half, we worked intensively on our refined strategy. Our decision to establish a global competence centre for container terminals development in Singapore is an example of actions we are working on.”

“Understanding future customer needs requires an extensive geographic presence and tight collaboration with customers and other stakeholders worldwide. Recently, we received an important recognition from our customer, when Mitsubishi Industries Shimonoseki shipyard gave Marine Offshore business and our Japanese team the Best Supplier 2010 award”.