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Cargotec as an investment

Why invest in Cargotec

In April 2023 Cargotec's Board of Directors decided to investigate and initiate a process to potentially separate its core businesses Kalmar and Hiab into two standalone companies. Cargotec’s intention would be to separate Kalmar as a new listed company by means of a partial demerger from Cargotec. In February 2024, Cargotec's Board approved a demerger plan concerning the separation of Kalmar into a new listed company. More information.

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?

 

Due to the proposed demerger, as of the first quarter of 2024, Kalmar business area is reported as discontinued operations in Cargotec’s financial reporting. Hence, the combined financial targets set in November 2022 for Kalmar and Hiab are no longer valid. We plan to publish new long term performance targets for Hiab and Kalmar in May 2024.

Cargotec’s climate target to reduce greenhouse gas emissions in all three emission scopes by at least 50 percent by 2030 compared to a 2019 baseline remains valid. The target is validated by the Science Based Targets initiative.

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

For more information about Kalmar reporting as discontinued business, please refer to the 8 April 2024 release, and Note 17, Discontinued operations in the Q1 2024 report.

 

2. What are Cargotec’s business areas?

Cargotec’s business areas are HiabKalmar and MacGregor.

In April 2023, Cargotec announced that its Board of Directors has initiated an investigation to potentially separate Cargotec’s core businesses Kalmar and Hiab into two standalone companies. On 1 February 2024, Cargotec’s Board of Directors approved a demerger plan concerning the separation of Kalmar into a new listed company. The planned completion date of the demerger is 30 June 2024. More information about the demerger.

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 around the world. In 2023, 45 percent of sales came from EMEA, 38 percent from Americas and 17 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 11,400 people at the end of 2023.

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

In 2023, R&D expenditure totalled around EUR 98 million, representing 2.1 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?

More information about remuneration can be viewed here.

Information about the AGM can be found here.

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