Cargotec Oyj

Ticker/ISIN
CGCBV
FI0009013429
Marknad/Land
Main Market, Helsinki
Sweden

Om Cargotec Oyj

Cargotec is a provider of cargo handling solutions whose products are used in materials handling hubs such as local transportation, terminals, ports, distribution centres and ships. Cargotec has three business areas: * Hiab - supplies on-road load-handling solutions.* Kalmar - provides solutions for container, trailer and other heavy material handling. * MacGREGOR - focuses on the design, delivery and servicing of marine cargo flow solutions. Cargotec's main customers include truck owner-operators, transportation companies, distribution centres, logistics companies, terminals, port operators, shipyards, ship owners, ship operators as well as heavy industry and defence industry.

Senaste sammanfattade pressmeddelande från Cargotec Oyj

Cargotec Corporation will release its 2024 financial statements review on Wednesday, February 12, 2025, at around 9:00 a.m. EET. The report will be accessible on their website after publication. A live international telephone conference for analysts, investors, and media will occur at 10:00 a.m. EET on the same day, conducted in English. Presentations will be given by Cargotec's President and CEO Casimir Lindholm, CFO Mikko Puolakka, and Hiab President Scott Phillips. Presentation materials will be available online by 9:30 a.m. EET. Interested participants can join the teleconference by registering online, after which conference details will be provided. The event will also be streamed live online and recorded for later viewing. Participation in the conference call requires consent to the collection of personal information. For more details, contact Oscar Törnwall, IR Manager. Cargotec's Hiab business specializes in smart and sustainable load-handling solutions and reported sales of approximately EUR 1.8 billion in 2023, employing over 4,000 people.
Cargotec Corporation has announced that its MacGregor business area will be reported as discontinued operations following a sales agreement expected to close by July 1, 2025. This change will be reflected from the fourth quarter of 2024. Additionally, the Kalmar business area, due to a partial demerger, is also reported as discontinued operations. Cargotec's financial information for 2023 and the first three quarters of 2024 has been restated to reflect these changes. The company will update its segment reporting, removing the MacGregor segment and planning to introduce Equipment and Services segments from the first quarter of 2025. Hiab remains the only reporting segment in the 2024 financial statements. The restated financial information is unaudited, and further reclassified information will be published later. Cargotec's continuing operations sales in 2023 were approximately EUR 1.8 billion, employing over 4,000 people.
Cargotec Corporation issued a correction to its previous stock exchange release regarding its financial information for 2025. The initial release had an incorrect date for the company's Annual General Meeting. The corrected information states that Cargotec will publish its 2024 Financial Statements and Annual Report in week 9 of 2025 on its website. The Annual General Meeting is scheduled for 26 March 2025. Shareholders wishing to propose agenda items for the meeting must notify the Board of Directors by 13 January 2025. Cargotec, listed on Nasdaq Helsinki as CGCBV, operates businesses Hiab and MacGregor, focusing on smart and sustainable cargo handling solutions. In 2023, Cargotec's sales were approximately EUR 2.5 billion, and it employed over 6,000 people. For more information, Aki Vesikallio, Vice President of Investor Relations, can be contacted.
Cargotec Corporation's Board of Directors has approved new share-based incentive programs for its management and key employees. These include a Performance Share Programme (PSP) and a Restricted Share Programme (RSP). The PSP covers the years 2025–2027, with rewards based on earnings per share to be paid in 2028, targeting about 70 key employees with a maximum of 90,000 class B shares. The RSP is a retention tool for specific employees, also covering 2025–2027, with a maximum of 10,000 class B shares rewarded in 2028. Both programs include a cash portion to cover taxes. Cargotec's businesses, Hiab and MacGregor, focus on smart and sustainable cargo handling solutions. In 2023, Cargotec's sales were approximately EUR 2.5 billion, employing over 6,000 people.
Cargotec Corporation has announced its schedule for releasing financial information in 2025. The company will publish its Financial Statements and Annual Report for 2024 on its website during week 9. The Annual General Meeting is set for March 26, 2025, and shareholders wishing to propose agenda items must contact the Board by January 13, 2025. Cargotec, listed on Nasdaq Helsinki under the ticker CGCBV, operates through its Hiab and MacGregor businesses, which focus on smart and sustainable cargo handling solutions. In 2023, Cargotec reported sales of approximately EUR 2.5 billion and employs over 6,000 people. For more information, Aki Vesikallio, Vice President of Investor Relations, can be contacted.
Cargotec Corporation has agreed to sell its MacGregor business to Triton-managed funds for EUR 480 million to support the growth of its Hiab division. This transaction is part of Cargotec's strategic transformation to establish Hiab as a standalone entity, expected by April 2025. Following the sale, Cargotec plans to change its name to Hiab and appoint Scott Phillips as CEO, while current CEO Casimir Lindholm will step down. The sale is anticipated to close by July 2025, pending regulatory approvals. Cargotec will record a EUR 200 million tax-exempt loss due to the transaction, with additional separation costs of EUR 25 million. The proceeds will also fund Hiab’s growth and potentially pay extra dividends. The transaction aligns with Cargotec's strategy to enhance shareholder value by separating its business units. MacGregor will be reported as discontinued operations from Q4 2024, and Cargotec's financial outlook remains unaffected.
Cargotec Corporation reported stable financial results for the seventh consecutive quarter in its interim report for January to September 2024. The company witnessed an increase in orders received in the third quarter, with a total of EUR 597 million, and sales amounting to EUR 590 million. The comparable operating profit rose by 14% to EUR 70 million, representing 11.8% of sales. Cargotec has updated its reporting structure following a partial demerger, now focusing on two segments: Hiab and MacGregor. Hiab's orders increased by 16%, although sales decreased by 8% to EUR 388 million. Hiab's profitability remained strong with a comparable operating profit of EUR 59 million. MacGregor saw a 12% increase in orders and a 13% rise in sales, with a comparable operating profit of EUR 20 million. Cargotec revised its 2024 outlook, estimating Hiab’s operating profit margin to exceed 14.0% and MacGregor’s profit to surpass EUR 65 million. The company is progressing in selling MacGregor and preparing Hiab for a standalone future. A telephone conference for analysts and media was scheduled to discuss the report.
Cargotec Corporation announced the completion of its share repurchase program, initially declared on August 7, 2024. Between August 9 and September 27, 2024, the company repurchased 400,000 shares at an average price of 46.6784 EUR. The repurchases were authorized by the Annual General Meeting on May 30, 2024, and the shares will be used for the company's share-based incentive programs. Cargotec now holds a total of 784,050 shares. For more information, contact Mikko Puolakka, Executive Vice President and CFO, or Aki Vesikallio, Vice President of Investor Relations. Cargotec’s businesses, Hiab and MacGregor, focus on smart cargo handling solutions. In 2023, Cargotec's sales were approximately EUR 2.5 billion, and the company employs over 6,000 people.

