Cargotec has announced its financial results for the first half of 2022, while the company has achieved a record second quarter.
“The second quarter was successful for Cargotec. Our personnel did an excellent job in a challenging operating environment, making our good performance possible. Our orders received, order book and comparable operating profit reached all-time records. Also, our sales grew significantly compared to the comparison period,” noted Cargotec’s CEO Mika Vehviläinen.
During the first six months of the year, the company recorded an all-time high comparable operating profit. Cargotec’s operating profit was US$86.89 million, representing 4.7% of sales.
Regarding the orders received by the company, they increased by 6% and totaled US$2.58 billion, setting a new record. The order book amounted to US$3.68 billion at the end of June, while sales increased by 14% and amounted to US$1.85 billion.
Last but not least, the net income of the Group amounted to US$63.38 million.
Mika Vehviläinen commented, “Our starting position for the latter half of the year is good. Even though market forecasts have been cut during the quarter, our markets are still estimated to grow. Despite the surrounding uncertainty, we enter the second half of the year in a good position with a strong balance sheet and a record order backlog. The supply chain challenges are expected to continue also during the second half of the year. In Cargotec’s business the third quarter is typically less active than the second quarter. We also anticipate the third quarter sales mix to be slightly weaker than in the second quarter.”
Cargotec expects its comparable operating profit for 2022 to improve from 2021, reaching US$237.17 million.
