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Cargotec as an investment

Why invest in Cargotec?

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Cargotec is a technology leader with strong market positions in all business areas, Kalmar, Hiab and MacGregor. We have leading brands in markets with long term growth potential and several megatrends, such as urbanisation and growing middle class, support our businesses.

Our aim is to transform from an equipment provider into a leader in intelligent cargo handling. We will achieve this by focusing on our four strategic must-win battles: customer centricity,  services, digitalisation and productivity.

Technology leader and strong market positions, leading brands in markets with long term growth potential

 

In the port: Kalmar

End markets: Ports, terminals, distribution centers

Market position: 1st / 2nd

Key drivers and supporting megatrends:

  • Global trade growth driven by globalisation and growing middle class
  • Container throughput growth, larger ships require investments in ports, ports need to increase efficiency via automation, increasing importance for safety

Competitive advantage:

  • ​Recognized premium brand
  • Leading market position in software
  • Full automation solution offering (equipment, software and automation, service)
  • Asset light business model

On the road: Hiab

End markets: Construction, distribution, forestry, defence, waste and recycling

Market position: 1st / 2nd

Key drivers and supporting megatrends:

  • Construction growth via population growth and urbanisation
  • Changing distribution patters and models
  • Increasing penetration in developing countries

Competitive advantage:

  • One of the two global players with scale
  • Diversified product range
  • Asset light model, efficient assembly operation

At the sea: MacGregor

End markets: Maritime transportation and offshore industries

Market position: 1st / 2nd

Key drivers and supporting megatrends:

  • Global trade growth driven by globalisation and growing middle class, oil price

Competitive advantage:

  • Asset-light model
  • Technology leader
  • Closeness to customers (shipyards and shipowners) globally
  • Industry competence

2. Our vision is to become the global leader in intelligent cargo handling

Growing services & software business and asset light business model are increasing stability

Asset light business model with a flexible cost structure

  • Kalmar and Hiab: efficient assembly operation
  • MacGregor: efficient project management and engineering office: >90% of manufacturing and 30% of design and engineering capacity outsourced
  • No in-house component manufacturing

 

Next steps to increase service and software sales:

  • Improve service offering through digital service offering
  • Build on Navis position as an industry leader
  • Increase spare parts capture rates
  • Boost service contract attachment rates

Service and software* sales

*Software sales defined as Navis business unit and automation software
Year 2017 figures have been restated according to IFRS 15 and 2013-2017 figures are calculated by using the new definitions for the equipment, service and software businesses announced in March 2018

Capitalizing global opportunities for future automation and software growth

Industry trends support growth in port automation:

  • Only 40 terminals (out of 1,200 terminals) are automated of semi-automated currently globally
  • Ships are becoming bigger and the peak loads have become an issue
  • Increasing focus on safety
  • Customers require decreasing energy usage and zero emission ports
  • Optimum efficiency, space utilisation and reduction of costs are increasingly important
  • Shortage and cost of trained and skilled labour pushes terminals to automation

Automation-cargotec

Significant possibility in port software:

  • Container value chain is very inefficient: total value of waste and inefficiency estimated at ~EUR 17bn
  • Over 50% of port software market is in-house, in long term internal solutions not competitive
  • Navis has a leading position in port ERP

Customers consider their automation decisions carefully:

  • Shipping line consolidation
  • Utilisation rates of the existing equipment base
  • Container throughput volumes
  • Efficiency of the automation solutions

On track for profitability improvement and to reach financial targets

Growth

Target to grow faster than market

  • Megatrends and strong market position supporting organic growth
  • M&A potential

Service and software 

Targeting service and software sales 40% of net sales, minimum EUR 1.5 billion in 3-5 years (Target announced in September 2017)

Balance sheet and dividend

Target gearing < 50% and increasing dividend in the range of 30-50% of EPS, dividend paid twice a year

Profitability

Target 10% operating profit and 15% ROCE in 3-5 years*

Higher service and software sales key driver for profitability improvement

Cost savings actions

2020 EUR 30 million (indirect purchasing and new Business Services operations)

Product re-design and improved project management

Sales and operating profit** development

**Excluding restructuring costs 

***2017 figures have been restated according to IFRS 15.

M&A history

Cargotec strengthens MacGregor by acquiring marine and offshore business from TTS Group (8 February 2018)

MacGregor, part of Cargotec, entered into an agreement to acquire the major businesses from TTS Group, a global provider of cargo handling equipment and services for merchant and offshore ships. The transaction was announced 8 February 2018. After the clearance from the Chinese competition regulator 15 July 2019 (see release link below), MacGregor received all the regulatory approvals needed to be able to complete the transaction. The acquisition was completed 31 July 2019. 

  • 8 February 2018 release: Cargotec strengthens MacGregor by acquiring marine and offshore business from TTS Group
  • 6 November 2018 release: MacGregor receives clearance from the German competition regulator for the acquisition of the marine and offshore business of TTS
  • 27 December 2018 release: MacGregor receives clearance from the South Korean competition regulator for the acquisition of the marine and offshore businesses of TTS
  • 15 July 2019 release: Cargotec’s MacGregor has received clearance from the Chinese competition regulator for the acquisition of the marine and offshore businesses of TTS Group: synergy estimate revised
  • 31 July 2019 release: Cargotec's MacGregor completes the acquisition of the marine and offshore businesses of TTS Group ASA
  • Presentation of the acquisition (8February 2018)

Cargotec’s M&A strategy is focusing on bolt on acquisitions. In Kalmar, the focus is on service footprint expansion and software offering. Hiab is focusing on expanding geographical presence and product offering, whereas MacGregor is looking for M&A opportunities on distressed assets and software as well as intelligent technology.

2011-2018

Company name Announced Closed Transaction value Business area Sales Employees
 Effer  31 July 2018  6 November 2018 EUR 50 million  Hiab  EUR 71 million in 2017 400 
Divestment of Kalmar Rough Terrain Center (KRTC)  3 July 2018  3 July 2018  Not disclosed Kalmar  Not disclosed   -
Siwertell AB 

Siwertell AB, previously owned by Kalmar, will be owned by a joint venture called Bruks Siwertell Group which was established together with JCE Invest AB
 9 May 2018  9 May 2018 Not disclosed  Kalmar  SEK 582 million in 2017   114
Marine and offshore business from TTS Group


Presentation of the acquisition
8 February 2018  31 July 2019 EUR 87 million MacGregor EUR 161 million in January-September 2017  Whole TTS 930
2017      
Inver Port Services 21 December 2017 29 December 2017 Not disclosed Kalmar 5M€ in 2017 23
Rapp Marine Group 21 December 2017 5 February 2018 EV 16M€ MacGregor 40M€ in 2017 120
Argos 1 August 2017 4 October 2017  Not disclosed  Hiab  Under 10M€ in 2016 60 
2016      
INTERSCHALT 20 January 2016 2 March 2016  Not disclosed Kalmar and MacGregor 42M€ in 2014 Over 200 
Flintstone (51% share) 29 September 2016 22 September 2016  Not disclosed  MacGregor  Not disclosed 10 
2014    
Deep Water Solutions  27 February 2014 27 February 2014  Not disclosed  MacGregor Not disclosed
2013
Pusnes   30 October 2013  EV 180M€  MacGregor 130M€ in 2012 370 
Hatlapa Group 16 July 2013 EV 160M€  MacGregor 120M€ in 2013 (estimate) 585 
Mareiport 7 May 2013  Not disclosed  Kalmar 20M€ in 2012  250
2012     
Automation technology and expertise from Asciano 29 June 2012 1 July 2012  Not disclosed  Kalmar  Not disclosed 23 
2011    
Component manufacturing in Estonia (divestment)
30 November 2011  Not disclosed  - Not disclosed 370 
Navis 31 January 2011   140M€  Kalmar ~55M€ in 2011 (estimate) Over 300 

2008-2010

Company name Announced Closed Transaction value Business Area Sales Employees
2010      
Majority share in Kalmar (Malaysia) Sdn.Bhd. 15 December 2010 Early January 2011 Not disclosed  Kalmar Approximately 12 M€ per year  125
Hallberg-Ivarsson Hydraulik & Påbyggnad 15 November 2010 1 January 2011  Not disclosed Hiab   - 2-3 part-time 
Waltco Hydraulics (divestment) 7 January 2010 Not disclosed   -
2009       
Sales and service business in Morocco 11 December 2009 Not disclosed   - 44 
Danish sales and services company 19 August 2009 Not disclosed   -
2008      
80% of CVS Technoports S.r.l. and CVS Service S.r.l. 3 November 2008 Not disclosed   8M€ in 2007 65 
Equipos y Servicios para Terminales y Puertos SRL 11 August 2008 Not disclosed  Kalmar   1M€ in 2007 17 
Zepro Tailgate (1987) Ltd 17 June 2008 Not disclosed   -
Platform Crane Services International Inc  10 April 2008   MacGregor   16 M$ in 2007 105 
South African Bowman Cranes Ltd 1 April 2008  July 2008 Not disclosed  Hiab   -
DEL Equipment (UK) Limited and Ultron Lift Corp. 27 February 2008 March 2008  Not disclosed  Hiab   23M€ in 2007 164 
O’Leary’s Material Handling Services 20 February 2008  Not disclosed Hiab  2.6 M€ in 2007 24 