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Förändringar i återköpta aktier: CARGOTEC CORPORATION: SHARE REPURCHASE 9.8.2024

For more information, please contact Aki Vesikallio, Vice President, Investor Relations, at +358 40 729 1670. Cargotec’s businesses, Hiab and MacGregor, provide advanced cargo handling solutions and services. Hiab specializes in on-road load-handling solutions, while MacGregor focuses on maritime cargo and load handling. In 2023, Cargotec's sales were approximately EUR 2.5 billion, and the company employs over 6,000 people. More details can be found at www.cargotec.com.

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Halvårsrapport: Cargotec's half-year financial report January-June 2024: Sixth consecutive quarter with good results, demerger completed

Cargotec Corporation released its half-year financial report for January–June 2024, highlighting its sixth consecutive quarter of good results and the completion of a partial demerger. Key points include: - Orders received increased in April–June 2024. - Comparable operating profit increased in January–June 2024. - The outlook for 2024 has been updated, with Hiab’s comparable operating profit margin expected to be above 13.5% and MacGregor’s above EUR 55 million. Following the partial demerger, Cargotec now has two reporting segments: Hiab and MacGregor, with Kalmar removed. The new reporting structure is reflected in this report, and reclassified financial information for prior periods has been published. Key financial figures show mixed results, with sales decreasing by 4% to EUR 625 million in the second quarter, but a 2% increase in comparable operating profit to EUR 82 million. Hiab faced challenges with delayed customer orders, while MacGregor saw strong demand and increased orders and sales. Cargotec’s balance sheet is strong post-demerger, with low gearing and net debt. Hiab is planning an efficiency improvement programme targeting EUR 20 million in cost savings by 2025. Cargotec aims to transform Hiab into a standalone company and is in the process of selling MacGregor. A telephone conference for analysts, investors, and media is scheduled, and further details are available on Cargotec’s website.

