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Half-year report January-June 2024 will be published on 8 August, 2024
Invitation release Teleconference WebcastBrowse all Cargotec’s investor publications in this section. In case you need additional information, please contact Cargotec Investor Relations team.
This section contains Cargotec's IR newsletters, mainly published quarterly before the three-week silent period. You can find the most recent letter below.
As our silent period is about to start, we would like to highlight some of the most notable events of the first half of 2024. Cargotec's half year financial report January–June 2024 will be published on Thursday, 8 August 2024, and the silent period starts on Thursday, 18 July 2024.
Cargotec will disclose the following financial information in 2024:
The completion of the partial demerger of Cargotec Corporation and the incorporation of a new Kalmar Corporation was registered in the Finnish Trade Register on 30 June 2024. Cargotec's Annual General Meeting had resolved on the partial demerger of Cargotec in accordance with the demerger plan on 30 May 2024. In April 2023, Cargotec's Board of Directors had decided to investigate and initiate a process to separate Kalmar and Hiab into two standalone companies.
Trading in the Kalmar class B shares on Nasdaq Helsinki commenced on 1 July 2024. Trading in Cargotec’s class B shares has continued on Nasdaq Helsinki with a new ISIN code FI4000571013. The new ISIN code for Cargotec’s class A shares is FI4000571005.
More information about the demerger can be found here.
As announced on 14 November 2022, MacGregor will not be part of Cargotec’s portfolio in the future. Since then, as MacGregor’s performance and market conditions have improved, and as a dispute with a monopile installation vessel customer has been settled, Cargotec has decided to proceed with the sale process of MacGregor.
If a solution to MacGregor is found so that MacGregor would not thereafter be part of the Cargotec group, Cargotec’s Board of Directors is planning to propose to Cargotec’s General Meeting of shareholders that the company’s name would be changed from Cargotec to Hiab. Should such actions be carried out as planned in the leadership of the current President and CEO of Cargotec, Casimir Lindholm has announced his intention to step down as President and CEO at such point. The Board of Directors would then appoint the President of the Hiab business Scott Phillips as the President and CEO of the renamed company being the current Cargotec. Cargotec currently estimates that these changes to transform into standalone Hiab could take place during 2025. The current Cargotec CFO Mikko Puolakka would continue as CFO of standalone Hiab.
As a result of the the completion of the partial demerger of Cargotec Corporation, Cargotec has updated its segment reporting and from 30 June 2024 onwards Cargotec has two reporting segments, Hiab and MacGregor. The Kalmar segment has been removed. The new reporting structure will be used in Cargotec’s half-year financial report January–June 2024.
To provide a basis for comparison, Cargotec publishes its reclassified financial information of reportable segments and Corporate administration and support functions for all quarters of 2023 and the first quarter of 2024 separately, as well as for the full year 2023. Corporate administration and support functions now reflect continuing operations. Hiab and MacGregor financial information remains unchanged.
Additionally, Cargotec starts publishing a new alternative performance measure for its Hiab segment; Operative return on capital employed (Operative ROCE, defined as operating profit / operative capital employed, last 12 months). To provide a basis for comparison, Cargotec publishes Hiab’s operative ROCE for all quarters of 2023 and first quarter of 2024 separately.
The change in the reporting structure will not impact Cargotec’s outlook for 2024 which was updated on 26 June 2024:
Cargotec estimates* Hiab’s comparable operating profit margin in 2024 to be above 12 percent and MacGregor’s comparable operating profit in 2024 to improve from 2023 (EUR 33 million).
* The business area 2024 profitability outlook is presented using the same principles which are applied in the 2023 external financial reporting.
Read more from the 3 July 2024 release
Cargotec's Capital Markets Day 2024 was held in Helsinki, Finland, on 28–29** May. Around 60 investors and analysts participated in the event, either on site or virtually. Cargotec's President and CEO Casimir Lindholm opened the event, summarising the latest development of Cargotec, including the partial demerger activities at that time.
Hiab's President Scott Phillips presented Hiab's investment highlights, elaborating on the main topics, which include #1 or #2 Position in all segments; Positioned to grow faster than the market; Profitability upside, and Sustainable value creation.
Scott was followed Barry McGrane, SVP, Loader Cranes Light & Medium, Michael Bruninx, SVP, Service, and Magdalena Wojtowicz, SVP, Tail Lifts, who introduced the audience to their respective topics of Outperforming the market by focusing on growth in key segments and North America, Driving scalable service growth and customer engagement, and Unlocking productivity gains through Business Excellence.
