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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.
The fourth quarter of 2019 is coming to its end, and we would like to remind you of the most important events of the quarter. Cargotec’s financial statements review 2019 will be published on Thursday,6 February 2020.
Cargotec’s Financial Statements review 2019 will be published on Thursday, 6 February 2020 at approximately 9:00 AM EET.
| Date (and booking quarter) | Business area | Description | Country/ Customer | Value |
| 23 December (Q4/19) | Kalmar | 4 Kalmar Zero Emission rubber-tyred gantry cranes (RTGs), 1 reachstacker, 1 empty container handler, 2 forklift trucks | Mauritania/ARISE Mauritania | Not disclosed |
| 2 December (Q4/19) | Kalmar | Six diesel-electric straddle carriers | Finland/Steveco | Not disclosed |
| 29 November (Q4/19) | MacGregor | MacGregor equipment and TTS products | Europe/Not disclosed | Not disclosed |
| 24 October (Q4/19) | Kalmar | Six Kalmar Zero Emission rubber-tyred gantry (RTG) cranes and Kalmar SmartPort solutions, part of the Kalmar One automation system | Turkey/Asyaport | Not disclosed |
On 8 October, Cargotec announced the appointment of Aki Vesikallio as Investor Relations Director to Cargotec's IR team. Aki joined Cargotec from Outokumpu, where he worked as Investor Relations Manager. "Aki has solid experience from both investor relations and the banking sector, and we are excited to have him strengthen our team," says Hanna-Maria Heikkinen, VP, Investor Relations, Cargotec.
On 1 October, Cargotec's Board of Directors confirmed the record date and payment date of the second instalment of the dividend. The payment date was 10 October 2019. Cargotec Corporation's Annual General Meeting approved on 19 March 2019 a dividend of EUR 1.09 be paid for each of class A shares and a dividend of EUR 1.10 be paid for each of class B shares outstanding. The dividend was paid in two instalments, in March and October 2019.
During Q4 2019, Cargotec's Investor Relations held roadshows in Europe (Frankfurt, London), and in the US (New York, Boston and Chicago). We also held a presentation in the Danske Winter Seminar in Copenhagen, Denmark.
Visit the IR calendar section on the Cargotec website for more information about upcoming and past events.
Cargotec maintains a list with all mergers and acquisitions as well as divestments on the investor webpage - take a look at it here.
Cargotec’s investor relations offers a podcast channel in Finnish and English, listen to it here. Both Finnish and English podcasts are also available on iTunes.
In recent Cargotec IR blog entries, VP IR Hanna-Maria Heikkinen writes about how companies can talk about sustainability so that it resonates better with investors, while IR Director Aki Vesikallio shares his first experiences on how to understand Cargotec as an investment case.
Outlook for 2019, as stated in the January-September 2019 interim report:
Cargotec reiterates its outlook published on 8 February 2019 and expects its comparable operating profit for 2019 to improve from 2018 (EUR 242.1 million).
Take a look at the latest Vara consensus estimates.
On 26 February 2020, we arrange an event in Helsinki, Finland, where Stefan Lampa, President of Kalmar Mobile Solutions, will give an update on the mobile solutions business. Please contact Tiina (tiina.aaltonen@cargotec.com) if you are interested to participate in the event.
Take a look at our IR calendar for other upcoming events and roadshows in 2019.
The third quarter of 2019 is coming to its end, and we would like to remind you of the most important events of the quarter. Cargotec’s Q3 2019 interim report will be published on Tuesday, 22 October 2019. The silent period will commence on Tuesday 1 October 2019. If you would like to book a call with us before our silent period, please contact Tiina (tiina.aaltonen@cargotec.com).
The publication date for the Interim report January–September 2019 is Tuesday, 22 October 2019.
| Date (and booking quarter) | Business area | Description | Country/ Customer | Value |
| 29 August (Q2/19) | Kalmar | 15 rubber-tyred gantry cranes (RTGs) with 24 months on-site maintenance support | India/Nhava Sheva International Container Terminal | Not disclosed |
| 20 August (Q3/19) | Kalmar | Upgrade four ZPMC ship-to-shore (STS) cranes | Morocco/EUROGATE Tanger | Not disclosed |
| 13 August (Q3/19) | Kalmar | Preventive and corrective maintenance services to customer's Las Palmas container terminal | Spain/Operaciones Portuarias Canarias S.A. (OPCSA) | Not disclosed |
| 18 July (Q3/19) | Hiab | Truck mounted forklifts with service contracts | USA/not disclosed | MEUR 29 |
On 13 September, Cargotec announced that it issues two senior unsecured bonds in the total aggregate nominal amount of EUR 250 million. The first approximately 5.5-year bond in the nominal amount of EUR 100 million matures on 23 January 2025 and it carries a fixed annual interest of 1.250 per cent. The other, 7-year bond in the nominal amount of EUR 150 million matures on 23 September 2026 and it carries a fixed annual interest of 1.625 per cent.
