C1C Cargotec Corp

Cargotec updates its outlook for 2024 due to the completion of the Kalmar demerger

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 26 JUNE 2024 AT 1:10 P.M. (EEST)

Cargotec updates its outlook for 2024 due to the completion of the Kalmar demerger

Cargotec Corporation (“Cargotec”) announced on 26 June 2024 that Cargotec’s Board of Directors has decided to complete the partial demerger of Cargotec (the “Demerger”) and that the completion of the Demerger and the incorporation of Kalmar as a separate new company would be registered on 30 June 2024. Cargotec updates its outlook for 2024 to take the anticipated completion of the Demerger into account. 

Updated outlook for 2024

Cargotec estimates (1 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). 

1) The business area 2024 profitability outlook is presented using the same principles which are applied in the 2023 external financial reporting.

Background for the updated outlook

The outlook for Hiab and MacGregor businesses, which was originally published on 1 February 2024, has not been amended. As the Demerger is expected to be completed on 30 June 2024, the Kalmar business has been removed from Cargotec’s outlook for 2024. For further information, please contact:

Mikko Puolakka, CFO, tel. +358 20 777 4000Aki Vesikallio, Vice President, Investor Relations, tel. +358 40 729 1670 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 has signed the United Nations Global Compact Business Ambition for 1.5°C. The company's sales in 2023 totalled approximately EUR 4.6 billion and it employs around 11,300 people. www.cargotec.com