CMD presentations and videos are available at the CMD page.
** The CMD second day focused on Kalmar. More information is available from www.kalmarglobal.com.
In connection with the CMD, Cargotec published Hiab's new long term financial targets which are valid for Hiab to measure success by 2028:
1) as a business area of Cargotec
2) as a business area of Cargotec, defined as (Operating profit / Operative capital employed)
In addition to the Hiab-specific long term targets, Cargotec’s climate target to reduce greenhouse gas emissions in all three emission scopes by at least 50 percent by 2030 compared to a 2019 baseline remains valid.
Cargotec also aims for a growing dividend of 30–50 percent of EPS and to keep gearing below 50 percent. Read more about Hiab's financial targets from our 27 May release.
Have a look at the latest VARA consensus estimates from the link below.
In July, Hiab launched HIAB eX.HIPRO crane, featuring cutting edge technological advancements in load handling for energy efficiency, increased productivity and ease of use with minimal environmental impact. The new crane provides unprecedented efficiency with energy savings of up to 30%. The robust construction and superior quality components ensure long-lasting performance, backed by extensive warranties and a wide network of service support.
In June, Cargotec announced that it updates its 2024 outlook due to the completion of the Kalmar demerger. Cargotec estimates* Hiab’s comparable operating profit margin in 2024 to be above 12 percent and MacGregor’s comparable operating profit in 2024 to improve from 2023 (EUR 33 million).
In June, Hiab launched the WALTCO MDV liftgate series for speedy and hassle-free dock loading and distribution. Combined with intuitive controls for easy operations, the new liftgate series offers several sustainability advantages and safety features.
In June, Hiab announced the launch of MyHiab mobile app to improve operator productivity and safety. The digital companion provides features and content about Hiab equipment throughout its lifecycle. It also establishes a communication channel between Hiab and the end-users.
Cargotec's Annual General Meeting 2024 was held on 30 May 2024 in Helsinki, Finland. The AGM decided in line with the Board's proposals, including the partial demerger of Cargotec and the separate listing of Kalmar. In its organising meeting, the elected Board of Directors elected Ilkka Herlin as the Board Chair.
In May, Cargotec announced that MacGregor has settled the dispute it had related to one and only monopile installation vessel project. The settlement will have an approximately EUR 25 million negative impact on MacGregor’s second quarter 2024 operating profit. The costs will be reported as items affecting comparability as the costs are related to a one of its kind pilot project and the product is no longer in MacGregor’s sales portfolio.
In May, Hiab announced that it expands its spare parts offering so every customer finds a solution tailored to their needs, with the introduction of Red Parts and Exchange Parts to complement Original Parts.
Cargotec hosted its Q2/2024 pre-silent call on 18 June 2024. In this video, Cargotec's CFO Mikko Puolakka answers the most frequent questions received from investors and analysts during the first half of 2024.
During the first half of 2024, road shows and investor conferences took us to Switzerland, France, England, Germany and Sweden, and we have also hosted investor visits and calls at our headquarters in Helsinki, Finland. We are also available for virtual and hybrid meetings and events.
An up-to-date listing of the conferences and events we participate in is available on our IR calendar. Please note though that the schedule is preliminary and subject to change. If you are interested to meet with us, please do not hesitate to contact Heidi at heidi.gustafsson(at)cargotec.
Check our IR blog section for interesting stories about various topics around our industry anc activities.
We maintain a list with all mergers and acquisitions as well as divestments on the Cargotec website Investors section - you can find the M&A history here.
As our silent period is about to start, we would like to highlight some of the most notable events of the first quarter of 2024. Cargotec’s Interim report January–March 2024 will be published on Tuesday, 30 April 2024, and the silent period starts on Tuesday, 9 April 2024.
Cargotec will disclose the following financial information in 2024:
Cargotec's Financial Statements 2023 and Annual Report 2023 was published on 22 February 2024.
The Annual General Meeting of Cargotec Corporation will be held on Thursday, 30 May 2024.
Notice to Annual General Meeting.
In April 2023, Cargotec announced that the Board of Directors of Cargotec has decided to investigate and initiate a process to potentially separate its core businesses Kalmar and Hiab into two standalone companies. In February 2024, Cargotec's Board of Directors approved a demerger plan concerning the separation of Kalmar into a new listed company.