2007

Company name Announced Closed Transaction value Business area Sales Employees
 Advanced Cargo Transhipment B.V. (ACT) 28 August 2007  August 2007  Not disclosed Kalmar  -  -
Bay Equipment Repairs Inc.  13 August 2007  July 2007 Not disclosed  Hiab   1 M€ in 2006 13 
Balti ES  30 May 2007  June 2007 Not disclosed   -  14 M€ in 2006 600 
Vestnorsk Hydraulikkservice AS (VNH)  14 May 2007  June 2007 Not disclosed   MacGregor 21 
Kalmar Asia Pacific Ltd  23 April 2007  - Not disclosed   - -
Plimsoll Corporation Pte Ltd  28 March 2007  April 2007 Not disclosed   MacGregor 43 M€ in 2006 500 
Hydramarine AS  15 March 2007  April 2007 Not disclosed   MacGregor 63 M€ in 2006 150 
Vietnam Shipbuilding Industry Group  6 March 2007  - Not disclosed   MacGregor -
Indital Construction Machinery Ltd. (Indital)  14 April 2007  April 2007 Not disclosed   All business areas 8 M€ 100 
Port Equipment Service, Inc.  2 February 2007  March 2007 Not disclosed   Kalmar 4 M€ in 2006 56 
BG Crane Pty. Ltd.  30 Januarý 2007  March 2007 Not disclosed   Hiab -
Truck och Maskin i Örnsköldsvik AB  29 January 2007 March 2007  Not disclosed   Kalmar  13 M€ in 2006
Berger  17 January 2007  May 2007 Not disclosed   Hiab 15 M€ 85 
Tagros d.o.o.  15 January 2007  After signing Not disclosed   Kalmar 2 M€ in 2006 35 

2005-2006

Company name Announced Closed Transaction value Business area Sales Employees
2006 
Kalmar España S.A. 18 December 2006 April 2007  Not disclosed Kalmar  11 M€ in 2005  6
Catracom 16 September 2006 November 2006  Not disclosed  Kalmar 70 M€ in 2005 100 
African National Engineering 1 September 2006 After signing  Not disclosed  Kalmar
Grampian Hydraulics 11 August 2006 After signing  Not disclosed  MacGregor  Approx. 4 M€ in 2006 30 
BMH Marine AB 12 June 2006 July 2006  Approx. 32 M€  MacGregor  70 M€ in 2006 (estimate) 140 
East Coast Cranes and Electrical Contracting Inc. 16 March 2006 After signing  Not disclosed  Kalmar  USD 25 million in 2005
AMA 26 January 2006 April 2006  Not disclosed  Hiab  4 M€ in 2005 55 
2005 
Divestment of 42% stake in Consolis
21 September 2005 October 2005  80 M€  -  646 MEUR  5,100
All Set Marine Lashing 8 July 2005 November 2005  Not disclosed  MacGregor  15 M€ in 2004




Announced orders

By choosing the year from left the can find announced orders published as stock exchange or press releases, excluding smaller order releases. You can access the original release via the link in the first column.

 
All releases can be found in here.

 

2019

Orders announced in Q3/2019

Date (and booking quarter) Business area Description Country/ Customer Value
29 August (Q2/19) Kalmar 15 rubber-tyred gantry cranes (RTGs) with 24 months on-site maintenance support India/Nhava Sheva International Container Terminal Not disclosed
20 August (Q3/19) Kalmar Upgrade four ZPMC ship-to-shore (STS) cranes Morocco/EUROGATE Tanger Not disclosed
13 August (Q3/19) Kalmar Preventive and corrective maintenance services to customer's Las Palmas container terminal Spain/Operaciones Portuarias Canarias S.A. (OPCSA) Not disclosed
18 July (Q3/19) Hiab Truck mounted forklifts with service contracts USA/not disclosed MEUR 29

 

Orders announced in Q2/2019

Date (and booking quarter) Business area Description Country/ Customer Value
18 July (Q3/19) Hiab Truck mounted forklifts with service contracts USA/not disclosed MEUR 31
27 June (Q2/19) Kalmar Contract extension to operate internal logistics at a sawmill Sweden/not disclosed Not disclosed
26 June (Q2/19) MacGregor Contract to upgrade the cargo systems on 6 x 16,000 TEU containerships MSC and Guangzhou Wenchong Dockyard Not disclosed
27 May (Q2/19) MacGregor Port equipment and RoPax ferry conversions Scandinavia/not disclosed MEUR 10
13 May (Q2/19) Kalmar Two AutoRTG cranes Ireland/Dublin Ferryport Terminals Not disclosed
30 April (Q2/19) Kalmar 32 diesel-electric straddle carriers Italy/Medcenter Container Terminal (MCT) Not disclosed

 

Orders announced in Q1/2019

Date (and booking quarter) Business area Description Country/ Customer Value
29 April (Q1 19) Kalmar Cooperation agreement including the provision of equipment, operators, maintenance services, Kalmar Insight performance management software. Sweden/Iggesund Paperboard AB, part of the Holmen Group Not disclosed
3 April (Q1/19) Kalmar 12 straddle carriers Australia/Patrick Terminals Not disclosed
28 March (Q1/19) MacGregor Linkspans, cruise access equipment and RoRo solutions Europe and Japan /pure car truck carriers (PCTC)  Ca. MEUR 19
26 March (Q1/19) MacGregor On-vessel mooring systems China/China National Offshore Oil Corporation Not disclosed
8 March (Q1/19) MacGregor Port, cruise access and equipment for roro/passenger (RoPax) ferries Europe, China Ca. MEUR 22
6 March (Q1/19) Kalmar 63 hybrid straddle carriers France, Belgium, UK/DP World Not disclosed
11 February (Q1/19) Kalmar Six zero emission RTGs USA/South Florida Container Terminal, LLC  Not disclosed

2018

Orders announced for Q4/2018

Date (and booking quarter) Business area Description Country/ Customer Value
13 June 2019 (Q4/18) MacGregor Automated mooring solution specified for an autonomous and zero-emission container ship Norway/Kongsberg Maritime Not disclosed
17 January (Q4/18) Kalmar A complete AutoRTG system with eight automated rubber-tyred gantry cranes (AutoRTGs) controlled by the Kalmar Terminal Logistic System (TLS) and new-generation remote control (RC) desks Northern Ireland/Belfast Container Terminal (BCT) Not disclosed
15 January (Q4/18) Kalmar Four rubber-tyred gantry cranes (RTGs) with hybrid drivelines Argentina/Exolgan S.A. Not disclosed
9 January (Q4/18) MacGregor Deck machinery equipment USA/The US navy Not disclosed
3 January (Q4/18) Kalmar Four Kalmar SmartPower rubber-tyred gantry cranes (RTGs) USA/Norfolk Southern Not disclosed 
21 December 2018 (Q4/18) MacGregor Cruise access equipment Three European shipyards Appr. MEUR 22
19 December 2018 (Q4/18) Kalmar Six Gloria reachstackers Chile/Sitrans, part of the Ultramar Group Not disclosed
18 December 2018 (Q4/18) MacGregor Hatch covers South Korea/Hyundai Mipo Dockyard (HMD) Not disclosed
17 December 2018 (Q4/18) Kalmar 41 Kalmar TL2 Terminal Tractors SPT Services Sdn Bhd/Malaysia Not disclosed

Orders announced in Q3/2018

Date (and booking quarter) Business area Description Country/ Customer Value
26 September (Q3/18) Kalmar 12 hybrid straddle carriers, including maintenance and operator training as well as six months of on-site maintenance support DP World Southampton Not disclosed
26 September (Q3/18) MacGregor  Complete hatch cover sets and container fixed fittings for eight 1,800 TEU container ships Hyundai Mipo Dockyard (HMD), in South Korea Not disclosed
7 September Kalmar, Navis Web-based fleet performance solution Bluetracker Zeaborn Ship Management  Not disclosed
6 September (Q3/18) Kalmar Two Kalmar Ship-to-Shore (STS) cranes, including related spare parts Curaçao Port Services B.V. Not disclosed
13 August (Q3/18) Kalmar Three electrically powered rail-mounted gantry cranes (RMGs) with DCT specific customisation Deepwater Container Terminal (DCT) Gdansk Not disclosed
9 August (Q3/18) Kalmar 10 new straddle carriers Hamburger Hafen und Logistik AG (HHLA) Not disclosed

Orders announced in Q2/2018

Date (and booking quarter) Business area Description Country/ Customer Value
19 June (Q2/18) Kalmar Two Kalmar rail-mounted gantry (RMG) cranes with remote control and extensive customisation Rotterdam Short Sea Terminals (RST)  Not disclosed
8 June (Q2/18) Kalmar, Navis State-of-the-art, fully automated intermodal terminal solution. The order includes the supply of the OneTerminal solution comprising Kalmar's automated train handling, automated yard crane and automated horizontal transportation equipment and the Navis N4 terminal operating system (TOS) Qube's Moorebank Logistics Park (MLP) in south-western Sydney Approx. EUR 80 million
4 June (Q2/18) Kalmar Comprehensive upgrade of one of the terminal's ship-to-shore (STS) cranes The Bristol Port Company Not disclosed
24 May (Q2/18) Kalmar Fully autonomous equipment, software and services for a unique, fully digitalised container handling solution at Yara's Porsgrunn facility Yara,Norway Not disclosed
4 April (Q4/17 and Q1/18) MacGregor Upgrading and optimising the container stowage systems on board seven Hapag-Lloyd C-class (Samsung 9,300 TEU series) container vessels. Hapag-Lloyd Not disclosed

