Cargotec publishes restated 2023 financial report, Kalmar separates on June 30, 2024

Cargotec Corporation has approved a plan to split its Kalmar business into a separate company, scheduled for completion on June 30, 2024, pending approval at the Annual General Meeting on May 30, 2024. Major shareholders, holding about 41% of shares and 75% of votes, support the split.

As a result, Cargotec will classify Kalmar as discontinued operations from the first quarter of 2024, presenting restated financials for 2023 for comparison.

Under this classification, Kalmar’s results will be reported separately from ongoing operations, with no changes to the consolidated balance sheet.

Financial report for 2023

Cargotec also released its restated financial information for 2023. The key figures for Cargotec in 2023 show a total sales of approximately EUR 4.6 billion, with around 11,400 employees.

The operating profit percentages for the different business areas varied throughout the year, with Kalmar at 12.9%, Hiab at 14.1%, and MacGregor at 4.3%.

Additionally, the number of employees at the end of each quarter differed across the business areas, with Kalmar having the highest number of employees compared to Hiab and MacGregor.

Read the full restated financial report HERE.