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Half-year report January-June 2024 will be published on 8 August, 2024
Invitation release Teleconference 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 first half of 2024. Cargotec's half year financial report January–June 2024 will be published on Thursday, 8 August 2024, and the silent period starts on Thursday, 18 July 2024.
Cargotec will disclose the following financial information in 2024:
The completion of the partial demerger of Cargotec Corporation and the incorporation of a new Kalmar Corporation was registered in the Finnish Trade Register on 30 June 2024. Cargotec's Annual General Meeting had resolved on the partial demerger of Cargotec in accordance with the demerger plan on 30 May 2024. In April 2023, Cargotec's Board of Directors had decided to investigate and initiate a process to separate Kalmar and Hiab into two standalone companies.
Trading in the Kalmar class B shares on Nasdaq Helsinki commenced on 1 July 2024. Trading in Cargotec’s class B shares has continued on Nasdaq Helsinki with a new ISIN code FI4000571013. The new ISIN code for Cargotec’s class A shares is FI4000571005.
More information about the demerger can be found here.
As announced on 14 November 2022, MacGregor will not be part of Cargotec’s portfolio in the future. Since then, as MacGregor’s performance and market conditions have improved, and as a dispute with a monopile installation vessel customer has been settled, Cargotec has decided to proceed with the sale process of MacGregor.
If a solution to MacGregor is found so that MacGregor would not thereafter be part of the Cargotec group, Cargotec’s Board of Directors is planning to propose to Cargotec’s General Meeting of shareholders that the company’s name would be changed from Cargotec to Hiab. Should such actions be carried out as planned in the leadership of the current President and CEO of Cargotec, Casimir Lindholm has announced his intention to step down as President and CEO at such point. The Board of Directors would then appoint the President of the Hiab business Scott Phillips as the President and CEO of the renamed company being the current Cargotec. Cargotec currently estimates that these changes to transform into standalone Hiab could take place during 2025. The current Cargotec CFO Mikko Puolakka would continue as CFO of standalone Hiab.
As a result of the the completion of the partial demerger of Cargotec Corporation, Cargotec has updated its segment reporting and from 30 June 2024 onwards Cargotec has two reporting segments, Hiab and MacGregor. The Kalmar segment has been removed. The new reporting structure will be used in Cargotec’s half-year financial report January–June 2024.
To provide a basis for comparison, Cargotec publishes its reclassified financial information of reportable segments and Corporate administration and support functions for all quarters of 2023 and the first quarter of 2024 separately, as well as for the full year 2023. Corporate administration and support functions now reflect continuing operations. Hiab and MacGregor financial information remains unchanged.
Additionally, Cargotec starts publishing a new alternative performance measure for its Hiab segment; Operative return on capital employed (Operative ROCE, defined as operating profit / operative capital employed, last 12 months). To provide a basis for comparison, Cargotec publishes Hiab’s operative ROCE for all quarters of 2023 and first quarter of 2024 separately.
The change in the reporting structure will not impact Cargotec’s outlook for 2024 which was updated on 26 June 2024:
Cargotec estimates* 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).
* The business area 2024 profitability outlook is presented using the same principles which are applied in the 2023 external financial reporting.
Read more from the 3 July 2024 release
Cargotec's Capital Markets Day 2024 was held in Helsinki, Finland, on 28–29** May. Around 60 investors and analysts participated in the event, either on site or virtually. Cargotec's President and CEO Casimir Lindholm opened the event, summarising the latest development of Cargotec, including the partial demerger activities at that time.
Hiab's President Scott Phillips presented Hiab's investment highlights, elaborating on the main topics, which include #1 or #2 Position in all segments; Positioned to grow faster than the market; Profitability upside, and Sustainable value creation.
Scott was followed Barry McGrane, SVP, Loader Cranes Light & Medium, Michael Bruninx, SVP, Service, and Magdalena Wojtowicz, SVP, Tail Lifts, who introduced the audience to their respective topics of Outperforming the market by focusing on growth in key segments and North America, Driving scalable service growth and customer engagement, and Unlocking productivity gains through Business Excellence.
CMD presentations and videos are available at the CMD page.
