Cargotec’s restated financial information for 2023, Kalmar will be presented as discontinued operations due to the proposed demerger
CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 8 APRIL 2024 AT 10:00 AM (EEST)
Cargotec’s restated financial information for 2023, Kalmar will be presented as discontinued operations due to the proposed demerger
As announced in a stock exchange release on 1 February 2024, the Board of Directors of Cargotec Corporation (“Cargotec”) has approved a demerger plan concerning the separation of the Kalmar business area into an independent listed company (the “Demerger”). The planned completion date of the Demerger is 30 June 2024. The Demerger is subject to approval by the Annual General Meeting of Cargotec to be held on 30 May 2024. Certain major shareholders of Cargotec, including Wipunen varainhallinta oy, Mariatorp Oy, Pivosto Oy and Kone Foundation, holding in the aggregate approximately 41 percent of the shares and approximately 75 percent of the votes in Cargotec, have indicated their support for the proposed Demerger.
Due to the proposed Demerger, Cargotec presents the Kalmar business area as discontinued operations under IFRS 5 Non-current Assets held for Sale and Discontinued operations starting from the first quarter of 2024 and publishes restated quarterly financial information on its 2023 financials. These restated financials constitute comparative information for Cargotec when the Kalmar business area is presented as discontinued operations.
Under IFRS 5, the result from discontinued operations is reported separately from continuing operations’ income and expenses in the consolidated statement of income. Comparative periods are restated accordingly. The consolidated balance sheet is not restated. The presented discontinued operations include revenue and operating expenses directly related to the Kalmar business area and other income and costs related to continuing operations that are not expected to continue after the Demerger, or would have been avoided without the Demerger. As a result, financial information presented for Cargotec as continuing and Kalmar business area as discontinued operations do not reflect the past or future profitability of either business on a stand-alone basis before the Demerger or after it.
The restated financial information included in this release is unaudited.
Cargotec Corporation
For further information, please contact:
Mikko Puolakka, CFO, tel. +358 20 777 4105
Aki Vesikallio, Vice President, Investor Relations, tel. +358 40 729 1670
Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimise global cargo flows and create sustainable customer value. Cargotec has signed the United Nations Global Compact Business Ambition for 1.5°C. The company's sales in 2023 totalled approximately EUR 4.6 billion and it employs around 11,400 people. www.cargotec.com
Cargotec’s key figures 2023
| Restated | |||||
| MEUR | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| Continuing operations | |||||
| Orders received | 588 | 562 | 522 | 610 | 2,282 |
| Service orders received | 219 | 190 | 183 | 194 | 787 |
| Order book, end of period | 2,078 | 1,961 | 1,894 | 1,788 | 1,788 |
