Cavotec reports record backlog growth

Cavotec has reported strong third-quarter growth, with revenue increasing 18.9% to €42.6 million and order intake rising 28.8% to €46.8 million, as its order backlog reached an all-time high of €160 million.

The engineering group, which specialises in systems for ports, maritime and industrial applications, also recorded improved operating cash flow of €7.8 million, compared with €2.8 million in the same period last year.

EBIT improved to €0.8 million, against a loss of €0.5 million a year earlier, while adjusted EBIT reached €1 million. However, the company reported a net loss of €1.6 million.

For the first nine months of 2026, order intake increased 42.2% to €155.9 million, while revenue grew 9% to €120.1 million. The order backlog rose 27.2% year on year.

Chief executive David Pagels said: “Our order backlog is at a record high of €160 million, and revenue increased by nearly 19% during the quarter, driven primarily by strong demand for shore power systems and motorised cable reels.”

During the quarter, Cavotec secured an order worth approximately €8 million for shore power systems for newbuild container ships, alongside a €5 million contract to deliver India’s first automated mooring system at Jawaharlal Nehru Port in Mumbai.

The company also signed an exclusive distribution agreement with EVIAS to introduce its automatic ground-based charging technology to ports worldwide.

Cost-saving measures have delivered €0.7 million in savings year to date, with an annual run rate of €3 million targeted by early 2027.

Pagels added: “We have a competitive offering, a record-high order backlog, and operate within attractive customer segments driven by electrification and the need for automation.”

Despite improved quarterly performance, management acknowledged that profitability remains below expectations, citing competitive pressure on shore power margins.