Hiab sales down, but stronger order book
8 February 2021Hiab, the knuckleboom and load handling subsidiary of Cargotec, has reported reported sales revenue of €1.15bn for 2020, 19% lower than the year before. The orders received decreased by 8% year-on-year to €1.2bn.
The company had a very strong last quarter in terms of orders, as they increased 30% year-on-year to €417m. “In terms of orders received, Hiab’s fourth quarter was its best ever. Our year-end order book increased compared to the end of the third quarter, which gives us a good start for 2021,” said Cargotec’s CEO Mika Vehviläinen.
In Q4, orders received increased in EMEA, Americas and in Asia-Pacific. Among the most significant orders of the quarter for loader cranes were: a €12.4m and a €9m order from a large distributors and €4m order by a US customer.
Service sales in 2020 stood at €318m, down 7% year-on-year. Operating profit decreased by 39% to €97.3m.
