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Why invest in Cargotec
On 27 April 2023, Cargotec's Bopard of Directors decided to investigate and initiate a process to potentially separate its core businesses Kalmar and Hiab into two standalone companies. On 30 May 2024, Cargotec's Annual General Meeting resolved on the partial demerger of Cargotec Corporation in accordance with the demerger plan. On 30 June 2024, the completion of the partial demerger of Cargotec Corporation was registered with the Finnish Trade Register. Read more
Cargotec published a stock exchange release on 8 April 8 2024, presenting its restated financial information for 2023. The background for this is the demerger of the Kalmar business area into an independent listed company (more information here). The information on this page has not been adjusted in accordance with the aforementioned release.
|
MEUR |
2023 |
2022 |
Change |
|
Orders received |
3,987 |
4,862 |
-18 % |
|
Service orders received |
1,331 |
1,286 |
3 % |
|
Order book, end of period |
2,812 |
3,541 |
-21 % |
|
Sales |
4,569 |
4,089 |
12 % |
|
Service sales |
1,379 |
1,264 |
9 % |
|
Service sales, % of sales |
30% |
31 % |
|
|
Eco portfolio sales |
1,515 |
1,288 |
18 % |
|
Eco portfolio sales, % of sales |
33 % |
31 % |
|
|
Operating profit |
483.8 |
106.1 |
> 100% |
|
Operating profit, % |
10.6 % |
2.6 % |
|
|
Comparable operating profit |
513.3 |
316.4 |
62 % |
|
Comparable operating profit, % |
11.2% |
7.7 % |
|
|
Profit before taxes |
453.0 |
79.0 |
> 100% |
|
Cash flow from operations before finance items and taxes |
544.2 |
231.2 |
> 100% |
|
Profit for the period |
348.7 |
23.2 |
> 100% |
|
Basic earnings per share, EUR |
5.38 |
0.37 |
> 100% |
|
Interest-bearing net debt, end of period |
179 |
378 |
-53 % |
|
Gearing, % |
10.2% |
24.8 % |
|
|
Interest-bearing net debt / EBITDA* |
0.3 |
1.2 |
|
|
Return on capital employed (ROCE), last 12 months, % |
19.9 % |
4.6 % |
|
|
Personnel, end of period |
11,391 |
11,526 |
-1 % |
* Last 12 months’ EBITDA
Cargotec changed the definition of the alternative performance measure comparable operating profit starting from 1 January 2023. The restated comparable operating profit will also include the impacts of the purchase price allocation, which amounted to EUR 16 million in 2022. Of these items, EUR 1 million were related to Kalmar, EUR 3 million to Hiab, and EUR 12 million to MacGregor. Additional information regarding the changed definition is presented in the stock exchange release published on 4 April 2023.
Cargotec’s eco portfolio criteria has been revised and the 2022 eco portfolio sales has been restated accordingly.
Cargotec has revised its second quarter 2023 eco portfolio sales. Initially reported EUR 362 million has been revised to EUR 397 million which represented 33 percent of Cargotec's consolidated sales in the second quarter.