Also in February, Cargotec announced that, as part of the planned separation of Kalmar by partial demerger, there will be changes in its leadership team:
Cargotec previously announced on 9 November 2023 that Sami Niiranen (M.Sc. Mining) was appointed as President of Kalmar and proposed as the new CEO of the potential standalone Kalmar. As announced on the 1 February 2024 release, on 1 April 2024 Sami Niiranen started as President of Kalmar and joined Cargotec’s Leadership team.
According to the same release, as part of the planned separation of Kalmar, Carina Geber-Teir has transitioned from her role as SVP Communications at Cargotec to assume the position of Head of Investor Relations, Communications and Marketing at Kalmar. From 1 April 2024 onwards Carina has joined Kalmar’s leadership team, and is no longer a member of the Cargotec Leadership Team.
Cargotec’s two-day Capital Markets Day event will take place on 28–29 May 2024 in Helsinki, Finland. On 28 May, the focus is on Cargotec and Hiab while on 29 May, Kalmar will present itself in detail.
More information can be found on our website.
Save the dates on your calendar and register for the event through this link.
Date (booking quarter): 8 April (Q1/24)
Business area: Kalmar
Description: Six Kalmar hybrid straddle carriers
Country/Customer: France/Med Europe Terminal
Value: Not disclosed (large order)
Date (booking quarter): 3 April (Q1/24)
Business area: Hiab
Description: WALTCO tail lifts
Country/Customer: USA/a national discount retailer
Value: Large order of EUR 7 million
Date (booking quarter): 27 March (Q1/24)
Business area: Hiab
Description: Loader cranes to be used in offshore wind turbines
Country/Customer: Not disclosed
Value: Large order of EUR 5 million
Date (booking quarter): 7 March (Q1/24)
Business area: MacGregor
Description: A 100-tonne active heave-compensated (AHC) crane, a 20T Offshore crane and a 3T deck crane, and MacGregor's OnWatch solution, including 24/7 technical service support worldwide
Country/Customer: Norway/VARD
Value: Not disclosed (large order)
Date (booking quarter): 5 March (Q1/24)
Business area: Kalmar
Description: Two new electric AutoStrads™, retrofitting of two existing hybrid straddle carriers
Country/Customer: USA/APM Terminals
Value: Not disclosed (large order)
Date (booking quarter): 21 February (Q1/24)
Business area: Kalmar
Description: Two fully electric and eight hybrid straddle carriers
Country/Customer: The Netherland/Hutchison Ports ECT Rotterdam
Value: Not disclosed (significant order)
In April, Cargotec announced restated financial information for 2023 due to the proposed demerger, and Kalmar business area is presented as discontinued operations. Under IFRS 5, the result from discontinued operations is reported separately from continuing operations’ income and expenses in the consolidated statement of income.
In April, Cargotec announced that the public prosecutor has decided to press charges against Tapio Kolunsarka, a member of the Board of Directors of Cargotec, in a criminal matter concerning certain Ramirent Plc’s disclosures as a listed company. Tapio Kolunsarka acted as the Managing Director of Ramirent Plc during the period referred to in the charges in 2019. According to information received by Cargotec, Tapio Kolunsarka denies any involvement in criminal activity. Cargotec is not a party to the matter. The charges do not affect the work of the Cargotec Board of Directors.
In March, Cargotec announced the Board of Directors had decided on a direct share issue related to the reward payments for share-based incentive programmes. 172,993 own class B shares held by the company were transferred without consideration to the key employees participating in the share-based incentive programmes. After the transfer of shares, Cargotec holds a total of 384,050 own class B shares.
In March, Hiab announced that they have launched a new eco-friendly crane solution – the HIAB wspr. This new line of emission-free, electric-hybrid cranes combine clean operation with a space-saving design.
In March, Kalmar announced that they have signed a joint development agreement for autonomous terminal tractor solutions with Forterra (formerly RRAI). Kalmar will be responsible for developing the automation-ready terminal tractor – including the drive-by-wire solution integration – as well as the Kalmar One fleet management system to manage the operation of automated terminal tractor fleets. Forterra will be responsible for the integration of their AutoDrive platform for autonomous operations for the terminal tractor.
In March, it was also announced that Kalmar was awarded ISO 27001 certification for its Information Security Management System (ISMS). The certification process was completed during 2023 by Cargotec’s Information Security team and the certification was confirmed in December 2023. ISO 27001 is the world's best-known standard for ISMSs and defines requirements that these systems must meet.