** The CMD second day focused on Kalmar. More information is available from www.kalmarglobal.com.
In connection with the CMD, Cargotec published Hiab's new long term financial targets which are valid for Hiab to measure success by 2028:
1) as a business area of Cargotec
2) as a business area of Cargotec, defined as (Operating profit / Operative capital employed)
In addition to the Hiab-specific long term targets, Cargotec’s climate target to reduce greenhouse gas emissions in all three emission scopes by at least 50 percent by 2030 compared to a 2019 baseline remains valid.
Cargotec also aims for a growing dividend of 30–50 percent of EPS and to keep gearing below 50 percent. Read more about Hiab's financial targets from our 27 May release.
Have a look at the latest VARA consensus estimates from the link below.
In July, Hiab launched HIAB eX.HIPRO crane, featuring cutting edge technological advancements in load handling for energy efficiency, increased productivity and ease of use with minimal environmental impact. The new crane provides unprecedented efficiency with energy savings of up to 30%. The robust construction and superior quality components ensure long-lasting performance, backed by extensive warranties and a wide network of service support.
In June, Cargotec announced that it updates its 2024 outlook due to the completion of the Kalmar demerger. Cargotec estimates* 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).
In June, Hiab launched the WALTCO MDV liftgate series for speedy and hassle-free dock loading and distribution. Combined with intuitive controls for easy operations, the new liftgate series offers several sustainability advantages and safety features.
In June, Hiab announced the launch of MyHiab mobile app to improve operator productivity and safety. The digital companion provides features and content about Hiab equipment throughout its lifecycle. It also establishes a communication channel between Hiab and the end-users.
Cargotec's Annual General Meeting 2024 was held on 30 May 2024 in Helsinki, Finland. The AGM decided in line with the Board's proposals, including the partial demerger of Cargotec and the separate listing of Kalmar. In its organising meeting, the elected Board of Directors elected Ilkka Herlin as the Board Chair.
In May, Cargotec announced that MacGregor has settled the dispute it had related to one and only monopile installation vessel project. The settlement will have an approximately EUR 25 million negative impact on MacGregor’s second quarter 2024 operating profit. The costs will be reported as items affecting comparability as the costs are related to a one of its kind pilot project and the product is no longer in MacGregor’s sales portfolio.
In May, Hiab announced that it expands its spare parts offering so every customer finds a solution tailored to their needs, with the introduction of Red Parts and Exchange Parts to complement Original Parts.
Cargotec hosted its Q2/2024 pre-silent call on 18 June 2024. In this video, Cargotec's CFO Mikko Puolakka answers the most frequent questions received from investors and analysts during the first half of 2024.
During the first half of 2024, road shows and investor conferences took us to Switzerland, France, England, Germany and Sweden, and we have also hosted investor visits and calls at our headquarters in Helsinki, Finland. We are also available for virtual and hybrid meetings and events.
An up-to-date listing of the conferences and events we participate in is available on our IR calendar. Please note though that the schedule is preliminary and subject to change. If you are interested to meet with us, please do not hesitate to contact Heidi at heidi.gustafsson(at)cargotec.
Check our IR blog section for interesting stories about various topics around our industry anc 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.
As our silent period is about to start, we would like to highlight some of the most notable events of the first quarter of 2024. Cargotec’s Interim report January–March 2024 will be published on Tuesday, 30 April 2024, and the silent period starts on Tuesday, 9 April 2024.
Cargotec will disclose the following financial information in 2024:
Cargotec's Financial Statements 2023 and Annual Report 2023 was published on 22 February 2024.
The Annual General Meeting of Cargotec Corporation will be held on Thursday, 30 May 2024.
Notice to Annual General Meeting.
In April 2023, 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. In February 2024, Cargotec's Board of Directors approved a demerger plan concerning the separation of Kalmar into a new listed company.
Also in February, Cargotec announced that, as part of the planned separation of Kalmar by partial demerger, there will be changes in its leadership team:
Cargotec previously announced on 9 November 2023 that Sami Niiranen (M.Sc. Mining) was appointed as President of Kalmar and proposed as the new CEO of the potential standalone Kalmar. As announced on the 1 February 2024 release, on 1 April 2024 Sami Niiranen started as President of Kalmar and joined Cargotec’s Leadership team.
According to the same release, as part of the planned separation of Kalmar, Carina Geber-Teir has transitioned from her role as SVP Communications at Cargotec to assume the position of Head of Investor Relations, Communications and Marketing at Kalmar. From 1 April 2024 onwards Carina has joined Kalmar’s leadership team, and is no longer a member of the Cargotec Leadership Team.
