Cargotec Oyj

Latest Results (31.10.2026):

Cargotec Oyj — fourth quarter (Q4) 2024 / full‑year 2024 results (latest in the company’s Annual Report 2024): Cargotec’s continuing operations (effectively Hiab following the group transformation) reported full‑year 2024 sales of EUR 1,647 million (‑8% y/y) with orders received of EUR 1,509 million (+3% y/y). Comparable operating profit for continuing operations was EUR 217 million (13.2% of sales), broadly stable vs prior year, while the order book declined to EUR 648 million (‑19%). The company completed the Kalmar demerger in H2 2024 and signed a sale agreement for MacGregor (enterprise value EUR 480 million) with closing expected by 1 July 2025.

Sales and profitability

Sales (continuing operations): EUR 1,647 million in 2024, down ~8% vs 2023. Comparable operating profit (continuing operations): EUR 217 million, representing a 13.2% margin (a 1% decline in comparable operating profit vs prior year).

Orders and order book

Orders received: EUR 1,509 million in 2024 (+3% vs 2023), driven by growth in the Americas. Order book at year‑end: EUR 648 million (‑19% vs year‑end 2023).

Hiab business performance

Hiab (the continuing business) delivered strong profitability: Hiab business‑area comparable operating profit reported in the report was EUR 245 million (14.9% margin) and Hiab launched 45 new solutions in 2024. Service sales continued to grow to EUR 462 million (≈28% of total sales).

Corporate actions — demerger and MacGregor sale

Partial demerger completing Kalmar as a separately listed company was registered 30 June 2024. In November 2024 Cargotec signed an agreement to sell MacGregor to funds managed by Triton for an enterprise value of EUR 480 million; closing is expected by 1 July 2025. The Board proposes changing the company name to Hiab (effective 1 April 2025) following completion of the transformation.

Capital allocation and shareholder items

The 2024 Annual General Meeting approved distribution of profit for the prior year (dividend related actions were disclosed in the report). The company states that standalone Hiab targets a growing dividend policy and a gearing below 50% going forward (long‑term targets published for Hiab).

Sustainability and operational metrics

Reported total greenhouse gas emissions for continuing operations fell 21% vs 2023 (from 1,289,642 to 1,013,059 in the report’s absolute emissions figures). Eco‑portfolio sales were EUR 476 million (≈29% of sales). Health & safety: lost‑time injuries fell slightly (22 → 21) and the Company reports meeting its 2024 safety target and improved employee engagement survey results (Compass response >82%).

Outlook and strategy points

The report emphasises Hiab’s 2024–2028 strategy: target >7% annual sales growth over the cycle, comparable operating profit ~16% (adjusted to reflect standalone cost base), and >25% return on capital employed. Management highlights North America and services as key growth areas and continued product/service innovation (electrification, connected services, eco portfolio).