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Cargotec updates 2024 Outlook due to Finalization of Kalmar Demerger

Vehicles |Industry

Cargotec is completing a partial demerger, making Kalmar a separate company from June 30, 2024

1094 views | Date: June 26, 2024

Cargotec updates 2024 Outlook due to Finalization of Kalmar Demerger

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Helsinki, Finland- Cargotec Corporation., an Industrial Machinery Manufacturing, announced on 26 June 2024 that Cargotec's Board of Directors has decided to complete the partial demerger, separating Kalmar as a new company, effective June 30, 2024. This decision has prompted Cargotec to update its 2024 to take the anticipated completion of the Demerger into account.

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.

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.