Cargotec Oyj

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.