Container handling and load handling healthy at Cargotec

Cargotec's finanacial report for the first three quarters of 2015 report that Kalmar and Hiab orders and profitability had developed positively while the  MacGregor market situation remained challenging

In Q3 orders received increased 9% from the same period in 2014 and totalled €907million, the order book grew 1% from the 2014 year-end, and at the end of the reporting period it totalled €2233 million. Sales grew 10% to €928million, operating profit excluding restructuring costs was €68.3million, representing 7.4% of sales. Net income for the period amounted to €43.6million.

For the period January-September 2015 orders received increased 2% and totalled €2733million, sales grew 15% to €2753million. Operating profit excluding restructuring costs was €178.6million, representing 6.5% of sales.

Cargotec's president and chief executive officer, Mika Vehviläinen said, “Market activity in container handling and truck-related load handling solutions continued to be healthy in the third quarter. Our investments in new products and operational development were highlighted in several major orders received during the quarter. Demand was strong in the United States and Europe.

“For MacGregor, the challenging market situation in merchant shipping and offshore continued, resulting in low order volumes. Overall Cargotec's orders and sales developed favourably during the quarter. Profitability continued to improve in Kalmar and Hiab. During the quarter, to improve profitability MacGregor announced new restructuring measures in addition to the already on-going programmes.”