| Sales | 589 | 648 | 598 | 684 | 2,519 |
| Service sales | 200 | 201 | 197 | 208 | 806 |
| Service sales, % of sales | 34% | 31% | 33% | 30% | 32% |
| Eco portfolio sales | 186 | 217 | 192 | 202 | 797 |
| Eco portfolio sales, % of sales | 32% | 33% | 32% | 30% | 32% |
| Operating profit | 41.7 | 78.6 | 76.7 | 39.0 | 236.0 |
| Operating profit, % | 7.1% | 12.1% | 12.8% | 5.7% | 9.4% |
| Comparable operating profit | 49.7 | 80.6 | 60.9 | 45.5 | 236.7 |
| Comparable operating profit, % | 8.4% | 12.4% | 10.2% | 6.7% | 9.4% |
| Profit before taxes | 35.4 | 74.0 | 73.9 | 36.2 | 219.5 |
| Profit for the period | 23.7 | 54.7 | 62.2 | 21.7 | 162.4 |
| Basic earnings per share, EUR | 0.37 | 0.85 | 0.97 | 0.31 | 2.49 |
| Discontinued operations | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| Orders received | 471 | 437 | 392 | 405 | 1,705 |
| Service orders received | 143 | 136 | 129 | 137 | 545 |
| Order book, end of period | 1,389 | 1,281 | 1,172 | 1,024 | 1,024 |
| Sales | 485 | 552 | 503 | 509 | 2,049 |
| Service sales | 146 | 143 | 137 | 147 | 574 |
| Service sales, % of sales | 30% | 26% | 27% | 29% | 28% |
| Eco portfolio sales | 160 | 181 | 175 | 202 | 718 |
| Eco portfolio sales, % of sales | 33% | 33% | 35% | 40% | 35% |
| Operating profit | 62.3 | 71.9 | 63.6 | 50.0 | 247.8 |
| Operating profit, % | 12.8% | 13.0% | 12.6% | 9.8% | 12.1% |
| Comparable operating profit | 62.7 | 77.7 | 70.6 | 65.7 | 276.7 |
| Comparable operating profit, % | 12.9% | 14.1% | 14.0% | 12.9% | 13.5% |
| Profit before taxes | 60.3 | 67.1 | 60.4 | 45.7 | 233.5 |
| Profit for the period | 48.9 | 52.9 | 44.8 | 39.6 | 186.2 |
| Basic earnings per share, EUR | 0.76 | 0.82 | 0.70 | 0.62 | 2.89 |
| Published | |||||
| Cargotec total | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| Orders received | 1,059 | 999 | 914 | 1,015 | 3,987 |
| Service orders received | 362 | 326 | 312 | 331 | 1,331 |
| Order book, end of period | 3,467 | 3,242 | 3,065 | 2,812 | 2,812 |
| Sales | 1,074 | 1,200 | 1,102 | 1,193 | 4,569 |
| Service sales | 346 | 344 | 334 | 355 | 1,379 |
| Service sales, % of sales | 32% | 29% | 30% | 30% | 30% |
| Eco portfolio sales | 346 | 397 | 367 | 404 | 1,515 |
| Eco portfolio sales, % of sales | 32% | 33% | 33% | 34% | 33% |
| Operating profit | 104.0 | 150.5 | 140.3 | 89.0 | 483.8 |
| Operating profit, % | 9.7% | 12.5% | 12.7% | 7.5% | 10.6% |
| Comparable operating profit | 112.4 | 158.3 | 131.5 | 111.2 | 513.3 |
| Comparable operating profit, % | 10.5% | 13.2% | 11.9% | 9.3% | 11.2% |
| Profit before taxes | 95.7 | 141.0 | 134.3 | 81.9 | 453.0 |
| Profit for the period | 72.6 | 107.7 | 107.1 | 61.3 | 348.7 |
| Basic earnings per share, EUR | 1.13 | 1.67 | 1.66 | 0.92 | 5.38 |
| Cash flow from operations before finance items and taxes | 26.5 | 41.2 | 184.4 | 292.1 | 544.2 |
| Interest-bearing net debt, end of the period | 393 | 503 | 406 | 179 | 179 |
| Gearing, % | 26.4% | 31.9% | 24.2% | 10.2% | 10.2% |
| Interest-bearing net debt / EBITDA* | 1.0 | 5.1 | 4.4 | 5.7 | 0.3 |
| Return on capital employed (ROCE), last 12 months, % | 7.5% | 4.3% | 3.7% | 4.8% | 19.9% |