Orders announced in Q1/2018

Date (and booking quarter) Business area Description Country/ Customer Value
27 March (Q1/18) Kalmar Total of five electrically powered rubber-tyred gantry cranes (RTGs) with extensive customisation, including also the supply of a spare parts package for the machines Poland Not disclosed
15 March Kalmar, Navis Subscription agreement with Cosco Shipping Ports Ltd. (CSP) for the Navis N4 terminal operating system (TOS) COSCO Shipping Not disclosed
14 March (Q4/17) Kalmar Service agreement to cover maintenance and service of 16 Kalmar straddle carriers at the Port of Helsinki, Finland Finland Not disclosed
13 Feb (Q3/17) Kalmar Full outsourcing contract for maintenance activities at Yilport Holding's three cargo terminals under a Kalmar Care service agreement Sweden Not disclosed

2017

Date (and 
booking 
quarter)
​​Business 
unit
​Description​Country​Value
18 Dec (Q4/17) Kalmar Four automated straddle carriers and an emulation system Germany Not disclosed
11 Dec (Q4/17) Kalmar 12 Classic Straddle Carriers Russia Not disclosed
4 Dec (Q3&Q4/17) MacGregor Orders to optimise the container carrying capabilities of 31 MSC Mediterranean Shipping Company vessels from six different ship series Mediterrenean shipping company Not disclosed
23 Nov (Q3&Q4/17) Kalmar Two rail-mounted gantry cranes (RMGs) for intermodal operation Spain Not disclosed
22 Nov (Q4/17) MacGregor Fabrication, engineering and project management of a complete subsea mooring and riser system Bangladesh-based company Not disclosed
13 Nov (Q4/17) Kalmar Ten Kalmar Rough Terrain Container Handlers (RTCH) North America Approximately EUR 10 million
8 Nov (Q4/17) Kalmar Xvela collaborative stowage solution   Not disclosed
2 Nov (Q4/17) Kalmar Siwertell ST 490-M ship unloader Norway Not disclosed
4 Oct (Q3/17) Kalmar Four Kalmar SmartPower Rubber-Tyred Gantry (RTG) Cranes Thailand Not disclosed
12 Sep 
(Q3/17)
MacGregor Three linkspan facilities France Around EUR 25 million
7 Sep
(Q3/17)
MacGregor Hatch cover and crane contracts for five Chinese bulk carriers China Not disclosed
23 Aug
(Q1/17)
Kalmar 7 reachstackers, 11 loaded and 20 empty container handlers Australia Not disclosed
​20 Jul 
(Q2/17)
​MacGregor ​On-vessel equipment, product fabrication, engineering and project management for a complete mooring and riser system ​   ​Not disclosed
​5 Jul 
(Q2/17)
​MacGregor Oceanographic winches and Triplex deck 
handling systems
​Germany ​Not disclosed
​3 Jul
(Q2/17)
​Hiab ​600 HIAB loader cranes ​India ​Not disclosed
22 Jun 
(Q2/17)​
Kalmar ​Six Kalmar Rubber Tyred Gantry (RTG) cranes ​USA Not disclosed
13 Jun
(Q2/17)​
​Kalmar ​Sixteen hybrid shuttle carriers ​USA ​Approximately 
EUR 13 million
20 Apr (Q1/17) ​Kalmar Kalmar ship-to-shore (STS) cranes ​Netherlands ​​Not disclosed
​29 Mar
(Q1/17)
​Hiab ​69 MULTILIFT hooklifts and 7 HIAB X188 cranes ​Finland ​Around 2.5 million
13 Mar
(Q1/17)​
​Kalmar ​11 diesel electric straddle carriers ​​Not disclosed
17 Feb
(Q4/16)​
​Kalmar ​30 Kalmar Hybrid Shuttle Carriers Morocco​ ​​Not disclosed
9 Feb
(Q1/17)​
​Kalmar ​708 terminal tractors ​Americas ​70 million
20 Jan
(Q4/16)​
​Kalmar ​13 container handlers ​United Arab Emirates ​​Not disclosed

2016

​Date (and booking quarter)​​Business unit​Description​Country​Value
22 Dec (Q4/16) ​Kalmar ​Seven RTG cranes ​Algeria ​Approximately 10 million
​15 Dec (Q3/16) ​Kalmar ​93 terminal tractors ​Malaysia ​5 million
​14 Dec ​MacGregor ​Maintenance agreement of 39 ferries ​Sweden ​​Not disclosed
​14 Nov (Q3/16) ​Kalmar ​23 straddle carriers ​South Africa ​Not disclosed
​13 Oct (Q3/16) ​MacGregor ​Deck machinery ​China ​​Not disclosed
​5 Oct (Q3/16) ​Kalmar ​34 Kalmar Gloria reachstackers ​Europe
​Not disclosed
​13 Sep ​Kalmar ​12 empty container handlers USA
​Not disclosed
​25 Aug (Q1/16) ​Kalmar ​25 forklift trucks ​Algeria
​Not disclosed
​18 Aug ​Kalmar Four diesel-electric straddle carriers, ten heavy-duty terminal tractors for RoRo handling, four light forklift trucks and two heavy forklift trucks ​Finland ​Not disclosed
​11 Aug (Q2/16) ​Kalmar ​Seven top loaders and eight reachstackers ​Americas
​Not disclosed
​11 Jul (Q2/16) MacGregor ​Design and delivery of key components and the fabrication of steel structures for the hatch covers on board five 14,000 TEU container vessels under construction ​Japan ​Not disclosed
​28 Jun (Q4/16) ​Kalmar ​Eight diesel-electric straddle carriers ​New Zealand
​Not disclosed
​21 Jun ​Kalmar ​18 all-electric AGVs ​Singapore
​Not disclosed
​2 Jun (Q4/15 and Q1/16) ​Kalmar ​10 diesel-electric straddle carriers ​Australia
​Not disclosed
​17 May (Q1/16) ​Kalmar ​Heightening three ZPMC ship-to-shore (STS) cranes ​Belgium
​Not disclosed
​4 May ​Kalmar ​Upgrading seven ship-to-shore (STS) cranes ​Malaysia ​More than 20 million
​4 May (Q1/16) ​Kalmar ​Nine Diesel-electric straddle carriers ​Germany
​Not disclosed
​27 Apr (Q1/16) ​MacGregor ​Comprehensive RoRo access equipment packages for four car carriers ​Japan
​Not disclosed
​25 Apr (Q1/16) ​Hiab ​250 Hiab loader cranes ​India
​Not disclosed
​21 Apr (Q1/16) ​Kalmar ​Nine Diesel-electric straddle carriers ​Germany
​Not disclosed
​12 Apr (Q1/16) ​MacGregor Electrically-operated shell doors and electric frequency-controlled Hatlapa winches for four next-generation eco-cruise ships ​Germany and Finland ​Not disclosed
​6 Apr (Q1/16) MacGregor ​Loose lashing orders for twelve container vessels ​Europe
​Not disclosed
​1 Apr (Q1/16) ​MacGregor ​Loose lashing contract to complete the optimized handling solution for five container ships ​South Korea
​Not disclosed
​30 Mar MacGregor ​For each of the two vessels, three K3030-4 mechanical grab cargo cranes with a safe working load of 30 tonnes at 30m outreach, design and key components package for multi folding-type hatch covers (6+6), electrically-driven Hatlapa deck machinery and Porsgrunn steering gear ​Finland
​Not disclosed
​22 Mar (Q2/15) ​Kalmar 37 Kalmar reachstackers and 8 Kalmar empty container handlers ​South Africa
​Not disclosed
​14 Mar (Q4/15) ​Kalmar ​Four Kalmar E-One2 rubber-tyred gantry cranes ​Egypt
​Not disclosed
​9 Mar ​MacGregor ​​Cargo system upgrades for five 14,000 TEU container vessels, including modifications to the lashing system along with lashing bridge enhancement and the provision of Lashmate software ​China
​Not disclosed
​7 Mar Siwertell ST640-M screw-type unloader ​Europe and China ​Not disclosed
​17 Feb ​MacGregor ​Pusnes bow loading and offloading systems ​China
​Not disclosed
​5 Feb ​Siwertell ​Two road-mobile unloaders for cement unloading operations ​Libya and Vietnam
​Not disclosed
​4 Feb (Q3/15) ​Kalmar ​27 straddle carriers ​USA
​Not disclosed
​11 Jan (Q3/15) ​Kalmar ​​60 Kalmar Ottawa T2 off-highway terminal tractors ​USA
Not disclosed

  

