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Kadant reports growth in order intake in Wood unit

14.01.2021 − 

Kadant has announced that its Wood Processing Equipment operations reaped the rewards of good ordering in the North American timber industry in the third quarter. The firm said that better capacity utilisation at OSB mills, plywood mills and sawmills culminated in stronger demand for replacement and wear-and-tear parts. Its new plant business had also fared better of late due to its customers’ good profits after the Covid-19 pandemic had intensified caution about investment projects already shown by customers in the 2019 financial year.

A positive trend in its OSB strander, chipper and rotary debarking business only partly erased a downswing in the stock preparation area. Kadant’s overarching Industrial Processing division booked a 20% dive in order intake compared with the third quarter of 2019 to US$59.9m. The division’s revenues slipped by 16% to US$62.1m. Revenues were 18% lower when adjusted for currency and acquisition effects.

The division also faced a downturn in earnings in a year-on-year comparison. Adjusted EBITDA was 4% lower at US$15.7m, with the related margin swelling to 25.4 %. Operating profits fell by 8% to US$12.1m compared to the previous year.

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