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Cargotec's governance and management are based on the Finnish Limited Liability Companies Act and Securities Markets Act, as well as the Company’s Articles of Association and Code of Conduct. The Cargotec class B share is listed at Nasdaq Helsinki and the Company complies with the rules and guidelines of Helsinki Stock Exchange and the Finnish Financial Supervision Authority as well as with all the recommendations of the Finnish Corporate Governance Code 2020, published by the Securities Markets Association (

Internal control and risk management

The objective of Cargotec’s internal control is to ensure that its operations are efficient and profitable, that risk management is adequate and appropriate, and that financial and other information produced is reliable. Cargotec’s internal control is based on the company’s Code of Conduct and Internal Controls Framework. With respect to the financial reporting process, these are supported by Cargotec’s policies and guidelines, as well as its internal financial reporting process and communication. Cargotec’s internal control policy, which is approved by the Board of Directors, specifies the applicable control principles, procedures and responsibilities. The company SpeakUp Line gives an opportunity to confidentially and anonymously raise concerns of possible misconduct or other matters that may not be in line with company values and policies.

Similarly to other Cargotec operations, responsibility for internal control is divided into three tiers. The line management is principally responsible for internal control. This is backed by corporate support functions, which define instructions applicable across the company and supervise risk management. Internal and external audits form the third tier, their task being to ensure that the first two tiers function effectively.

The role of Cargotec Internal Audit is an independent and objective assurance and consulting activity that is guided by a philosophy of adding value and improving the operations of Cargotec and its businesses. It helps and supports the business organisation accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. To ensure the independence of the Internal Audit function, Head of Internal Audit reports functionally to the Audit and Risk Management Committee, and administratively to the CFO. Internal Audit develops a flexible risk based audit plan which is approved by the Audit and Risk Management Committee.



Strategy and values for tax

Creating optimum shareholder and customer value is the underlying principle guiding Cargotec’s operations. Cargotec aims to keep a keen eye on growth, profitability and cash flow, while simultaneously ensuring strong position as a technology forerunner and market leader.

To align with Cargotec's business strategy Cargotec’s tax strategy is to support business operations through sustainable tax management by identifying and delivering simple, flexible, cost- and tax-efficient solutions for Cargotec business to increase shareholder value and guarantee appropriate taxes to be paid on time in each country of operations.

Cargotec Tax Department works actively to identify and manage business, technical and reputational risks concerning tax issues early enough to create a stable platform for business operations. Cargotec’s businesses are engaged in tax matters already in the planning phase to ensure alignment and appropriate compliance of tax rules and regulations. Cargotec Tax Department communicates transparently to improve engagement and understanding of tax matters. 

Tax values

Cargotec Tax Department has defined its processes and agreed accountabilities and responsibilities of tax matters with business operations to safeguard that all tax issues are managed in line with existing regulations. 

Cargotec Tax Department works together with Cargotec’s business areas to create solutions that support achievement of business targets and takes shareholder value into account as a whole.

Cargotec Tax Department respects existing regulation set to listed companies and supports the needs of business operations following the Cargotec governance rules.

Cargotec’s tax management is based on transparent communication and identifying Cargotec's obligations and rights. Cargotec Tax Department makes all reasonable efforts to comply with the existing rules. Tax evasion is forbidden.

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