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Övrig information som ska lämnas enligt börsens regler: Cargotec will start to repurchase own shares

Cargotec Corporation's Board of Directors has decided to repurchase 400,000 class B shares to be used as rewards for its share-based incentive programs. The repurchase, authorized by the Annual General Meeting on 30 May 2024, will begin on 9 August 2024 at the earliest and will be conducted at market price on Nasdaq Helsinki Ltd. The authorization allows for a maximum acquisition of 952,000 class A shares and 5,448,000 class B shares. As of 7 August 2024, Cargotec held 384,050 class B shares. For more information, contact Executive Vice President and CFO Mikko Puolakka or Vice President of Investor Relations Aki Vesikallio. Cargotec, listed on Nasdaq Helsinki (CGCBV), specializes in cargo handling solutions through its Hiab and MacGregor businesses, with 2023 sales of approximately EUR 2.5 billion and over 6,000 employees.

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Övrig information som ska lämnas enligt börsens regler: Cargotec's Board of Directors has resolved on the adjustment of the ongoing share-based incentive programmes due to the demerger

Cargotec Corporation's Board of Directors has decided to adjust its ongoing share-based incentive programs due to the company's partial demerger, which was registered on June 30, 2024. The adjustments will ensure that rewards are payable in Cargotec shares only. The approximate maximum number of shares payable under various programs has been specified, including the Performance Share Programmes and Restricted Share Programmes for different periods. The rewards will also include a cash portion to cover taxes and related costs for key employees. Other terms of the incentive programs remain largely unchanged. For further information, contact Mikko Puolakka, Executive Vice President and CFO, or Aki Vesikallio, Vice President, Investor Relations. Cargotec's businesses, Hiab and MacGregor, specialize in cargo handling solutions and services, with 2023 sales totalling approximately EUR 2.5 billion and employing over 6,000 people.

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Övrig information som ska lämnas enligt börsens regler: Cargotec updates its reporting structure due to the demerger, effective from 30 June 2024

Cargotec Corporation announced an update to its reporting structure following the partial demerger that took effect on 30 June 2024. As a result, Cargotec now has two reporting segments: Hiab and MacGregor, with the Kalmar segment removed. This new structure will be reflected in the company's half-year financial report for January–June 2024. To facilitate comparison, Cargotec has reclassified financial information for all quarters of 2023 and the first quarter of 2024, as well as for the full year 2023. The corporate administration and support functions now reflect continuing operations, while Hiab and MacGregor's financial information remains unchanged. Additionally, Cargotec will begin publishing a new performance measure for Hiab, Operative ROCE, and has provided this data for all quarters of 2023 and the first quarter of 2024. The change in reporting structure does not affect Cargotec’s 2024 outlook. Hiab’s comparable operating profit margin is expected to exceed 12%, and MacGregor’s comparable operating profit is projected to improve from 2023’s EUR 33 million. For further information, contact CFO Mikko Puolakka or Vice President of Investor Relations Aki Vesikallio. Cargotec’s businesses, Hiab and MacGregor, focus on smart and sustainable cargo handling solutions. In 2023, Cargotec's continuing operations sales amounted to approximately EUR 2.5 billion, employing over 6,000 people.

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Övrig information som ska lämnas enligt börsens regler: The partial demerger of Cargotec has been registered - Kalmar to be listed on Nasdaq Helsinki

Cargotec Corporation announced the completion of its partial demerger, which has been registered with the Finnish Trade Register as of June 30, 2024. This demerger involves the transfer of all assets, debts, and liabilities related to the Kalmar business area to Kalmar Corporation. Following this, Nasdaq Helsinki approved the listing of Kalmar’s class B shares, which will begin trading on July 1, 2024, under the code "KALMAR." Cargotec’s class B and class A shares will continue trading with new ISIN codes. Shareholders will have their new Kalmar shares registered in their accounts around July 1, 2024. The demerger also affects Cargotec’s senior unsecured notes, with a consent fee and an early bird consent fee to be paid to noteholders by July 12, 2024. Cargotec’s remaining businesses, Hiab and MacGregor, continue to operate with a focus on smart and sustainable cargo handling solutions. The company’s sales in 2023 were approximately EUR 2.5 billion, employing over 6,000 people. The securities related to this demerger are not registered under U.S. law and are not intended for public offering in the United States.