2015

​​Date (and booking quarter)Business unit​​​Description​​Country​​​Value
17 Dec​ ​Kalmar ​Fifteen all-electric RTGs ​Greece ​Approximately EUR 20 million
​27 Nov ​MacGregor ​Five sets of Pusnes substructure mooring connection systems including instrumentation for load monitoring. The ballast-stabilised turbine structures will each be equipped with a three-point mooring system employing site-specific anchors ​UK ​Not disclosed
​25 Nov ​Kalmar ​Seven Kalmar rubber-tyred gantry (RTG) cranes and Kalmar service and support ​Morocco ​Not disclosed
​25 Nov ​MacGregor ​Pusnes deck machinery for the following ship types: twelve very large crude carriers (VLCC); four Suezmax tankers; six liquefied petroleum gas (LPG) carriers; one liquefied ethylene gas (LEG) carrier; two long-range 75,000 dwt product tankers and one liquefied natural gas/floating storage regasification unit (LNG/FSRU) carrier. For each deck machinery package MacGregor will be responsible for the design, contract management and the supply of all key components ​South Korea ​Not disclosed
​24 Nov ​MacGregor ​RoRo access equipment packages for a series of two post-Panamax 8,000 lane metre's RoRo carriers. Each package comprise a stern ramp, internal ramps, bulkhead doors and four levels of hoistable electrically-operated car decks ​South Korea Not disclosed
​16 Nov (Q3/15) ​Hiab ​90 HIAB loader cranes and their installation from Coates Hire ​Australia ​​2 million
11 Oct (Q1/15) ​Kalmar ​6 rubber-tyred gantry (RTG) cranes ​Mexico ​Not disclosed
​6 Nov ​Siwertell ​Road-mobile Siwertell 10 000 S ship unloader ​Vladivostok, Russia ​Not disclosed
​2 Nov (Q3/15) ​Siwertell ​ST 940 DOB-type ship unloader ​Taiwan ​Not disclosed
​8 Oct (Q3/15) ​​Kalmar ​23 RTG cranes and 79 terminal tractors ​Colombia ​EUR 45 million
​8 Oct (Q3/15) ​MacGregor ​Anchor handling/towing winch packages for five 48m anchor handling tug supply (AHTS) vessels. Order include a medium-pressure 150-tonne capacity anchor handling/towing winch, a tugger winch, capstan and hydraulic power unit for each of the 48m AHTS vessels, and a 100-tonne capacity anchor handling/towing winch, a tugger winch, capstan and hydraulic power unit for the 40m AHTS vessel ​China ​Not disclosed
7 Oct (Q3/15) ​Hiab ​60 MOFFETT truck-mounted forklifts ​US ​USD 3 million
​7 Oct (Q3/15) ​MacGregor ​Design and delivery of key components and the fabrication of steel structures for the Hatch covers on board six 14,000 TEU container vessels ​Japan ​Not disclosed
​6 Oct (Q3/15) ​MacGregor ​Deck machinery package including a 200-tonne line pull / 300-tonne brake holding anchor handling towing winch, complete with a hydraulic spooling device, as well as Triplex shark jaws and guide pins   ​Not disclosed
​5 Oct (Q3/15) Kalmar ​​Upgrade of eight ship-to-shore cranes (STS) ​​Spain ​Not disclosed
​29 Sep ​Kalmar Eight automatic stacking cranes (ASC) and related automation ​Australia ​Not disclosed
22 Sep ​MacGregor ​Optimised cargo handling systems for five 10,500 TEU container vessels ​Germany ​USD 21 million
​26 Aug ​Hiab ​1,200 HIAB loader cranes India ​Not disclosed

18 Aug (Q4/14
and Q3/15)

​Kalmar ​Two Kalmar DCT80-45E7 empty container handlers, six Kalmar DRT 450 reachstackers and seven Kalmar TT 612d terminal tractors together with ten terminal chassis ​Kazakhstan ​Not disclosed
​17 Aug MacGregor ​Comprehensive RoRo access equipment packages for a series of five post-Panamax 7,800 CEU pure car/truck carriers (PCTCs) ​China ​Not disclosed
​13 Aug (Q2/15) ​Kalmar ​14 Kalmar E-One2 rubber-tyred gantry cranes (RTGs) and six Kalmar forklift trucks ​Colombia ​More than EUR 25 million
​14 Jul (Q2/15) ​​Kalmar ​Seven Kalmar Gloria reachstackers for intermodal handling, three Kalmar TT 618i terminal tractors and one Kalmar DCG 160-12 forklift. All of the machines come with an all-inclusive Kalmar Care maintenance contract and service support provided by Kalmar Austria ​Austria ​Not disclosed
​9 Jul ​​Kalmar ​Automated straddle carrier solution Australia ​Not disclosed
​8 Jul (Q2/15) ​​Kalmar ​Retrofitting both electrically and mechanically two ship-to-shore (STS) cranes ​Egypt ​Approximately EUR 3.5 million
​8 Jul ​MacGregor ​Design and key components for hatch covers; deck cranes, electric deck machinery, steering gear, air compressor ​China ​Not disclosed
​7 Jul MacGregor ​Four 20015-6045 LBC cranes ​Singapore ​Not disclosed
​16 Jun ​MacGregor ​Electrically-driven deck machinery, windlasses and mooring winches ​South Korea ​Not disclosed
​11 Jun ​Kalmar ​Nine all-electric rubber-tyred gantry cranes (ERTGs) ​​Greece ​Not disclosed
​11 Jun ​Kalmar ​​Seven further remote control (RC) desks ​Portugal ​Not disclosed
​9 Jun ​Kalmar Two Kalmar automatic stacking cranes (ASCs) ​USA ​Not disclosed
​22 May ​Kalmar ​​Two new Kalmar automatic stacking cranes (ASCs) ​Australia ​Not disclosed
​21 May (Q1/15) ​Kalmar Heightening of three Kalmar ship-to-shore (STS) cranes ​Belgium ​Not disclosed
​20 May ​Kalmar ​​18 rough terrain container handlers ​USA ​Approximately EUR 16 million (USD 18 million)
​19 May ​Kalmar ​Rail-travelling Siwertell type ST 790-D unloader ​Philippines ​Not disclosed
​4 May Kalmar Upgrading seven ship-to-shore (STS) cranes ​Malaysia ​EUR 20 million
​23 Apr (Q1/15) ​Kalmar ​​11 reachstackers and 16 forklift trucks ​Algeria ​Not disclosed
​22 Apr (Q1/15) ​Kalmar ​Seven Kalmar DCE330-RORO units ​Italy ​Not disclosed
​21 Apr (Q1/15) ​Kalmar Two subsea knuckle boom cranes ​Singapore ​Not disclosed
​21 Apr ​Siwertell ​​Road-mobile unloader ​Kuwait ​Not disclosed
​21 Apr (Q1/15) ​Kalmar 42 Kalmar Ottawa terminal tractors, five Kalmar reachstackers and two Kalmar rubber-tyred gantry cranes (RTGs) to Manila International Container terminal, and 16 Kalmar Ottawa terminal tractors and two Kalmar RTGs ​Philippines ​Not disclosed
​20 Apr (Q1/15) ​MacGregor ​Triplex deck handling equipment and cranes for four customised Havyard 843 anchor handling tug supply vessels (AHTS) ​Brasil ​Not disclosed
​17 Apr (Q1/15) ​MacGregor ​Pusnes bow loading systems for three newbuild shuttle tankers ​South Korea ​Not disclosed
​16 Apr ​Hiab ​60 stiff boom cranes ​China ​Not disclosed
​31 Mar ​Hiab ​MOFFETT truck mounted forklifts ​North America ​Approximately USD 10 million
​30 Mar ​Siwertell ​Road mobile unloader Saudi Arabia ​Not disclosed
​24 Mar ​Siwertell ​Siwertell screw-type ship unloader Korea ​Not disclosed
​23 Mar ​MacGregor ​Two complete deck equipment packages for a pair of 78m anchor handling, supply and oil recovery vessels ​China ​Not disclosed
​16 Mar ​​MacGregor ​Crane and observation gondola ​US ​Not disclosed
​9 Mar ​​MacGregor ​Complete turnkey delivery of RoRo cargo access and handling equipment ​Finland ​Not disclosed
​9 Mar ​Kalmar ​Additional system of 20 automatic stacking cranes ​UK ​Not disclosed
​5 Mar ​​MacGregor ​Eight MacGregor dry bulk cement handling systems ​China ​Not disclosed
​4 Feb ​Kalmar ​512 units of Kalmar Ottawa T2 terminal tractors ​North America ​Not disclosed
​29 Jan (Q4/14) ​Hiab ​Five models of folding loader crane, ranging from versatile 4-ton cranes to powerful 14-ton cranes, together with a service and maintenance package ​UK ​Not disclosed
​28 Jan (Q4/14) ​Siwertell ​Road-mobile unloader ​Turkey ​Not disclosed
​20 Jan (Q4/14) ​Kalmar ​Integrated automation system: control systems of automatic stacking cranes (ASCs) and AutoShuttles, and terminal logistic system (TLS) as well as for the integration of the system components and terminal operating system (TOS) ​Australia Approximately EUR 15 million
​19 Jan (Q4/14) ​​MacGregor ​Cargo and passenger access equipment for two cruise ships France ​Not disclosed
​16 Jan (Q4/14) ​​MacGregor ​Deck equipment packages for two 78m anchor-handling/offshore support vessels. Each package includes a medium pressure anchor windlass/mooring winch, capstans, tugger winches, storage reels, a provisions crane and power packs. From its Hatlapa range, MacGregor will supply each vessel with a 350 tonne line pull/450 tonne brake holding capacity low pressure anchor-handling/towing winch ​China ​Not disclosed

Sales


MEUR 3,304

Operating profit*

MEUR 243.8 - 7.4 percent of sales

Orders received

MEUR 3,756

Employees


11,987

Net sales and operating profit

*Excluding restructuring costs

Sales split

Dividend

* 2017 EPS figure has been restated according to IFRS 15
** Board proposal to AGM

Geographical sales split

Gross profit

Service and software* sales

* Software sales defined as Navis business unit and automation software

Cash flow from operations

Net debt and gearing

2017 figures have been restated according to IFRS 15 and calculated by using the new definitions for the equipment, service and software businesses announced in March 2018

Operating environment

Demand for Cargotec's products and services is based on world trade and cargo handling needs in land and sea transportation. Our primary market drivers include:

  • world trade development and global gross domestic product (GDP)
  • world seaborne trade and ship building
  • global offshore exploration and production spending
  • container traffic and investments in ports and terminals, and
  • construction industry activity and truck registrations in Europe.


