Cavotec revenue up 23%
By Laura Hatton20 August 2013
Sales of radio remote controls and other crane components helped Cavotec sales rise 23 % in the second quarter of 2013.
Revenue reached €67.4 million (US$90.2 million) in the second quarter of 2013, up 23.2% on 2Q 2012, which was €54.7 m ($73.2 million). Order intake for the company also increased from €50.6 m ($67.7 milion) in 2Q12 to €57.9 m ($77.5 million).
According to the report, the Ports & Maritime market unit (MU) enjoyed a strong quarter, with a €32.3 million ($43.2 million) revenue increase. This was due in large part to the completion of the MoorMaster automated mooring project in the Mediterranean, and the first delivery of MoorMaster units for the St. Lawrence Seaway project announced in 4Q12.
Strong growth was also recorded in the Americas, with revenue for the second quarter up from €10.1 m ($13.5 million) in 2012 to €15.6 m ($20.8 million) in 2013. Europe & Africa also generated strong revenue. For the second quarter of 2013 the region revenue was €54.5 m ($72.9 million) and order intake was €52.9 m ($72.8 milliom). The region benefited from strong demand in the oil and gas market and from the Far East, the company said.