Cavotec reports record order backlog as demand for port electrification grows

Cavotec reported a record order backlog and stronger quarterly revenue for the third quarter of 2026, supported by demand for shore power systems, motorised cable reels and automation technologies used across ports, container terminals and industrial operations.

The company’s order backlog reached €160 million at the end of September, an increase of 27.2% year on year, while order intake for the first nine months rose 42.2% to €155.9 million. The growth reflects continued demand for equipment supporting port electrification and industrial automation.

Third-quarter revenue increased 18.9% to €42.6 million, compared with €35.8 million a year earlier. Operating profit (EBIT) improved to €0.8 million from a loss of €0.5 million, with the operating margin reaching 2.0%.

Adjusted EBIT increased to €1.0 million, compared with a loss of €0.2 million in the corresponding quarter of 2025. Operating cash flow also improved to €7.8 million from €2.8 million, although the company recorded a quarterly net loss of €1.6 million.

Port electrification supports order growth

Cavotec attributed much of the quarterly revenue growth to strong demand for shore power equipment and motorised cable reels, particularly in its Ports & Maritime and Industry businesses.

During the third quarter, the company reported an order worth approximately €8 million for shore power systems intended for newbuild containerships operated by a major international shipping company.

It also highlighted an order valued at approximately €5 million to supply its MoorMaster automated mooring system to Jawaharlal Nehru Port in Mumbai, India. Delivery is scheduled for the fourth quarter of 2027, and the project is expected to represent India’s first installation of automated mooring technology.

The company also entered into an exclusive distribution agreement with EVIAS to introduce automatic ground-based charging technology to ports worldwide. The technology is designed to support charging of electric vehicles while stationary or in motion, with potential applications in the electrification of port transport equipment.

These previously announced developments illustrate the markets contributing to Cavotec’s expanding order pipeline, although the company continues to face stronger competition in vessel-based shore power equipment.

According to the group, pricing pressure in this area is negatively affecting margins.

Nine-month losses widen despite higher revenue

For January–September 2026, Cavotec reported revenue of €120.1 million, up 9.0% from €110.2 million in the previous year.

Despite this increase, the company recorded an operating loss of €4.2 million, compared with a loss of €0.5 million during the corresponding period of 2025.

Adjusted EBIT stood at negative €2.9 million, compared with a positive €0.4 million a year earlier, while the net loss widened to €8.9 million from €3.1 million.

Operating cash flow for the nine-month period remained positive at €6.7 million, slightly above the €6.5 million recorded in the previous year.

The results indicate that stronger order intake and revenue growth have not yet translated into sustained profitability across the business.

Cost reductions remain a priority

Cavotec is continuing a restructuring and cost-reduction programme intended to lower its annual cost base by approximately €3 million, with the full effect expected by early 2027.

The programme has delivered a €0.7 million positive impact on earnings during the first nine months of 2026, while restructuring costs have amounted to approximately €1.4 million over the same period.

“Our order backlog is at a record high of EUR 160 million, and revenue increased by nearly 19% during the quarter, driven primarily by strong demand for shore power systems and motorised cable reels,” said David Pagels, Chief Executive Officer of Cavotec.

Pagels acknowledged that the company’s profitability remains below expectations, despite the improvement in quarterly results.

Cavotec also reported progress in working capital management, alongside the implementation of a new group-wide enterprise resource planning system and the digitalisation of parts of its spare-parts sales activities.

The company said order lead times generally range from nine to 18 months in Ports & Maritime and six to nine months in Industry, providing visibility over future deliveries but also reflecting the extended implementation schedules of major equipment projects.

With its order backlog at a new high, Cavotec enters the final quarter of 2026 supported by demand for port electrification and automation technologies, while continuing efforts to restore sustainable profitability.