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The objective of Cargotec treasury management is to secure sufficient funding for business operations, avoiding financial constraint at all times, to provide business units with financial services, to minimise the costs of financing, to manage financial risks (currency, interest rate, liquidity and funding, credit and operational risks) and to provide management with information on the financial position and risk exposures of Cargotec and its business units.
| Q3/2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
| Net debt, MEUR |
-64 |
179 | 378 | 414 | 682 | 774 | 625 | 472 |
| Gearing, % | -5.3 | 10.2 | 24.8 | 26.8 | 52.4 | 54.2 | 43.8 | 33.1 |
| Total equity/total assets, % | 53.0 | 43.8 | 39.2 | 40.6 | 35.3 | 36.4 | 40.9 | 41.4 |
| Net working capital, MEUR | 168 | 329 | 286 | 184 | 103 | 158 | 271 | 115 |
In 2019 Cargotec adopted IFRS 16, which impacts net debt and gearing. Q3 2024 figures excluding on-balance sheet lease liabilities: net debt MEUR -162 , gearing -13 percent.
| Interest-bearing liabilities lease liabilities, MEUR |
98 |
|---|---|
| Interest-bearing liabilities other, MEUR |
276 |
| Cash and cash equivalent, MEUR |
-437 |
| Other interest-bearing assets, MEUR |
0 |
| Financial assets and liabilities held for sale | - |
| Net debt, MEUR | -64 |
Figures are updated quarterly.
Cargotec’s finance function and financial risk management are conducted according to the Treasury Policy, approved by the Board of Directors. Organisation, responsibilities and principles of financial risk management, monitoring and reporting are defined in the Treasury Policy. Treasury Committee, appointed by the Board, is responsible for Treasury Policy compliance and for organising and monitoring the treasury function. Detailed guidelines for financing functions in
accordance with Treasury Policy are defined in Treasury Instructions, approved by the Treasury Committee.
The objectives of the treasury function are to secure sufficient funding for business operations, avoiding financial constraint at all times, to provide business units with financial services, to minimise the costs of financing, to manage financial risks (currency, interest rate, liquidity and funding, credit, counterparty and operational risks) and to regularly provide management with information on the financial position and risk exposures of Cargotec and its business units.
Cargotec Treasury is responsible for funding at corporate level, for managing liquidity and financial risks, for providing efficient set up of financing operations and for monitoring business unit financial positions. Cargotec Treasury reports on these issues monthly. The business units are responsible for hedging their financial risks according to the Treasury Policy and instructions from Cargotec Treasury.
