Mixed results at Cargotec

By Alex Dahm01 November 2010

Orders received during the third quarter at Cargotec were €683 million, 56% more than the €437 million of the third quarter of 2009.

Third quarter sales grew 14 percent from the comparison period to €635 million from €559 million. Sales were the same level as in the second quarter. Sales for the first nine months of 2010, however, decreased 4% from the same period in 2009 to €1,828 from €1,912 million.

"Our orders received during the third quarter grew 56% from the previous year and we reached 6.7% operating profit margin, which I am satisfied with. Positive development in our market environment continued in all businesses. The activity level in the more slowly recovering Terminal business also developed favourable considering next year. However, the development in the world economy is still characterised by uncertainty. In September, we refined our strategic focus for the coming years while reconfirming our financial targets. In order to strengthen our market leadership in the next few years, we prioritise our actions and resources to the following areas: customers and customer segments, services, emerging markets and internal clarity," said Mikael Mäkinen, Cargotec president and CEO.

In outlook, Cargotec continues to estimate 2010 sales to be at the 2009 level both for the Industrial & Terminal and Marine segments. Operating profit for 2010 is forecast to be in the range of €120 to 130 million, including one-time restructuring costs.

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