Cargotec’s two-day Capital Markets Day event will take place on 28–29 May 2024 in Helsinki, Finland. On 28 May, the focus is on Cargotec and Hiab while on 29 May, Kalmar will present itself in detail.
More information can be found on our website.
Save the dates on your calendar and register for the event through this link.
Date (booking quarter): 8 April (Q1/24)
Business area: Kalmar
Description: Six Kalmar hybrid straddle carriers
Country/Customer: France/Med Europe Terminal
Value: Not disclosed (large order)
Date (booking quarter): 3 April (Q1/24)
Business area: Hiab
Description: WALTCO tail lifts
Country/Customer: USA/a national discount retailer
Value: Large order of EUR 7 million
Date (booking quarter): 27 March (Q1/24)
Business area: Hiab
Description: Loader cranes to be used in offshore wind turbines
Country/Customer: Not disclosed
Value: Large order of EUR 5 million
Date (booking quarter): 7 March (Q1/24)
Business area: MacGregor
Description: A 100-tonne active heave-compensated (AHC) crane, a 20T Offshore crane and a 3T deck crane, and MacGregor's OnWatch solution, including 24/7 technical service support worldwide
Country/Customer: Norway/VARD
Value: Not disclosed (large order)
Date (booking quarter): 5 March (Q1/24)
Business area: Kalmar
Description: Two new electric AutoStrads™, retrofitting of two existing hybrid straddle carriers
Country/Customer: USA/APM Terminals
Value: Not disclosed (large order)
Date (booking quarter): 21 February (Q1/24)
Business area: Kalmar
Description: Two fully electric and eight hybrid straddle carriers
Country/Customer: The Netherland/Hutchison Ports ECT Rotterdam
Value: Not disclosed (significant order)
In April, Cargotec announced restated financial information for 2023 due to the proposed demerger, and Kalmar business area is presented as discontinued operations. Under IFRS 5, the result from discontinued operations is reported separately from continuing operations’ income and expenses in the consolidated statement of income.
In April, Cargotec announced that the public prosecutor has decided to press charges against Tapio Kolunsarka, a member of the Board of Directors of Cargotec, in a criminal matter concerning certain Ramirent Plc’s disclosures as a listed company. Tapio Kolunsarka acted as the Managing Director of Ramirent Plc during the period referred to in the charges in 2019. According to information received by Cargotec, Tapio Kolunsarka denies any involvement in criminal activity. Cargotec is not a party to the matter. The charges do not affect the work of the Cargotec Board of Directors.
In March, Cargotec announced the Board of Directors had decided on a direct share issue related to the reward payments for share-based incentive programmes. 172,993 own class B shares held by the company were transferred without consideration to the key employees participating in the share-based incentive programmes. After the transfer of shares, Cargotec holds a total of 384,050 own class B shares.
In March, Hiab announced that they have launched a new eco-friendly crane solution – the HIAB wspr. This new line of emission-free, electric-hybrid cranes combine clean operation with a space-saving design.
In March, Kalmar announced that they have signed a joint development agreement for autonomous terminal tractor solutions with Forterra (formerly RRAI). Kalmar will be responsible for developing the automation-ready terminal tractor – including the drive-by-wire solution integration – as well as the Kalmar One fleet management system to manage the operation of automated terminal tractor fleets. Forterra will be responsible for the integration of their AutoDrive platform for autonomous operations for the terminal tractor.
In March, it was also announced that Kalmar was awarded ISO 27001 certification for its Information Security Management System (ISMS). The certification process was completed during 2023 by Cargotec’s Information Security team and the certification was confirmed in December 2023. ISO 27001 is the world's best-known standard for ISMSs and defines requirements that these systems must meet.
In February, 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. Later in March, Cargotec announced that it has completed share repurchases and repurchased 150,000 own class B shares. After the repurchase Cargotec held a total of 557,043 shares including the shares repurchased.
In February, Cargotec announced that it commences written procedures to solicit consents, waivers and decisions to amend the terms and conditions of its senior unsecured notes due 2025 and 2026. In February, it was later announced that the procedures yielded successful results after the approval was secured from a majority of participating noteholders. The consents and waivers became effective immediately upon approval in the written procedures, and the amendments will become effective at the completion of the demerger, expected to take place on 30 June 2024.
