Cargotec has reported increasing sales for the first half of 2014, but operating profit was burdened by a cost overrun in Cargotec’s Kalmar business, which is specialised in container handling equipment.
As a result, operating profit fell to €17.8 million from €46.1 million the year before, now representing 1.1 per cent of sales.
On a more positive note, total Group sales grew three per cent year-over-year to €1.55 billion for the period between January and June 2014, while order volume increased 14 per cent to €1.86 billion.
“Market activity remained brisk, with our orders for the second quarter growing in all business areas,” Cargotec's President and CEO Mika Vehviläinen commented.
“Cargotec's 2014 sales are expected to grow from 2013. Operating profit excluding restructuring costs for 2014 is expected to improve from 2013.”