Growth continues in Q2: an overview of our interim report

We recently published our interim results, and in case you missed them, here is a brief overview of how the Group performed in the first of the year.

Cavotec equipment powers machinery at applications worldwide

Cavotec equipment powers machinery at applications worldwide

Overall, the report was positive, with the Group reporting growth in most markets. Revenues increased 21 per cent to more than EUR 101,282 thousands (a record high), and our Order Book was up almost 6 per cent to EUR 100,595 thousands compared to the end of 2011.

You can download a PDF of the full report here.

The period was strong for our Ports & Maritime unit with a large number of projects. Our Alternative Maritime Power systems that supply electrical power for ships in port attracted several good orders in Asia and the US. Our orders from the Port of Oakland and Long Beach were particular highlights.

Our Airports unit registered strong progress throughout the period with orders in mature markets such as Europe and the US, and in emerging markets such as India and the Middle East.

Mining & Tunnelling was strong throughout the first months of the year, with markets in Australia and North America being especially buoyant; while investment in major infrastructure projects lifted demand for the Group’s tunnelling systems.

Our diverse General Industry unit continued its positive performance with encouraging results in the US, where our advanced radio remote control systems continued to develop an impressive profile with customers for performing highly specialised functions in niche sectors such as offshore energy.

If you would like to find out more about Cavotec, take a look at our Investor Relations website, or drop me a line here at any time.

Cavotec’s Interim Report 2010 published

Cavotec is pleased to announce the publication of our Interim Report 2010; a period in which we recorded a 75.3% rise in orders on 1H 2009, to EUR 78.0 million. Our 12-month rolling order intake increased 14.7% on the same period last year.

The first half of 2010 showed a steady resurgence in demand from our customers worldwide, specifically in the airports and mining sectors. Despite the overall low level of investment in the ports sector during the period, we were able to record some promising results for niche systems such as AMP™ and MoorMaster™. The general industry sector is also starting to pick up, specifically in France and Germany, heralding a return to an overall positive economic climate.

Cavotec won several important orders for various airports and ports related projects in the period. For example, our Airports unit has seen a number of new orders at airports in China, India, France, Argentina, and Qatar; and crucially, our first airports project in Africa in coordination with partners in the Middle East.

Work on our project at Bahrain International Airport continues to progress to schedule. In July, the client successfully commissioned the first PCAir units at the Cavotec Fladung facility in Germany. We expect the final commissioning phase to take place as planned, during Spring 2011.

Our Ports & Maritime unit has reported encouraging results with an order for eight MoorMaster™ units for the Port of Dampier in western Australia. Also of note for the period: our cooperation agreement with German engineering group Vahle, to market E-RTG systems. This agreement will expand our capacity to deliver these systems in markets where we previously lacked access.

We also continue to win a large number of small projects for applications dotted all around the world. This positive trend suggests that the global economy, despite recent difficulties in Europe, is in a better position than this time last year. Based on our current expectations, we are confident that we will return to our 2008 level of revenues and profitability.

World Cargo News reports on first half results

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Perhaps you read about our first half results on the blog, or on our website.  If you have yet to do so, you can now read a summary on the World Cargo News site.  It’s always a pleasure seeing respectable industry publications follow our corporate progress.

2009’s Interim report released

As seen in our most recent Interim Report, strong order intake from the third and fourth quarters of 2008 and the first quarter of 2009 gave our Group the stimulus it needed to deliver a respectable Half Year performance to our shareholders. While our financial results are lower than in the corresponding period of 2008, Cavotec has successfully operated within this tough economic environment to maintain an acceptable level of profitability and continue planting seeds for future growth.

From January through June 2009, we recognized EUR 64.1 million of revenue from sales of goods.  And as of 31 July 2009, our order book stands at a EUR 44.2 million and there are many prospects we have been following for months that are beginning to materialize into orders.

For comprehensive figures, read the report in full.