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Cargotec in figures Financials

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Alternative performance measures (APMs) used in Cargotec's financial reporting

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

The alternative performance measures used by Cargotec are:

  • Comparable operating profit (MEUR and % of shares) = Operating profit excluding items significantly affecting comparability
  • Interest-bearing net debt (MEUR) = Interest-bearing liabilities – loans receivable and other interest-bearing assets +/- foreign currency hedge of corporate bonds
  • Net interest-bearing debt / EBITDA, rolling 12 months = Net interest bearing debt / EBITDA (earning before interests, taxes, depreciation and amortisation, rolling 12 months)
  • Operative capital employed = Net working capital + goodwill + other intangible assets + property, plant and equipment + investments in associated companies and joint ventures + share investments

Comparable operating profit

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. In addition to the items significantly affecting comparability, the restated comparable operating profit will also exclude the impacts of the purchase price allocation. According the new definition comparable operating profit does not contain items significantly affecting comparability including in addition to restructuring costs, mainly impacts of the purchase price allocation, 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.

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.

Calculation of key figures

Return on equity (ROE) (%), last 12 months = Net income for the financial year, last 12 months / Total equity (average for the last 12 months)

Return on capital employed (ROCE) (%), last 12 months = 100 x Income before taxes + financing expenses, last 12 months / Total assets - non-interest-bearing debt (average for the last 12 months)

Total equity / total assets (%) = 100 x Total equity / (Total assets - advances received)

Gearing (%) = Interest-bearing liabilities (non-current interest-bearing liabilities + current portion of interest-bearing liabilities + current other interest-bearing liabilities) - interest-bearing receivables (non-current and current loans receivable and other interest-bearing assets) - cash and cash equivalents +/-foreign currency hedge of corporate bonds / Total equity

Basic earnings / share (EUR)= Net income attributable to the equity holders of the parent / Average number of outstanding shares during period
Diluted earnings / share (EUR) = Net income attributable to the equity holders of the parent / Average number of diluted outstanding shares during period

Equity / share (EUR) = Total equity attributable to the equity holders of the parent / Number of outstanding shares at the end of period

Dividend / share (EUR) = Dividend for financial period / Number of outstanding shares at the end of financial period

Dividend / earnings (%) = 100 x (Dividend for financial period / share) / (Earnings / share)

Effective dividend yield (%) = 100 x (Dividend / share) / Closing price for the class B share at the end of financial period

Price / earnings (P/E) = Closing price for the class B share at the end of period / (Earnings / share)

Average share price (EUR) = EUR amount traded during period for the class B share / Number of class B shares traded during period

Market capitalisation at the end of financial period = Number of class B shares outstanding at the end of period x closing price for the class B share at the end of period + Number of class A shares outstanding at the end of period x closing day average price for the class B share

Trading volume = Number of class B shares traded during period

Trading volume (%) = 100 x Number of class B shares traded during period / Average weighted number of class B shares during period
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