19.07.2019

Strong quarter for Hiab

Hiab has reported a sharp rise in second quarter and half year revenues as has sister company Kalmar.

Hiab revenues for the six months to the end of June were €674 million, up 18 percent on they same period last year, while operating profits were seven percent higher at €80.7 million. Order intake was 12 percent higher at €681 million, leaving an order book of €453 million exactly the same as this time a year ago.

Second quarter sales were €22 percent higher at €358 million while operating profits increased 20 percent to €47.3 million. Order intake was 13 percent higher at €340 million.

Kalmar revenues improved nine percent to €760 million, with order intake down five percent to €983 million, leaving an order book nine percent higher at €1.18 billion. Operating profit was €65.8 million up 26 percent on this point last year.
Second quarter sales were 10 percent higher at €427 million, on orders of €417 million 24 percent down on the start of the year. Operating profits jumped 41 percent to €34.6 million.

Parent company Cargotec reported total year to date revenues 11 percent higher at €1.77 billion, with a pre-tax profit of €87.7 million up 41 percent on the first half last year.

Chief executive Mika Vehviläinen said: “In terms of orders received, the good development continued at Hiab with orders increasing by 13 percent compared to the comparison period. Kalmar’s orders received declined, which was to be expected, as the comparison period’s order intake included an €80 million agreement to deliver a state of the art, fully automated terminal solution to Australia. At MacGregor the orders received decreased.”

“Our service and software business continued to develop favourably. Service orders received increased by eight percent and service sales increased by five percent. Software sales grew by 42 percent. The sales of our services and software business was close to €1.2 billion during the last 12 months, keeping us well on track in terms of our target to reach €1.5 billion.”