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Cargotec publishes new performance targets for its core businesses

Cargotec Corporation
Cargotec Corporation

CARGOTEC CORPORATION, INSIDE INFORMATION, 15 NOVEMBER 2022 AT 9:00 AM EET

Cargotec publishes new performance targets for its core businesses

Cargotec publishes new performance targets for its core businesses Hiab and Kalmar ahead of the capital markets day, which will be held today on 15 November starting at 13:30 (EET).

Cargotec’s Board of Directors has set the following performance targets:

  • Eco portfolio sales: double the growth compared to traditional products

  • Reduce CO2 emissions in Cargotec’s value chain1 by 25% by 2025 and by 50% by 2030

  • Sales growth faster than market2

  • Comparable operating profit 12% by 2025 and 15% by 2030

1) Scopes 1, 2 & 3, compared to 2019
2) global GDP, IMF World Economic Outlook, current prices

Cargotec also aims for a growing dividend 30–50% of EPS and to keep gearing below 50%.

“The ambitious performance targets demonstrate our commitment to the strategy and our strong belief that sustainability is driving the growth in our industry. We will keep investing in innovation to solve customers’ sustainability challenges. We will drive increasing recurring revenues, actively seek organic and inorganic growth opportunities and aim for the highest ESG standards in our industry,” says Cargotec’s CEO Mika Vehviläinen.

More detailed information on the new performance targets will be provided at the capital markets day which can be followed online at cargotec.videosync.fi/2022-cmd, starting at 13.30. Questions can be submitted during the presentations. The presentation material will be available at Cargotec’s website www.cargotec.com/cmd22.

For more information, please contact:
Mikko Puolakka, CFO, tel. +358 20 777 4105
Carina Geber-Teir, Senior Vice President, Communications, tel. +358 20 777 4105

Information for investors:
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 United Nations Global Compact Business Ambition for 1.5°C. The company's sales in 2021 totalled approximately EUR 3.3 billion and it employs around 11,500 people.