CAVOTEC SA JULY–SEPTEMBER 2023
- Revenue amounted to
EUR 42.0 million (42.0) - EBIT increased to
EUR 1.7 million (-0.4), corresponding to an EBIT margin of 4.1% (-1.1%) - Net result for the period was
EUR 0.1 million (-3.0) - Operating cash flow improved to
EUR 4.3 million (-4.7) - Earnings per share, basic and diluted, increased to
EUR 0.001 (-0.032)
JANUARY–SEPTEMBER 2023
- Order backlog decreased -11.3% to
EUR 136.5 million (153.9) - Revenue increased 25.9% to
EUR 127.2 million (101.0) - EBIT improved to
EUR 3.2 million (-2.9), corresponding to an EBIT margin of 2.5% (-2.8%) - Net result for the period was
EUR -2.2 million (-6.3) - Operating cash flow amounted to
EUR -3.2 million (-2.6) - Earnings per share, basic and diluted, amounted to
EUR -0.021 (-0.067)
KEY EVENTS DURING THE THIRD QUARTER
- Commissioning of the world’s first ultra-fast 3 MW charging system for battery-powered heavy-duty vehicles, supplied by
Cavotec
KEY EVENTS AFTER THE THIRD QUARTER
- Order valued at
EUR 6.65 million from one of the world’s largest shipping companies for PowerFit, Cavotec’s containerized solutions for high-voltage connection of vessels to shore - Long-term service agreement signed with
COSCO Group
Comment from the CEO
On the right track to build a stronger
We have achieved important progress in the transformation of
In the quarter, revenue amounted to
It is encouraging to see that we for the third consecutive quarter report a positive EBIT. In the quarter, EBIT amounted to
We lay the foundation for value creation
With the transformation of
Comprehensive change programs
Our change programs are comprehensive and cover the entire group. Let me give some examples of what the changes include. As part of the go-to-market priorities, we will establish clear responsibilities for following up on customer projects which will make us more efficient and reduce for example invoicing time. An example of how we improve production and procurement is our new Indian assembly unit that will serve the significant Indian market and gives us the opportunity to use the local supplier base. By having our assembly units close to customers, we save costs while building closer customer relationships. Cost control is also an important component of the transformation and must constantly be present in all our processes and characterize our daily work.
Culture key to success
I am convinced that we can only achieve our strategic priorities if we have a culture characterized by openness and a common desire to reach the same goals, while working as one company. At the same time, innovation – which I give a broader meaning than just developing and creating new products and services – must be present in everything we do. If we are to succeed in our change work, we must all be innovative, dare to question existing routines and be open to new ideas and ways of working.
Megatrends supported by legislation
We have an attractive offer and our markets are driven by strong megatrends. The need to electrify operations and reduce greenhouse gas emissions is growing worldwide. This trend is supported by authorities that all over the world introduce regulations in, for example ports, to reduce emissions and noise pollution. With Cavotec’s solutions, our customers can electrify their operations as well as reduce emissions and noise. In addition, our products and solutions create safer and more attractive workplaces.
Good customer case from
A good example of how we succeed in this is from the port of Kapellskär, north of
On the right track
With the plans and strategic priorities we have, I am confident that we are on the right track to build a stronger
Chief Executive Officer
Webcasted presentation and telco
CEO
Interim reports on cavotec.com
The full report and previous interim and annual reports are available on https://ir.cavotec.com/financial-reports.
Next report
The fourth quarter and year-end report is published
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