Cargotec Corp (OTC) ( (CYJBF) ) has released its Q4 earnings. Here is a breakdown of the information Cargotec Corp (OTC) presented to its investors.
Cargotec Corporation, a key player in the industrial machinery sector, specializes in smart and sustainable load-handling solutions, primarily through its Hiab business area. The company is undergoing significant transformation with strategic divestments and restructurings.
In its 2024 earnings report, Cargotec highlighted a successful year of transformation, achieving major milestones such as the separation and listing of its Kalmar business and signing a sales agreement for its MacGregor unit. Despite a challenging market environment, the company reported a 3% increase in orders received, driven by strong performance in the Americas.
Key financial metrics for 2024 showed a mixed performance. While orders increased and service sales grew by 2%, overall sales decreased by 8% compared to the previous year. The company’s operating profit stood at EUR 217 million, slightly down by 1% from 2023, reflecting effective cost management amidst declining sales. Significant strategic moves included the sale of the MacGregor business and a focus on Hiab’s standalone growth.
Looking ahead, Cargotec is optimistic about its future as it transitions to Hiab as a standalone entity. The company plans to leverage its strong market position and strategic initiatives to drive growth and improve profitability. Management remains confident in achieving a 16% comparable operating profit margin by 2028, supported by ongoing investments in productivity and innovation.