Interim report January–September 2020Was published 22 October 2020
This section contains Cargotec's IR newsletters, mainly published quarterly before the three-week silent period. You can find the most recent letter below.
The third quarter of 2020 is soon ending, and we would like to remind you of some of the quarter's most important events. Cargotec’s January–September 2020 interim report will be published on Thursday, 22 October 2020, and the silent period will commence on Thursday, 1 October 2020. If you would like to book a call with us before our silent period, please contact Tiina (email@example.com).
Cargotec Corporation will disclose the following financial information in 2020:
|Date (and booking quarter)||Business area||Description||Country/ Customer||Value|
|14 September (Q3/2020)||MacGregor||two new orders, one for two RoPAX ferries and another for a group of linkspans||Asia (RoPAX), Scandinavia (linkspans)||EUR 13 million|
|3 September (Q3/2020)||Kalmar||Three Kalmar rubber-tyred gantry (RTG) cranes||Morocco/Marsa Maroc||Not disclosed|
|1 September (Q3/20)||Kalmar||20 Kalmar Hybrid Shuttle Carriers||USA/The Port of Virginia||Not disclosed|
|28 August (Q3/20)||Kalmar||Four SmartPower Rubber-Tyred Gantry (RTG) Cranes||Cambodia/Phnom Penh Autonomous Port (PPAP)||Not disclosed|
|27 August (Q3/20)||MacGregor||A significant order, the largest single vessel contract secured to date by MacGregor, for delivery of the mission-critical system to be installed on the OHT offshore wind foundation installation vessel, Alfa Lift||OHT||Not disclosed|
|13 August (Q3/20)||MacGregor||Two orders to provide full hardware supply including ramps and lifting platforms for two RoPax vessels and two material supply vessels||Japan||EUR 18 million|
|23 July (Q3/20)||Kalmar||Two Zero Emission rubber-tyred gantry cranes (RTGs) and Kalmar SmartPort solutions (part of Kalmar One automation system)||Turkey/Safi Derince International Port||Not disclosed|
On 1 October, we announced that Cargotec's and Konecranes's respective Boards of Directors have on that day signed a combination agreement and a merger plan to combine the two companies through a merger.
Also on 1 October, we announced that Cargotec has decided to continue to evaluate strategic alternatives for its Navis business to identify the best options to support future development of Navis.
On 15 September, we announced that our third quarter 2020 would be better than expected. We estimate that orders received and comparable operating profit are to increase compared to the second quarter 2020.
On 25 August, we announced that Cargotec's Board of Directors has decided on the second instalment of the dividend based on the authorisation granted to the Board by the Annual General Meeting. The second instalment of the dividend distribution is a dividend of EUR 0.60 for each of class A shares and a dividend of EUR 0.60 for each of class B shares outstanding. The second instalment payment date was 3 September 2020.
Cargotec has set ambitious science-based greenhouse gas emission reduction targets to address the impacts of both its own operations and the chain. In May, we announced our commitment to the United Nations Global Compact’s Business Ambition for 1.5°C to pursue science-based measures to limit global temperature rise to 1.5°C. In August, the targets were approved by the Science Based Targets initiative.
On 15 September, we held a virtual analyst call with 15 analysts participating over the web. In the call, Cargotec's CEO Mika Vehviläinen discussed Cargotec's 15 September announcement, business development and financial position, and answered the participants' questions, among others.
During the Q3, our investor meetings have been virtual meetings where we have convened online and shared material virtually. Even though we miss meeting you in person and having informal discussions on the road, according to your feedback and participation the virtual meetings have worked well, and we thank you for your support and cooperation.
While the coronavirus situation prevails, we continue with high safety standards, following the regulatory travel and social restrictions. Depending on the development of pandemia and safety requirements in Q4, we can also consider opportunities to host even face-to-face meetings in Helsinki, Finland.
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.
Take a look at the latest Vara consensus estimates.
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 (firstname.lastname@example.org).
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.