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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 our business areas Kalmar, Hiab and MacGregor. We have leading brands in markets with long term growth potential. Several megatrends support our businesses.

Our strategy breakthrough objectives are sustainability and profitable growth. Our vision is to become the global leader in sustainable cargo flow.

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

Capitalising global opportunities for electrification, automation and software

Industry trends support growth in electrification:

  • End-customer demand for E2E sustainability in the logistic chain
  • Lower operating costs lead to lower total cost of ownership
  • Environmental regulation/investments support low-emission technologies
  • Safety – electric vehicles create less noise and vibration during operation
  • Urbanisation promotes quiet and low-emission load handling solutions
  • Increasing capital market incentives to ESG-focused companies
  • Electrification often precedes automation and/or robotisation
  • Air quality considerations – more than 90% of European ports are in or close to urban areas (source: ESPO environmental report 2020)

Electrification creates significant cost and emission savings

Kalmar electric medium forklift**
Fuel/electricity costs 83% less annual costs
ROI ~3 years
GHG emissions 97% less operational emissions
HIAB MOFFETT E-SERIES NX***
Emissions 75% CO2 reduction
ROI 4 years
Operating costs 80% reduction

** Swedish customer case, comparing an electric medium forklift against a comparable ICE  forklift, both with a 5-year lease solution
*** MOFFETT e-Series (electric) compared against MOFFETT M-series (diesel)

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 creates significant cost savings*

Labour costs 60% less
Total costs 24% less
Profit increase +125%

*Change when a manual terminal is converted into an automated operation

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

Customers consider their automation decisions carefully:

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