Cavotec's order backlog hits record €160m as shore power demand surges

Cavotec closed September 2026 with a record order backlog of €160 million, a 27.2% jump on the same period last year, driven by accelerating demand for shore power systems and motorised cable reels across ports, shipping and mining. The Swedish-Swiss engineering group's third-quarter revenue climbed 18.9% to €42.6 million, up from €35.8 million in Q3 2025 — roughly the price of a single newbuild tug, arriving every three months.

The commercial engine behind that growth is port and maritime electrification. Order intake for the quarter rose 28.8% to €46.8 million, meaning customers committed more new work in three months than Cavotec billed in the same period.

Which contracts built the backlog?

Three deals, all announced during the quarter, underpin the record order book:

• An approximately €8 million contract to supply shore power systems for newbuild container ships operated by a major international shipping company
• A roughly €5 million deal to deliver MoorMaster automated mooring technology to Jawaharlal Nehru Port in India, with delivery scheduled for Q4 2027
• An exclusive distribution agreement with EVIAS to bring automatic ground-based charging technology to ports worldwide, supporting the electrification of port vehicles

For carriers and terminal operators, the deals signal that shore power and automated mooring are moving from niche sustainability projects into standard procurement — a shift with direct implications for ports planning compliance-driven electrification of berths and yard fleets.

Is profitability keeping pace with sales?

Not yet. Quarterly operating earnings (EBIT) improved to €0.8 million from a loss of €0.5 million a year earlier, and adjusted EBIT reached €1 million against a €0.2 million loss in Q3 2025. Operating cash flow nearly tripled to €7.8 million from €2.8 million. Yet the company still posted a quarterly net loss of €1.6 million, only marginally better than the €1.7 million loss of a year ago.

The nine-month picture is harder. Revenue for the first three quarters of 2026 rose 9% to €120.1 million and order intake surged 42.2% to €155.9 million, but the EBIT loss widened to €4.2 million from €0.5 million, and the net loss deepened to €8.9 million from €3.1 million. Cavotec also flagged increasing competition in shipboard shore power equipment, which is squeezing profit margins even as volumes grow — a warning that more vendors are chasing the same electrification spending.

David Pagels, CEO of Cavotec, said the company was benefiting from stronger demand and a record order backlog, although profitability remained below expectations.

What comes next on costs?

Cavotec is pressing ahead with cost-saving measures targeting roughly €3 million in annual operating cost reductions, with the full effect expected by early 2027. The programme generated about €0.7 million in savings during the first nine months of 2026, while restructuring costs ran at around €1.4 million — meaning the initiative is still costing more than it saves in its early phase.

The company expects its efficiency measures, combined with sustained demand for port electrification and automation, to underpin longer-term financial performance. Shippers, carriers and terminal operators betting on electrified berths and automated mooring will get the next concrete read when Cavotec publishes its fourth-quarter and full-year 2026 results on 19 February 2027 — with the €160 million backlog suggesting revenue visibility, but margin recovery remaining the open question.