Cargotec double-digit growth

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Sales were up 11 per cent (more than €300,000) at Cargotec Corporation in the full year 2019.

The increase was from a figure of €3,304 million in 2018 to €3,683 million in 2019. Sales for the Services segment (parts and refurbishments and so on) were up 8 % to €1,062 million from €980 million.

Operating profit was €180.0 million, or 4.9 % per cent of sales, against 2018’s €190 million or 5.8 %. Net income was €89.4 million, down 17 % from €108 million in 2018.

In the divisions, loader crane manufacturer Hiab increased its operating profit and the figure for orders received was also up. For port crane maker Kalmar operating profit was up but orders were down. Marine crane maker MacGregor made a loss but the acquisition of the TTS Group was completed during the period.

In outlook, Cargotec forecasts that its comparable operating profit in 2020 will be greater than the €264 million of 2019.