Cavotec Sees Revenue Climb 33% in 1Q

We are pleased to announce a strong start to 2011, with revenue for the Group up 33 per cent to EUR 37.7 million, and operating profit jumping 77 per cent to EUR 2.1 million. The full report is available for download at the following link:

Cavotec – 1st Quarter Report 2011

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Results & Reports

The positive momentum from 2010 continued into the first quarter with increases in sales revenues across all our market units, creating excellent conditions for further growth in the months and years ahead. Our order book now stands at EUR 77.8 million, up 6.3 per cent on 1Q 2010 and 17.2 per cent stronger on FY10.

Our Ports & Maritime unit recorded revenues of EUR 10.1 million, up 23.1% on 1Q10. This performance represents a significant increase in activity for the Group in this sector, and, more broadly, indicates recovery in an industry sector hit harder than most during the financial crisis.

Equally impressive are the figures from our Airports Market Unit, with revenue up 64.3% on 1Q10 to EUR 10.4 million. These figures are primarily the result of continued growth in the Middle and Far East markets, where spending on airport infrastructure remains at consistently high levels.

Our Mining & Tunnelling unit, also registered a strong recovery on the year, with revenue increasing 64.4% to EUR 6.9 million. The strength of this result lies for a large part in the continued growth in the commodities market and the steady resurgence of large OEMs such as Atlas Copco and Sandvik.

The General Industry Market Unit, recorded an increase of 7.8% on the year to EUR 10.3 million. This unit is the most diverse in terms of sectors it serves, and as such reflects general economic sentiment across a wide range of industries. It is especially encouraging therefore to note a robust performance by this Market Unit.