Cargotec Oyj

Latest Results (01.07.2026):

Cargotec Oyj — reporting full‑year 2024 results (including Q4 2024). For FY2024 the company (continuing operations, i.e. Hiab) delivered sales of EUR 1,647m (‑8% y/y), orders received of EUR 1,509m (+3% y/y), and comparable operating profit of EUR 217m (‑1% y/y), representing a comparable operating margin of 13.2%. The year also included completion of the Kalmar demerger, a signed agreement to sell MacGregor (enterprise value EUR 480m, expected close by 1 July 2025), and a Board proposal to rename the remaining company to Hiab in 2025.

Revenue and sales mix

Sales (continuing operations) were EUR 1,647m, down ~8% vs 2023. Service sales grew to EUR 462m and accounted for ~28% of total sales. Eco‑portfolio sales were EUR 476m (~29% of sales), reflecting continued product mix shift toward lower‑emission offerings.

Orders and order book

Orders received were EUR 1,509m, up ~3% year‑on‑year and driven by the Americas. The order book declined ~19% to EUR 648m by year‑end.

Profitability and returns

Comparable operating profit (continuing operations) was EUR 217m, a ~1% decline from 2023, while the comparable operating margin improved to 13.2%. Hiab (as the continuing business) reported strong operative ROCE (~30.5% LTM) and Hiab’s business area comparable operating profit was EUR 245m (14.9% margin).

Corporate actions and structure

The partial demerger separating Kalmar was completed (registration 30 June 2024). In November 2024 Cargotec signed an agreement to sell MacGregor to funds managed by Triton (EV EUR 480m; closing expected by 1 July 2025). The Board proposes renaming the remaining company from Cargotec to Hiab (effective 1 April 2025) and appointing Hiab’s president as CEO.

Sustainability and safety

Total absolute greenhouse gas emissions from continuing operations fell ~21% to 1,013,059 (vs 1,289,642 in 2023), with emissions intensity also improving. Lost‑time injuries remained low (21 vs 22 in 2023) and Hiab continued to expand low‑emission and electric product offerings.

Shareholder returns

The 2024 Annual General Meeting approved a dividend for FY2023. For FY2024 the Board proposed a dividend (per B share) and an additional conditional dividend contingent on the closing of the MacGregor sale; details are subject to shareholder approval and closing conditions.