‘Financially disappointing’ year for Cargotec

An 8% increased in orders took the total to E3.3bn, but sales fell 4% to E3.2bn. Operating profit was E92.5m, representing 2.9% percent of sales, while cash flow from operations before financial items and taxes totalled E180.9m.

Cargotec’s president and chief executive Mika Vehviläinen said: “Despite our many achievements, 2013 was financially disappointing. During 2013, a great deal of work was done in developing our strengths. Although much remains to be done, I expect our efforts to bear fruit this year and also to be reflected in the results.”

In a forecast for 2014, the group said it expects its sales to grow and that 2014 operating profit, excluding restructurings costs, is expected to improve on 2013.