Slide 1: Disclaimer
Disclaimer This report provides estimates on future prospects involving risk and uncertainty factors, and other factors as a result of which the performance, operation or achievements of Cargotec may substantially deviate from the estimates. Forward- looking statements relating to future prospects a
Slide 2: Good performance in an exceptional year
4 February 2021 Good performance • Positive trend continued since May in an exceptional • Satisfactory comparable operating profit margin year • Service business resilient • Share of eco-efficiency sales increased • Merger with Konecranes Cargotec’s financial statements review 2020 resolved by EGM M
Slide 3: Contents
Contents ● 2020 Highlights ● Market environment ● Group level development ● Business areas ● Financials, dividend proposal and outlook 3
Slide 4: Highlights of 2020 – We secured our profitability in exceptional year
Highlights of 2020 – We secured our profitability in exceptional year Orders received decreased by 16% ● Hiab and Kalmar’s mobile equipment recovered towards the end of the year ● Postponements in larger orders Sales decreased by 11% ● Driven by decline in Hiab and Kalmar’s mobile equipment ● Servic
Slide 5: Kalmar's equipment running hours in Europe above pre-covid level
Kalmar’s equipment running hours in Europe above pre-covid level +2% +0% 0% -3% -3% -32% Kalmar Mobile Solutions: Change in amount of total running hours of the connected fleet. 25-31 January compared to Jan & Feb 2020 average. -12% Hiab: +7% Activity index of connected loader cranes. 24-30 January
Slide 6: Market environment
Global container throughput1 – Key driver for Kalmar Market environment -2.1% Number of containers handled back on growth track ● Q4 container throughput +2.9% Construction output2 – Key driver for Hiab ● FY 2021 estimate +8.9% United States Europe Construction activity is expected -6.0% -8.6% to in
Slide 7: Strong orders received in Hiab's and in Kalmar's smaller equipment in Q4
Strong orders received in Hiab’s and in Kalmar’s smaller equipment in Q4 MEUR -16% -48% (y/y) +30% (y/y) 0% (y/y) Cargotec’s financial statements review 2020 | 4 February 2021 7
Slide 8: Order book grew from the third quarter
Order book grew from the third quarter Order book Order book by reporting MEUR segment, 31 Dec 2020 46% 26% 28% Cargotec’s financial statements review 2020 | 4 February 2021 8
Slide 9: Recovery continued in sales and comparable operating profit
Recovery continued in sales and comparable operating profit - Q4 the strongest quarter in 2020 Sales Comparable operating profit MEUR MEUR x *) Including Corporate admin and support Cargotec’s financial statements review 2020 | 4 February 2021 9
Slide 10: Service and software business resilient
Service and software business resilient Service and software* sales Q4/2020 service sales -8% MEUR ● Kalmar -4% ● Hiab -5% ● MacGregor -18% Software sales -5% in Q4/2020 Service and software 35% of total sales *Software sales defined as strategic business unit Navis and automation software Cargotec’
Slide 11: Share of eco-efficiency portfolio sales increased to 24%
Share of eco-efficiency portfolio sales increased to 24% ● Share of eco-efficiency sales increased in all business areas ● 2021 sales growth target already achieved ● Examples of orders announced in 2020: ○ 20 hybrid shuttle carriers to Port of Virginia ○ 8 fully electric medium forklift trucks to A
Slide 12: Business areas
Business areas Cargotec’s financial statements review 2020 Cargotec’s January-March 2020 interim report 23/4/2020 12
Slide 13: Kalmar Q4 – Good progress in Mobile Equipment
Kalmar Q4 – Good progress in Mobile Equipment Strong orders in Mobile Equipment MEUR Q4/20 Q4/19 Change offset by decline in Automation & Orders received 445 446 0% Projects Order book 842 1,049 -20% To be updated Sales 411 471 -13% Sales decreased by 13% ● Increase in Automation & Projects Comparab
Slide 14: Hiab Q4 – All time high in orders received
Hiab Q4 – All time high in orders received Orders received and order book MEUR Q4/20 Q4/19 Change surged Orders received 417 322 30% Order book 503 406 24% Sales decreased by 20% Sales 295 368 -20% ● Service sales -5% Comparable operating 41 52 -21% Comparable operating profit profit decreased due t
Slide 15: MacGregor Q4 – Navigating the difficult market situation
MacGregor Q4 – Navigating the difficult market situation Orders received decreased in Merchant, Offshore and Services MEUR Q4/20 Q4/19 Change Orders received 100 193 -48% Sales decreased by 5% Order book 480 633 -24% ● Service sales -18% Sales 168 176 -5% To be updated Comparable Comparable operatin
Slide 16: Financials, dividend proposal and outlook
Financials, dividend proposal and outlook Cargotec’s financial statements review 2020 Cargotec’s January-March 2020 interim report 23/4/2020 16
Slide 17: Key figures – Relative profitability at the comparison period's level in Q4
Key figures – Relative profitability at the comparison period’s level in Q4 Q4/20 Q4/19 Change 2020 2019 Change Orders received, MEUR 963 962 0% 3,121 3,714 -16% Order book, MEUR 1,824 2,089 -13% 1,824 2,089 -13% Sales, MEUR 873 1,015 -14% 3,263 3,683 -11% Comparable operating profit, MEUR 64 74 -14
Slide 18: Strong cash flow supported by net working capital reduction
Strong cash flow supported by net working capital reduction Cash flow from operations before financing items and taxes MEUR Cargotec’s financial statements review 2020 | 4 February 2021 18
Slide 19: Strong financial position and liquidity
Strong financial position and liquidity Net debt & gearing Total liquidity, 31 December 2020 MEUR *Cargotec adopted the IFRS 16 standard on 1 Jan 2019. Cargotec’s financial statements review 2020 | 4 February 2021 19
Slide 20: Balanced debt portfolio
Balanced debt portfolio Loan structure, 31 December 2020 Repayment schedule of interest-bearing liabilities 0% MEUR 36% 64% Cargotec’s financial statements review 2020 | 4 February 2021 20
Slide 21: Dividend of 1.08 EUR in 2020
Dividend of 1.08 EUR in 2020 Maximum of EUR 70 million profit distribution agreed in the merger plan Cargotec’s Board of Director’s proposes to the AGM to be held on 23 March 2021: ● Dividend of 1.08 per class B share ● Record date 25 March 2021 ● Payment date 1 April 2021 Calculated from EPS excl.
Slide 22: Outlook for 2021
Outlook for 2021 Cargotec estimates 2021 comparable operating profit to improve compared to 2020 (EUR 228 million*) *Cargotec changed the definition of the alternative performance measure comparable operating profit starting from 1 January 2021 to align it with the definition used in the merger pros
Slide 23: Let's reduce CO2 emissions at least percent by 2030
Let’s reduce CO, emissions at least 50 percent by 2030. This is critical for limiting global warming to 1.5 degrees.
Slide 24: Cargotec
& CARGOTEC