Cargotec, the parent company of Kalmar, Hiab and Macgregor, has released a financial statements review for 2018, highlighting an increase in orders across each of the three businesses.
The total number of orders received rose by 18% in 2018, representing US$4.25 billion in revenue for the corporation.
Despite an increase in both orders and sales, the latter of which rose by 2%, Cargotec’s operating profit declined by 6% excluding restructuring costs.
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Lifting solutions provider Kalmar enjoyed the most success of the three companies, achieving a 9% increase in operating profit compared to 2017 as a result of a 23% surge in orders.
Mika Vehviläinen, CEO of Cargotec, commented on the results: “Throughout the year, Kalmar received several orders that benefit from advanced automation technology solutions. We also moved in the right direction with our software and digital solutions.
Cargotec Company Signs China Shipbuilding Agreement #PTIDaily SEE MORE: https://t.co/0LmhL1YrpG@Cargotec #china #shipbuilding pic.twitter.com/ns66yPjg11
— Port Technology (PTI) (@PortTechnology) October 30, 2018
“In line with our strategy, we will continue to invest in the development of digitalisation solutions.
“We believe that the value chain for container handling can be significantly enhanced and we want to help our customers fully exploit these opportunities.”
Cargotec also provided an outlook for 2019, predicting an improvement in comparable operating profit of $273.9 million.
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