Cavotec reported higher order intake and revenue in the second quarter of 2026. However, earnings declined due to the delivery of several low-margin shore power projects.
Order intake increased 11.3% year-on-year to €49.4 million. Revenue rose 25.3% to €44.7 million. EBIT came in at negative €2.2 million, while the company posted a net loss of €3.3 million. Operating cash flow was negative €1.6 million.
In the first half of 2026, order intake jumped 49.6% to €109.1 million. The order backlog reached a record €155.8 million, up 24.8% from a year earlier. Revenue increased 4.2% to €77.5 million. EBIT was negative €5.1 million and the net result was negative €7.3 million.
Cavotec said profitability was affected by delayed deliveries of several large shore power projects with low margins. The company expects margins to improve during the second half of the year. It also continues to implement a €3 million cost-saving programme, with the full benefit expected by early 2027.
Demand for shore power solutions remained strong. During the quarter, Cavotec renewed its two-year service agreement with the Port of Salalah in Oman. It also secured a €1.5 million order for a cruise terminal project in Southern California and a €7 million contract to retrofit vessels with shore power systems for a global container shipping company. After the quarter ended, the company announced another €8 million order for shore power systems for newbuild container ships.
Cavotec said its record order backlog, strong market demand and ongoing cost-saving measures support its long-term growth outlook.
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