On 31 July, Cargotec’s MacGregor business area announced to have completed the acquisition of the marine and offshore businesses of TTS Group ASA. Cargotec announced in February 2018 an agreement to acquire the businesses for an enterprise value of approximately EUR 87 million. Completion of the acquisition follows receipt of required approvals from the relevant countries and authorities. The acquired businesses will be integrated within MacGregor's operating structure, and their results will be consolidated into MacGregor's financial figures as of 1 August 2019. Based on preliminary estimates, approximately 30 percent of TTS sales are related to TTS companies where the Group's ownership is 50 percent. Cargotec plans to consolidate these companies using the equity method, whereby 50 percent of the companies' net profit will be presented as a separate row in Cargotec's financial statements before EBIT. This means that sales income from these companies will not be consolidated into Cargotec's sales.
On 4 September, Cargotec IR organised a site visit for analysts and investors to Hiab’s and Kalmar’s sites in Stargard, Poland, where their main assembly units are located. The visit involved presentations given by the local managers, Q&A sessions and a field tour of the assembly facilities. Read a blog post of the event, or take a look at the presentation materials (Kalmar, Hiab) of the event.
In addition, Cargotec hosted roadshows in Helsinki, Stockholm, London, and Paris.
Cargotec maintains a list with all mergers and acquisitions as well as divestments on the investor webpage - take a look at it here.
For the Finnish audience, Cargotec’s investor relations has started a podcast channel. Listen on Soundcloud the latest Finnish episode. You can also find quarterly webcasts in English there. Both Finnish and English podcasts are also available on iTunes.
Take a look at the latest Vara consensus estimates.
Cargotec will participate in the Finnish Industrial Days in China together with Kone, Wärtsilä and Kemira and organise a site visit in Shanghai on 25 September.
Take a look at our IR calendar for other upcoming events and roadshows in 2019.
The second quarter of 2019 is coming to its end, and we would like to remind you of the most important events of the quarter. Cargotec’s Q2 2019 interim report will be published on Thursday, 18 July 2019. The silent period will commence on Thursday, 27 June 2019. If you would like to book a call with us before our silent period, please contact Tiina (tiina.aaltonen@cargotec.com).
The publication date for the Interim report January–September 2019 is Tuesday, 22 October 2019.
| Date (and booking quarter) | Business area | Description | Country/ Customer | Value |
| 27 May (Q2/19) | MacGregor | Port equipment and RoPax ferry conversions |
Scandinavia/not disclosed |
MEUR 10 |
| 13 May (Q2/19) | Kalmar | Two AutoRTG cranes |
Ireland/Dublin Ferryport Terminals |
Not disclosed |
| 30 April (Q2/19) | Kalmar | 32 diesel-electric straddle carriers |
Italy/Medcenter Container Terminal (MCT) |
Not disclosed |
On 13 June, Navis, a part of Cargotec, announced the signing of a partnership agreement with the equipment manufacturer Shanghai Zhenhua Heavy Industry Co., Ltd. (ZPMC), to jointly address opportunities for Navis to supply its software and services and ZPMC to provide its products and services and act as a system integrator. The agreement represents an important step for both parties to combine forces in an integrated approach to solve critical needs for improved performance, optimisation and automation in terminal operations.
On 3 June, Cargotec confirmed that the National Bureau of Investigation in Finland has initiated a preliminary investigation about a suspected aggravated fraud in connection with its MacGregor business area. The National Bureau of Investigation issued a statement about the case earlier on the same day (in Finnish only). Cargotec detected the suspected financial fraud during an internal review and made an investigation request to the Finnish authorities. The suspected misconduct does not have an impact on Cargotec's financial result.
On 14 May, Cargotec announced that it will cooperate with seven startups to solve maritime industry inefficiencies. Cargotec will continue joint projects with seven startups as an outcome of the Rainmaking Trade & Transport Impact Programme, a leading maritime startup collaboration platform. The intention of the programme is to address the largest challenges in maritime, cargo transport and logistics.
On 25 April, Cargotec announced that it simplifies its leadership structure and combines its Executive Board and Extended Executive Board to form a new Cargotec Leadership Team. The Leadership Team consists of former Executive Board members Mika Vehviläinen, CEO, Mikko Puolakka, Executive Vice President, CFO, Stefan Lampa, President, Kalmar Mobile Solutions, Antti Kaunonen, President, Kalmar Automation Solutions, Scott Phillips, President, Hiab, Michel van Roozendaal, President, MacGregor, Mikael Laine, Senior Vice President, Strategy, Soili Mäkinen, CIO, Mikko Pelkonen, Senior Vice President, Human Resources, and former Extended Executive Board members Outi Aaltonen, Senior Vice President, General Counsel, and Carina Geber-Teir, Senior Vice President, Communications. The Leadership Team members report to Cargotec's CEO.
During the second quarter, Cargotec organised a Service Day for investors and analysts in Helsinki on 11 June. The event included presentations by the service business heads from Cargotec’s three business areas Kalmar, Hiab and MacGregor. Read a blog post of the event, watch a video interview of the presentors, or take a look at the presentation materials of the event.
