Cargotec orders grow across the board

News Story
- 1 Nov 2018 ( #896 ) - Helsinki, Finland
2 min read
Mika Vehviläinen
Mika Vehviläinen
Cargotec has ended its third quarter with strong orders, rising 23% to EUR921 million (USD1.041 billion). "Orders received grew in all of our business areas. The development was especially favourable in Kalmar, where the orders received were 38 percent higher than in the comparison period," says Cargotec's CEO Mika Vehviläinen.

"Our development continued to be strong in terms of orders received during the third quarter of 2018. Also, our sales grew in all business areas, supported by the good order intake.

"Cargotec's third quarter operating profit excluding restructuring costs remained at the comparison period's level, despite Hiab's operating profit declining by almost one third," he adds.

The company attributes Hiab's profit decline to the weakening of the US dollar compared to the Euro, product mix, additional costs related to supply chain and to investments in sales and service capabilities and digitalisation.

During the third quarter, Hiab entered into an agreement to acquire the Effer loader cranes business. Founded in 1965, Effer has over 50 years' experience in developing and manufacturing knuckle-boom cranes. "With the acquisition of Effer, Hiab will complement its loader cranes portfolio and expand its range of heavy cranes, in particular in the over 100 T segment, in which Effer is recognised as a global leader," Vehviläinen explains.

Other developments in the last quarter include the appointment of Scott Phillips as president of Hiab and a member of the Cargotec executive board.

Vehviläinen notes that in September, Cargotec announced a refined strategy for 2019-2021. "Together with our business areas, we will continue to work towards our vision (of) 'Becoming the global leader in intelligent cargo handling'. As customer needs change, we will focus even more on the total lifecycle and comprehensive solutions.

"Our strategy will ensure profitable growth by focusing on customer centricity, services, digitalisation and productivity.

"Kalmar, Hiab and MacGregor share Cargotec's must-win battles, while also having their own specific focus areas," he says, confirming that the company is committed to achieving the financial targets announced in 2017.
Jungheinrich records ‘resilient’ results
Jungheinrich records ‘resilient’ results 16 Aug 2024 - Hamburg, Germany - 1 min read
KION narrows revenue forecast
KION narrows revenue forecast 8 Aug 2024 - Frankfurt, Germany - 1 min read
Kalmar makes stock market debut
Kalmar makes stock market debut 4 Jul 2024 - Helsinki, Finland, Finland - 1 min read
Previously about:
Hiab reports USD20 million order from US News Story - 23 Jan 2025 - Jonkoping, Sweden - 1 min read
Moffett forklift Florida dealer named News Story - 19 Dec 2024 - Jacksonville, FL, United States - 1 min read
Hiab unveils EX.232 Hipro News Story - 5 Sep 2024 - Jonkoping, Sweden - 1 min read
Do you have materials handling news? Submit your news here
Inside The News
While innovation and new technology are evolving at what seems to be an ever-increasing pace, the need to capture the data (telemetry) from this tech, and the ability to utilise it (telematics) for efficiency and cost savings, is one area attracting more and more attention ... Continue reading

We’re excited to launch a major upgrade to the Forkliftaction forums, packed with new features and improvements. Here’s what’s new:

  • You can now add up to two photos to your posts
  • New search & navigation - find what you need easier
  • Smart brand/model tagging across all forums
  • Top contributors recognised for their efforts!

 Head over to the forums to check it out!

Words of support …

Undoubtedly, peer experience plays a crucially important role in our industry and it is extremely valuable for us to be part of the platform, where industry professionals, as well as end users can discuss and learn more about the materials handling world.

Alexandra Artemova, Marketing Specialist

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

We’re excited to launch a major upgrade to the Forkliftaction forums, packed with new features and improvements. Here’s what’s new:

  • You can now add up to two photos to your posts
  • New search & navigation - find what you need easier
  • Smart brand/model tagging across all forums
  • Top contributors recognised for their efforts!

 Head over to the forums to check it out!

PREMIUM business

Lift Technologies Inc.
Global leader - manufactures masts, carriages, sideshifters & fork positioners

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

Even the heaviest lifts must be easy to handle. That’s why N.C. Nielsen raises the bar in lifting capacity, maneuverability, operator comfort, flexibility and technical capabilities.
Heavy duty reach stackers – lifting capacity from 85 to 180 tons.
VIEW ALL OUR CUSTOM-BUILT HEAVY DUTY REACH STACKERS

Contact us now: +45 99 83 83 83 - www.nc-nielsen.com