• 2019 July 19 15:12

    Cargotec posts financial report for January–June 2019

    Cargotec has announced financial report for January–June 2019.

     Orders received decreased by 11 percent and totalled EUR 872 (981) million. Comparison period included a single order for Kalmar worth around EUR 80 million.
     Order book amounted to EUR 2,072 (31 Dec 2018: 1,995) million at the end of the period.
     Sales increased by 12 percent and totalled EUR 911 (816) million.
     Service sales increased by 5 percent and totalled EUR 259 (247) million.
     Service and software sales represented 33 (34) percent of consolidated sales.
     Operating profit was EUR 53.0 (21.3) million, representing 5.8 (2.6) percent of sales.
     Comparable operating profit increased by 12 percent and amounted to EUR 64.3 (57.2) million, representing 7.1 (7.0) percent of sales.
     Cash flow from operations before financial items and taxes totalled EUR 41.4 (26.5) million.
     Net income for the period amounted to EUR 29.0 (2.3) million.
     Earnings per share was EUR 0.45 (0.03).

    January–June 2019 in brief: Orders received increased
     Orders received increased by 3 percent and totalled EUR 1,894 (1,844) million.
     Sales increased by 11 percent and totalled EUR 1,767 (1,589) million.
     Service sales increased by 5 percent and totalled EUR 508 (484) million.
     Service and software sales represented 33 (34) percent of consolidated sales.
     Operating profit was EUR 104.1 (74.5) million, representing 5.9 (4.7) percent of sales.
     Comparable operating profit increased by 6 percent and amounted to EUR 121.7 (114.7) million, representing 6.9 (7.2) percent of sales.
     Cash flow from operations before financial items and taxes totalled EUR 72.3 (22.8) million.
     Net income for the period amounted to EUR 60.0 (36.0) million.
     Earnings per share was EUR 0.93 (0.55).

    Outlook for 2019
    Cargotec reiterates its outlook published on 8 February 2019 and expects its comparable operating profit for 2019 to improve from 2018 (EUR 242.1 million).

    Cargotec’s key figures
    Cargotec applies the accounting standard IFRS 16, Leases, and the interpretation IFRIC 23, Uncertainty over Income Tax Treatments, starting from 1 January 2019. More information on the standards is available in Note 2, Accounting principles and new accounting standards. Cargotec has also refined the definition of service business for Hiab and MacGregor from the beginning of 2019. The figures related to service business have been restated for the comparison period 2018 accordingly. Cargotec has published a stock exchange release on 4 April 2019 regarding the changes.

    The second quarter of 2019 was two-fold at Cargotec. Result at its biggest business area Kalmar developed strongly and its operating profit grew by 41 percent. Operating profit increased also at Hiab and in the second quarter it was the best ever.

    In terms of orders received, the good development continued at Hiab with orders increasing by 13 percent compared to the comparison period.

    Kalmar’s orders received declined, which was to be expected, as the comparison period’s order intake included an 80 million euro agreement to deliver a state-of-the-art, fully automated terminal solution to Australia. At MacGregor the orders received decreased.

    Cargotec enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimise global cargo flows and create sustainable customer value. Cargotec's sales in 2018 totalled approximately EUR 3.3 billion and it employs around 12,000 people.




2019 December 14

14:31 SK Telecom and SHI successfully verified 5G-powered autonomous and remote control navigation test platform using a test ship
13:19 Mitsubishi Corporation participates in FPSO project in Brazil
11:54 SEA\LNG's study underlines LNG as a compelling investment solution for VLCCs on the Arabian Gulf to China trade route
10:46 GTT Training receives the ‘LNG World Shipping Safety Award 2019’
08:55 Draft strategy for development of Russia’s Arctic through 2035 to be presented to Vladimir Putin by year end

