World leading cargo solutions firm Cargotec saw its orders grow by 15% compared with the same period in 2017 as all areas of its business posted strong results from January to September 2018.
Its sales in the first three quarters increased by 1% compared with 2017, with its service segment increasing by 3%.
However, this couldn’t stop its net income for the first three quarters dropping by 30% compared with the same time period in 2017. Its operating profit also fell by 23%.
Kalmar was its strongest performing business as its operating profit grew by 5%, sales by 4% and orders received by 24%.
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Speaking about the results, Cargotec’s CEO Mika Vehvilaninen commented: “Our development continued to be strong in terms of orders received during the third quarter of 2018.
“Orders received grew in all of our business areas. The development was especially favourable in Kalmar, where the orders received were 38 percent higher than in the comparison period. Also our sales grew in all business areas, supported by the good order intake.
“Cargotec's third quarter operating profit excluding restructuring costs remained at the comparison period's level despite Hiab's operating profit declining by almost one third”.