Hiab profit surges in H1 2016 to €73.5m
25 July 2016 by Sotiris KanarisHiab, subsidiary of Cargotec, has reported operating profit of €73.5m in the first six months of 2016, up from €43.9m in H1 2015.
Hiab’s orders received from January to June 2016 increased by 8% year-on-year to €514m, while the order book shrunk by 5% to €283m. Over the same period, sales grew by 18% to €529m.
“The volume growth and improvements in delivery capability had a positive impact on the result. Additionally, profitability improvement measures and investments in more competitive products contributed to the increased profitability,” Cargotec said.
Research and development
In June, Hiab introduced two new LOGLIFT forestry cranes. Their design focuses on safety, performance, comfort, durability and low lifetime costs. During the same month, Hiab completed its R&D investment in Hudiksvall, Sweden. The new laboratory is part of a €2m investment that was announced in 2014.
In April, Hiab launched HiVisionTM 3D control system, with which crane operations can be controlled from the truck cabin.
During the first quarter, Hiab introduced a hooklift designed for repetitive loads, added two classes to its loader crane family.