| Personnel at the end of the period | 11,640 | 11,745 | 11,786 | 11,391 | 11,391 |
| *Last 12 months` EBITDA | |||||
Consolidated statement of income (restated)
| MEUR | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| Sales | 588.8 | 648.2 | 598.4 | 684.0 | 2,519.4 |
| Cost of goods sold | -455.9 | -479.2 | -455.2 | -532.7 | -1,923.0 |
| Gross profit | 132.9 | 169.1 | 143.3 | 151.3 | 596.5 |
| Gross profit, % | 22.6% | 26.1% | 23.9% | 22.1% | 23.7% |
| Selling and marketing expenses | -30.8 | -31.8 | -30.5 | -34.9 | -128.0 |
| Research and development expenses | -10.3 | -11.0 | -10.3 | -12.8 | -44.4 |
| Administration expenses | -47.7 | -45.9 | -45.9 | -58.7 | -198.2 |
| Restructuring costs | -3.3 | -1.7 | -2.0 | -6.4 | -13.4 |
| Other operating income | 1.9 | 1.9 | 3.3 | 1.6 | 8.7 |
| Other operating expenses | -1.0 | -1.9 | 17.8 | -2.2 | 12.7 |
| Share of associated companies' and joint ventures' net result | 0.0 | 0.0 | 0.9 | 1.1 | 2.1 |
| Operating profit | 41.7 | 78.6 | 76.7 | 39.0 | 236.0 |
| Operating profit, % | 7.1% | 12.1% | 12.8% | 5.7% | 9.4% |
| Finance income | 1.3 | 0.7 | 2.0 | 3.1 | 7.0 |
| Finance expenses | -7.5 | -5.3 | -4.8 | -5.9 | -23.5 |
| Profit before taxes | 35.4 | 74.0 | 73.9 | 36.2 | 219.5 |
| Profit before taxes, % | 6.0% | 11.4% | 12.4% | 5.3% | 8.7% |
| Income taxes | -11.7 | -19.3 | -11.7 | -14.5 | -57.1 |
| Profit for the period, continuing operations | 23.7 | 54.7 | 62.2 | 21.7 | 162.4 |
| Profit for the period, continuing operations, % | 4.0% | 8.5% | 10.4% | 2.9% | 6.4% |
| Profit for the period, discontinued operations | 48.9 | 52.9 | 44.8 | 39.6 | 186.2 |
| Profit for the period | 72.6 | 107.7 | 107.1 | 61.3 | 348.7 |
| Profit for the period, % | 12.3% | 16.6% | 17.9% | 9.0% | 13.8% |
| Profit for the period attributable to: | |||||
| Shareholders of the parent company | 72.7 | 107.7 | 107.2 | 59.2 | 346.9 |
| Non-controlling interest | -0.1 | -0.1 | -0.1 | 2.1 | 1.8 |
| Total | 72.6 | 107.7 | 107.1 | 61.3 | 348.7 |
| Earnings per share for profit attributable to the shareholders of the parent company: | |||||
| Basic earnings per share, EUR | |||||
| Continuing operations | 0.37 | 0.85 | 0.97 | 0.31 | 2.49 |
| Discontinued operations | 0.76 | 0.82 | 0.70 | 0.62 | 2.89 |
| Diluted earnings per share, EUR | |||||
| Continuing operations | 0.37 | 0.85 | 0.96 | 0.31 | 2.48 |
| Discontinued operations | 0.76 | 0.82 | 0.69 | 0.62 | 2.88 |
Consolidated statement of comprehensive income (restated)
| MEUR | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| Profit for the period | 72.6 | 107.7 | 107.1 | 61.3 | 348.7 |
| Other comprehensive income | |||||
| Items that cannot be reclassified to statement of income: | |||||
| Actuarial gains (+) / losses (-) from defined benefit plans | 0.2 | 0.7 | -0.1 | -8.2 | -7.4 |
| Taxes relating to items that cannot be reclassified to statement of income | 0.0 | -0.1 | 0.0 | 1.7 | 1.5 |
| Items that can be reclassified to statement of income: | |||||
| Gains (+) / losses (-) on cash flow hedges | 9.2 | -12.3 | -9.5 | 32.5 | 19.9 |
| Gains (+) / losses (-) on cash flow hedges transferred to statement of income | -6.8 | 2.0 | 2.1 | -16.4 | -19.2 |
