Cavotec Presents Q1 2012 Report

Cavotec SA, makers of vacuum-based mooring system, alternative maritime power (AMP) equipment etc. reports positive Q1 2012 growth

Cavotec say that the ports and maritime sector is at the heart of their business – as it has been for over forty years – with a focus on safety, reliability and the environment .

A summary of their first quarter 2012 financial report is as follows:

•    Revenues increased 23.5% to EUR 46,570 thousands (1Q11: 37,718)
•    Operating result up 43.9% to EUR 3,086 thousands (1Q11: 2,145)
•    Operating margin increased to 6.6% compared to 5.7% in 1Q11
•    Very strong cash generation in the period, net cash flow from operations EUR 4,371 thousands (1Q11: -3,017)
•    Order Intake for the last twelve months rolling reached EUR 218,545 thousands, up 36.2% (1Q11: 160,455)
•    Order Book stood at EUR 100,984 thousands, increase of 29.7% compared to 31 March 2011 (77,830)

A comment from the CEO

1Q12 was a positive quarter for Cavotec with good levels of activity throughout all our Market Units. Ports & Maritime continued to show very strong momentum throughout the quarter, with all MU’s experiencing positive growth compared to 1Q11. Our innovations played a significant role in achieving these results, with our AMP systems booking especially positive results in 1Q12. I’m also pleased to see the very encouraging Order Intake in the quarter for the Airports and Mining & Tunnelling Market Units.
One of our main goals for 2012 is to strengthen the level of profitability compared to 2011. Already in 1Q I can report that we are well on track to achieve this goal.