Cargotec hosted its Q1/2024 pre-silent call on 8 April 2024. In this video, Cargotec's CFO Mikko Puolakka answers the most frequent questions received from investors and analysts during the first quarter of 2024.
During the first quarter, road shows and investor conferences took us to Switzerland, France, England and Sweden, and we have also hosted investor visits and calls at our headquarters in Helsinki, Finland. We are also available for virtual and hybrid meetings and events.
An up-to-date listing of the conferences and events we participate in is available on our IR calendar. Please note though that the schedule is preliminary and subject to change. If you are interested to meet with us, please do not hesitate to contact Heidi at heidi.gustafsson(at)cargotec.
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.
Have a look at the latest VARA consensus estimates.
The most important events of the Q4 2018 can be found from the below newsletter.
Cargotec Corporation will disclose the following financial information in 2019:
Cargotec published its 2018 Financial review, Annual review, Corporate governance statement, Remuneration statement, and GRI index on 19 February 2019.
| Date (and booking quarter) | Business area | Description | Country/ Customer | Value |
| 17 January (Q4/18) | Kalmar | Complete AutoRTG system which will comprise eight automated rubber-tyred gantry cranes (AutoRTGs) controlled by the Kalmar Terminal Logistic System (TLS) and new-generation remote control (RC) desks | Belfast Container Terminal (BCT) in Northern Ireland | Not disclosed |
| 15 January (Q4/18) | Kalmar | Four rubber-tyred gantry cranes (RTGs) with hybrid drivelines. The order includes the supply of a spare parts package for the machines | Exolgan container terminal, Buenos Aires | Not disclosed |
| 9 January (Q4/18) | MacGregor | Deck machinery destined for heavy-duty naval operations | US Naval Sea Systems Command (NAVSEA) T-ATSX-class vessel | Not disclosed |
| 3 January (Q4/18) | Kalmar | Four Kalmar SmartPower rubber-tyred gantry cranes (RTGs) equipped with a suite of process automation solutions | Norfolk Southern intermodal terminals in USA | Not disclosed |
| 21 December (Q4/18) | MacGregor | Cruise access equipment orders | Three European shipyards | EUR 22 million |
| 19 December (Q4/18) | Kalmar | Six Gloria reachstackers | Sitrans Servicios Integrados de Transportes Limitada (Sitrans), part of the Ultramar Group, Chile | Not disclosed |
| 18 December (Q4/18) | MacGregor | Hatch cover orders for eight 1,800 TEU containerships | Hyundai Mipo Dockyard (HMD) | Not disclosed |
| 17 December (Q4/18) | Kalmar | 41 units of Kalmar TL2 Terminal Tractors | SPT Services Sdn Bhd, Malaysia | Not disclosed |
On 14 December, Cargotec lowered 2018 guidance for operating profit excluding restructuring costs and expects the operating profit excluding restructuring costs for 2018 to be EUR 235-245 million. Earlier, based on the guidance given on 8 February 2018 Cargotec expected the operating profit excluding restructuring costs for 2018 to improve from 2017 (EUR 258.6 million, IFRS 15 restated).
Weaker profitability development in Hiab and MacGregor has resulted in lower than expected operating profit. Continuing bottlenecks in component supply chain and equipment installation capacity have resulted in extended delivery lead times in certain Hiab product categories and weaker than anticipated product mix. The component shortages have lead also to inefficiency and additional costs in assembly operations.
During the fourth quarter, MacGregor received clearances from both German and South Korean competition regulators for the acquisition of the marine and offshore business of TTS. MacGregor is still waiting for the approvals from the authorities in China, and that is why TTS acquisition is expected to close in Q1 2019. MacGregor earlier announced that it expects to receive all the needed approvals by the end of 2018 and to complete the transaction, according to the agreement, as soon as possible thereafter.
On 7 November, Cargotec announced it had issued Schuldschein loans in the amount of EUR 150 million. The transaction included floating and fixed rate tranches with maturities of 5 and 7 years. The Schuldschein loans were targeted to banks and institutional investors, with the proceeds going towards general corporate purposes, including refinancing and acquisitions.
