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Cargotec profit falls 61.5pc to US$75.7 million as revenue slips 5.2pc
FINLAND's giant freight handling machinery maker, Cargotec, posted a 61.5 per cent year-on-year net profit decline to EUR55.4 million (US$75.7 million) in 2013, drawn on revenues of EUR3.18 billion, down 5.9 per cent.
"Although much remains to be done, I expect our efforts to bear fruit this year and also to be reflected in the results," said Cargotec president and CEO Mika Vehvilsinen.
It was "disappointing" year with annual operating profits down 30 per cent year on year to EUR92.5 million, said the company statement, despite an eight per cent increase in orders.
In geographical terms, the share of orders received declined to six per cent while Europe, Middle East and Africa took up 40 per cent. Asia-Pacific's share was 33 per cent, down two per cent while Americas orders were up to 27 per cent from 2012's score of 23 per cent because of a major port automation project.
During 2013, the company introduced innovative equipment, including MaGregor's stack splitter with its retractable console and a crane with a glass capsulate to allow 360-degree view.
Kalmar is said to have introduced the world's first real hybrid straddle and shuttle carriers which consume 40 per cent less fuel. The unit also partnered with Italy's Global Service to create a dual-fuel (LNG and diesel) reachstacker under the EU-funded Greencranes initiative.
Hiab introduced four new loader crane models in its biggest launch in years.
"Although much remains to be done, I expect our efforts to bear fruit this year and also to be reflected in the results," said Cargotec president and CEO Mika Vehvilsinen.
It was "disappointing" year with annual operating profits down 30 per cent year on year to EUR92.5 million, said the company statement, despite an eight per cent increase in orders.
In geographical terms, the share of orders received declined to six per cent while Europe, Middle East and Africa took up 40 per cent. Asia-Pacific's share was 33 per cent, down two per cent while Americas orders were up to 27 per cent from 2012's score of 23 per cent because of a major port automation project.
During 2013, the company introduced innovative equipment, including MaGregor's stack splitter with its retractable console and a crane with a glass capsulate to allow 360-degree view.
Kalmar is said to have introduced the world's first real hybrid straddle and shuttle carriers which consume 40 per cent less fuel. The unit also partnered with Italy's Global Service to create a dual-fuel (LNG and diesel) reachstacker under the EU-funded Greencranes initiative.
Hiab introduced four new loader crane models in its biggest launch in years.
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