Cavotec reported order intake up 11.3 per cent to €49.4 million ($56.2 million) and revenue up 25.3 per cent to €44.7 million ($50.8 million) for the second quarter of 2026, though profitability was hit by mix effects from a handful of larger shore power projects.
The engineering firm, which supplies connection and electrification equipment for ports and industrial applications, posted an EBIT loss of EUR 2.2 million for the quarter, against a loss of €0.7 million ($797,030) a year earlier.
For the first half of the year, order intake climbed 49.6 per cent to €109.1 million ($124.1 million), while the order backlog rose 24.8 per cent to €155.8 million ($177.3 million).
David Pagels, Chief Executive Officer of Cavotec, said the underlying business remained strong despite the quarter’s results.
He said: “Demand for our products remains strong with good order intake, a record-high order backlog, and increased net sales for the quarter. However, profitability has been negatively affected by mix effects, partially caused by delayed deliveries of a few larger shore power projects with low margins, confident in the margins within the order backlog for the second half of 2026.”
Pagels attributed the margin pressure specifically to shore power projects ordered in 2024 for Southern Europe that were delivered during the quarter at low margins, noting that Cavotec’s project-driven business model, with its long lead times, tends to produce quarter-to-quarter fluctuation.
READ: Cavotec wins €8 million order for newbuild shore power
Several contracts underpinned the quarter’s order intake. Cavotec renewed a two-year service agreement with the Port of Salalah in Oman, covering round-the-clock servicing of 32 MoorMaster vacuum mooring units, extending a relationship that began in 2016.
The company also secured an order worth approximately €1.5 million for shore power equipment supporting the expansion of a cruise terminal in Southern California, with delivery scheduled for the third quarter of 2027.
A separate order valued at €7 million was signed with a global container shipping company to retrofit existing vessels with shore power systems, with deliveries expected during 2026.
After the quarter closed, Cavotec announced a further order worth approximately €8 million to supply shore power systems for newbuild containerships operated by an existing customer, adding more than 350 vessels to the fleet already fitted with Cavotec’s technology.
Shore power systems allow docked ships to draw power from the local electricity grid rather than running onboard engines, cutting emissions and noise while berthed. Pagels described strong demand for the technology across container shipping segments, attributing it to broader trends in electrification, automation and safety across the ports sector.
For more information:
Cavotec – https://www.cavotec.com/