| Translation differences | -30.1 | -14.0 | 18.0 | 3.6 | -22.5 |
| Taxes relating to items that can be reclassified to statement of income | -1.0 | 1.9 | 1.6 | -3.0 | -0.5 |
| Share of other comprehensive income of associates and JV, net of tax | 0.7 | 0.0 | 0.0 | 0.0 | 0.7 |
| Other comprehensive income, net of tax | -27.9 | -21.8 | 12.2 | 10.1 | -27.4 |
| Comprehensive income for the period | 44.7 | 85.8 | 119.2 | 71.5 | 321.2 |
| Comprehensive income for the period attributable to: | |||||
| Shareholders of the parent company | 44.8 | 85.8 | 119.4 | 69.4 | 319.5 |
| Non-controlling interest | -0.1 | 0.0 | -0.1 | 2.1 | 1.7 |
| Total | 44.7 | 85.8 | 119.2 | 71.5 | 321.2 |
| Comprehensive income for the period attributable to the shareholders of the parent company | |||||
| Continuing operations | -6.2 | 36.7 | 76.8 | 28.2 | 135.6 |
| Discontinued operations | 51.1 | 49.1 | 42.6 | 41.1 | 183.9 |
| Total | 44.8 | 85.8 | 119.4 | 69.4 | 319.5 |
Segment information
| Sales, MEUR | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| Kalmar | 485 | 552 | 503 | 509 | 2,050 |
| Hiab | 432 | 485 | 420 | 450 | 1,787 |
| MacGregor | 157 | 164 | 179 | 234 | 733 |
| Internal sales | 0 | 0 | 0 | 0 | 0 |
| Cargotec total, published | 1,074 | 1,200 | 1,102 | 1,193 | 4,569 |
| Adjustment items related to discontinued operations | 485 | 552 | 503 | 509 | 2,049 |
| Continuing operations total, restated | 589 | 648 | 598 | 684 | 2,519 |
| Published | |||||
| Sales by geographical area, MEUR | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| EMEA | 512 | 532 | 473 | 542 | 2,059 |
| Americas | 412 | 468 | 426 | 412 | 1,717 |
| Asia-Pacific | 151 | 199 | 203 | 240 | 792 |
| Cargotec total | 1,074 | 1,200 | 1,102 | 1,193 | 4,569 |
| Restated | |||||
| Sales by geographical area, MEUR | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| EMEA | 315 | 335 | 273 | 314 | 1,237 |
| Americas | 176 | 198 | 194 | 198 | 766 |
| Asia-Pacific | 97 | 115 | 132 | 172 | 516 |
| Continuing operations total | 589 | 648 | 598 | 684 | 2,519 |
| Published | |||||
| Sales by geographical area, % | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| EMEA | 48% | 44% | 43% | 45% | 45% |
| Americas | 38% | 39% | 39% | 35% | 38% |
| Asia-Pacific | 14% | 17% | 18% | 20% | 17% |
| Cargotec total | 100% | 100% | 100% | 100% | 100% |
| Restated | |||||
| Sales by geographical area, % | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| EMEA | 54% | 52% | 46% | 46% | 49% |
| Americas | 30% | 30% | 32% | 29% | 30% |
| Asia-Pacific | 16% | 18% | 22% | 25% | 20% |
| Continuing operations total | 100% | 100% | 100% | 100% | 100% |
| Cargotec total | Published | ||||
| Operating profit and EBITDA, MEUR | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| Kalmar | 62.8 | 78.4 | 64.1 | 58.9 | 264.2 |
| Hiab | 61.4 | 81.5 | 61.5 | 47.8 | 252.1 |
| MacGregor | -7.4 | 8.2 | 24.3 | 6.7 | 31.8 |
| Corporate administration and support functions | -12.8 | -17.6 | -9.6 | -24.3 | -64.4 |
| Operating profit | 104.0 | 150.5 | 140.3 | 89.0 | 483.8 |
| Depreciation, amortisation and impairment* | 28.5 | 28.2 | 29.5 | 28.7 | 114.9 |
| EBITDA | 132.5 | 178.7 | 169.8 | 117.7 | 598.7 |
