Cargotec lowers 2013 forecast

By Alex Dahm15 October 2013

Hiab ST080 loader crane

Hiab ST080 loader crane

Crane and materials handling equipment manufacturer Cargotec said its performance will be lower than forecast for 2013. Sales and operating profit, excluding restructuring costs, are expected to fall short of 2012. Earlier guidance was for sales to be slightly below 2012 and operating profit excluding restructuring costs to be at or slightly below 2012, the manufacturer said.

Sales and operating profit for the second half of 2013 in the MacGregor marine crane division will be lower due to continued slippage in merchant ship deliveries, Cargotec said. In the Kalmar port crane division the third quarter was positive but cost overruns on some ship-to-shore crane projects had a negative effect.

Preliminary results show third quarter order intake at Cargotec of €724 million (US$ 977 million), sales at € 752 million ($ 1.014 billion) and operating profit, excluding restructuring costs, at € 35 million ($ 47 million).

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