Cavotec has published its Annual and Sustainability Report 2024, highlighting the company’s financial performance, strategic progress, and sustainability initiatives over the past year.
David Pagels, Cavotec CEO, commented on the company’s progress:
"In 2024, we established a stronger Cavotec with higher profitability and a strengthened financial position. Thanks to the success of our change
Exciting things are on the horizon! Cavotec is set to reveal new products at Bauma Europe 2025, the world’s leading construction machinery trade fair, kicking off on 7 April in Munich, Germany.
While we can’t reveal too much just yet, we invite you to catch a glimpse of what’s coming by watching our teaser video. Stay tuned – you won't want to miss it!
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“We ended 2024 with strong order intake, higher order backlog and improved operating profitability. In 2024, we have established a stronger Cavotec with higher profitability and strengthened financial position. Thanks to the success of our change programs, we have also been able to invest in product development which have further strengthened our competitiveness. With the continued good demand for
Cavotec has signed a multi-million euro order for its MoorMaster™ NxG automated mooring system to be installed at Port of Dublin in Ireland.
Cavotec has deepened its partnership with Qwello by signing an order for 1,000 spring cable reels for electric vehicle charging stations across Europe. The order was signed at the end of 2024.
Cavotec has appointed Jonathan Eriksson as Senior Vice President and Head of Industry Division and Nicklas Vedin as Senior Vice President and Head of Ports & Maritime Division. Patrick Mares, in Group Management since 2019, has been appointed Senior Vice President, Product Management and Chief Technology Officer.
Cavotec has signed a shore power order worth EUR 4 million with a leading global shipping company at the end of 2024. The order is yet another clear sign of the strong need to reduce emissions in marine environments.
Cavotec has signed three significant shore power orders totaling EUR 7 million for Italian ports, received at the end of 2024. These orders highlight the growing adoption of sustainable port technologies in Italy, as ports transition to more environmentally friendly operations.
Cavotec Hong Kong Limited, a wholly-owned subsidiary of Cavotec SA, has signed a Letter of Intent with Shanghai Zhenhua Heavy Industries Company Limited (ZPMC), a major publicly traded state-owned enterprise listed on the Shanghai Stock Exchange and a leader in the global heavy equipment manufacturing sector. This significant agreement, overseen by ZPMC’s principal shareholder, China Communication
“The improved profitability demonstrates that we are on the right track to build a stronger Cavotec. The markets we target are to an increasing extent driven by new regulations in the environmental field and the urgent need to reduce emissions. This, combined with our ability to further enhance our offer, gives us good momentum to continue growing with both new and existing customers.” David Pagel
Cavotec has signed two major orders, totaling EUR 6.5 million, to provide its cutting-edge PowerMove shore power systems to two Mediterranean ports. These systems will support cruise ships and RoRo vessels by enabling them to connect to shore power, significantly reducing emissions and contributing to more sustainable port operations.
Cavotec is pleased to announce the successful commissioning of a MoorMaster automated vacuum mooring system at APM Terminals MedPort Tangier, Morocco. The system shortens the turnaround time of vessels at the terminal, increasing terminal productivity and lowering vessel fuel consumption.
APM Terminals Medport Tangier, part of the Tanger Med Port which ranked fourth in the world’s most efficien
Cavotec is a leading cleantech company that designs and delivers connection and electrification solutions that enable the decarbonisation of ports and industrial applications. Backed by more than 40 years of experience, we provide systems that ensure safe, efficient and sustainable operations for a wide variety of customers and applications worldwide.
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