| *Includes the effects of allocating the acquisition cost of businesses | |||||
| Kalmar | -0.2 | -0.2 | -0.2 | -0.2 | -0.8 |
| Hiab | -0.8 | -0.8 | -0.8 | -0.8 | -3.1 |
| MacGregor | -1.8 | -1.7 | -1.7 | -1.7 | -6.9 |
| Cargotec total | -2.8 | -2.7 | -2.7 | -2.7 | -10.8 |
| Continuing operations | Restated | ||||
| Operating profit and EBITDA, MEUR | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| Operating profit | 41.7 | 78.6 | 76.7 | 39.0 | 236.0 |
| Depreciation, amortisation and impairment | 14.4 | 14.1 | 15.5 | 13.8 | 57.7 |
| EBITDA | 56.0 | 92.7 | 92.2 | 52.8 | 293.7 |
| Operating profit, % | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| Kalmar | 12.9% | 14.2% | 12.7% | 11.6% | 12.9% |
| Hiab | 14.2% | 16.8% | 14.7% | 10.6% | 14.1% |
| MacGregor | -4.7% | 5.0% | 13.6% | 2.8% | 4.3% |
| Cargotec total, published | 9.7% | 12.5% | 12.7% | 7.5% | 10.6% |
| Continuing operations total, restated | 7.1% | 12.1% | 12.8% | 5.7% | 9.4% |
| Items affecting comparability, MEUR | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| Kalmar | |||||
| Restructuring costs | -0.4 | 0.0 | -0.5 | -0.3 | -1.2 |
| Other items affecting comparability | - | - | -6.6 | -7.4 | -14.0 |
| Items affecting comparability, total | -0.4 | 0.0 | -7.1 | -7.7 | -15.2 |
| Hiab | |||||
| Restructuring costs | 0.0 | 0.1 | 0.0 | 0.0 | 0.1 |
| Other items affecting comparability | 0.0 | - | 0.0 | 0.0 | 0.0 |
| Items affecting comparability, total | 0.0 | 0.1 | 0.0 | 0.0 | 0.1 |
| MacGregor | |||||
| Restructuring costs | -3.3 | -1.8 | -2.0 | -6.4 | -13.5 |
| Other items affecting comparability | -4.7 | -0.3 | 17.8 | -0.1 | 12.7 |
| Items affecting comparability, total | -8.0 | -2.1 | 15.8 | -6.5 | -0.8 |
| Corporate administration and support functions | |||||
| Restructuring costs | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Other items affecting comparability | 0.0 | -5.8 | 0.1 | -7.9 | -13.6 |
| Items affecting comparability, total | 0.0 | -5.8 | 0.1 | -7.9 | -13.6 |
| Items affecting comparability, Cargotec total, published | -8.4 | -7.8 | 8.8 | -22.1 | -29.6 |
| Items affecting comparability, continuing operations total, MEUR | |||||
| Restructuring costs | -3.3 | -1.7 | -2.0 | -6.4 | -13.4 |
| Other items affecting comparability | -4.7 | -0.3 | 17.8 | -0.1 | 12.7 |
| Items affecting comparability, continuing operations total | -8.0 | -2.0 | 15.8 | -6.5 | -0.7 |
Comparable operating profit, MEUR | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| Kalmar | 63.2 | 78.4 | 71.2 | 66.6 | 279.4 |
| Hiab | 61.4 | 81.4 | 61.5 | 47.8 | 252.1 |
| MacGregor | 0.7 | 10.3 | 8.5 | 13.1 | 32.6 |
| Corporate administration and support functions | -12.8 | -11.8 | -9.7 | -16.4 | -50.8 |
| Cargotec total, published | 112.4 | 158.3 | 131.5 | 111.2 | 513.3 |
| Continuing operations total, restated | 49.7 | 80.6 | 60.9 | 45.5 | 236.7 |
| Comparable operating profit, % | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| Kalmar | 13.0% | 14.2% | 14.1% | 13.1% | 13.6% |
| Hiab | 14.2% | 16.8% | 14.7% | 10.6% | 14.1% |
| MacGregor | 0.4% | 6.3% | 4.8% | 5.6% | 4.5% |
| Cargotec total, published | 10.5% | 13.2% | 11.9% | 9.3% | 11.2% |