In February, Cargotec announced that the Board of Directors has decided to exercise the authorisation of the Annual General Meeting on 23 March 2023 to repurchase the company's own shares. Later in March, Cargotec announced that it has completed share repurchases and repurchased 150,000 own class B shares. After the repurchase Cargotec held a total of 557,043 shares including the shares repurchased.
In February, Cargotec announced that it commences written procedures to solicit consents, waivers and decisions to amend the terms and conditions of its senior unsecured notes due 2025 and 2026. In February, it was later announced that the procedures yielded successful results after the approval was secured from a majority of participating noteholders. The consents and waivers became effective immediately upon approval in the written procedures, and the amendments will become effective at the completion of the demerger, expected to take place on 30 June 2024.
Cargotec hosted its Q1/2024 pre-silent call on 8 April 2024. In this video, Cargotec's CFO Mikko Puolakka answers the most frequent questions received from investors and analysts during the first quarter of 2024.
During the first quarter, road shows and investor conferences took us to Switzerland, France, England and Sweden, and we have also hosted investor visits and calls at our headquarters in Helsinki, Finland. We are also available for virtual and hybrid meetings and events.
An up-to-date listing of the conferences and events we participate in is available on our IR calendar. Please note though that the schedule is preliminary and subject to change. If you are interested to meet with us, please do not hesitate to contact Heidi at heidi.gustafsson(at)cargotec.
IR calendar on the Cargotec website
You can follow Cargotec investor-related and other news also in Instagram. Be sure to go to @cargotecglobal and subscribe!
Check our IR blog section for interesting stories about various topics around our industry and activities.
We maintain a list with all mergers and acquisitions as well as divestments on the Cargotec website Investors section - you can find the M&A history here.
Have a look at the latest VARA consensus estimates.
As the year is soon coming to its end, we would like to highlight some of the most notable events of the fourth and last quarter of 2021. Cargotec’s Financial statements review 2021 will be published on Thursday, 3 February 2022, and the silent period starts on Thursday, 13 January 2022.
Remember to register to our pre-silent call
We will arrange a pre-silent call with our CFO Mikko Puolakka on 10 January at 11am EET. Please register to the call via this form no later than on Wednesday 5 January, if you haven't already done so.
Cargotec Corporation will disclose the following financial information in 2022:
- Financial Statements review 2021, on Thursday, 3 February 2022
- Interim report January–March 2022, on Wednesday, 27 April 2022
- Half year financial report January–June 2022, on Wednesday, 27 July 2022
- Interim report January–September 2022, on Wednesday, 26 October 2022
Cargotec's Financial Statements 2021 and Annual Report 2021 will be available at www.cargotec.com on week 8.
| Date (and booking quarter) | Business area | Description | Country/Customer | Value |
| 1 December (Q4/21) | Kalmar | 4 diesel-electric straddle carriers | Jamaica/Kingston Freeport Terminal Limited (KFTL) | Not disclosed |
| 30 November (Q4/21) | Kalmar | three-year Kalmar Care service agreement | Sweden/Holmen Iggesund | Not disclosed |
| 25 November (Q4/21) | Kalmar | 34 Kalmar Straddle Carriers | Belgium/MPET and PSA | Not disclosed (significant order) |
| 18 November (Q4/21) | MacGregor | Design & key components, fabrication and delivery of hatch covers for twelve containerships | Japan/Japan Marine United | Not disclosed (significant order) |
Other releases from Q4
On 15 December, Kalmar held its customer event, the New Era of Logistics and launched three new 100% electrically powered solutions – the Kalmar Electric Reachstacker, the Kalmar Electric Heavy Forklift and the Kalmar Ottawa Electric Terminal Tractor.
In the event, Kalmar also announced the introduction of the Kalmar Robotic Portfolio – a future range of intelligent, flexible and autonomous mobile equipment solutions. The portfolio will consist of the Kalmar RoboTractor, RoboLifter, RoboStacker and RoboHandler, and prototypes are currently being tested at different sites around the world.
Kalmar also announced the launch of Kalmar Tracker, an automated container information solution for reachstackers designed to enable safer and more efficient management of container movements.
In December, Cargotec was awarded with a B in CDP’s Climate change rating. The scoring varies from a scale from A to D-. This is the second year in a row for Cargotec to receive CDP’s B rating, which indicates that we are taking coordinated actions on climate issues.
