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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 estimates Hiab’s comparable operating profit margin in 2024 to be above 13.5 percent and MacGregor’s comparable operating profit in 2024 to be above EUR 55 million.
In its outlook initially published on 1 February 2024, Cargotec estimated Hiab’s comparable operating profit margin in 2024 to be above 12 percent and MacGregor’s comparable operating profit in 2024 to improve from 2023 (EUR 33 million).
Cargotec Corporation (“Cargotec”) announced on 26 June 2024 that Cargotec’s Board of Directors has decided to complete the partial demerger of Cargotec (the “Demerger”) and that the completion of the Demerger and the incorporation of Kalmar as a separate new company would be registered on 30 June 2024. Cargotec updates its outlook for 2024 to take the anticipated completion of the Demerger into account.
Updated outlook for 2024
Cargotec estimates (1 Hiab’s comparable operating profit margin in 2024 to be above 12 percent and MacGregor’s comparable operating profit in 2024 to improve from 2023 (EUR 33 million).
1) The business area 2024 profitability outlook is presented using the same principles which are applied in the 2023 external financial reporting.
Background for the updated outlook
The outlook for Hiab and MacGregor businesses, which was originally published on 1 February 2024, has not been amended. As the Demerger is expected to be completed on 30 June 2024, the Kalmar business has been removed from Cargotec’s outlook for 2024.
Cargotec estimates1 Hiab’s comparable operating profit margin in 2024 to be above 12 percent, Kalmar’s comparable operating profit margin in 2024 to be above 11 percent, and MacGregor’s comparable operating profit in 2024 to improve from 2023 (EUR 33 million).
1) The business area 2024 profitability outlook is presented using the same principles which are applied in the 2023 external financial reporting.
Cargotec estimates1 Hiab’s comparable operating profit margin in 2024 to be above 12 percent, Kalmar’s comparable operating profit margin in 2024 to be above 11 percent, and MacGregor’s comparable operating profit in 2024 to improve from 2023 (EUR 33 million).
1) The business area 2024 profitability outlook is presented using the same principles which are applied in the 2023 external financial reporting.
Cargotec reiterates its outlook published on 4 February 2021 and expects its comparable operating profit for 2021 to improve from 2020 (EUR 227* million).
*The comparable operating profit has been specified from EUR 228 million to EUR 227 million. Additional information about the comparable operating profit definition is presented in the stock exchange release published on 29 March 2021.
Cargotec reiterates its outlook published on 4 February 2021 and expects its comparable operating profit for 2021 to improve from 2020 (EUR 227* million).
*The comparable operating profit has been specified from EUR 228 million to EUR 227 million. Additional information about the comparable operating profit definition is presented in the stock exchange release published on 29 March 2021.
Cargotec reiterates its outlook published on 4 February 2021 and expects its comparable operating profit for 2021 to improve from 2020 (EUR 227* million).
*The comparable operating profit has been specified from EUR 228 million to EUR 227 million. Additional information about the comparable operating profit definition is presented in the stock exchange release published on 29 March 2021.
Cargotec expects its comparable operating profit for 2021 to improve from 2020 (EUR 227* million).
Release 29 March 2021: Cargotec changed the definition of the alternative performance measure comparable operating profit and discloses figures in accordance with the new definition for the comparison period 2020.
As stated in the financial statements review 2020, Cargotec changed the definition of the alternative performance measure comparable operating profit starting from 1 January 2021 to align it with the definition used in the merger prospectus published on 3 December 2020. In addition to the items significantly affecting comparability, the restated comparable operating profit will also exclude the impacts of the purchase price allocation, which amounted to EUR 23 million in 2020. EUR 10 million of the items were related to Kalmar, EUR 2 million to Hiab and EUR 11 million to MacGregor.
*Comparable operating profit in accordance with the new definition published in the financial statements review on 4 February 2021 has been specified from EUR 228 million to EUR 227 million.
