Independent journal on economy and transport policy
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Significant reduction in new orders to the Cargotec group
Overall, they fell by -24%, with a decrease of -35% in orders for the supply of port equipment and logistics
April 23, 2020
As of March 31, the value of the group's order book amounted to more than EUR 1.9 billion, down -7% March 31, 2019, of which 952 million for Kalmar (-9%), 396 million for Hiab (-3%) and 591 million for MacGregor (-7%).
In the first three months of this year, the group's turnover stable result, having been 858 million euros, with a contribution of 404 million from Kalmar (up 1%), 302 million from Hiab (-5%) and 153 million from MacGregor (up 10%). Group operating profit 26.5 million euros, of which 24.1 million were generated by Kalmar (-23%), 28.4 million from Hiab (-15%) and with sign input negative for -8.1 million from MacGregor (-0.7 million in the first 2019). Cargotec filed the first three months of 2020 11.3 million euros (-63%).
The CEO of the Finnish group, Mika He stressed that the health emergency for the Covid-19 had a strong impact on first-quarter results "At the beginning of the year," he explained, "the pandemic slowed down our business in China as factories faced with a decrease in capacity and with fewer components available. However -- he situation has improved towards the end of the year. Quarter. In January and February, He added, the Market situation in Europe and the Americas, which are our main markets, seemed to be acceptable, but at the end of The state of the markets has largely deteriorated in March. Since then, rising market uncertainty and equities governments to contain the pandemic have slowed down the process customers' decision-making and negatively impacting orders and deliveries.'
"To minimise the effects of the pandemic of coronavirus - added Vehvil-inen illustrating by top leaders of the initiatives that Cargotec has taken to address the crisis - we have taken steps to adjust our cost structure. The employees, or about 6,000 employees, have moved to a four-day work week with a corresponding reduction in wages, according to local regulations. From April 1st, and until further notice and with their consent, the management salaries have been reduced by 20%. We also have reduced - he specified - the use of external services and reduced to minimum travel."
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As of March 31, the value of the group's order book amounted to more than EUR 1.9 billion, down -7% March 31, 2019, of which 952 million for Kalmar (-9%), 396 million for Hiab (-3%) and 591 million for MacGregor (-7%).
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