| Continuing operations total, restated | 8.4% | 12.4% | 10.2% | 6.7% | 9.4% |
| Orders received, MEUR | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| Kalmar | 471 | 437 | 392 | 405 | 1,705 |
| Hiab | 380 | 375 | 311 | 401 | 1,466 |
| MacGregor | 208 | 187 | 211 | 209 | 816 |
| Internal orders received | 0 | 0 | 0 | 0 | 0 |
| Cargotec total, published | 1,059 | 999 | 914 | 1,015 | 3,987 |
| Adjustment items related to discontinued operations | 471 | 437 | 392 | 405 | 1,705 |
| Continuing operations total, restated | 588 | 562 | 522 | 610 | 2,282 |
| Orders received by geographical area, MEUR | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| EMEA | 456 | 480 | 431 | 416 | 1,784 |
| Americas | 382 | 328 | 239 | 357 | 1,307 |
| Asia-Pacific | 220 | 191 | 244 | 242 | 896 |
| Cargotec total, published | 1,059 | 999 | 914 | 1,015 | 3,987 |
| Orders received by geographical area, MEUR | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| EMEA | 242 | 263 | 237 | 239 | 981 |
| Americas | 197 | 179 | 133 | 187 | 697 |
| Asia-Pacific | 149 | 120 | 152 | 184 | 604 |
| Continuing operations total, restated | 588 | 562 | 522 | 610 | 2,282 |
| Orders received by geographical area, % | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| EMEA | 43% | 48% | 47% | 41% | 45% |
| Americas | 36% | 33% | 26% | 35% | 33% |
| Asia-Pacific | 21% | 19% | 27% | 24% | 22% |
| Cargotec total, published | 100% | 100% | 100% | 100% | 100% |
| Orders received by geographical area, % | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| EMEA | 41% | 47% | 45% | 39% | 43% |
| Americas | 34% | 32% | 26% | 31% | 31% |
| Asia-Pacific | 25% | 21% | 29% | 30% | 26% |
| Continuing operations total, restated | 100% | 100% | 100% | 100% | 100% |
| Order book, MEUR | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| Kalmar | 1,390 | 1,281 | 1,172 | 1,024 | 1,024 |
| Hiab | 1,121 | 1,007 | 900 | 799 | 799 |
| MacGregor | 956 | 953 | 993 | 988 | 988 |
| Internal order book | 1 | 1 | 1 | 1 | 1 |
| Cargotec total, published | 3,467 | 3,242 | 3,065 | 2,812 | 2,812 |
| Adjustment items related to discontinued operations | 1,389 | 1,281 | 1,172 | 1,024 | 1,024 |
| Continuing operations total, restated | 2,078 | 1,961 | 1,894 | 1,788 | 1,788 |
| Published | |||||
| Number of employees at the end of period | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| Kalmar | 5,024 | 5,087 | 5,101 | 4,907 | 4,907 |
| Hiab | 3,897 | 3,961 | 3,972 | 3,877 | 3,877 |
| MacGregor | 1,975 | 1,935 | 1,945 | 1,853 | 1,853 |
| Corporate administration and support functions | 744 | 762 | 768 | 754 | 754 |
| Cargotec total | 11,640 | 11,745 | 11,786 | 11,391 | 11,391 |
| Published | |||||
| Average number of employees | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| Kalmar | 5,025 | 5,037 | 5,063 | 5,041 | 5,041 |
| Hiab | 3,877 | 3,914 | 3,929 | 3,932 | 3,932 |
| MacGregor | 1,982 | 1,965 | 1,958 | 1,938 | 1,938 |
| Corporate administration and support functions | 746 | 752 | 757 | 758 | 758 |
| Cargotec total | 11,630 | 11,667 | 11,707 | 11,669 | 11,669 |
Capital expenditure, depreciation, amortisation and impairment of continuing operations (restated)
