Pressmeddelanden, rapporter och bolagsmeddelande för Cargotec Oyj

Cargotec Corporation held its Annual General Meeting on May 30, 2024, in Helsinki, Finland. Key decisions included approving a dividend distribution of EUR 2.14 per class A share and EUR 2.15 per class B share, with payments scheduled for June 10, 2024. The financial statements and remuneration policies for 2023 were adopted, and discharge from liability was granted to the Board and CEO. The Board will consist of seven members, with several re-elections and new appointments. Board remuneration was confirmed, with half paid in shares. Ernst & Young Oy was re-elected as the auditor. The meeting also authorized the Board to repurchase shares and issue new shares, options, and other rights. A partial demerger of Cargotec was approved, leading to the incorporation of Kalmar Corporation with its own Board and remuneration policies. The share capital of Cargotec was reduced from EUR 64,304,880 to EUR 20,000,000. The company’s 2023 sales were approximately EUR 4.6 billion, and it employs around 11,300 people.

Cargotec Corporation announced that MacGregor has settled a dispute with a monopile installation vessel customer, which will negatively impact MacGregor's second-quarter 2024 operating profit by approximately EUR 25 million. This cost will be reported as a non-comparable item due to its unique nature. Despite this, Cargotec's outlook for MacGregor's comparable operating profit in 2024 remains positive, with an expected improvement from 2023. MacGregor has decided to cease offering the monopile installation solution and will not undertake new pilot projects until technical challenges are resolved. This decision is part of a broader restructuring effort to improve the offshore business. With the dispute settled, Cargotec has initiated the sale process of MacGregor, as previously decided by the Board of Directors. MacGregor's core merchant and services businesses are performing well, although the offshore segment has faced challenges. The company aims to finalize several smaller loss-making offshore projects mainly in 2024. Cargotec's overall sales in 2023 were approximately EUR 4.6 billion.

Cargotec Corporation has announced new long-term financial targets for its Hiab business area and shared details on the planned management for Hiab as a standalone company. This announcement is in preparation for the Capital Markets Day on May 28, 2024. Cargotec is undergoing a structural change to separate into three distinct businesses: Kalmar, Hiab, and MacGregor. Kalmar is set to become a separate listed company by July 1, 2024, and a solution for MacGregor is expected within the year. Consequently, Hiab will operate as an independent entity. New financial targets for Hiab and Kalmar have been established, with Kalmar's targets already published. Hiab aims to achieve significant financial performance by 2028 and maintain a climate target of reducing greenhouse gas emissions by 50% by 2030. Cargotec also plans to propose a name change to Hiab and appoint Scott Phillips as the President and CEO, with Mikko Puolakka as CFO. Further details will be provided during the Capital Markets Day event.

The Finnish Financial Supervisory Authority has approved the prospectus for the partial demerger of Cargotec and the listing of Kalmar Cargotec Corporation. The original stock exchange release contained an erroneous key figure, which has been corrected. The demerger plan was announced on 1 February 2024, with all assets, debts, and liabilities related to the Kalmar business area to be transferred to Kalmar Corporation. The completion of the demerger is subject to approval by the Annual General Meeting of Cargotec on 30 May 2024 and is expected to be registered in the Finnish Trade Register by 30 June 2024. Trading in Kalmar's class B shares on the Nasdaq Helsinki is expected to begin on 1 July 2024.

The Finnish Financial Supervisory Authority has approved the partial demerger of Cargotec and the listing of Kalmar Cargotec Corporation. The demerger plan involves the transfer of all assets, debts, and liabilities of Cargotec related to the Kalmar business area to Kalmar Corporation. The Board of Directors of Cargotec has proposed that the Annual General Meeting (AGM) of Cargotec to be held on 30 May 2024 would approve the Demerger Plan. The completion of the Demerger is expected to be registered in the Finnish Trade Register on or about 30 June 2024, and trading in Kalmar’s class B shares on the official list of Nasdaq Helsinki is expected to begin on 1 July 2024. The demerger and listing prospectus prepared by Cargotec on behalf of Kalmar has been approved by the Finnish Financial Supervisory Authority.

Cargotec Corporation has restated its 2023 financial information to present its Kalmar business area as a discontinued operation due to a proposed demerger. The Board of Directors of Cargotec approved the demerger plan on 1 February 2024, with the completion date set for 30 June 2024, subject to approval at the Annual General Meeting. Major shareholders who hold around 41% of the shares and 75% of the votes have indicated their support for the demerger. The restated financial information includes revenue and operating expenses directly related to the Kalmar business area, and other income and costs related to continuing operations not expected to continue after the demerger. The financial information does not reflect the past or future profitability of either business on a standalone basis before or after the demerger. The restated financial information is unaudited.

On April 2, 2024, Cargotec Corporation announced that Scott Phillips, a senior manager, received a share-based incentive. The transaction, which took place on March 28, 2024, involved 14,922 shares at a unit price of 0.00 EUR. This initial notification does not specify a venue. Cargotec Corporation, listed on Nasdaq Helsinki, is a leader in cargo handling solutions and services, with business areas including Kalmar, Hiab, and MacGregor. The company, which supports the United Nations Global Compact Business Ambition for 1.5°C, reported sales of approximately EUR 4.6 billion in 2023 and employs around 11,400 people.

On April 2, 2024, a notification was released regarding Leif Byström, a senior manager at Cargotec Corporation, receiving a share-based incentive. The transaction, which took place on March 28, 2024, involved 882 shares with a unit price of 0.00 EUR. The notification does not specify a venue for the transaction. Cargotec Corporation, listed on Nasdaq Helsinki, provides cargo handling solutions and services. The company reported sales of approximately EUR 4.6 billion in 2023 and employs around 11,400 people.

On April 2, 2024, Cargotec Corporation announced a transaction involving its Chief Financial Officer, Mikko Puolakka. Puolakka received a share-based incentive, acquiring 8561 shares at a unit price of 0.00 EUR. The transaction took place on March 28, 2024. Cargotec Corporation, listed on Nasdaq Helsinki, specializes in cargo handling solutions and services. The company's sales in 2023 amounted to around EUR 4.6 billion and it employs approximately 11,400 people.

On 2nd April 2024, Cargotec Corporation announced a transaction involving its senior manager, Soili Mäkinen. Mäkinen received 5111 shares as part of a share-based incentive, with a unit price of 0.00 EUR. The company, listed on Nasdaq Helsinki, specializes in cargo handling solutions and services, and employs around 11,400 people. In 2023, it reported sales of approximately EUR 4.6 billion.