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24 November 2020 The on-line newspaper devoted to the world of transports 05:02 GMT+1



October 22, 2020

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Cargotec closes the third quarter with a decline in economic and order results

Revenues fell by -13.8% as well as the value of of the new orders

The Finnish cargotec group, which produces lifting equipment handling and that has a fusion project in progress with the compatriot Konecranes ( of the 1st October 2020), closed the third quarter of this year revenues of €776.6 million, down -13.8% in the same period of 2019, of which 364 million (-14.2%) registered by the Kalmar brand that is active in the segment of cranes for the port, intermodal, logistics and industrial sectors, 254 million (-17.3%) from the Hiab brand that makes cranes for the sectors construction, transport and activities industrial industries, and 158 million (-7.1%) by the MacGregor brand, which realizes handling equipment and systems for ships and plants Offshore. Operating profit amounted to 45.8 million (-20.9%), with a contribution of 31.4 million from Kalmar (-33.9%), of 25.9 million from Hiab (-14.5%) and with a sign contribution negative for -0.7 million from MacGregor compared to -9.8 million in third quarter of 2019. In the period July-September of this year Cargotec reported a net profit of €26.6 million (-10,4%).

In the quarter, the group obtained new orders worth of 740 million euros (-13.8%), of which 328 million for Kalmar (-17.2%), 274 million for Hiab (-10.7%) and $139 million for MacGregor (-10,9%). As of September 30th, the value of the order book group amounted to €1.75 billion, down -22.2% on the 30 September 2019, of which 834 million for Kalmar (-23.0%), 386 million for Hiab (-15.7%) and 532 million for MacGregor (-25.3%).

Pointing out that Cargotec has achieved a good result despite the difficulties caused by the Covid-19 pandemic, the Managing Director of the Finnish Group, Mika Vehviläinen, explained that if the market was still weak at the beginning of the third quarter, "however, the recovery in the state of the started after April, however, continued throughout the third quarter.' Vehviläinen pointed out that in the third quarter of this year, new orders are also falling, although -14% on the third quarter of 2019, marked an increase on the previous quarter.


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