Cavotec’s ports and maritime revenue falls

Cavotec’s ports and maritime revenue falls
Ottonel Popesco said the sector's revenues were "broadly flat"

Cavotec’s revenue from its ports and maritime segment has fallen by 9.2% in 2015.

The segment made €115m (US$127m) of revenue in 2014 and €104m (US$115m) in 2015. This reverses a steady rise in the segment’s revenue between 2011 and 2014.

The segment’s revenue from Europe, the Middle East and Africa, its most important region, decreased by 23%. On the other hand, revenue from the Asia-Pacific and Americas regions increased slightly.

Cavotec’s CEO Ottonel Popesco said: “Despite harsh conditions in the offshore segment and the very large MoorMaster project in Canada, ports and maritime revenues for the year remained broadly flat. This pressure on revenues was offset by our ability to introduce new innovative technologies, and a large number of smaller projects throughout the year.”

Figures for the sector’s net profit and costs were unavailable, although the profit (before income tax) of the company as a whole decreased by 21%.

The company’s ports and maritime products include the MoorMaster automated mooring system, an automatic-plug in system, a range of alternative maritime power (AMP) systems, shore power systems and motorised cable reels.

A comprehensive corporate sustainability report also showed that different sectors of the business are dominated by different genders.

Its engineering staff are 91% male and its industrial operations and manufacturing staff are 96% male. On the other hand, its administration and general service staff are 86% female, as are 68% of its finance staff.

In its report, Cavotec said: “Although there are still only a small number of women in executive roles within Cavotec, around 18% of its staff are made up of women in support functions.”