Well diversified geographical sales mix

*Figures have been restated according to IFRS 15

 

Container throughput (Driver for Kalmar)

Construction output (Driver for Hiab)

Source: Oxford Economics: Industry output forecast  9/2018

Merchant shipping and offshore markets (Drivers for MacGregor)

Customers and competitors

Cargotec is determined to grow its business through strong customer focus. We offer products, integrated solutions and services designed to meet customers’ specific needs. Our customers include leading global and local players within their industries.


Main customers by business areas

Kalmar

Kalmar image

Ports
Terminals
Distribution centres

Hiab

Hiab image

Transportation companies
Fleet operators
Single truck owners
Rental companies
Truck manufacturers
Municipalities and governments
Defence forces

MacGregor

MacGregor image

Ship owners
Ship and terminal operators
Design offices and ship yards in offshore and merchant sector
Ports and navies

Competitors

​Cargotec is a leading player in all of its business areas. Below you can find a table of the competitors of Cargotec's business areas.

Global main competitors

ZPMC
Konecranes
Liebherr
Hyster-Yale
SANY

Palfinger

TTS
Rolls-Royce
NOV
Kongsberg

Other competitors

ABB
Terberg Benschop
Künz
Mitsui E&S
REV Group: Capacity
RAM Spreaders

Fassi
HMF
Hyva
Terberg Kinglifter

Navalimpianti Group
Mitsubishi Heavy Industries
Huisman
German Lashing
SMS
SEC Bremen
IHI Corporation
Liebherr
Palfinger

  Kalmar Hiab MacGregor

Short term risks and uncertainties

Source: Cargotec’s interim report January–June 2019. The text is updated quarterly.

Developments in the global economy and cargo flows have a direct effect on Cargotec’s business environment and customers’ willingness to invest. A slowdown in global economic growth could reduce the growth in container traffic. Furthermore, the consolidation of ship companies and container terminal operators as well as the relatively low penetration of automation technology could postpone the customers’ investment decisions regarding container handling automation. Project executions may face risks related to schedule, cost and delivery guarantees. Furthermore, potential bottlenecks in the supply chain could postpone deliveries and have a negative impact on sales and results. Also challenges related to the availability of skilled workforce and the company’s ability to retain it could impact operational performance negatively. Uncertainty may be increased by risks stemming from political instability, volatility on the currency and raw material markets, or from the financing sector. In addition, a trade war could have an impact on global flow of goods and therefore on the demand of Cargotec’s solutions. Hiab’s demand is impacted by the development of the construction market. A significant share of Hiab’s orders are from the United States. Even though the cash flows are hedged for the existing order book, the weakening of the US dollar in the longer term could weaken Hiab’s results. Greater difficulty in obtaining financing would weaken customers’ liquidity and investments.

MacGregor's market situation still involves uncertainties. It is anticipated that the oversupply in the merchant ship market will take time to balance out, since capacity will continue to increase while demand is expected to grow very moderately. The tightening emission regulation for ships may limit new investments in the short term. The uncertainty regarding oil price development has led to an intense fall in investments by the oil industry and created oversupply in the offshore market. The concurrent deterioration in both markets has a negative impact on the financial situation of shipyards and ship owners, as well as ship operators. In the challenging market situation, customers may also try to postpone or cancel orders. In some cases, the financial situation of customers may deteriorate significantly or even lead to customer insolvency.

Cargotec is involved in certain legal disputes and trials. The interpretation of international agreements and legislation may weaken the predictability of the end results of legal disputes and trials.

Risks regarding Cargotec’s acquisitions are related to, for example, the knowledge of the local markets, authority processes, customers, corporate culture, integration as well as key employees. 

There are also ethical risks related to the industries and the geographical scope where Cargotec operates in. Cargotec has increased its investments to ensure ethical business practices and the related internal processes are continuously being developed further.

More information on risks is available at Internal control and risk management.

External data providers

The following external organizations provide relevant and useful information about the markets of Cargotec and the business areas. You may access the material below via the links which direct you to the website of each organisation.

Drewry - Information and analyses of shipping industry, e.g. estimates on future global cargo volumes.

Oxford Economics - Leader in global forecasting and quantitative analysis. For instance, analyses of construction industry in different geographical areas.

Clarksons - World’s leading provider of integrated shipping services. Clarksons provides forecasts of e.g. merchant ship and offshore unit numbers.

IHS Markit - Useful analyses of Maritime & trade or automotive industries.

 

R&D investments focus on digitalisation as well as improving competitiveness and cost efficiency of products.

 

Research and product development expenditure in 2018 totalled EUR 89.0 (92.5) million, representing 2.7 (2.8) percent of sales. EUR 0.5 (0.5) million was capitalised.

 

R&D in business areas in 2018

 

Kalmar

Product launches

  • First application key for Kalmar Key, the terminal industry's only automation platform with open interfaces.
  • The first solution to Kalmar's eco-efficient Eco Range product range. Kalmar Eco Reachstacker substantially cuts the fuel consumption and costs, and lowers carbon emissions
  • Kalmar Ottawa Electric Terminal Tractor with a fully electric powertrain produces zero emissions at source
  • FastCharge Automated Guided Vehicle (AGV)  features an eco-efficient electric power system that uses the latest lithium-ion battery technology

 Other actions

  • A new innovation centre opened in Ljungby, southern Sweden, that will focus on the digitalisation and development of mobile cargo handling equipment and related maintenance services
  • Kalmar announced its commitment to reduce emissions in cargo and material handling operations by fostering eco-efficient technologies. According to the commitment, Kalmar's full offering will be available as electrically powered versions by 2021.

 

Hiab

Product launches

  • The portfolio of JONSERED recycling cranes was extended with four renewed and two new models, the 1250RZ and 1500RZ.

  • In services, Hiab rolled out it’s ProCare™ Total Repair & Maintenance (R+M) programme globally. At a fixed monthly price, customers benefit from increased equipment uptime and reduced total cost of ownership, with their equipment value maintained with Hiab original parts.

  • Hiab rolled out its connected service HiConnect™. HiConnect enables businesses to gain real-time insights into their fleet and load-handling equipment utilisation and operation, enhancing uptime, productivity and safety.

  • Hiab launched its renewed HIAB light range loader cranes with a capacity from 4 to 11 metric tonnes.

  • Hiab launched the new MOFFETT M5 NX truck mounted forklift which is especially designed for medium to heavy-duty tasks.

  • The new MULTILIFT COMMANDER container handling unit was also presented to the markets. This application is new for the commercial hooklift market, enabling handling containers safely and efficiently in locations where no infrastructure exists to load or unload containers from the truck. 

Other actions

  • Hiab opened Vision Lab, the latest addition to the Test and Innovation Centre in Hudiksvall, Sweden. The new facility enables testing the latest technologies with imaging, visual and object recognition under different conditions. 

  • Hiab’s production units were awarded new, stricter ISO certifications for quality assurance, sustainability and safety, replacing earlier Hiab-wide ISO certifications. 

  • Hiab continued to expand its spare parts web shop which now covers 46 countries.

  • Hiab launched the MULTILIFT hooklifts for the US market.

  • Hiab opened a new installation and competence centre in Meppel, the Netherlands.



MacGregor

  • Finland–Singapore Maritime innovation camp, held in September in Singapore, sought ways to improve stevedore working conditions. MacGregor was one of the event’s corporate partners together with PSA Corporation.
  • MacGregor introduced a new breakbulk cargo stowage solution, the Breakbulk Optimiser, which enables operators to rapidly and optimally plan the stowage of many different types of cargo, increasing vessel utilisation rates significantly and therefore improving business performance.
  • MacGregor developed a unique new system for improving port and voyage efficiency for RoRo vessels. 

  • MacGregor and China State Shipbuilding Corporation's (CSSC) Nanjing Luzhou Machine Co., Ltd. (LMC) celebrated the opening of their first joint venture in China. 
  • MacGregor and SeaFocus announced a collaboration agreement that will support companies in creating new cooperation models to benefit maritime trade and drive industry innovation.

According to our knowledge the following analysts have regular coverage on Cargotec Corporation. The list may be incomplete. The listed analysts follow Cargotec on their own initiative. Cargotec is not responsible for their views.

You can find the consensus estimates here.  

 ​Company Analyst ​Telephone
​ABG Sundal Collier Karl Bokvist +46 8 566 286 33
​Carnegie ​Tom Skogman +358 9 6187 1234
Credit Suisse Leo Carrington +44 20 7883 4532
Kepler ​Cheuvreux ​Johan Eliason ​+46 8 723 5177
​Danske Markets ​Antti Suttelin ​+358 10 2364 708
​DNB ​Tomi Railo +44 20 7621 6085
​Handelsbanken Timo Heinonen +358 10 444 2483
​Inderes ​Erkki Vesola ​+358 50 549 5512
​Nordea Bank ​Manu Rimpelä +358 9 530 05172
OP Financial Group Kim Gorschelnik +358 10 252 4351
SEB Antti Kansanen +358 9 616 28724
UBS Magnus Kruber +46 8 453 7311

Sustainability is a great business prospect for Cargotec as the inefficiencies in the industry are clear. Only the moving of empty containers cause 19 million CO2 equivalent tonnes annually while some calculations show that the inefficiencies in cargo handling chain cause EUR 17 billion costs to the industry. We see the need for increasing efficiency in the industry as a major business potential, while at the same time it means decreasing emissions. The future growth in our business comes from increasing demands for operational efficiency, the proliferation of lifetime solutions and from increasing cargo volumes.

