Cavotec Reports Solid Q3 Results

Cavotec continued to deliver solid results in Q3, maintaining the positive trend set throughout the first half of the year.

Order Intake for the quarter came to EUR 42.0 million, a 49.3% increase on Q3 2009. Our Order Book now stands at EUR 72.5 million, an increase of 57% on the same period last year.

Our rolling 12-month Order Intake came to EUR 166.4 million, up 32.7% compared to Q3 2009.

Over the course of Q3, our Airports Market Unit continued to book solid results, with several noteworthy projects around the globe. Our Ports & Maritime Market Unit also continued to register interesting orders in Q3, further strengthening our position in this crucial sector.

In the General Industry Market Unit, our newest Centre of Excellence, Cavotec Meyerinck, reported several important deals, including one for 11 loading and unloading arms for a new bio-ethanol plant in Germany. In a highly specialised application, Meyerinck is to deliver a Teflon-lined loading arm fitted with a vapour return line, for Qatar Vinyl in Doha.

Our Mining & Tunnelling Market Unit also registered an uptick in demand, following stronger performance in the sector as a whole and concurrent rise of commodity prices.

Taking all of the above into consideration, and bearing in mind our solid performance, even in tough global economic conditions, we remain confident of further evolving our growth and development, while reaching our previously stated target of a return to 2008 levels of revenue.

You can download the full report from our web site.