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Kalmar reports high operating profits in 2019

Kalmar reports high operating profits in 2019
Demand for mobile equipment decreased towards the end of 2019

Kalmar’s 2019 order book increased compared to 2018, positively affected by higher demand for port automation solutions, and it achieved record-high operating profits despite a decrease in orders received.

Overall, Kalmar’s orders received decreased by 7% to 1,776 compared to 1,919 in 2018 while the company, which is part of the Cargotec Corporation, increased its order book by 4%.

Cargotec’s CEO Mika Vehvilãinen said: “Customers are now taking concrete steps towards automation investments and consider how and when they could automate their sites.

“Demand of mobile equipment trended downwards at the end of the year. Nevertheless, Kalmar managed to improve its comparable operating profit by 13%.”

Kalmar’s sales increased by 6% to 1,723 from 1,618 and in 2019 it announced several new projects such as fully electric versions of its reachstacker and heavy forklift solutions.

Cargotec, which also owns Hiab and MacGregor, saw a comparable operating profit increase of 9% but, mainly due to restructuring costs in MacGregor, its operating profit decreased by 5%.

The company expects it comparable operating profit for 2020 to improve from 2019’s €264m (US$289m).

Vehvilãinen added: “Due to market uncertainties, our visibility to 2020 is limited, but I think that we have a solid foundation.”