Brief: Cargotec Reiterates Outlook For 2024

Hiab Oyj

30/04/2024 07:16

April 30 (Reuters) - Cargotec Corp  CGCBV.HE :
    * OUTLOOK REITERATED
    * WE DELIVERED BEST Q1 IN CARGOTEC'S HISTORY
    * WE FORESEE EUR 60 MILLION ANNUAL SAVINGS FOR CARGOTEC IN
TOTAL
IN 2024 INSTEAD OF ORIGINAL ESTIMATE OF EUR 50 MILLION
    * Q1 ORDER BOOK AMOUNTED TO EUR 1,799 (31 DEC 2023: 1,788)
MILLION
    * Q1 KALMAR'S SALES DECLINED BY 10 PERCENT FROM PREVIOUS
YEAR AND
AMOUNTED TO EUR 439 MILLION, IMPACTED BY LOWER ORDER INTAKE IN
SECOND HALF OF LAST YEAR
    * Q1 KALMAR'S COMPARABLE OPERATING PROFIT MARGIN INCREASED
TO 13.5
PERCENT AS COST SAVING ACTIONS ANNOUNCED IN OCTOBER LAST YEAR
OFFSET DECLINE IN SALES
    * HIAB'S SALES DECREASED SLIGHTLY TO EUR 415 MILLION WHILE
SERVICE
SALES CONTINUED TO GROW
    * MACGREGOR'S SALES INCREASED BY 29 PERCENT TO EUR 203
MILLION,
DRIVEN BY INCREASED DELIVERIES TO MERCHANT VESSELS
    * REDUCTION OF NET DEBT TO EUR 57 MILLION

Source text for Eikon:  ID:nGNE71Kc2v 
Further company coverage:  CGCBV.HE 

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