Cargotec performs well – except for MacGregor

News Story
- 20 Feb 2020 ( #962 ) - Helsinki, Finland
1 min read
Vehviläinen
Vehviläinen
Cargotec has released its 2019 full-year financial report, noting that the year was characterised by uncertainty. "Things that caused concern within the industry include items like the US-China trading dispute, Brexit, and the economic and regulatory uncertainty
that impacted the maritime industry, and MacGregor customers in particular," says CEO Mika Vehviläinen.

"Some challenges from 2019 may carry over to 2020. However, I feel we are well prepared for this year. Our strong order book and the expected benefits of the TTS integration, for example, give us solid tools to realise our promises in 2020," he adds.

For the 2019 year, Cargotec reported 8% growth in services revenue, a 15% rise in software sales and strong activity in the automation area.

Kalmar's profit increased by 13% and Hiab's by 27%, but "MacGregor's challenging situation continues". Vehviläinen notes cost overruns in certain offshore projects, low capacity utilisation, and lower sales margins leading to a negative result for MacGregor. "Sluggishness in the MacGregor market has now continued for about six years and has not yet shown any clear signs of recovery. Our streamlining actions in MacGregor will continue in 2020."

On the positive side, Vehviläinen notes the completion of the TTS acquisition which "will ultimately make MacGregor stronger and support its ambition to restore its profitability in the future".

Looking to the group's prospects for 2020, the CEO is predicting a rise in profits, but he is aware that Cargotec needs to be "prepared and agile". "We must prepare scenarios for any changes that the market may put before us during the year. We face this task with confidence and proceed with determination into 2020."
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
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
Briefs News Story - 10 Jul 2025 - 1 min read
Kalmar delivers reach stacker, targets approved News Story - 3 Jul 2025 - Ghent, Belgium - 1 min read
Genma-Kalmar branding to change News Story - 19 Jun 2025 - Nantong, China - 1 min read
Do you have materials handling news? Submit your news here

It’s the year 2000. You’re in front of a boxy beige desktop waiting for the screeching ramblings of your dial-up to reach its finale. You go to Yahoo!, MSN, or maybe AOL, and start the mind-numbing process of finding your very specific needle in the digital haystack. And with web pages loading one image at a time, patience isn’t just a virtue – it’s a requirement!

As clumsy as this early iteration seems now, this technology was the great enabler that allowed Forkliftaction to connect to the industry across the globe.  

To everyone who has connected with Forkliftaction in the past 25 years, thank you for your contribution to our success! We feel deeply touched by your words of encouragement.

What has Forkliftaction meant to you? Drop us a line.

Words of support …

I know I can count on them. They give valuable suggestions on the campaign planning, and to publish content is as easy as abc, as they take care of the material layout and check links. This is a great support.

Annalisa Castellini, Marketing Manager

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

Forkliftaction's JOB MARKET

It’s the year 2000. You’re in front of a boxy beige desktop waiting for the screeching ramblings of your dial-up to reach its finale. You go to Yahoo!, MSN, or maybe AOL, and start the mind-numbing process of finding your very specific needle in the digital haystack. And with web pages loading one image at a time, patience isn’t just a virtue – it’s a requirement!

As clumsy as this early iteration seems now, this technology was the great enabler that allowed Forkliftaction to connect to the industry across the globe.  

To everyone who has connected with Forkliftaction in the past 25 years, thank you for your contribution to our success! We feel deeply touched by your words of encouragement.

What has Forkliftaction meant to you? Drop us a line.

PREMIUM business

MAXAM Tire, Inc.
Simplify your productivity with MAXAM's range of performance material handling tires, designed with the latest EcoPoint3 technology.

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

Forkliftaction's JOB MARKET

PREMIUM business

Shenzhen Wellwit Robotics Co., Ltd
The Largest AMR/AGV ODM/OEM Manufacturer in China.

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

Forkliftaction's JOB MARKET

Since July 2000, Forkliftaction News has been your guide to the developments that are shaping your industry.

Starting today we are also looking back on some of the key news stories from our extensive news archive.

In the news email and on the website, you'll see links to stories that were 'leading our news' multiple years ago, with topics spanning world-first products, big acquisitions, and major industry shifts.
We hope you enjoy this unique insight into the materials handling industry!