In addition, Cargotec hosted roadshows in New York, Chicago, London, Barcelona and Milan as well as participated in the Handelsbanken Small/ Midcap Seminar in Stockholm
Cargotec maintains a list with all mergers and acquisitions as well as divestments on the investor webpage - take a look at it here.
For the Finnish audience, Cargotec’s investor relations also started a podcast channel. Listen to the first episode on Soundcloud or on iTunes.
Take a look at the latest Vara consensus estimates.
On 4 September, Cargotec’s investor relations will organise a site visit to Hiab and Kalmar assembly site in Stargard Szczecinski, Poland.
Cargotec will participate in the Finnish Industrial Days in China together with Kone, Wärtsilä and Kemira and organise a site visit in Shanghai on 25 September.
Take a look at our IR calendar for other upcoming events and roadshows in 2019.
The first quarter of 2019 has come to its end, and we would like to remind you of the most important events of the quarter. Cargotec’s Q1 2019 interim report will be published on Thursday, 25 April 2019. The silent period will commence on Thursday, 4 April 2019. If you would like to book a call with us before our silent period, please contact Tiina (tiina.aaltonen@cargotec.com).
The publication dates for the 2019 half year financial report and Q3/19 interim report:
| Date (and booking quarter) | Business area | Description | Country/ Customer | Value |
| 28 March (Q1/19) | MacGregor |
Linkspans, cruise access equipment and RoRo solutions |
Europe and Japan /pure car truck carriers (PCTC) | Ca. MEUR 19 |
| 26 March (Q1/19) | MacGregor | On-vessel mooring systems |
China/China National Offshore Oil Corporation | Not disclosed |
| 8 March (Q1/19) | MacGregor | Port, cruise access and equipment for roro/passenger (RoPax) ferries | Europe, China | Ca. MEUR 22 |
| 6 March (Q1/19) | Kalmar | 63 hybrid straddle carriers | France, Belgium, UK/DP World | Not disclosed |
| 11 February (Q1/19) | Kalmar | Six zero emission RTGs | USA/South Florida Container Terminal, LLC | Not disclosed |
On 25 March, Cargotec announced that due to a longer than expected regulatory process in China, the company currently expects the closing of the TTS Group ASA transaction to take place in Q2 2019. The acquisition is subject to regulatory approvals from the competition authorities in Germany, South Korea and China. MacGregor announced the approval from the German regulator on 6 November 2018 and the approval from the South Korean regulator on 27 December 2018.
Cargotec’s Annual General Meeting (AGM) was held on Tuesday, 19 March 2019 in Helsinki. The decisions taken at the AGM are available here. In his review, CEO Mika Vehviläinen concentrated on the financial results in 2018, strategy development, sustainability as a future growth driver, and on 2019 outlook. In addition, Cargotec's investments in the development of operations as well as progress in M&A was presented. All of the AGM materials, including a video recording of the CEO presentation with English subtitles is available here.
On 7 March, Cargotec announced that it enhances Kalmar's growth opportunities by reorganising its businesses and appointing Stefan Lampa as President of Kalmar Mobile Solutions. Cargotec reorganises Kalmar into three strategic business units (SBU); Kalmar Mobile Solutions, Kalmar Automation Solutions and Navis as of April 1, 2019. Cargotec's financial reporting structure based on three business areas Kalmar, Hiab and MacGregor, will remain unchanged.
On 19 February, Cargotec Cargotec published its 2018 annual report and financial statements. The documents, together with the 2018 Corporate Governance Statement, Remuneration Statement as well as the GRI index are available here.
During the first quarter, Cargotec organised a Hiab investor breakfast in Helsinki on 21 March. The event included presentations by Hiab’s new president since October 2018, Scott Phillips, together with Hiab’s CFO Simon Greaves and Jan-Erik Lindfors who is in charge of Hiab’s new business solutions. Read a blog post of the event, watch Scott’s video interview or take a look at the presentation materials of the event.
In addition, Cargotec hosted roadshows in London, Amsterdam, Frankfurt and Milan as well as participated in the Carnegie Capital Goods Conference in Stockholm and the OP Seminar in Helsinki.
Cargotec maintains a list with all mergers and acquisitions as well as divestments on the investor webpage - take a look at it here.
Watch a short video interview where Hiab’s newly appointed President Scott Phillips tells about his first impressions about the company.
For the Finnish audience, Cargotec’s investor relations also started a podcast channel. Listen to the first episode on Soundcloud or on iTunes.
Take a look at the latest Vara consensus estimates.
On 11 June, Cargotec’s investor relations will organise a Service Day in Helsinki. The service business heads from Kalmar, Hiab and MacGregor will be presenting.
On 4 September, Cargotec’s investor relations will organise a site visit to Hiab and Kalmar assembly site in Stargard Szczecinski, Poland.
Cargotec will participate in the Finnish Industrial Days in China together with Kone, Wärtsilä and Kemira and organise a site visit in Shanghai on 25 September.
Take a look at our IR calendar for other upcoming events and roadshows in 2019.