| Capital expenditure, MEUR | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| Owned assets | |||||
| Intangible assets | 0.3 | 1.3 | 0.5 | 0.5 | 2.6 |
| Land and buildings | 0.4 | 0.1 | 1.1 | 0.9 | 2.6 |
| Machinery and equipment | 5.0 | 5.2 | 4.5 | 5.3 | 20.1 |
| Right-of-use assets | |||||
| Land and buildings | 3.1 | 4.2 | 2.6 | 5.3 | 15.3 |
| Machinery and equipment | 3.4 | 3.7 | 3.7 | 4.0 | 14.8 |
| Total | 12.2 | 14.6 | 12.4 | 16.1 | 55.3 |
| Depreciation, amortisation and impairment, MEUR | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| Owned assets | |||||
| Intangible assets | 3.5 | 3.4 | 3.4 | 3.2 | 13.5 |
| Land and buildings | 0.7 | 0.7 | 0.6 | 0.6 | 2.5 |
| Machinery and equipment | 2.8 | 2.6 | 2.7 | 3.3 | 11.5 |
| Right-of-use assets | |||||
| Land and buildings | 4.6 | 4.5 | 5.8 | 3.2 | 18.0 |
| Machinery and equipment | 2.8 | 2.9 | 3.0 | 3.5 | 12.2 |
| Total | 14.4 | 14.1 | 15.5 | 13.8 | 57.7 |
Statement of income for discontinued operations
| MEUR | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| Sales | 485.3 | 551.6 | 503.1 | 509.4 | 2,049.4 |
| Cost of goods sold | -363.1 | -419.3 | -381.4 | -376.8 | -1,540.6 |
| Gross profit | 122.2 | 132.4 | 121.7 | 132.5 | 508.8 |
| Gross profit, % | 25.2% | 24.0% | 24.2% | 26.0% | 24.8% |
| Selling and marketing expenses | -19.9 | -21.8 | -19.8 | -24.0 | -85.5 |
| Research and development expenses | -12.8 | -12.1 | -12.1 | -16.8 | -53.9 |
| Administration expenses | -28.0 | -29.6 | -18.6 | -35.0 | -111.2 |
| Restructuring costs | -0.4 | 0.0 | -0.5 | -0.3 | -1.2 |
| Other operating income | 7.6 | 8.1 | 7.8 | 7.7 | 31.2 |
| Other operating expenses | -8.0 | -7.2 | -16.7 | -17.4 | -49.4 |
| Share of associated companies' and joint ventures' net result | 1.7 | 2.1 | 1.9 | 3.3 | 9.0 |
| Operating profit | 62.3 | 71.9 | 63.6 | 50.0 | 247.8 |
| Operating profit, % | 12.8% | 13.0% | 12.6% | 9.8% | 12.1% |
| Finance income | 1.5 | 1.0 | 1.5 | 1.7 | 5.7 |
| Finance expenses | -3.6 | -5.9 | -4.7 | -5.9 | -20.0 |
| Profit before taxes | 60.3 | 67.1 | 60.4 | 45.7 | 233.5 |
| Profit before taxes % | 12.4% | 12.2% | 12.0% | 9.0% | 11.4% |
| Income taxes | -11.4 | -14.1 | -15.6 | -6.1 | -47.3 |
| Profit for the period, discontinued operations | 48.9 | 52.9 | 44.8 | 39.6 | 186.2 |
| Profit for the period, % | 10.1% | 9.6% | 8.9% | 7.8% | 9.1% |
| Profit for the period attributable to: | |||||
| Shareholders of the parent company | 48.9 | 52.9 | 44.8 | 39.6 | 186.2 |
| Earnings per share for profit attributable to the shareholders of the parent company: | |||||
| Basic earnings per share, EUR | 0.76 | 0.82 | 0.70 | 0.62 | 2.89 |
| Diluted earnings per share, EUR | 0.76 | 0.82 | 0.69 | 0.62 | 2.88 |
Discontinued operations, other information
| Capital expenditure, MEUR | Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 |
| Owned assets | 17.7 | 10.4 | 12.6 | 15.1 | 55.8 |
| Right-of-use assets | 2.6 | 5.2 | 13.3 | 4.7 | 25.9 |
| Total | 20.3 | 15.6 | 26.0 | 19.8 | 81.7 |
| Depreciation, amortisation and impairment, MEUR | |||||
| Owned assets | 10.5 | 10.2 | 9.9 | 10.5 | 41.1 |
| Right-of-use assets | 3.6 | 4.0 | 4.1 | 4.3 | 16.1 |
| Total | 14.1 | 14.2 | 14.1 | 14.9 | 57.2 |
Attachment
