Finnish engineering co Cargotec jumps on Q3 beat, outlook hike

Hiab Oyj

23/10/2024 08:46

** Cargotec  CGCBV.HE  rises 9% to 54 euros; among top
gainers on STOXX 600  .STOXX 
    ** Finnish engineering group posts quarterly results above
estimates, raises full year outlook
    ** Orders in Q3 up 14% to 597 mln euros ($644 mln), beating
analysts' estimates of 559 mln euros - LSEG
    ** Co raises outlook for annual comparable operating profit
margin in its Hiab unit to over 14.0% vs more than 13.5% seen
earlier
    ** Sees comparable operating profit in MacGregor, its other
unit, to be above 65 mln euros vs previous outlook of 55 mln
euros
    ** Cites strong ship building cycle, boosting MacGregor, and
stable demand for services in Hiab despite market uncertainty
    ** Stock up 68% TYD

($1 = 0.9272 euros)

 (Reporting by Boleslaw Lasocki)
 ((boleslaw.lasocki@thomsonreuters.com; +48 58 769 66 00;))