CEO review at Cargotec's Annual General Meeting: Outlook for 2018 unchanged
20/03/2018
CARGOTEC CORPORATION, PRESS RELEASE, 20 MARCH 2018 AT NOON (EET)
CEO review at Cargotec's Annual General Meeting: Outlook for 2018 unchanged
Cargotec Corporation's Annual General Meeting will be held today, 20 March 2018, at 1.00 p.m. Finnish time in Helsinki, Finland. In his review, CEO Mika Vehviläinen will concentrate on the financial results in 2017, strategy development, sustainability as a competitive advantage for Cargotec, and on 2018 outlook. In addition, Cargotec's strong focus in research and development will be presented. The CEO review does not include any material new information.
CEO Vehviläinen will reiterate Cargotec's 2018 outlook published on 8 February 2018: Cargotec's operating profit excluding restructuring costs for 2018 is expected to improve from 2017 (EUR 263.2 million). As a result of the adoption of the IFRS 15 standard effective from January 1, 2018, Cargotec's revenue recognition for certain products and customer contracts will change in 2018. The IFRS 15 restated figures for 2017 will be published in March 2018 the latest. The change in accounting principles is not expected to have a material impact on annual operating profit.
Cargotec's strategic focus areas are services, digitalisation and leadership. In his review, CEO Mika Vehviläinen will go through the main strategic achievements in 2017.
The presentation material is attached to this press release and also available at www.cargotec.com. A video recording of the CEO review is available at Cargotec's website within coming days.
For further information, please contact:
Hanna-Maria Heikkinen, Vice President, Investor Relations, tel. +358 20 777 4084
Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimise global cargo flows and create sustainable customer value. Cargotec's sales in 2017 totalled approximately EUR 3.3 billion and it employs over 11,000 people. www.cargotec.com