Cargotec has reported a 51% fall in orders in 2009, as demand for load handling equipment plummeted in the wake of the economic crisis. Orders received totalled €1.828bn, down from €3.769bn in the previous year.

The total order book stood at €2.149bn at the end of the financial period, down 30% on the €3.054bn in the previous year. Sales totalled €2.581bn, down 24% on €3.399bn in 2008.

Operating profit excluding restructuring costs was €61.3m, down from €192.8m, representing 2.4% of sales. But restructuring costs reached €61.1m, meaning operating profit was €0.3m, down from €173.7m in the previous year.

"There were many positives in 2009 despite the difficult market situation," said Mikael Mäkinen, Cargotec president and CEO. “Thanks to successful deliveries of marine cargo handling equipment, we achieved an excellent result in Marine business.

"Our cash flow strengthened throughout the year. In addition, our streamlining of operations and development of our supply set-up progressed as planned. I am satisfied with the €32m underlying operating profit we reached in the fourth quarter and with restructuring costs remaining smaller than anticipated in the same period, our full year operating profit turned positive."

Kalmar sales in 2009 totalled €1.008bn, a 34% decline on €1,515bn in the previous financial period. In the second half of 2009, delivery volumes saw a clear drop due to a low order intake which continued throughout the year. Fourth quarter sales were €213bn, compared to €413m the same period in the previous year.

Orders recieved by business area:

MEUR 1-12/2009 % 1-12/2008 % Change % 10-12/2009 10-12/2008 Change %
Hiab 525 29 818 22 -36 143 157 -9
Kalmar 738 40 1,566 41 -53 162 348 -53
MacGregor 569 31 1,393 41 -59 160 129 24
Internal orders -3   -9     -1 -2  
Total 1,828   3,769   -51 464 633 -27

Sales by business area:

MEUR 1-12/2009 % 1-12/2008 % Change % 10-12/2009 10-12/2008 Change %
Hiab 568 22 907 27 -37 152 216 -29
Kalmar 1,008 39 1,515 44 -34 213 413 -48
MacGregor 1,009 39 985 29 2 305 298 2
Internal orders -4   -8     -1 -3  
Total 2,581   3,399   -24 669 924 -28