Cargotec to relocate and retrench

Operating profit margins for 2012 are expected to be approximately 5% excluding non-recurring costs. Sales are still expected to grow from 2011. Earlier guidance was for sales to grow from 2011 and the operating profit margin to be approximately 6%.

According to preliminary results, Cargotec\’s Q3 order intake was EUR 719m, sales EUR 794m and operating profit margin 4.9&t. Cargotec will report its Q3 results on October 25, 2012.
Cargotec has started measures to improve its operating profit and they are expected to result in non-recurring restructuring costs during Q4. The exact amount of the restructuring costs will be specified after the ongoing employee cooperation negotiations have been concluded.

One immediate measure has been the long anticipated announcement that Cargotec plans to centralise its reachstacker and empty container handler production in Europe to its multi-assembly unit Stargard Szczecinski, Poland.