In November, Cargotec announced a voluntary total redemption of the EUR 150 million senior unsecured notes issued on 28 March 2017 which have a maturity date 28 March 2022 (ISIN: FI4000243316). Cargotec announced irrevocably that on 28 December 2021, Cargotec will redeem the Notes in whole at their principal amount, together with any accrued but unpaid interest in accordance with the terms and conditions of the Notes. Cargotec will use existing liquidity reserves to finance the redemption.
In October, Cargotec appointed Michel van Roozendaal, former President of MacGregor, as President of the Kalmar Mobile Solutions strategic business unit. Following Mr. van Roozendaal’s appointment, Leif Byström, former MacGregor’s Chief Operating Officer and Interim Head of the Offshore Solutions Division, was appointed President of the MacGregor business area.
On 9 December, we announced progress in regulatory proceedings in the merger between Cargotec and Konecranes: The companies have submitted commitments to the European Commission to satisfy competition concerns.
On 26 November, we announced that Cargotec and Konecranes note CMA’s announced Provisional Findings regarding the planned merger of Cargotec and Konecranes.
On 4 November, we announced the planned high-level operating model and leadership team of the Future Company.
On 1 October 2020, Cargotec Corporation and Konecranes Plc announced that the companies have signed a combination agreement and plan to combine through a merger, subject to regulatory and other approvals (the “Transaction”). The companies are confident that the approvals are received to allow completion of the Transaction by the end of H1/2022. Until completion, both companies will operate fully separately and independently.
More information about the merger
During Q4, we have kept up our active engagement with the financial markets. We met investors on virtual roadshows and hosted standalone meetings and calls with investors and analysts.
Most of our meetings with you have remained virtual and based on the positive feedback received, this may well continue to be our main meeting format in the (near) future as well. However, we are keen to meet you in-person as well, whenever the situation allows.
If you are interested to meet with us, please do not hesitate to contact Heidi at heidi.gustafsson(at)cargotec.com to agree on the details.
Cargotec's refined strategy was published in April this year. Our refined vision is to become global leader in sustainable cargo flow. Check our fresh strategy video to learn about our progress during 2021.
You can follow Cargotec investor-related and other news also in Instagram. Be sure to go to @cargotecglobal and subscribe!
Check our IR blog section for interesting stories about various topics around our industry and activities.
We maintain a list with all mergers and acquisitions as well as divestments on the Cargotec website Investors section - you can find the M&A history here.
Visit the IR calendar section on the Cargotec website for more information about upcoming and past events.
Cargotec’s investor relations offers a podcast channel in Finnish and English, listen to it here. You can also find our leadership podcasts there. Both Finnish and English podcasts are also available on iTunes.
Have a look at the latest VARA consensus estimates.
As the third quarter of 2021 is soon coming to its end, we would like to highlight some of the most notable events of the period. Cargotec’s Interim report January–September 2021 will be published on Thursday, 28 October 2021, and the silent period starts on Thursday, 7 October 2021.
Remember to register to our pre-silent call
We will arrange a pre-silent call with our CFO Mikko Puolakka on 4 October at 11am EEST . Please register to the call via this form no later than on Thursday 30 September, if you haven't already done so.
Cargotec Corporation will publish its interim report January–September 2021 on Thursday, 28 October 2021.
| Date (booking quarter) | Business area | Description | Country/ Customer | Value |
| 29 September (Q3/21) | Kalmar | two new-generation Kalmar Zero Emission rubber-tyred gantry cranes (RTGs), two Kalmar Essential empty container handlers and a Kalmar Essential reachstacker | Indonesia/PT. Riau Andalan Pulp and Paper (RAPP) | Not disclosed |
| 16 September (Q3/21) | Kalmar | 15 medium electric forklift trucks | France/SEAC |
Not disclosed (large order) |
| 26 August (Q3/21) | Kalmar | 18 hybrid shuttle carriers | US/The Port of Virginia® |
Not disclosed |
| 28 July (Q3/21) |
Kalmar | 12 diesel-electric straddle carriers | Italy/Medcenter Container Terminal |
Not disclosed |
Other releases from Q3
In September, Cargotec and SSAB agreed to work on the introduction of fossil-free steel to the cargo handling industry. “I am proud that we are paving the way in the cargo handling industry through commitment to using fossil-free steel and have this unique opportunity to work with a forerunner in fossil-free steel development,” says Mika Vehviläinen, CEO of Cargotec.
