Cargotec in 3Q 2020: orders received and comparable operating profit likely higher vs 2Q 2020

Cargotec in 3Q 2020: orders received and comparable operating profit likely higher vs 2Q 2020

(PRESS RELEASE) HELSINKI, 15-Sep-2020 — /EuropaWire/ — Cargotec (HEL: CGCBV), Finnish cargo-handling machinery maker, has announced its third quarter 2020 is better than expected. The company estimates orders received and comparable operating profit to increase compared to the second quarter 2020.

Cargotec updates its business development estimate published on 17 July 2020 and gives guidance for the third quarter 2020. Cargotec’s business development has continued well during July-August. Cargotec estimates orders received (Q2/2020: EUR 637 million) and comparable operating profit (Q2/2020: EUR 43.4 million) to increase compared to the second quarter 2020.

In its 2020 half year financial report on 17 July 2020, Cargotec estimated that in the current exceptional situation it is not able to give guidance for the year 2020. Cargotec then estimated that during the second half of the year, its business and operating environment would develop as follows:

• The recovery of market activity continues
• The delivery capability of Cargotec and its supply chain continues to improve
• Productivity improvements support profitability in the future as well

Cargotec comments on its last quarter of 2020 outlook in conjunction with the publication of the third quarter 2020 interim report on 22 October 2020.

Media contact:

Mikko Puolakka, Executive Vice President and CFO, tel. +358 20 777 4105
Hanna-Maria Heikkinen, Vice President, Investor Relations, tel. +358 20 777 4084

Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec’s business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimise global cargo flows and create sustainable customer value. Cargotec’s sales in 2019 totalled approximately EUR 3.7 billion and it employs around 12,000 people. www.cargotec.com

SOURCE: Cargotec