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Övrig information som ska lämnas enligt börsens regler: Cargotec updates its outlook for 2024 due to the completion of the Kalmar demerger

Cargotec Corporation announced on 26 June 2024 that its Board of Directors has decided to complete the partial demerger of the company, resulting in the incorporation of Kalmar as a separate entity by 30 June 2024. Consequently, Cargotec has updated its 2024 outlook, estimating Hiab's comparable operating profit margin to exceed 12 percent and MacGregor's operating profit to improve from EUR 33 million in 2023. The outlook for Hiab and MacGregor remains unchanged from the earlier forecast published on 1 February 2024. Kalmar's business has been removed from Cargotec's 2024 outlook due to the demerger. For more information, contact CFO Mikko Puolakka or Vice President of Investor Relations Aki Vesikallio. Cargotec, listed on Nasdaq Helsinki, is known for its cargo handling solutions and services, with 2023 sales of approximately EUR 4.6 billion and around 11,300 employees.

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Övrig information som ska lämnas enligt börsens regler: Cargotec has decided to complete the partial demerger of Cargotec; trading in Kalmar's class B shares is expected to commence on 1 July 2024

Cargotec Corporation announced the completion of its partial demerger, with the Finnish Trade Register set to register the demerger on 30 June 2024. This demerger will transfer all assets, debts, and liabilities related to the Kalmar business area to a new entity, Kalmar Corporation. Cargotec shareholders will receive one new share in Kalmar for each Cargotec share they own, excluding treasury shares. A total of 64,324,118 Kalmar shares will be issued, divided into 9,526,089 class A shares and 54,798,029 class B shares. Trading in Kalmar's class B shares on Nasdaq Helsinki is expected to start on 1 July 2024. Cargotec's share capital will decrease, and its share premium reserve will dissolve. The leadership team for Kalmar has been confirmed. Cargotec and Kalmar have no plans to register or offer securities in the United States. The release includes forward-looking statements subject to risks and uncertainties.

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Övrig information som ska lämnas enligt börsens regler: Cargotec has applied for Kalmar to be listed on Nasdaq Helsinki

Cargotec Corporation announced that it has applied for Kalmar to be listed on Nasdaq Helsinki following the approval of a demerger plan. This plan involves transferring all assets, debts, and liabilities related to the Kalmar business area to a new entity, Kalmar Corporation. The decision was made during Cargotec’s Annual General Meeting on 30 May 2024. Shareholders will receive one new Kalmar share for each Cargotec share they own. The demerger is expected to be completed by 30 June 2024, with trading of Kalmar’s class B shares starting on 1 July 2024 under the code "KALMAR". Kalmar focuses on sustainable material handling equipment and services, operating in over 120 countries with 2023 sales of approximately EUR 2.0 billion. Cargotec, known for its cargo handling solutions, had 2023 sales of approximately EUR 4.6 billion. The release also includes disclaimers about U.S. securities regulations and forward-looking statements, cautioning readers about potential risks and uncertainties.

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Övrig information som ska lämnas enligt börsens regler: Cargotec's Board of Directors organising meeting 2024

Cargotec Corporation's Board of Directors held its organizing meeting for 2024, during which Ilkka Herlin was elected as Chair and Jukka Moisio as Vice Chair. The Board considers all members independent of the company, with the exception of Ilkka Herlin, who is not independent of major shareholders. The Audit and Risk Management Committee members are Eric Alström, Raija-Leena Hankonen-Nybom (Chair), and Tuija Pohjolainen-Hiltunen. The Nomination and Compensation Committee includes Ilkka Herlin (Chair), Jukka Moisio, and Ritva Sotamaa. The Demerger Committee, established in 2023, has been dissolved. Senior Vice President and General Counsel Outi Aaltonen will continue as Secretary to the Board. Cargotec, listed on Nasdaq Helsinki, focuses on cargo handling solutions and services, with 2023 sales of approximately EUR 4.6 billion and around 11,300 employees.