On the other hand, we need to ensure transparent and fair corporate governance, efficient environmental and health&safety management practices, efficient non-compliance programme and clear supplier management processes to have a license to operate in a more sustainability-driven market.

Increased efficiency for customers with our offering for eco-efficiency

For Cargotec, the willingness to increase more sustainable cargo flow is not only a sentence. We have created a product group which demonstrates the solutions which can benefit customers’ operational, emissions or resource efficiency. In environmental industries, our products and solutions can enhance the industry efficiency. Increased growth in offering for eco-efficiency is driven by R&D and digitalisation investments.

Customers benefit from using our products and solutions as they enable

  • decreased fuel consumption,
  • reduced emissions,
  • improved competitiveness with heightened operational efficiency,
  • fewer container moves in cargo handling and minimised environmental impact per moved container.

Cargotec’s eco-efficiency product group sales during 2018 was about 21 (2017: 18) percent of the  total sales.

  • Visibility to identify inefficient use of resources and fuel
  • Software and design system

  • Offering to support the operations in environmental industries
  • Cargotec solutions for environmental industries

  • Technology to enable fuel and emission efficient offering
  • Products with features to decrease fuel usage and avoidance of maritime hydraulic oil emissions

  • Service enabling the extended usage of products or new applications
  • Product conversions and modernizations

Safety, supply chain management and high ethical standards

Three most important areas to manage in our own operations during 2018 are safety, supply chain management and increased usage of renewable energy. Additionally, we will continue our extensive work around anti-corruption practices, employee engagement and Offering for eco-efficiency development.

We monitor our sustainability performance closely on various areas and set annual sustainability targets to ensure development. You can read more about our targets from Our sustainability work and targets section.

IIFR 2018

Outlook

Outlook for 2019

Cargotec reiterates its outlook published on 8 February 2019 and expects its comparable operating profit for 2019 to improve from 2018 (EUR 242.1 million).

Outlook for 2019, 18 July 2019

Cargotec reiterates its outlook published on 8 February 2019 and expects its comparable operatingprofit for 2019 to improve from 2018 (EUR 242.1 million).

Outlook for 2019, 25 April 2019

Cargotec reiterates its outlook published on 8 February 2019 and expects its comparable operating profit for 2019 to improve from 2018 (EUR 242.1 million).

Outlook for 2019, 8 February 2019

Cargotec expects its comparable operating profit for 2019 to improve from 2018 (EUR 242.1 million).

New alternative performance measure – Comparable operating profit

Cargotec uses alternative performance measures (APMs) to better convey underlying business performance and to enhance comparability from period to period. Starting from 1 January 2019, Cargotec replaces the alternative performance measure of "operating profit excluding restructuring costs" with "comparable operating profit" for measuring business performance in the financial reporting. Comparable operating profit does not contain items significantly affecting comparability. In addition to restructuring costs, these items mainly include capital gains and losses, income and expenses related to business acquisitions and disposals, impairments of assets and reversals of impairments, insurance benefits, and expenses related to legal proceedings. Cargotec's comparable operating profit for 2018 is EUR 242.1 (2017: 258.6) million.

Year 2018

Outlook for 2018, 14 December 2018

Cargotec lowers the guidance for operating profit excluding restructuring costs and expects the operating profit excluding restructuring costs for 2018 to be EUR 235-245 million.

Outlook for 2018, 26 October 2018

Cargotec reiterates its outlook published on 8 February 2018 and expects its operating profit excluding restructuring costs for 2018 to improve from 2017 (EUR 258.6 million, IFRS 15 restated).

Outlook for 2018, 19 July 2018

Cargotec reiterates its outlook published on 8 February 2018 and expects its operating profit excluding restructuring costs for 2018 to improve from 2017 (EUR 258.6 million, IFRS 15 restated).

Outlook for 2018, 24 April 2018

Cargotec reiterates its outlook published on 8 February 2018 and expects its operating profit excluding restructuring costs for 2018 to improve from 2017 (EUR 258.6 million, IFRS 15 restated).

Outlook for 2018, 28 March 2018

Cargotec confirms the 2018 outlook published on 8 February 2018: Cargotec’s operating profit excluding restructuring costs for 2018 is expected to improve from 2017 (EUR 258.6 million, IFRS 15 restated).

Outlook for 2018, 8 February 2018

 Operating profit excluding restructuring costs for 2018 is expected to improve from 2017 (EUR 263.2 million).

Outlook for 2017, 27 October 2017

Cargotec reiterates its outlook published on 8 February 2017 and expects its operating profit excluding restructuring costs for 2017 to improve from 2016 (EUR 250.2 million).  

Outlook for 2017, 20 July 2017

Cargotec reiterates its outlook published on 8 February 2017 and expects its operating profit excluding restructuring costs for 2017 to improve from 2016 (EUR 250.2 million).  

 

Outlook for 2017, 26 April 2017

Cargotec reiterates its outlook published on 8 February 2017 and expects its operating profit excluding restructuring costs for 2017 to improve from 2016 (EUR 250.2 million).

 

Outlook for 2017, 8 February 2017

Cargotec’s operating profit excluding restructuring costs for 2017 is expected to improve from 2016 (EUR 250.2 million).

Year 2016

Outlook for 2016,  25 October 2016

Cargotec’s 2016 sales are expected to be at the 2015 level (EUR 3,729 million) or slightly below. Operating profit excluding restructuring costs for 2016 is expected to improve from 2015 (EUR 230.7 million).

 

Outlook for 2016,  20 July 2016

Cargotec’s 2016 sales are expected to be at the 2015 level (EUR 3,729 million) or slightly below. Operating profit excluding restructuring costs for 2016 is expected to improve from 2015 (EUR 230.7 million).

 

Outlook for 2016, 29 April 2016

Cargotec’s 2016 sales are expected to be at the 2015 level (EUR 3,729 million) or slightly below. Operating profit excluding restructuring costs for 2016 is expected to improve from 2015 (EUR 230.7 million).

 

Outlook for 2016, 10 February 2016

Cargotec’s 2016 sales are expected to be at the 2015 level (EUR 3,729 million) or slightly below. Operating profit excluding restructuring costs for 2016 is expected to improve from 2015 (EUR 230.7 million).

Outlook for 2015, 21 October 2015

Cargotec’s 2015 sales are expected to grow from 2014. Operating profit excluding restructuring costs for 2015 is expected to improve from 2014.

 

Outlook for 2015, 21 July 2015

Cargotec’s 2015 sales are expected to grow from 2014. Operating profit excluding restructuring costs for 2015 is expected to improve from 2014.

 

Outlook for 2015, 28 April 2015

Cargotec’s 2015 sales are expected to grow from 2014. Operating profit excluding restructuring costs for 2015 is expected to improve from 2014.

 

Outlook for 2015, 10 February 2015

Cargotec’s 2015 sales are expected to grow from 2014 (3,358 MEUR). Operating profit excluding restructuring costs for 2015 is expected to improve from 2014 (149.3 MEUR).

Outlook Q3 2014, 23 October 2014

Cargotec’s 2014 sales are expected to grow from 2013. Operating profit excluding restructuring costs for 2014 is expected to improve from 2013.

 

Outlook Q2 2014, 18 July 2014

Cargotec’s 2014 sales are expected to grow from 2013. Operating profit excluding restructuring costs for 2014 is expected to improve from 2013.

 

Outlook Q1 2014, 29 April 2014

Cargotec’s 2014 sales are expected to grow from 2013. Operating profit excluding restructuring costs for 2014 is expected to improve from 2013.

 

Outlook Q4 2013, 4 February 2014

Cargotec's 2014 sales are expected to grow from 2013. Operating profit excluding restructurings costs for 2014 is expected to improve from 2013. The acquisition of the Aker Solution's mooring and loading systems unit was completed 30 January 2014. Consolidation of the acquisition does not impact Cargotec's above-mentioned outlook for 2014.

Outlook Q3 2013, 24 October 2013 (published on 15 October 2013)

The sales and operating profit excluding restructuring costs for 2013 are expected to fall short of 2012.

 

Outlook, 15 October 2013

Cargotec reduces its full-year 2013 guidance given in July. Due to continued slippage in merchant ship deliveries, MacGregor's sales and operating profit for the second half of 2013 will be lower than expected. However, the underlying merchant marine market has continued to improve and the offshore market has remained active. In Kalmar, overall development in the third quarter has been positive, but there were further cost overruns in certain ship-to-shore crane projects.The sales and operating profit excluding restructuring costs for 2013 are expected to fall short of 2012. Earlier guidance was for sales to be slightly below 2012 and operating profit excluding restructuring costs to be at or slightly below 2012 level.

 

Outlook Q2 2013, 18 July 2013

Certain deliveries for MacGregor will be delayed and customers are postponing services. MacGregor's 2013 operating profit margin is expected to be slighty below 10 percent, as 2013 sales are falling short of the previously expected approximately EUR 850 million and now are expected to total closer to EUR 800 million. Cargotec's sales are expected to be slightly below 2012 and operating profit excluding restructuring costs to be at or slighty below 2012 level.This outlook is excluding the Hatlapa acquisition announced in July.

 

Outlook Q1 2013, April 2013

Cargotec’s sales are expected to be slightly below 2012 and operating profit excluding restructuring costs to be at 2012 level. Positive impact of efficiency improvement measures implemented will be weighted on the second half of the year.

 

Outlook Q4 2012, February 2013

Cargotec's sales are expected to be slightly below 2012 and operating profit excluding restructuring costs to be at 2012 level. Positive impact of efficiency improvement measures implemented will be weighted on the second half of the year

Outlook Q3 2012, 25 October 2012 (published 15 October 2012)

The operating profit margin for 2012 is expected to be approximately 5 percent excluding non-recurring costs. Sales are expected to grow from 2011.