Also in September, Hiab completed the acquisition of the US demountables manufacturer Galfab. The acquisition broadens Hiab’s demountable portfolio while Galfab’s equipment will be included in Hiab’s nationwide US sales and service network. Galfab makes roll-off hoists and related equipment for the domestic waste industry and employs around 100 people.
In July, Cargotec completed the sale of its Navis business to the US technology investment firm Accel-KKR for an enterprise value of EUR 380 million. Accel-KKR transferred EUR 350 million of the enterprise value to Cargotec and obtained control of Navis' business. The remaining EUR 30 million of the enterprise value will be transferred to Cargotec by the end of 2021. Cargotec estimates that the transaction will have approximately EUR 240 million positive impact on its operating profit in 2021.
On 10 August, we announced that the State Administration for Market Regulation has approved the merger between Cargotec and Konecranes in China. Cargotec and Konecranes have received unconditional approval from the State Administration for Market Regulation, the competition authority in China, for their planned merger.
On 6 August, we announced that the Boards of Directors of Cargotec and Konecranes have agreed to select Mika Vehviläinen as the President and CEO of the Future Company, and the Board of Directors of Cargotec has made the appointment accordingly. The appointment of Mika Vehviläinen will become effective upon completion of the Transaction which is currently expected to take place by the end of H1/2022.
On 2 July, we announced that the EC has opened a Phase II review in connection with the planned Transaction. The Phase II review is a common step in the EC merger review of global transactions of this size. Phase II will enable the EC to consider the contemplated transaction in further detail.
On 1 October 2020, Cargotec Corporation and Konecranes Plc announced that the companies have signed a combination agreement and plan to combine through a merger, subject to regulatory and other approvals (the “Transaction”). The companies are confident that the approvals are received to allow completion of the Transaction by the end of H1/2022. Until completion, both companies will operate fully separately and independently.
More information about the merger
During Q3, we have met with an exceptional amount of investors and analysts - thank you for your interest in Cargotec! In late September, we arranged a virtual Hiab Investor event. The event constituted of a business update presented by Scott Phillips, President of Hiab Business Area, together with fellow Hiab leaders, as well as a Q&A session. About 50 investors, analysts, credit investors and bankers participated in the webcast. The recording can accessed here.
Most of our meetings with you have remained virtual and based on the positive feedback received, this may well continue to be our main meeting format in the (near) future as well. However, in-person meetings are gradually also becoming a possibility; we will keep you posted on the available options on how to engage in conversation with us.
If you are interested to meet with us, please do not hesitate to contact Heidi at heidi.gustafsson(at)cargotec.com to agree on the details.
You can follow Cargotec investor-related and other news also in Instagram. Be sure to go to @cargotecglobal and subscribe!
Check our IR blog section for interesting stories about various topics around our industry and activities.
We maintain a list with all mergers and acquisitions as well as divestments on the Cargotec website Investors section - you can find the M&A history here.
Visit the IR calendar section on the Cargotec website for more information about upcoming and past events.
Cargotec’s investor relations offers a podcast channel in Finnish and English, listen to it here. You can also find our leadership podcasts there. Both Finnish and English podcasts are also available on iTunes.
Have a look at the latest VARA consensus estimates.
The second quarter of 2021 is soon behind us, and we would like to remind you of some of the quarter's most important events. Cargotec’s half year financial report January–June 2021 will be published on Wednesday, 28 July 2021, and the silent period starts on Wednesday, 7 July 2021. On 23 June we will arrange a pre-silent call with our CFO Mikko Puolakka present. If you would like to join that call, please contact Tiina (tiina.aaltonen@
Cargotec Corporation will disclose the following financial information in 2021:
Half year financial report January-June 2021, on Wednesday, 28 July 2021
Interim report January-September 2021, on Thursday, 28 October 2021
| Date (booking quarter) | Business area | Description | Country/ Customer | Value |
| 24 May (Q2/21) | Kalmar | Two Kalmar Gloria reachstackers and three Kalmar diesel-electric straddle carriers | US/Tropical Shipping | Not disclosed |
| 28 April (Q1/21) | Hiab | 108 HIAB loader cranes with connected service HiConnect™ and ProCare™ Total Repair and Maintenance contracts for eight years | UK/Marshalls |
MEUR 4.9 million |
Vision and strategy refined: a million tonne CO2 emission reduction in the value chain
We announced in April our refined strategy and vision. Breakthrough objectives are sustainability and profitable growth. Our vision is to become the global leader in sustainable cargo flow. In concrete terms, Cargotec aims to reduce the CO2 emissions of its value chain by 1 million tons by 2024.