On 21 December, Cargotec announced it had won its appeal in the USA to dispute a USD 13 million verdict of damages. In October 2016, Cargotec received a verdict of damages of USD 13 million in the USA in a local jury trial in Hempstead, USA. The verdict was related to business acquisition negotiations Cargotec USA had in 2010 and 2011. The negotiations were closed without results. The claim was based on Cargotec allegedly having breached confidentiality obligations related to the negotiations.
On 30 October, Cargotec announced MacGregor and China State Shipbuilding Corporation (CSSC) had signed a Letter of Intent (LOI) on strategic cooperation. MacGregor sees that this cooperation will further strengthen its presence in Asia and specifically in China, the world's biggest shipbuilding market. CSSC is a very important partner for MacGregor, as it is the primary shipbuilding group in China and well positioned as a global leader in the industry. The LOI relates to MacGregor's planned acquisition of the marine and offshore businesses of TTS Group and future cooperation potential between the two groups.
During the quarter, Cargotec announced it had made two major investments to support digitalisation and innovation capabilities. On 20 November, Cargotec announced it will invest EUR 32 million in accelerating the development of digital solutions to secure growth of new digital business. As part of the investment, Cargotec will open a new Digital Solutions Hub in Tampere, Finland. On 22 November, Kalmar announced it had officially inaugurated its new Innovation Centre in Ljungby, southern Sweden. Approximately 200 people will be based at the state of the art facility that has been designed to support new collaborative ways of working with modern architecture and cutting edge technology.
On 27 December, Cargotec announced the change of auditor. The Finnish Patent and Registration Office had designated Markku Katajisto, Authorised Public Accountant, as the company's statutory auditor for the financial year 2018, with the role taking effect immediately. Markku Katajisto will replace Tomi Hyryläinen as the company's auditor, as Tomi Hyryläinen has on 20 December 2018 announced his resignation from this position.
After the change, Cargotec's statutory auditors are PricewaterhouseCoopers Oy, Authorised Public Accountants and Markku Katajisto, Authorised Public Accountant.
On 6 November, Hiab announced it had completed the acquisition of Effer S.p.A. from CTE Group. Signing of the transaction was announced on 31 July 2018.
On 19 December, Cargotec announced it will start to repurchase its own shares. Between 20 and 28 December, a total of 160,000 own shares were repurchased. There was also a purchase of 40,000 shares on 2 January 2019. The total price of the purchases was 5,507,796.00 euros. Cargotec Corporation now holds a total of 419,603 shares including the shares repurchased in December and January. Read more details about the repurchase on Cargotec’s Investors webpage.
During the fourth quarter, Cargotec organised an investor event in Singapore in cooperation with KONE and Kemira. Cargotec hosted its part of the two-day event on 31 October, and the programme consisted of presentations given by Peter Cederholm, President of Bromma and Michel van Roozendaal, President of MacGregor. There was also a visit to PSA Singapore, the second largest container port in the world. Read a blog post of the event, watch video recaps or take a look at the material from the event here.
In addition, Cargotec hosted roadshows in Edinburgh, London, New York, and Toronto.
Take a look at the consensus estimates.
Come to meet Scott Phillips, new president of Hiab, on 27 February 2019 in Helsinki.
Take a look at our IR calendar for other upcoming events and roadshows in 2019.
Cargotec organised an investor event in Singapore in October 2018. In the below videos, MacGregor President Michel van Roozendaal as well as Bromma President Peter Cederholm tell about their businesses. The videos have English subtitles.
The third quarter of 2018 is soon coming to its end, and here is a reminder of some highlights of the quarter. Cargotec’s January-September 2018 interim report will be published on Friday, 26 October 2018. The silent period will commence on Friday, 5 October 2018. If you would like to book a call with us before our silent period, please contact Tiina (tiina.aaltonen@cargotec.com).
On 24 September, Cargotec announced its Board of Directors had confirmed the company's refined strategy for 2019-2021. With the business areas, Cargotec will continue to work towards the vision "Becoming the global leader in intelligent cargo handling".
During the current strategy period 2015-2018, the focus has been on leadership, services and digitalisation, and good progress has been made in all three areas. Services and digitalisation will continue to have a key role during the next strategy period, while leadership - still fundamentally important to the company - will now become an integrated part of Cargotec's processes.
In the coming strategy period, the new strategy elements are customer centricity and productivity.
