Orders grew 10% year-on-year to €1.12bn in 2017, while operating profit rose by 13% to €157.1m.
The demand for Hiab’s load handling equipment was supported in the United States and Europe by construction activity, which remained at a good level during 2017. The demand continued to be strong in the US and accelerated in Europe during the second half of the year.
The demand for services improved from last year. Cargotec’s CEO Vehvila¨inen added that Hiab’s new service concepts increased its service sales by 4%.
During the fourth quarter, Hiab launched a new oil tank using cyclone technology which reduces oil usage, weight, need for space and running costs. This patented technology is the first of its kind in the industry and works with most Hiab crane models.
As a group, Cargotec recorded a 7% year-on-year decrease in sales, which stood at €3.28bn in 2017. Net income for the period amounted to €136.3m.