 

Outlook, 15 October 2012

Cargotec reduces its full-year 2012 operating profit margin guidance given in July. Due to cost overruns, the profitability of large projects in the Terminals business area fell below expectations in the third quarter, and therefore also the fourth quarter performance is expected to remain below previous expectations. Cargotec's guidance is also affected by slippages of deliveries over the year-end into 2013 in the Marine business area.

The operating profit margin for 2012 is expected to be approximately 5 percent excluding non-recurring costs. Sales are still expected to grow from 2011.

 

Outlook Q2 2012, 19 July 2012

Cargotec's 2012 operating profit margin is expected to be approximately 6 percent. Sales are expected to grow from 2011.

 

Outlook 12 June 2012

Cargotec reduces its 2012 profitability guidance given in April due to lower operating result in Terminals segment than previously expected. Cargotec's 2012 operating profit margin is expected to be approximately 6 percent. Sales are still expected to grow from 2011. Earlier guidance was for sales to grow and operating profit margin to improve from previous year's 6.6 percent level. Terminals and Load Handling segments' operating profit margins are still expected to improve from the previous year, but the margin improvement in Terminals will be clearly less than previously expected.

 

Outlook Q1 2012, 26 April 2012

Marine segment profitability is expected to continue healthy, although full year sales are expected to decline slightly from previous year. Sales in Terminals and Load Handling segments are expected to grow as a result of the order book. Terminals segment order book supports expectations that the segment’s profitability will clearly improve from the first quarter.Cargotec expects its 2012 sales to grow and operating profit margin to improve compared to 2011.

 

Outlook Q4 2011, 7 February 2012

Cargotec expects its 2012 sales to grow and operating profit margin to improve compared to 2011.

Outlook Q3 2011, 27 October 2011

Cargotec reiterates its 2011 guidance: Cargotec's 2011 sales are estimated to grow approximately 20 percent based on healthy January - September order intake. Cargotec's 2011 operating profit margin is estimated to be approximately 7 percent.

 

Outlook Q2 2011, 21 July 2011

Cargotec reiterates its 2011 guidance: Cargotec’s 2011 sales are estimated to grow approximately 20 percent. Healthy first half order intake both in Industrial & Terminal and Marine segments together with the recovery in the market situation support a more positive growth expectation. Sales growth and significant efficiency improvement measures executed during the past years, support profitability, but there is cost pressure on the markets. Cargotec’s 2011 operating profit margin is estimated to be approximately 7 percent.

 

Outlook Q1 2011, 28 April 2011

Cargotec’s 2011 sales are estimated to grow approximately 20 percent. Healthy first quarter order intake both in Industrial & Terminal and Marine segments together with the recovery in the market situation supports a more positive growth expectation. Sales growth and significant efficiency improvement measures executed during the past years, support profitability, but there is cost pressure on the markets. Cargotec’s 2011 operating profit margin is estimated to be approximately 7 percent.In February, Cargotec’s 2011 sales were estimated to grow over 10 percent and 2011 operating margin was estimated to continue to improve.

 

Outlook Q4 2010, 3 February 2011

Cargotec’s 2011 sales are estimated to grow over 10 percent based on estimated strong growth both in the Industrial & Terminal and Marine segments. The recovery in the market situation and increased order intake are estimated to boost growth for Industrial & Terminal while the strong order book in the beginning of the year is estimated to support growth in Marine sales. Cargotec’s 2011 operating profit margin is estimated to continue to improve as a result of growth and significant efficiency improvement measures executed during the past years.

Outlook Q3 2010, 27 October 2010

Guidance published 18 October 2010 reiterated: Cargotec continues to estimate 2010 sales to be on 2009 level for both Industrial & Terminal and Marine segments. Operating profit for 2010 is expected to be in the range of EUR 120-130 million including one-time restructuring costs.The recovery in the market environment and the resulting growth in order volumes support growth in Industrial. The sales of Terminal are expected to fall short of 2009 levels due to the slower recovery of these markets, as second half orders will not have an effect on full-year sales due to delivery times. Based on the healthy nine-month development, strong order book and new orders received still to be delivered during 2010, sales in Marine will reach year 2009 level.

 

Outlook 18 October 2010

Based on the operational performance in the third quarter and particularly in September, Cargotec’s visibility on the timing and profitability of deliveries during the remainder of the year has increased. As a result Cargotec specifies upwards its operating profit guidance. Operating profit for 2010 is estimated to be in the range of EUR 120–130 million. Earlier operating profit was estimated to exceed EUR 100 million. Both the previous and now specified operating profit guidance includes one-time restructuring costs.Cargotec repeats its sales guidance published in July. Cargotec’s 2010 sales are estimated to be on 2009 level for both Industrial & Terminal and Marine reporting segments.

 

Outlook Q2 2010, 21 July 2010

Cargotec continues to estimate 2010 consolidated sales to be on 2009 level for both Industrial & Terminal and Marine segments and consolidated operating profit to exceed EUR 100 million. The recovery in the market environment and the resulting growth in order volumes support growth in Industrial. The sales of Terminal are expected to fall short of 2009 levels due to the slower recovery of these markets, as second half orders will have a minor effect on full-year sales due to delivery times. Based on the healthy first half development, strong order book and new orders received still to be delivered during 2010, sales in Marine will reach year 2009 level.

 

Outlook Q1 2010, 29 April 2010

There are tentative positive signs visible in the order intake for the Industrial business whereas uncertainty continues in the Terminal business. Based on the strong order book, sales in the Marine business are expected to remain on a healthy level in 2010. Cargotec’s 2010 sales are estimated to be on 2009 level and operating profit to exceed EUR 100 million.

 

Outlook Q4 2009, 3 February 2010

There are tentative positive signs visible in the order intake for industrial business. Uncertainty continues in port terminal business. Based on the strong order book, sales in marine cargo handling business are expected to remain on a healthy level in 2010. Cargotec's 2010 sales are estimated to be on 2009 level and operating profit to exceed EUR 100 million. It is estimated that still a few million euro in restructuring costs from currently ongoing restructuring measures will be booked during early-2010.

​Outlook Q3 2009, 22 October 2009

Due to the weak market situation, demand for Cargotec's products and services is expected to continue clearly lower than last year. Despite expected growth in marine cargo handling business Cargotec's 2009 sales are estimated to decline approximately 25 percent from the previous year's.
An estimated total of approximately EUR 70 million will be booked as productivity-improving restructuring costs for 2009, with EUR 37 million booked in January-September. Cargotec estimates 2009 operating result after restructuring costs to be negative.

 

Outlook Q2 2009, 20 July 2009

Due to the weak market situation, demand for Cargotec's products is expected to continue clearly lower than last year, the decline being milder in services.
Despite expected growth in marine cargo handling business Cargotec's 2009 sales are estimated to decline approximately 25 percent from the previous year's level.An estimated total of approximately EUR 50 million will be booked as productivity-improving restructuring costs for 2009, with EUR 22 million reported in the first half.Cargotec estimates 2009 operating profit after restructuring costs to be slightly positive, however, cash flow from operations is estimated to continue clearly positive in the second half of 2009.

 

Outlook Q1 2009, 28 April 2009

The economic situation and investment activity continue to be uncertain, which makes it difficult to estimate demand for Cargotec’s products. This is further complicated by possible order postponements and cancellations. Sales in MacGREGOR are expected to grow in 2009. Sales of Hiab and Kalmar are expected to clearly decline from 2008 level. A total of approximately EUR 40 million of restructuring costs improving competitiveness are expected to be booked in 2009, of which EUR 9 million was booked in the first quarter.

 

Outlook Q4 2008, 2 February 2009

In the current uncertain economic situation it is difficult to estimate the demand for Cargotec's products. This is further complicated by possible order cancellations and delays. The preconditions for sales growth exist in services and MacGREGOR. Sales of Hiab and Kalmar are expected to decline from 2008. Significant restructuring measures costing EUR 35 million were decided on during 2008 to create a new supply platform and improve profitability in Cargotec. Focus is on the rapid implementation of these measures. Approximately EUR 16 million of these costs remain for 2009.

Cargotec's financial targets

Cargotec's Board of Directors confirmed on 5 September 2017 the financial targets for Cargotec Corporation. Targets are the following:

  • Grow faster than the market (unchanged)
  • Cargotec operating profit margin 10% in 3-5 years
  • Service and software sales 40% of net sales, minimum EUR 1.5 billion in 3-5 years
  • Increasing dividend in the range of 30-50% of EPS, dividend paid twice a year
  • 15% ROCE in 3-5 years
  • Gearing below 50% (unchanged)

The financial targets reflect Cargotec’s increased profitability and stability. Cargotec’s must-win battles - customer centricity, services, digitalisation and productivity - form the core of the company’s strategy. With the must-win battles, we aim to become the global leader in intelligent cargo handling.

Development on financial targets


Operating profit margin and ROCE

ROCE (return on capital employed), annualised *) Excluding restructuring costs

Dividend

* 2017 EPS figure has been restated according to IFRS 15
** Board proposal to AGM

Gearing and net debt

*Year 2017 figures have been restated according to IFRS 15

Cargotec’s CEO Mika Vehviläinen in half year financial report January–June 2019: Operating profit increased at Kalmar and Hiab

The second quarter of 2019 was two-fold at Cargotec. Result at our biggest business area Kalmar developed strongly and its operating profit grew by 41 percent. Operating profit increased also at Hiab and in the second quarter it was the best ever. We made progress in solving the supply chain challenges during the beginning of the year. 

