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Kalmar announces increase in profits and orders in third quarter

Kalmar announces increase in profits and orders in third quarter

Finnish container handling equipment manufacturer Kalmar, part of Cargotec, has announced that its operating profit and orders increased during the third quarter of 2015.

The company reported a 15.64% increase in its operating profit from €30.7m (US$35m) in the period between July and September 2015 to €35.5m (US$40.3m) in the same period last year.

In the first nine months of 2015, the manufacturer made a profit of €92.6m (US$105.1m), a year-on-year 327% increase from €21.7m (US$24.6m), although the comparison period included €51m (US$58m) in project cost overruns.

Orders increased year-on-year by 22% to €463m (US$526m) in the third quarter of 2015, taking the order book to €949m (US$1.08bn) which is 7% up on the same period last year.

Cargotec CEO Mika Vehviläinen said: “Market activity in container handling and truck-related load handling solutions continued to be healthy in the third quarter.”

“Our investments in new products and operational development were highlighted in several major orders received during the quarter,” he added.

Cargotec said in its interim report: “The number of containers handled at ports globally is anticipated to grow in 2015, even if the slowdown in Chinese economy is expected to hamper the growth during the remainder of the year.”

“Nevertheless, demand for container handling equipment is supported by significantly bigger ship sizes than earlier, as well as customers’ replacement investments,” the report continued.