2019 December 13

18:17 New ecological equipment enters berths of Multipurpose Reloading Complex in Ust-Luga
17:22 Total's Mozambique LNG Project gets $400 mln loan from African Development Bank
17:03 Port of Los Angeles and Indonesia Port Corporation sign cooperative agreement
16:33 ABB wins contract to power Genting’s next-generation cruise vessels
16:12 ABB completes delivery for the world's most advanced icebreaking LNG carrier fleet
16:03 Windermere Lake Cruises new vessel launched in Damen Technical Cooperation project
15:33 MacGregor deck handling solution supports China’s Xue Long 2 icebreaker operation
15:12 Polarcus awarded 10-month acquisition program offshore Brazil
14:32 Rotterdam Port Fund invests in Fleet Cleaner
14:11 Subsea 7 awarded contract offshore Norway
13:43 Moín Container Terminal reaches 1 million TEUs
13:31 New container terminal opens in northern Italy
13:05 Aker Solutions to provide subsea production system for phase two of Aker BP's Ærfugl
12:30 Jifmar Offshore Services acquires Delta Marine
12:04 SBM Offshore signs FPSO Sepetiba contracts
11:30 Abu Dhabi Ports announces AED 4Bn expansion projects at Khalifa Port on its 7th Anniversary
11:27 Damen signs contract with Cotecmar for DTC hydrographic research vessel
11:12 WMU and EMSA cooperate on capacity building and research
11:03 SAL Heavy Lift becomes world’s first to equip vessels with new hydrogen / methanol injection technology
10:48 Murmansk Sea Fishing Port handled 245,000 tonnes of cargo in 11M’2019, down 20.7% Y-o-Y
10:34 Overseas Shipholding Group and American Shipping Company jointly announce extension of tanker charters
10:24 WMU President reports to the IMO Assembly
09:59 Kawasaki Heavy Industries launches the world's first liquefied hydrogen carrier
09:43 MABUX: Bunker market this morning, December 13
09:29 Brent Crude futures price is up 0.65% to $64.62, Light Sweet Crude – up 0.52% to $59.49
09:13 Baltic Dry Index is down to 1,388 points

2019 December 12

18:36 EBRD finances Tekirdag port on Turkey’s Sea of Marmara
18:05 Dutch Drone Delta established with Port of Rotterdam Authority support
17:51 Port of Southampton continues infrastructure investment with £3m crane
17:30 Baltic Workboats shipyard delivers 19 WP Oilrec workboat
17:05 The European Federation of Inland Ports welcomes the Green Deal for Europe
16:46 MOL orders 2 next-generation 'EeneX' coal carriers
16:43 Throughput of port Kaliningrad in Jan-Nov’2019 fell by 21% Y-o-Y to 10.20 million tonnes
16:26 Klaipėda LNG terminal welcomed three large and four small LNG vessels in November
16:05 Air quality sensor in the Port of Rotterdam checks sulphur emissions from shipping
15:57 Throughput of port Vyborg in Jan-Nov’2019 fell by 35% Y-o-Y to 1.12 million tonnes
15:34 Alewijnse wins electrical contracts for two additional Combi Freighters at Damen Yichang Shipyard
15:00 Throughput of port Vysotsk in Jan-Nov'2019 climbed by 6% Y-o-Y to 17.90 million tonnes
14:36 Krasnoye Sormovo shipyard launches dry cargo carrier Pola Anastasia of Project RSD59
14:12 CMA CGM announces FAK Reefer Rates from North Europe to Asia and Middle East
13:53 Bunker market sees mixed price movements at the Far East ports of Russia (graph)
13:31 NLNG signs sales deal with Vitol SA
13:12 Austal USA delivers USNS Puerto Rico to U.S. NAVY
12:49 Throughput of port Primorsk in Jan-Nov’2019 grew by 16% Y-o-Y to 56.25 million tonnes
12:24 Lead nuclear-powered icebreaker of Project 22220, Arktika, left for sea trials
12:00 ABS publishes Fuel Cell Guidance to support industry decarbonization objectives
11:38 Port of Ust-Luga handled 95.31 million tonnes in 11M’18, up 6% Y-o-Y
11:13 Throughput of Port St. Petersburg in 11M'2019 grew by 2% to 55.01 million tonnes
11:10 Verifavia Shipping undertakes IHM services for 29 Attica Group vessels
10:56 Wärtsilä to divest its ELAC Nautik business
10:49 Throughput of port Riga (Latvia) in 11M’2019 fell by 9.4% Y-o-Y to 30 million tonnes
10:26 TransContainer dispatched test train from Korea to Poland
10:05 MABUX: Bunker market this morning, Dec 12
09:47 Brent Crude futures price is up 0.41% to $63.98, Light Sweet Crude – up 0.14% to $58.84
09:31 Baltic Dry Index is down to 1,460 points