Cargotec has reported a strong second quarter, with orders received by its lifting business arms Kalmar and Hiab 23% higher than in the comparison period of 2017.
Cargotec has proceeded with reshaping its portfolio in 2018 by divesting Kalmar Rough Terrain Center (KRTC) and Siwertell, businesses that the company has deemed as being outside of Kalmar’s core areas.
Although restructuring costs negatively impacted earnings per share, the company’s sales almost met 2017’s level.
Other successes include progress with digitalization and leadership, where Cargotec continued to develop solutions utilising artificial intelligence, as well as advanced analytics to improve eco-efficiency, preventive maintenance and crane balancing.
A key deal highlighted by the company was its joint Navis and Kalmar automation agreement with Sydney, Australia, worth approximately US$ 94 million.
The business development service also improved in the second quarter, with orders received there increasing by 16% compared to 2017.
Timo Lehto, of Kalmar, discusses the importance of open interfaces in terminal automation in a recent Port Technology technical paper
Looking to the future, CEO of Cargotec Mika Vehviläinen commented on the company’s progress with ensuring sustainability: “During the quarter, we took major steps. In May, we announced Kalmar's commitment to reduce emissions in cargo and material handling operations by fostering eco-efficient technologies. According to the commitment, Kalmar's full offering will be available as electrically powered versions by 2021.”
“We believe that our strong investments in eco-efficient technologies will give us a significant competitive advantage in the future, when both our customers and legislation increasingly require low-emission solutions.”