Cargotec Sales Figures Plummet
Cargotec Corporation said that the orders received for H1 for the period of January-June 2017 decreased 4 percent and totalled EUR 1.7bln (USD 1.9bln).
The total sales declined 5 percent and totalled EUR 1,638 for the period. However, Cargotec reiterates its outlook published on 8 February 2017 and expects its operating profit excluding restructuring costs for 2017 to improve from 2016 (EUR 250.2 million).
Cargotec's CEO Mika Vehviläinen said: "The development of our business continued to be positive during the second quarter of 2017. The operating profit, excluding restructuring costs, was the highest in Cargotec's history. The business developed particularly well at Hiab, where the orders received increased by 17 percent and profitability improved to a record high level."
"In Kalmar, the orders received declined compared to last year. Nevertheless, the customer interest in port automation solutions continued to be high. Despite the positive development of container throughput, customers are considering their larger investments carefully. Kalmar's operating profit continued to improve. The market situation for MacGregor is still difficult, even though orders received increased compared to the first quarter. We managed to keep MacGregor's operating profit, excluding restructuring costs, positive also during the second quarter," Mika added.
