A healthy half for Hiab
24 July 2018 by Sotiris KanarisHiab, the knuckleboom and load handling subsidiary of Cargotec, has received orders totalling €608m in the first six months of 2018, up 7% year-on-year.
In the second quarter of the year, Hiab orders stood at €301m, marking an 8% compared to the €279m recorded in Q2 2017. Cargotec said that from April to June there was an increase in orders from the EMEA region, and highlighted a 26 loader crane order from Australia.
In the first half of 2018 sales grew by 3% compared to the same period in the previous year, reaching €571m.
On the other hand, the manufacturer witnessed a 10% year-on-year drop in operating profit, which stood at €75.5m. In Q2 operating profit dropped from €44m in 2017 to €39.4m in 2018. Commenting on the second quarter figures Hiab said: “Operating profit declined due to the weakening of US dollar compared to the euro as well as investments in sales and service capabilities and digitalisation.”
As a group, Cargotec saw sales drop by 2% year-on-year in H1 to €1,589m, while orders increased by 11% to €1,844m. Operating profit was €74.5m, representing 4.7% of sales.
