Cavotec reports record backlog growth

Cavotec has reported strong quarterly revenue growth, record orders and improved cash flow despite continuing profitability challenges

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.

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