Cargotec exceeded expectations in its latest quarterly results, reporting a significant increase in profits. The company is preparing to list Kalmar as its own separate entity, with discussions also ongoing about the potential divestment of MacGregor.
Investors were eager to learn more about the future of Cargotec’s business units in addition to the profit figures. The company’s turnover for January-March was higher than expected, reaching 1,056 million euros and operating profit of EUR 119.6 million surpassed analyst forecasts.
CEO Casimir Lindholm expressed satisfaction with the strong start to the year and highlighted the cost-saving measures that have supported Cargotec’s performance. Despite the challenging operating environment, Cargotec delivered its best first quarter results in history.
Kalmar’s demand remained stable, with an increase in comparable operating profit percentage. Hiab also saw steady demand and improved operating profit while MacGregor received significant orders and grew its order book.
Cargotec plans to continue with the split of Kalmar and Hiab into independent companies by June 30, 2024. The company is now focused on finding a solution for MacGregor and preparing Hiab for operation as a standalone entity. Investors are eagerly awaiting more details on the future plans for MacGregor.
Cargotec has reported a significant increase in profits for its latest quarterly results, exceeding analyst expectations by achieving an operating profit of EUR 119.6 million and turning over EUR 1,056 million during January-March period.
The CEO expressed satisfaction with this strong start to the year and highlighted cost-saving measures that contributed to this success despite challenging conditions.
Kalmar’s demand remained stable while Hiab saw steady demand and improved operating profit margin; MacGregor grew its order book significantly during this period.
Cargotec plans to continue splitting Kalmar and Hiab into independent companies by June 30th 2024 while focusing on finding solutions for MacGregor and preparing Hiab for standalone operation.
Investors are eagerly waiting more information on what will happen next with MacGregor after Cargotec announced that it will list Kalmar as a separate entity by end of June.