Strategy progress is measured by financial reporting, leadership index, eco portfolio share of sales and, in the future, CO2 emission reduction and the net promoter score as well.
Cargotec has set an ambitious climate target and climate is an integral part of Cargotec's strategy. In a recent video on Cargotec's Youtube channel, Päivi Koivisto, Vice President, Sustainability, tells more about Cargotec's view on sustainability.
In May, Cargotec’s IR pages were nominated the best in Finland in the large cap category in 2021. The award was given by the Finnish Foundation for Share Promotion and the Finnish Society of Financial Analysts. The Best investor pages (link opens a page in Finnish) is an annual competition that aims to improve the investor communications of companies listed on the Helsinki Stock Exchange. According to the jury, Cargotec’s IR pages provide relevant information to investors in a versatile and easy-to-use manner. Read about how to create winning IR web content.
During Q2, our investor meetings have been virtual meetings where we have convened online and shared material virtually. Joining the IR staff, our CEO Mika Vehviläinen and CFO Mikko Puolakka have provided insights and knowledge about Cargotec, its business areas, and the business environment.
While the coronavirus situation prevails, we continue with high safety standards, following the regulatory travel and social restrictions. We thank you for your support and appreciate the positive feedback we have received about the meetings.
Tiina Aaltonen, Cargotec’s long time Executive Assistant to the CFO and Investor Relations, retires after 16 years in the company. Tiina’s last day at Cargotec is 30 July, 2021.
“We would like to thank Tiina for her hard-working attitude and dedication during all these years at Cargotec. Tiina’s contributions have been crucial when developing Cargotec’s financial and IR services to their present high level. We all wish Tiina a long and happy retirement!”, say Mikko Puolakka, Cargotec’s CFO and Carina Geber-Teir, Cargotec’s head of communications.
Heidi Gustafsson will take on Tiina's role as Executive Assistant to the CFO and Investor relations as of 16 August.
You can always find us from the address IR@cargotec.com. Note also contact information at the bottom of this newsletter.
Aki Vesikallio (M.Sc.Econ) will be heading Cargotec’s Investor Relations when Hanna-Maria Heikkinen, Head of Investor Relations at Cargotec, will pursue a new career opportunity outside Cargotec as of 30 June 2021. Aki has been working at Cargotec as Investor Relations Director since December 2019.
“I would like to thank Hanna-Maria for the excellent work to develop Cargotec Investor Relations. Aki knows the company and has excellent prerequisites to continue our great investor relations work,” says Carina Geber-Teir.
As of May, Martti Henttunen, Senior Manager, Communications and IR, has taken a more active role in the IR team.
Julia Klemola, Communications and IR Trainee, strengthens the IR team this summer. Julia recently finished her bachelor's degree studies at the University of Vaasa, majoring in Economics. Julia will be working at Cargotec until end-August.
We are on Instagram! You can now follow Cargotec investor-related and other news also in Instagram. Be sure to go to @cargotecglobal and subscribe!
Check our IR blog section for interesting stories about various topics around our industry and activities.
We maintain a list with all mergers and acquisitions as well as divestments on the Cargotec website Investors section - you can find the M&A history here.
Visit the IR calendar section on the Cargotec website for more information about upcoming and past events.
Cargotec’s investor relations offers a podcast channel in Finnish and English, listen to it here. You can also find our leadership podcasts there. Both Finnish and English podcasts are also available on iTunes.
Did you know that after participating in a Cargotec investor or analyst call, you can give immediate feedback about it. After the session, we send participants a link to a brief web form, with which you can anonymously share your thoughts about the event, and about Cargotec as a company. Your feedback is valuable to us - have a look at the form at www.cargotec.com/pulse.
Have a look at the latest VARA consensus estimates.
The first quarter of 2021 is soon behind us, and we would like to remind you of some of the quarter's most important events. Cargotec’s interim report January-March 2021 will be published on Wednesday, 28 April 2021, and the silent period will commence on Wednesday, 7 April 2021. If you would like to book a call with us before our silent period, please contact Tiina (tiina.aaltonen@cargotec.com).
