Hiab helps drive double digit rises at Cargotec
Finnish materials handling equipment manufacturing group Cargotec posted some strong figures for the first half of 2022. Group sales increased by 14 % to €1,810 (US$ million) from €1,583 million ($ million) in 2021. Hydraulic loader crane manufacturing division Hiab posted increased sales, as did the Kalmar port cranes business.
Finnish materials handling equipment manufacturing group Cargotec posted some strong figures for the first half of 2022.
Group sales increased by 14 % to €1,810 (US$ million) from €1,583 million ($ million) in 2021. Hydraulic loader crane manufacturing division Hiab posted increased sales, as did the Kalmar port cranes business. Service sales were also up, by 12% to €586 million ($ million) from €523 million ($million) a year earlier. Sales decreased in the MacGregor offshore and ship crane and equipment division.
Operating profit for the group was €85 million ($ million), up from €69 million in the first half of 2021. It was 4.7 % of sales as against 4.4 % a year earlier. This figure includes items that affect comparability with earlier periods worth €66 million, the company said. Some related to the cancelled merger with Konecranes and some to the impact on the business of the war in Ukraine.
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