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Cargotec Release 2015 Financial Results

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Cargotec corporation has released its financial results for 2015, in which total orders totalled more than US$4 billion and its operating profit reached more than $239 million, compared to a more than $142 million amount recorded in 2014.

Cargotec's 2016 sales are expected to be at the 2015 level or slightly below.

Operating profit, excluding restructuring costs for 2016 is expected to improve from 2015.

Mika Vehviläinen, President and CEO of Cargotec, said: “The year 2015 was a milestone for Cargotec with regard to our set targets. Kalmar and Hiab reached the profitability improvement measures initiated two years ago ahead of time by the end of Q2, 2015.

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“MacGregor's market situation is challenging, but we are confident that we are taking the correct measures in order to adapt to the situation in that business area.

“Orders received were strong in the fourth quarter in Kalmar and Hiab, and therefore, orders for the full year of 2015 reached the previous year's level despite clearly lower orders for MacGregor.

“Sales in 2015 grew 11% and the operating profit margin excluding restructuring costs improved to 6.2%.

“We see attractive opportunities in executing our strategy by further investing in growing our businesses, which in our view increases shareholder value best.

Vehviläinen concluded: “We will invest in R&D [research and development] in order to ensure that our products remain market leaders and ahead of our competitors' products.”

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