Cargotec Corporation will disclose the following financial information in 2019:
Cargotec’s Financial Statements 2018 and Annual Report 2018 will be available here on week 8.
| Date (and booking quarter) | Business area | Description | Country/ Customer | Value |
| 26 September (Q3/18) | Kalmar | 12 hybrid straddle carriers, including maintenance and operator training as well as six months of on-site maintenance support | DP World Southampton | Not disclosed |
| 26 September (Q3/18) | MacGregor | Complete hatch cover sets and container fixed fittings for eight 1,800 TEU container ships | Hyundai Mipo Dockyard (HMD), in South Korea | Not disclosed |
| 7 September | Kalmar, Navis | Web-based fleet performance solution Bluetracker | Zeaborn Ship Management | Not disclosed |
| 6 September (Q3/18) | Kalmar | Two Kalmar Ship-to-Shore (STS) cranes, including related spare parts | Curaçao Port Services B.V. | Not disclosed |
| 13 August (Q3/18) | Kalmar | Three electrically powered rail-mounted gantry cranes (RMGs) with DCT specific customisation | Deepwater Container Terminal (DCT) Gdansk | Not disclosed |
| 9 August (Q3/18) | Kalmar | 10 new straddle carriers | Hamburger Hafen und Logistik AG (HHLA) | Not disclosed |
On 18 September, Cargotec's Board of Directors confirmed the record date and payment date of the second instalment of the dividend. The second instalment of the dividend, which amounts to EUR 0.52 for each class A shares and EUR 0.52 for each class B shares outstanding, will be paid to shareholders who are registered in the shareholders' register maintained by Euroclear Finland Ltd on the record date 20 September 2018. The payment date was confirmed as 27 September 2018.
On 23 August, Cargotec announced Scott Phillips B.Sc. (Industrial Technology), MBA, (b. 1966, US citizen) had been appointed President of Hiab business area as of 1 October 2018. He will be a member of the Cargotec Executive Board and report to CEO Mika Vehviläinen. Scott Phillips joins Cargotec from General Electric where he holds the position of Vice President and CEO Mining.
Roland Sundén, current President of Hiab, will take up a corporate development role in Cargotec as of 1 October, continuing to report to Mika Vehviläinen and as a member of the Cargotec Executive Board.
On 31 July 2018, Cargotec announced Hiab had entered into an agreement to acquire the Effer loader cranes business from the CTE Group for an enterprise value of EUR 50 million. Effer, founded in 1965, has over 50 years' experience in developing and manufacturing knuckle-boom cranes, with its product range encompassing truck cranes with a 3 to 300 tm lifting capacity, special application truck cranes, and marine cranes. Effer S.p.A. is headquartered in Minerbio, Italy and has approx. 400 employees.
The acquisition is subject to regulatory approvals expected to be received in the second half of 2018. Effer's results will be consolidated into Hiab from the closing date.
On 19 July 2018, Cargotec announced it will start to repurchase its own shares. Between 20 and 26 July, a total of 150,000 own shares were repurchased. Cargotec Corporation now holds a total of 219.603 shares including the shares repurchased in July. Read more details about the repurchase on Cargotec’s Investors webpage.
On 13 September, Hiab introduced the upgraded JONSERED recycling crane range for heavy-duty recycling.
On 10 September, Hiab introduced new, pioneering building material crane models to strengthen its loader crane portfolio.
On 4 September, MacGregor introduced a new breakbulk cargo stowage solution, the Breakbulk Optimiser, which enables operators to rapidly and optimally plan the stowage of many different cargoes, increasing vessel utilisation rates significantly and therefore improving business performance.
During the third quarter, Cargotec attended the SEB Industrial and technology seminar in Stockholm and Credit Suisse Industrial conference in London. Take a look at the material from these events at Cargotec’s webpage.
In addition, we hosted roadshows in Hong Kong, Tokyo, Singapore, and London.
Read our latest IR blog Reflections from Cargotec IR roadshow in Asia - US equities considered "safe investments" by some Asian investors, written by Hanna-Maria Heikkinen, VP, Investor relations.
Cargotec attended Finnish SijoitusSummit 2018 in August. Watch the interview with CFO Mikko Puolakka about Cargotec as an investment (in Finnish). https://sijoitussummit.fi/haastattelut/cargotec-mikko-puolakka
Take a look at the latest consensus estimates.
