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Cargotec as an investment

Why invest in Cargotec

Cargotec has refocused its strategy for higher financial performance. Cargotec will focus on  sustainability and growth in profitable core businesses Hiab, Kalmar Mobile Solutions and Kalmar’s horizontal transportation business. Read more.

We are a technology leader with strong market positions in all our business areas. Several megatrends support our businesses, ensuring our future growth potential. Our strategy breakthrough objectives are sustainability and profitable growth.

Frequently asked questions

Here you can find some frequently asked questions about Cargotec as an investment. Questions are divided to categories which can be accessed from the navigation list. In case you have other questions, please contact Investor Relations team.

General information

1. What are Cargotec’s performance targets?

Cargotec announced its re-focused strategy on 30 March 2022. Cargotec's Board of Directors has on 15 November 2022 set the performance targets for Cargotec's core businesses:

  • Eco portfolio sales: double the growth compared to traditional products

  • Reduce CO2 emissions in Cargotec’s value chain1 by 25% by 2025 and by 50% by 2030

  • Sales growth faster than market2

  • Comparable operating profit 12% by 2025 and 15% by 2030

1) Scopes 1, 2 & 3, compared to 2019
2) global GDP, IMF World Economic Outlook, current prices

Cargotec also aims for a growing dividend 30–50% of EPS and to keep gearing below 50%.

Core businesses = Hiab and Kalmar

Read more about Cargotec's financial targets and the development towards the targets here


2. What are Cargotec’s business areas?

Cargotec’s business areas are HiabKalmar and MacGregor. In November 2022, Cargotec announced that it had completed the strategic evaluation of MacGregor. Based on the evaluation, Cargotec’s Board of Directors has concluded that MacGregor will not be part of Cargotec’s portfolio in the future. Cargotec will focus on profitable growth of its core businesses, Hiab and Kalmar.

3. What are Cargotec’s main customer segments?

All business areas serve different customer segments. You can find the main customers by business areas here

4. What is Cargotec’s geographical presence like?

Cargotec operates in more than 100 countries all over the world. In 2022, 50 percent of sales came from EMEA, 36 percent from Americas and 14 percent from APAC.

5. When was Cargotec founded?

Cargotec Corporation was formed in June 2005 when Kone Corporation demerged into two companies to be listed, Cargotec and KONE. However, the history of Cargotec did not start that year but over 100 years ago when Kalmar, one of Cargotec’s three business areas, started its operations.

Read more about Cargotec’s history.

6. How many people does Cargotec employ?

Cargotec employed around 11,500 people at the end of 2022.

7. How much of Cargotec’s net sales is allocated to R&D?

In 2022, R&D expenditure totalled around EUR 100 million, representing 2.4 percent of sales.

Corporate governance

Corporate governance

1. Who are the members of the Board of Directors?

Cargotec Corporation's Annual General Meeting was held on 23 March 2023. The number of the Board members was confirmed at eight. The current Board members Jaakko Eskola, Ilkka Herlin, Teresa Kemppi-Vasama, Johanna Lamminen and Kaisa Olkkonen were re-elected to the Board of Directors. Raija-Leena Hankonen-Nybom, Tapio Kolunsarka and Ritva Sotamaa were elected as new members of the Board of Directors.

2. Who are the members of Cargotec’s Leadership Team?

The list and information about the members of the leadership team can be found in Governance section.

3. What are Board members’ annual remunerations?

Based on the decision of the AGM of 23 March 2023, the Board’s annual remuneration is as follows:

  •  EUR 95,000 will be paid to the Chair of the Board,
  • EUR 70,000 to the Vice Chair, EUR 70,000 to the Chair of the Audit and Risk Management Committee,
  • EUR 55,000 to the other Board members.

In addition, EUR 1,000 will be paid for attendance at board and committee meetings. 30 percent of the yearly remuneration will be paid in Cargotec's class B shares and the rest in cash on a quarterly basis and Cargotec will cover the transfer taxes related to the Board remuneration paid in shares.

In addition, travel expenses of the members of the Board of Directors are reimbursed in accordance with the company's travel policy..

4. How are Cargotec’s Executive Board members remunerated?

The principles of remuneration at Cargotec can be viewed here.

Information about the AGM can be found here.

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