Cargotec surpassed expectations with its latest quarterly results, posting a significant increase in profits. The company is set to list Kalmar as its own separate entity by the end of June, while discussions continue 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 reported an operating profit of EUR 119.6 million for January-March, higher than analyst forecasts, and a turnover of 1,056 million euros.
Casimir Lindholm, CEO of Cargotec, expressed satisfaction with the strong start to the year and highlighted the company’s cost-saving measures that have supported its performance. Despite challenging operating conditions, 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.
