Third quarter 2026
January–September 2026
Key events during the third quarter
Key events after the end of the period
Comment from the CEO
Strong demand and record-high order backlog – ongoing cost-saving measures are proceeding according to plan
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. Profitability for the quarter benefitted from the higher volumes; however, we are not satisfied with our result. The cost-saving measures initiated at the beginning of the year continue to progress according to plan and are expected to reduce costs by approximately EUR 3 million, with full effect by early 2027.
Throughout the year, we have seen a positive market development, which is reflected in strong growth in both our order intake and net sales. Both of our segments – Ports & Maritime and Industry – reported good performance in the quarter, driven primarily by demand for shore power systems and motorised cable reels in the port and mining industries. This reflects the strong trend towards electrification and the need for automation to increase efficiency and improve working environments in settings such as ports and container terminals. However, we have seen intensified competition regarding shore power products installed on the vessels, which is impacting margins negatively.
The higher revenue during the quarter had a positive impact on profitability in Ports & Maritime, while Industry, with its normally higher margin, reported somewhat lower profitability in the quarter.
Our profitability is not yet satisfactory, and the organisation is fully focused on completing the implementation of our cost-saving measures. So far this year, we have incurred restructuring costs of approximately EUR 1.4 million, and we will continue these activities during the final quarter of the year, with the goal of reducing our cost base by approximately EUR 3 million, taking full effect by early 2027.
Record-high order backlog
It is very gratifying to note that our order backlog is at an all-time high of EUR 160 million. It is important to understand that our orders typically involve long lead times. Within Ports & Maritime, we generally have lead times ranging from nine to 18 months, and in Industry from six to nine months. Our service business – which consists largely of recurring deliveries of services and products – has a stabilising effect on revenue and continues to show good momentum.
During the quarter, we announced several significant orders. One that I would particularly like to highlight is our first MoorMaster order for India – which also represents the country’s first installation of automated mooring technology. We will supply our MoorMaster system to the Jawaharlal Nehru Port in Mumbai, one of India’s largest container ports. The order is valued at approximately EUR 5 million, with delivery scheduled for the fourth quarter of 2027. This is an important order and a significant reference project, which we naturally hope will pave the way for further orders in India.
Strategic partnership with EVIAS
During the quarter, we entered into an exclusive distribution agreement with EVIAS to introduce their automatic ground-based charging technology to ports worldwide. EVIAS’ technology enables electric vehicles to charge while in motion or standing still, which increases equipment utilisation rates and saves space in busy ports. We will serve as the exclusive distributor and installer of EVIAS’ technology for the global port sector. This collaboration is a response to growing customer demand for the electrification of horizontal transport within ports.
Internal improvement measures
In addition to our focus on cost-saving measures, we are also working intensively on various initiatives to increase internal efficiency. During the autumn, we have, among other things, successfully focused on working capital, which has led to an improved cash flow in the quarter. We have also implemented a new ERP system across the entire Group – a transition that went smoothly thanks to thorough preparation and strong execution by the team. Furthermore, we have made it easier for our customers to place orders with us by digitalising parts of our spare parts sales through a web shop.
Outlook
Through our cost-saving and improvement initiatives, we continue to build a stronger Cavotec. We have a competitive offering, a record-high order backlog, and operate within attractive customer segments driven by electrification and the need for automation. This leaves me confident that we are well-positioned to create long-term value.
David Pagels
Chief Executive Officer
Webcasted presentation and telco
CEO David Pagels and CFO Christoffer Robertsson will present the interim report on Friday 6 November at 10:00 am CET. If you wish to participate via webcast, please use the https://events.inderes.com/cavotec/q3-report-2026. Via the webcast you may submit written questions. If you wish to participate via teleconference, please register on the link https://events.inderes.com/cavotec/q3-report-2026/dial-in. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference. The presentation is in English.
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 year-end and fourth quarter report is published 19 February 2027 at 7:00 am CET.