Cargotec Corporation will disclose the following financial information in 2021:
| Date (and booking quarter) | Business area | Description | Country/ Customer | Value |
| 15 March (Q1/21) | Kalmar | 11 reachstackers, four empty container handlers and 12 heavy terminal tractors | YILPORT Holding Inc. | Not disclosed |
| 11 March (Q1/21) | MacGregor | Wide range of electrically operated equipment, quarter stern ramps and doors, side ramps and doors, internal ramps and covers, internal doors, a liftable car deck, and the patented Load Monitoring System | Japan/Nippon Yusen Kaisha (NYK Line) | Not disclosed |
| 9 March (Q1/21) |
Kalmar | 12 fully automated AutoStrad™ straddle carriers | Australia/Patrick Terminals | Not disclosed |
| 8 March (Q1/21) | Kalmar | 2 rubber-tyred gantry cranes (RTGs), 3 reachstackers, 2 empty container handlers, 6 terminal tractors | Laos/Sitthi Logistics (Thailand) Co., Ltd. | Not disclosed |
| 24 February (Q1/21) | Hiab | 100 HIAB loader cranes | UK/MV Commercial | over EUR 5.7 million |
| 17 February (Q1/21) | Kalmar | 10 hybrid straddle carriers | Netherlands/Hutchison Ports ECT Rotterdam | Not disclosed |
On 24 February, we announced that Cargotec Corporation's Board of Directors has decided to exercise the authorisation of the Annual General Meeting on 27 May 2021 to repurchase company's own shares. Cargotec will repurchase 75,691 class B shares to be used as reward payments for Cargotec's share-based incentive programmes. The shares will be purchased at public trading on Nasdaq Helsinki Ltd. at the market price. The repurchases started on 25 February 2021.
On 4 February, we announced that the Board of Directors has resolved on the performance criteria for the share-based incentive programme for the year 2021. The performance share programme, approved by the Board of Directors in 2020, includes three performance periods, calendar years 2020–2022, 2021–2023 and 2022–2024. Each performance period includes one to three measuring periods.
On 28 January, we announced that Cargotec has closed the syndication regarding an EUR 300 million Term Loan Facility. The syndication was launched on the 30th November 2020 and the commitments received from the banks in the syndication led to significant oversubscription.
On 12 January, we announced that MacGregor concluded a settlement agreement on the TTS marine and offshore businesses purchase price.The settlement amount will have an approximately EUR 7 million positive impact on MacGregor’s first quarter 2021 operating profit.
Cargotec's annual report 2020 and financial statements for the financial year 1 January–31 December 2020 was published in February. The report consists of the annual review, financial review, corporate governance statement and remuneration report.
Along with the annual report, we have collected other interesting 2020-related stories under one roof at the address www.cargotec.com/2020. Stories cover topics like strategy progress and business area activities in 2020, and our response to COVID-19 pandemic, among others.
CEO Mika Vehviläinen reviews the year 2020 (video)
Cargotec's Investor Relations arranged a sustainability presentation for analysts in early March. In the event, Päivi Koivisto, Cargotec's VP Sustainability, and Noora Jukkola, Manager Sustainability, presented Cargotec's sustainability approach, covered current topics like taxonomy and governance, and answered questions from the audience.
Watch a recording of the event
We created several videos during the first quarter. Have a look at the pre-recorded Annual General Meeting reviews from our Chairman of the Board of Directors, Ilkka Herlin, and CEO Mika Vehviläinen. Below please also find links to videos where our business area presidents summarise their business area performances in 2020, and our service business leaders present their views on their respective businesses.
During Q1, our investor meetings have been virtual meetings where we have convened online and shared material virtually. Joining the IR staff, our CEO Mika Vehviläinen and CFO Mikko Puolakka have provided insights and knowledge about Cargotec, its business areas, and the business environment.
While the coronavirus situation prevails, we continue with high safety standards, following the regulatory travel and social restrictions. We thank you for your support and appreciate the positive feedback we have received about the meetings.
Visit the IR calendar section on the Cargotec website for more information about upcoming and past events.
In our IR blog section, VP IR Hanna-Maria Heikkinen writes about investor relations in the WSB era: who has the right to give recommendations and who should retail investors listen to? Read also about the most frequently asked Q4 2020 questions, and many other stories.
Cargotec maintains a list with all mergers and acquisitions as well as divestments on the investor webpage - take a look at it here.
Cargotec’s investor relations offers a podcast channel in Finnish and English, listen to it here. Both Finnish and English podcasts are also available on iTunes.
Take a look at the latest Vara consensus estimates.
