Cargotec shares jump, MacGregor's profitability in focus

Hiab Oyj

08/08/2024 09:28

** Shares in Cargotec rise 7.5% as performance of its unit
MacGregor surprised to the positive 
    ** "Cargotec's Q2 numbers were roughly in line in terms of
orders and revenue, but MacGregor's profitability in particular
surprised positively," Inderes analyst Erkki Vesola says 
    ** The group's comparable operating profit came a tad higher
than analysts estimates compiled by Vara Research, and included
Macgregor's part of EUR 21.4 mln, which more than doubled
year-on-year     
    ** Cargotec specified its guidance and now sees MacGregor's
comparable operating profit in 2024 at above EUR 55 million, and
raised Hiab's comparable operating profit margin outlook to
>13.5% from >12%
    ** The group, which has started a sales process of
MacGregor, said in the report that it continues to aim to find a
solution for the subsidiary in 2024
    ** Cargotec stock, on track for its best day since
end-April, is among top performers on pan-European STOXX 600
 .STOXX  index

 (Reporting by Elviira Luoma)
 ((Elviira.luoma@thomsonreuters.com))