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news c&a Third quarter results round up<br />
Profits fall at Hiab….<br />
Hiab, has reported flat revenues for the<br />
first nine months at €691 million, while<br />
order intake fell by almost 10 percent<br />
to €661 million. Operating profits for<br />
the period, fell by more than 30 percent<br />
to €9.5 million, due to increased material<br />
costs and problems at its component factory in Narva, Estonia<br />
….While Kalmar fares better<br />
Kalmar, also part of Cargotec, saw revenues and order intake improve by<br />
almost 13 percent to €1.1 billion in the same period. Operating profits<br />
dropped seven percent due to €9 million of project cost provisions.<br />
Manitowoc up 28%<br />
Manitowoc Crane revenues for the first nine months, were<br />
$2.94 billion, an increase of almost 28 percent on 2007,<br />
while operating income jumped 34 percent to $441 million.<br />
Third quarter revenues rose 22 percent and operating income<br />
24 percent. The order book grew by 26 percent to $3.3 billion.<br />
The company says that demand for most cranes continues<br />
to be strong, although it has experienced a slowdown in<br />
tower crane sales as the credit situation begins to bite.<br />
Haulotte drops 10%<br />
Haulotte has reported nine month revenues of €376.8 million, 10 percent<br />
down on 2007. The results include a €12.3<br />
million contribution from Bil-Jax, the likefor-like<br />
decline is 13 percent for the nine<br />
months and 16 percent for the quarter.<br />
12 cranes & access November 2008<br />
Tadano up 7.5%<br />
Tadano has posted half yearly revenues of ¥87.8 billion ($909 million), an<br />
increase of 7.5 percent on 2007, while net profits increased 2.7 percent to<br />
¥5.6 billion ($58 million). The company is projecting full year profits will fall<br />
20 percent to ¥9.2 billion($95 million) on flat revenues. Aerial lift and truck<br />
loader sales were down while crane exports to Europe, America and the<br />
Middle East increased significantly.<br />
Kobelco up 12%<br />
Kobelco cranes has reported first half revenues up 12 percent to ¥195.5<br />
billion ($1.98billion), meanwhile operating profits were roughly flat at ¥13.1<br />
billion due to higher material and component costs during the period.<br />
Terex Cranes up 37%<br />
Nine month revenues at Terex Cranes<br />
jumped by 37 percent, to a record $2.16<br />
billion, while operating income rose 73<br />
percent to more than $300 million. The<br />
upward trend continued in the third<br />
quarter, although gross margins slipped<br />
and a $15 million charge for a crane recall<br />
programme was booked.<br />
The order book at the end of September<br />
was $1.9 billion, compared to $1.7 billion<br />
last year, however the non-booked orders,<br />
mostly in North America, now stand at<br />
$648 million.<br />
Terex says that demand remains strong for larger capacity cranes,<br />
particularly larger crawler, tower and rough terrain cranes, while demand<br />
for boom trucks and smaller truck cranes is softer.
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