Hiab sees orders growth in H1
25 July 2017 by Sotiris KanarisLoad handling equipment manufacturer Hiab, subsidiary of Cargotec, has received orders totaling €567m in the first six months of 2017, a 10% year-on-year increase.
In the first half of 2017 sales stood at €552m, up 4% compared to the same period in 2016.
Operating profit for Hiab was 14% higher year-on-year at €83.6m. Cargotec said Hiab’s profitability was driven by higher volumes as well as new products.
During the second quarter of the year, Hiab launched the semi-automatic folding (SAF) feature for folding and unfolding the crane with a single control level.
As a group, Cargotec saw sales drop by 5% year-on-year to €1,638m. Operating profit excluding restructuring costs was €131.1m, representing 8% of sales.
