Cargotec Oyj

Latest Results (03.01.2025):

Record Sales and Profitability

Cargotec Oyj reported a record year in sales and profitability for the full year 2023. The company's sales increased by 12 percent, reaching EUR 4,569 million. This growth was driven by strong performance across its business segments, including service sales and eco portfolio sales, which also reached all-time high levels.

Improved Operating Profit

The comparable operating profit for Cargotec Oyj in 2023 saw a significant increase of 62 percent, amounting to EUR 513 million. This improvement was attributed to higher sales, effective management of inflationary pressures, and a successful turnaround in the MacGregor segment, representing 11.2 percent of the consolidated sales.

Fourth Quarter Highlights

In the fourth quarter of 2023, Cargotec Oyj's sales amounted to EUR 1,193 million, with a comparable operating profit of EUR 111 million. The demand for solutions stabilized and improved by 11 percent from the third quarter, contributing to a strong finish for the year.

Dividends and Financial Position

Cargotec Oyj's Board of Directors proposed a record dividend of EUR 2.14 for each class A share and EUR 2.15 for each outstanding class B share, corresponding to a 40 percent payout ratio. The company's strong balance sheet, with a gearing of only 10.2 percent, provides a solid foundation for future growth and the planned standalone future of its businesses.

Outlook for 2024

Looking ahead to 2024, Cargotec Oyj estimates that Hiab's comparable operating profit margin will be above 12 percent, Kalmar's above 11 percent, and MacGregor's comparable operating profit will improve from 2023. The company is focused on executing the planned partial demerger and addressing challenges in the MacGregor segment while maintaining a strong financial position.