On 30-31 October, we will organize Finnish Industrial Days together with Kemira and KONE in Singapore.
Site visit to the production facilities of Hiab and Kalmar in Stargard Szczecinski, Poland will be organized during March 2019. More information will follow.
Take a look at our IR calendar for other upcoming events and roadshows.
The second quarter of 2018 is soon coming to its end, and we would like to remind you of some highlights of the quarter. Cargotec’s January-June 2018 half year financial report will be published on Thursday, 19 July 2018. The silent period will commence on Thursday, 28 June 2018. If you would like to book a call with us before our silent period, please contact Milla (milla.parviainen@cargotec.com).
| Date (and booking quarter) | Business area | Description | Country/ Customer | Value |
| 19 June (Q2/18) | Kalmar | Two Kalmar rail-mounted gantry (RMG) cranes with remote control and extensive customisation | Rotterdam Short Sea Terminals (RST) | Not disclosed |
| 8 June (Q2/18) | Kalmar, Navis | State-of-the-art, fully automated intermodal terminal solution. The order includes the supply of the OneTerminal solution comprising Kalmar's automated train handling, automated yard crane and automated horizontal transportation equipment and the Navis N4 terminal operating system (TOS) | Qube's Moorebank Logistics Park (MLP) in south-western Sydney | Approx. EUR 80 million |
| 4 June (Q2/18) | Kalmar | Comprehensive upgrade of one of the terminal's ship-to-shore (STS) cranes | The Bristol Port Company | Not disclosed |
| 24 May (Q2/18) | Kalmar | Fully autonomous equipment, software and services for a unique, fully digitalised container handling solution at Yara's Porsgrunn facility | Yara,Norway | Not disclosed |
On 9 May, Cargotec announced it had signed an agreement with JCE Invest AB to establish a joint venture, Bruks Siwertell Group, specialised in dry bulk handling. The new joint venture will own Siwertell AB (previously part of Kalmar Business Area within Cargotec) and BRUKS Holding AB (previously part of JCE Group). Cargotec will own 48% of the shares in Bruks Siwertell Group, and JCE Invest AB will own the rest, 52%. The transaction was signed and closed on 9 May 2018. In 2017, revenues of Siwertell were SEK 582 million, and revenues of BRUKS were SEK 707 million.
On 24 April, MacGregor and China State Shipbuilding Corporation's (CSSC) Nanjing Luzhou Machine Co., Ltd. (LMC) celebrated the opening of their first joint venture in Nanjing, China on April 10. The joint venture's business model and organisational structure were developed during 2017, and the business license was obtained in March 2018.
On 12 June, Cargotec announced that cargo handling industry increasingly explores cloud-based, collaborative data sharing platforms to provide real-time visibility and connectivity required to improve efficiency and productivity. The study, conducted by Navis and XVELA, was based on a survey of 250 shipping industry executives and professionals from members of the global container supply chain.
On 17 May, Kalmar announced committing to having Kalmar's full offering available as electrically powered versions by 2021. Kalmar is committed to reduce emissions in cargo and material handling operations by fostering eco-efficient technologies. The target is in line with Cargotec's sustainability roadmap announced in 2016.
On 19 June, Kalmar introduced its first application key for Kalmar Key, the terminal industry's only automation platform with open interfaces.
On 12 June, Kalmar introduced an eco-efficient reachstacker with a Fuel Saving Guarantee to customers.
On 14 May, Hiab announced it had launched its renewed HIAB light range loader cranes with a capacity from 4 to 11 tonne meters.
On 2 May, Kalmar introduced an electric version of its popular Kalmar Ottawa T2 terminal tractor to help customers cut emissions and improve productivity.
On 24 April, Kalmar announced it will introduce an automated guided vehicle (AGV) solution, Kalmar FastCharge (TM) AGV, for transporting containers between quayside and landside operations.
On 11 April, Hiab launched the MOFFETT M5 NX Truck mounted forklift. The MOFFETT M5 NX is the ideal machine for medium to heavy-duty tasks, with an efficient power to weight ratio.
Cargotec’s investor relations organised an investor day with MacGregor’s president Michel van Roozendaal and Head of sustainability Karoliina Loikkanen in May. We also attended Kepler Mid Cap Days in Paris, Handelsbanken conference in Stockholm, Oddo Environment Forum for ESG investors in Paris as well as Carnegie ESG seminar in Helsinki. Take a look at the material from these events at Cargotec’s webpage.