On the other hand, MacGregor’s market situation remained challenging and its operating profit declined. During recent years we have already reduced MacGregor’s costs significantly, and we will continue with the streamlining during the second half of 2019 as well. We strengthen MacGregor by acquiring of the marine and offshore businesses of TTS Group ASA. All the needed regulatory approvals to be able to complete the transaction have now been received and we expect to close the transaction on 31 July 2019. The scale benefits of the acquisition create opportunity to further improve productivity and global presence. The merger of the two leading companies in their field provides us with excellent opportunities to better serve our customers, strengthen our competitiveness and continue to develop our products and services.

In terms of orders received, the good development continued at Hiab with orders increasing by 13 percent compared to the comparison period. Kalmar’s orders received declined, which was to be expected, as the comparison period’s order intake included an 80 million euro agreement to deliver a state-of-the-art, fully automated terminal solution to Australia. At MacGregor the orders received decreased.

Our service and software business continued to develop favourably. Service orders received increased by eight percent and service sales increased by five percent. Software sales grew by 42 percent. The sales of our services and software business was close to 1.2 billion euros during the last 12 months, keeping us well on track in terms of our target to reach 1.5 billion euros.

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 financial targets?

Cargotec’s financial targets, confirmed by the Board of Directors:

  • Grow faster than the market
  • Cargotec operating profit margin 10% in 3-5 years
  • Service and software sales 40% of net sales, minimum EUR 1.5 billion in 3-5 years
  • Increasing dividend in the range of 30-50% of EPS, dividend paid twice a year
  • 15% ROCE in 3-5 years
  • Gearing below 50%

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

 

2. Which are Cargotec’s business areas?

Cargotec’s business areas are Kalmar, Hiab and MacGregor. Kalmar offers industry shaping cargo handling equipment and automated terminal solutions, software and service; Hiab is the global market leader in on-road load handling, and MacGregor provides world-leading engineering solutions and services for offshore and marine industries.

 

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 2018, 49 percent of sales came from EMEA, 31 percent from Americas and 20 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 11,987 people at the end of 2018.

 

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

In 2018, R&D expenditure totalled EUR 89.0 million, representing 2.7 percent of sales.

 

Shares

Cargotec shares

1. Where are Cargotec’s shares listed?

Cargotec’s class B share is listed on the Nasdaq Helsinki stock exchange.

2. How many share series does Cargotec have?

Cargotec has two share series, out of which B share is listed.

3. How many outstanding shares does Cargotec have?

The number of B shares is 55,182,079 and the number of unlisted A shares is 9,526,089.

4. Who are Cargotec’s largest shareholders?

The list of Cargotec’s largest shareholders is updated every month and can be found under Shareholders section.

Cargotec’s three major shareholders are Wipunen varainhallinta Oy controlled by Ilkka Herlin, Mariatorp Oy controlled by Niklas Herlin’s estate and Pivosto Oy, a company controlled by Ilona Herlin. Together these shareholders hold approximately 37% of total shares and 69% of the votes. 

5. What is the current share price?

Information about our current and past share prices can be found on shares section.


6. What is Cargotec’s dividend policy?

Cargotec’s target for the dividend: increasing dividend in the range of 30-50% of EPS, dividend paid twice a year.

You can find more information about dividend and dividend policy in Shares section.

7. When is the dividend paid out?

For 2019, the Board of Directors proposes to the Annual General Meeting that convenes in 19 March 2019, that the dividend would be paid in two instalments, in March and October 2019. The payout dates for dividends are reported in IR calendar

Financial information

Financial information

1. When does Cargotec publish its financial results?

The publication date varies from year to year. The Financial review 2018 was published on 8 February 2019. Please refer to our IR calendar to find publication dates.

2. How are software sales calculated?

Software sales include Navis business unit and automation software.

3. What is the basis of preparation of Cargotec’s financial statements?

Cargotec Corporation’s consolidated financial statements are prepared according to the International Financial Reporting Standards (IFRS) as adopted by the European Union.

4. What is Cargotec’s reporting currency?

The consolidated financial statements are presented in euros, which is the functional and reporting currency of the parent company.

5. Who are Cargotec’s auditors?

On 27 December, the Finnish Patent and Registration Office designated Markku Katajisto, Authorised Public Accountant, as the company's statutory auditor for the financial year 2018, with the role taking effect immediately.

Markku Katajisto replaced Tomi Hyryläinen as the company's auditor, as Tomi Hyryläinen announced on 20 December 2018 his resignation from this position.

After the change, Cargotec's statutory auditors are PricewaterhouseCoopers Oy, Authorised Public Accountants and Markku Katajisto, Authorised Public Accountant.

6. Why does Cargotec use alternative performance measures (APM)?

Cargotec uses and presents alternative performance measures (APMs) to better convey underlying business performance and to enhance comparability from period to period. APMs are reported as complementary information.

Read more about APMs in section calculation of key figures.

7. What is included in restructuring costs?

Restructuring costs include restructuring provisions, asset impairments and disposals, expenses for vacant premises and other restructuring-related expenses in case of a significant restructuring programme of Cargotec or its business area.

 

Corporate governance

Corporate governance

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

At the annual general meeting 2018, Kimmo Alkio, Jorma Eloranta, Tapio Hakakari, Ilkka Herlin, Peter Immonen, Teresa Kemppi-Vasama, Johanna Lamminen, Kaisa Olkkonen, Teuvo Salminen and Heikki Soljama were re-elected to the Board of Directors.

2. Who are the members of Cargotec’s executive board?

The list and information about the members of the executive board can be found in Governance section.

3. What are Board members’ annual remunerations?

Based on the decision of the AGM of 20 March 2018, the Board’s annual remunerations are as follows:

  • Chairman: EUR 85,000
  • Vice Chairman: EUR 60,000
  • Chairman of the Audit and Risk Management Committee: EUR 60,000
  • Other Board members: EUR 45,000

In addition, a fee of EUR 1,000 is paid for attendance of meetings of the Board and its committees.

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

The principles of remuneration at Cargotec can be viewed here. 

Cargotec

AMER Americas
APAC Asia-Pacific
Brownfield terminal Existing terminal
Construction output Construction production volume, a key market driver for Hiab
Container throughput A measure of the number of containers handled over a period of time. It is a standard measure for the productivity of a seaport. Container throughput is measured by twenty-foot equivalent units (TEU). Key market driver for Kalmar
EMEA Europe, Middle East and Africa
Greenfield terminal Brand-new terminal whose construction does not contain constrainsts of buildings and infrastructure
Rainbow-Cargotec Industries (RCI) A joint venture with Cargotec’s partner in China, Jiangsu Rainbow Heavy Industries (RHI)
RCI Rainbow-Cargotec Industries (RCI), a joint venture with Cargotec’s partner in China, Jiangsu Rainbow Heavy Industries (RHI)
SAF Semi-automated folding, used in some of Hiab's products
Software sales When reported, software sales includes Navis business unit and automation software
TEU TEU stands for Twenty-Foot Equivalent Unit which can be used to measure a ship's cargo carrying capacity. The dimensions of one TEU are equal to that of a standard 20′ shipping container. 20 feet long, eight feet tall.
TLS Terminal logistic system
TOS Terminal operating system

Kalmar

ASC crane Automated stacking crane (image)
Forklift truck Trucks for lifting different kinds of loads (more information)
Intermodal handling Involving two or more different modes of transportation
Loaded container handler Masted container handler for containers that are loaded
Logstacker Stacker for handling logs (image)
Masted container handler Masted container handlers to handle both empty and loaded containers (image)
OneTerminal Kalmar's OneTerminal is an integrated automation solution that brings together Kalmar and Navis software systems, equipment and services (more information)
Port 2060 Kalmar's initiative that was originally launched in 2011 to spark discussion on the future of the port industry. Read the blog
Reachstacker Reachstackers are machines for container handling, industrial handling and intermodal handling (more information)
RMG crane Rail-mounted gantry crane (more information)
Rough terrain handler Rough terrain handlers are designed specifically for use in the world’s most challenging environments (more information)
RTG crane Rubber-tyred gantry crane for large terminals (more information)
Shuttle carrier Carriers to pick, carry, stack and ground containers or for example moving containers from ship to shore (more information)
Straddle carrier Carriers for ship-to-shore operations (more information)
STS crane Ship-to-shore crane for moving containers from ships to terminal (more information)
Terminal tractor Terminal tractors can be used for short distance transportations in ports and container terminals, distribution and logistic centres as well as industrial sites (more information)

Hiab 

HiConnectTM   Hiab's connected service offering, which enhances the productivity of Hiab equipment for fleet operators by enabling real-time insights via web-based dashboards showing the utilisation, condition and operation of their connected Hiab equipment (more information)
HiVisionTM  HiVision, Hiab's 3D technology product for forestry cranes, makes possible to move the crane from a truck cabin (more information)
Loader crane Crane attached to a truck (more information)
Truck mounted forklift Forklifts for loading and unloading cargo without assistance. Fits at the rear of a truck or trailer. Hiab produces truck mounted forklift under MOFFETT brand (more information

MacGregor 

Offshore Industrial activity at sea, e.g. drilling and pumping at an oil or gas well
RoRo vessel Roll-on/roll-off vessel, designed to carry wheeled cargo that are driven on and off the ship
RoPax vessel Roll-on/roll-off passanger vessel for freight vehicle transport and passenger accommodation

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