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January–September 2023 interim report on 26 October 2023
Release Presentation WebcastBrowse all Cargotec’s investor publications in this section. In case you need additional information, please contact Cargotec Investor Relations team.
This section contains Cargotec's IR newsletters, mainly published quarterly before the three-week silent period. You can find the most recent letter below.
As our silent period is about to start, we would like to highlight some of the most notable events of the third quarter of 2023. Cargotec’s interim report January-September 2023 will be published on Thursday, 26 October 2023, and the silent period starts on Thursday, 5 October 2023.
In April, Cargotec announced that the Board of Directors of Cargotec has decided to investigate and initiate a process to potentially separate its core businesses Kalmar and Hiab into two standalone companies. Cargotec’s intention would be to separate Kalmar as a new listed company by means of a partial demerger from Cargotec. The Board of Directors of Cargotec estimates that the separation of Kalmar and Hiab could unlock shareholder value by allowing both businesses to pursue sustainable profitable growth opportunities independently.
In August, Cargotec announced that Pekka Ala-Pietilä has been proposed as the Chair of the Board of the potential separately listed standalone Kalmar. Until the consummation of the proposed demerger, Pekka Ala-Pietilä will serve as consultant for Cargotec to assist in forming of standalone Kalmar. In addition, the Cargotec Board proposes that current Board members Teresa Kemppi-Vasama and Tapio Kolunsarka would be elected as members of the Board of standalone Kalmar upon the completion of the contemplated demerger.
Also, to strengthen the leadership at Kalmar, Michel Van Roozendaal has stepped down from the position of the President of Kalmar and as member of Cargotec Leadership Team. Cargotec's President and CEO Casimir Lindholm acts as interim President of Kalmar until the search for a permanent CEO of Kalmar has been completed.
Date (booking quarter): 29 September (Q3/23)
Business area: MacGregor
Description: design and deliver the key components consisting of external and internal ramps, covers, electrically operated doors, and liftable car decks, as well as installation support for two of the world's first methanol-fueled Pure Car and Truck Carriers (PCTC)
Country/Customer: China/China Merchant Energy Shipping
Value: Not disclosed (large order)
Date (booking quarter): 28 September (Q3/23)
Business area: Kalmar
Description: six Kalmar hybrid straddle carriers
Country/Customer: Netherlands/Rotterdam Short Sea Terminals
Value: Not disclosed (large order)
Date (booking quarter): 20 September (Q3/23)
Business area: MacGregor
Description: 40 general cargo cranes for ten 84,500 dwt multipurpose vessels
Country/Customer: Not disclosed
Value: More than EUR 25 million
Date (booking quarter): 27 July (Q3/23)
Business area: Kalmar
Description: Ten Kalmar hybrid straddle carriers
Country/Customer: Australia/Patrick Terminals
Value: Not disclosed (significant order)
Other releases from Q3
In August, Kalmar announced that it has signed an agreement to acquire the product rights of the electric terminal tractor product line from Lonestar Specialty Vehicles (LSV) in the United States. Lonestar Specialty Vehicles, headquartered in Texarkana, Texas, is specialized in the development and manufacturing of turnkey electric vehicle solutions for the commercial vehicle market.
In August, Cargotec announced that it had completed share repurchases announced in July. Cargotec now holds 407,043 own shares including the shares repurchased. In July, Cargotec announced that the Board of Directors has decided to exercise the authorisation of the Annual General Meeting on 23 March 2023 to repurchase the company's own shares. Cargotec will repurchase 400,000 class B shares to be used as reward payments for Cargotec's share-based incentive programmes. The shares will be purchased at public trading on Nasdaq Helsinki Ltd. at the market price.
Cargotec hosted its Q3/2023 pre-silent call on 4 October. In this video, Cargotec's CFO Mikko Puolakka answers the most frequent questions received from investors during July–September 2023. Martti Henttunen from Cargotec's IR team interviews.
The third quarter was full of insightful meetings and events. During the third quarter, road shows and investor conferences took us to the Norway, the UK, Belgium, Netherlands, France and Sweden, and we have also hosted investor visits at our headquarters in Helsinki, Finland. We are also available for virtual and hybrid meetings and events.
In Q4, you can meet us at roadshows in North America, London and in Paris, at an investor seminar in Copenhagen, and also at a virtual roadshow.
Please note that the schedule is preliminary and subject to change. You will always find the up-to-date listing of the conferences and events from our IR calendar. Please reach out to us to set up a meeting! Do not hesitate to contact Heidi at heidi.gustafsson(at)cargotec.com to agree on the details.
IR calendar on the Cargotec website
You can follow Cargotec investor-related and other news also in Instagram. Be sure to go to @cargotecglobal and subscribe!
Check our IR blog section for interesting stories about various topics around our industry and activities.
We maintain a list with all mergers and acquisitions as well as divestments on the Cargotec website Investors section - you can find the M&A history here.
Visit the IR calendar section on the Cargotec website for more information about upcoming and past events.
Have a look at the latest VARA consensus estimates.
