Cargotec’s interim report January–September 2020: Performance improved from the second quarter – October 22, 2020 Orders received, sales and comparable operating profit improved from Q2/2020 but remained below the comparison periodCost savings and productivity improvements enhanced profitabilityCargotec expects its comparable operating profit for H2/2020 to increase compared to H1/2020Cargotec and Konecranes announced plans to merge on 1 October. The merger is subject to the obtaining
of merger control approvals, among other items. July–September 2020 in brief: Relative profitability at the comparison period’s level Orders received decreased by 14 percent and totalled EUR 740 (858) million.Order book amounted to EUR 1,751 (31 Dec 2019: 2,089) million at the end of the period.Sales decreased by 14 percent and totalled EUR 777 (901) million.Service sales decreased by 9 percent and totalled EUR 244 (269) million.Service and software sales represented 36 (35) percent of consolidated sales.Operating profit was EUR 46 (58) million, representing 5.9 (6.4) percent of sales. Operating profit includes items affecting comparability worth EUR -11 (-10) million.Comparable operating profit decreased by 17 percent and amounted to EUR 57 (68) million, representing 7.3 (7.6) percent of sales.Cash flow from operations before financial items and taxes totalled EUR 74 (81) million.Net income for the period amounted to EUR 27 (30) million.Earnings per share was EUR 0.41 (0.46). January–September 2020 in brief: Service business remained stable in an exceptional environment Orders received decreased by 22 percent and totalled EUR 2,158 (2,752) million.Sales decreased by 10 percent and totalled EUR 2,391 (2,669) million.Service sales decreased by 4 percent and totalled EUR 743 (777) million.Service and software sales represented 36 (34) percent of consolidated sales.Operating profit was EUR 53 (162) million, representing 2.2 (6.1) percent of sales. Operating profit includes items affecting comparability worth EUR -87 (-28) million.Comparable operating profit decreased by 27 percent and amounted to EUR 140 (190) million, representing 5.8 (7.1) percent of sales.Cash flow from operations before financial items and taxes totalled EUR 101 (153) million.Net income for the period amounted to EUR 1 (90) million.Earnings per share was EUR 0.03 (1.39). Cargotec Oyj is a Finnish company that makes cargo-handling machinery for ships, ports, terminals and local distribution. Source: Cargotec
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