In addition, we hosted roadshows in Copenhagen, New York, Chicago, Boston, Milan, and London. In June, a Q&A session with CEO Mika Vehviläinen for sell-side analysts was organised in Helsinki.
Sustainability provides great opportunities for Cargotec - but how exactly? Find it out by reading the IR blog about sustainability.
Read the blog post Journey towards a new MacGregor to understand better MacGregor’s business and future prospects.
The first quarter of 2018 is soon coming to its end, and we would like to remind you of some highlights of the quarter. Cargotec’s January-March 2018 interim report will be published on Tuesday, 24 April 2018. The silent period commenced on Tuesday, 3 April 2018.
|
Date |
Business area |
Description |
Country / customer |
Value |
|
MacGregor |
Upgrading and optimising the container stowage systems on board seven Hapag-Lloyd C-class (Samsung 9,300 TEU series) container vessels |
Hapag-Lloyd |
Not disclosed |
|
|
Kalmar |
Total of five electrically powered rubber-tyred gantry cranes (RTGs) with extensive customisation, including also the supply of a spare parts package for the machines |
Poland |
Not disclosed |
|
|
Kalmar, Navis |
Subscription agreement with Cosco Shipping Ports Ltd. (CSP) for the Navis N4 terminal operating system (TOS) |
- |
Not disclosed |
The Annual General Meeting 2018 was arranged on 20 March in Helsinki. The AGM approved a dividend of EUR 1.04 be paid for each of class A shares and a dividend of EUR 1.05 be paid for each of class B shares outstanding. The dividend shall be paid in two instalments, in March and September 2018. All current 10 board members were re-elected to the Board of Directors.
Read the decisions taken in the Annual General Meeting here.
The presentation given by Cargotec’s CEO Mika Vehviläinen can be viewed here. Here is a link to video recording of CEO presentation (in Finnish). English version will be published by latest next week.
On 20 February, Cargotec published its 2017 annual report and financial statements. You can read the reports on Cargotec’s Investors website.
On 8 February, MacGregor announced the acquisition of marine and offshore business from TTS Group for an enterprise value of EUR 87 million. Based on preliminary estimates, potential cost synergies are estimated to be around EUR 30-35 million on annual level and are expected to be reached within 3 years from closing. You can access a presentation about TTS acquisition here.
On 8 February, Cargotec’s Board of Directors resolved on incentive programme’s performance criteria for the share-based incentive programme for the year 2018.
On 5 February, MacGregor announced it had completed the acquisition of Rapp Marine Group (RMG) to strengthen its offering for the fishery and research vessel segment. MacGregor announced to acquire Rapp Marine in December 2017 for an enterprise value of approximately EUR 16 million.
On 30 January, Cargotec opened its new global Cargotec Business Service (CBS) centre in Sofia, the capital of Bulgaria. The aim with CBS is to build more streamlined common business services to improve efficiency, economies of scale and visibility. CBS will also enable the business areas more free time and resources to focus more on growth and innovation.
On 12 January, Cargotec announced it had defined its sustainability targets for 2018. Cargotec's focus in 2018 will be on increasing safety awareness, setting a new sustainability standard for the supply chain, increasing the usage of renewable electricity, and ensuring that human rights-related company practices and processes are at the correct level.
Cargotec’s investor relations attended SEB conference in Copenhagen and Carnegie Capital Goods Conference in Stockholm.
In addition, we hosted roadshows in London, Genova, Oslo, and Frankfurt. CEO breakfast for sell-side analysts was also organised in London. We also hosted an event for Finnish financial bloggers in Helsinki.
Have you already read the IR blog posting: Cargotec - one of Finland’s largest publicly listed software companies?
IR-podcasts, events in an audio format.
Take a look at the latest consensus estimates.
We will host an event with MacGregor’s management on 21 May in Helsinki. Furthermore, the site visit to the production facilities of Hiab and Kalmar in Stargard Szczecinski, Poland will be organized during autumn. More information and registration will follow soon.
Mark your calendar already: In 30-31 October, we will organize Finnish Industrial Days together with Kemira and KONE in Singapore.
Take a look at our IR calendar for other upcoming events and roadshows.
