Slide 1: Successful execution of Cargotec's transformation according to plan
Successful execution of Cargotec’s • Orders received increased • Book-to-bill was positive in Q4 transformation • Strong full year profitability and according to plan cash flow • Agreement to sell MacGregor Cargotec’s Financial Statements review 2024 signed ● Casimir Lindholm, CEO • Mikko Puolakka,
Slide 2: Disclaimer
Disclaimer The following applies to this presentation, the oral presentation of the information in this presentation by Cargotec Corporation (the “Company” or “Cargotec”) or any person on behalf of the Company, and any question-and-answer session that follows the oral presentation (collectively, the
Slide 3: Contents
Contents ● Group level topics Casimir Lindholm ● Hiab development Scott Phillips ● Financials and outlook Mikko Puolakka ● Q&A Unless otherwise stated, the financial information in this presentation concerns Cargotec’s continuing operations Cargotec’s financial statements review 2024 | 12 February 2
Slide 4: We successfully executed all our 2024 priorities
We successfully executed all our 2024 priorities Continue strong Complete the Ensure solution business separation of for MacGregor performance Kalmar Comparable operating profit Demerger completed Sales agreement signed margin increased on 30 June 2024 on 14 November 2024 Cargotec’s financial statem
Slide 5: Last major milestone achieved in Cargotec's transformation as sale of MacGregor was announced
Last major milestone achieved in Cargotec’s transformation as sale of MacGregor was announced Agreement to sell MacGregor to funds Transformation into standalone Hiab managed by Triton signed on 14 November expected to take place on 1 April 2025 ● EV EUR 480 million ● Name change proposed for AGM ●
Slide 6: All-time high full year comparable operating profit margin
Financial statements review Built to perform 2024 All-time high full year • Orders received increased by 3% comparable operating • Cash conversion >130% profit margin in 2024 • We continue investing in Hiab Q4/24 growth and profitability improvements 6
Slide 7: Stable demand continued
Financial statements review Built to perform 2024 Stable demand continued Orders received and order book MEUR MEUR Q4/24 Q4/23 Change 2024 2023 Change Orders received 414 401 3% 1,509 1,466 3% Order book 648 799 -19% - Underlying demand remained stable - Key account orders and a EUR 13 million defen
Slide 8: Service sales continued to grow, equipment sales declined as order book normalised
Financial statements review Built to perform 2024 Service sales continued to grow, equipment sales declined as order book normalised Sales and service sales MEUR MEUR Q4/24 Q4/23 Change 2024 2023 Change Sales 412 450 -8% 1,647 1,787 -8% Service sales 118 114 4% 462 452 2% Service sales, % 29% 25% 40
Slide 9: All-time high full year comparable operating profit margin despite lower sales
Financial statements review Built to perform 2024 All-time high full year comparable operating profit margin despite lower sales Comparable operating profit as business area MEUR MEUR Q4/24 Q4/23 Change 2024 2023 Change Comparable operating profit 48 48 0% 245 252 -3% Comparable operating profit, % 11.6
Slide 10: We continue to invest in growth and profitability improvements
Financial statements review Built to perform 2024 We continue to invest in growth and profitability improvements EFFER MOFFETT HIAB Production optimisation in Italy New factory in Ireland Customer service center for UK Hiab streamlines production setup in Italy. Purpose The new facility in Dundalk ad
Slide 11: Major developments in our strategic focus areas
Financial statements review Built to perform 2024 Major developments in our strategic focus areas Dealer agreements support Hiab’s growth in the North American market HIAB MOFFETT 45 NEW PRODUCTS Ring Power Utility | Truck | Crane Ring Power Lift Trucks New products launched in 2024 Ring Power Utili
Slide 12: Key targets to measure success by 2028
Financial statements review Built to perform 2024 Key targets to measure success by 2028 Comparable 1 Sales CAGR Operating Profit ROCE2 Sustainability >7% 16% >25% SBTi Gearing Growing Dividend of <50% 30-50% of EPS 1 Over the cycle 12 2 Defined as (Operating Profit / Operative Capital Employed)
Slide 13: On track to deliver 16% margin in 2028
Financial statements review Built to perform 2024 On track to deliver 16% margin in 2028 Hiab comparable operating profit margin bridge to 2028 target as business area as standalone company - The difference between Hiab as a business area and standalone is 18% corporate administrative and support fun
Slide 14: International leadership geared for success
Financial statements review Built to perform 2024 International leadership geared for success As of 1 April 2025, subject to completion of the transformation project Scott Phillips Michael Bruninx Hermanni Lyyski Barry McGrane Martin Saint Magdelena Marcel Boxem President and Chief President, Servic
Slide 15: Financials and outlook
Financials and outlook Cargotec’s financial statements review 2024 | 12 February 2025 15
Slide 16: Key financial figures
Key financial figures Q4/24 Q4/23 Change 2024 2023 Change Orders received, MEUR 414 401 3% 1,509 1,466 3% Order book, MEUR 648 799 -19% 648 799 -19% Sales, MEUR 412 450 -8% 1,647 1,787 -8% Eco portfolio sales, % 30% 28% 200bps 29% 30% -100bps Gross profit, % 26.3% 25.8% 50bps 29.1% 26.9% 220bps Comp
Slide 17: Strong cash flow driven by good profitability and reduction in net working capital
Strong cash flow driven by good profitability and reduction in net working capital Cash flow from operations before finance items and taxes All periods include cash MEUR flow from discontinued operations Cargotec’s financial statements review 2024 | 12 February 2025 17
Slide 18: As a result of the transformation, Hiab will have a super strong balance sheet
As a result of the transformation, Hiab will have a super strong balance sheet Net debt & gearing Maturity profile*, 31 ● Continuing operations’ MEUR December 2024 gearing was -7% and net Interest-bearing debt EUR -70 million net debt / EBITDA ● Continuing operations had -0.5 EUR 439 million in cash
Slide 19: Proposed ordinary dividend of 1.20 EUR and additional dividend of 1.57 EUR
Proposed ordinary dividend of 1.20 EUR and additional dividend of 1.57 EUR for the AGM in 26 March 1.20 1.57 2.77 EUR EUR EUR Ordinary dividend Additional dividend per class B share per class B share to to be paid on 4 Apr be resolved in Q3* Total payout* Equals to Equals to 50% of continuing operat
Slide 20: Cargotec's continuing operations represent standalone Hiab fairly well
Financial statements Built to perform review 2024 Cargotec’s continuing operations represent standalone Hiab fairly well Comparable operating profit in 2024 14.9% 245 MEUR 1.7% 13.2% 13.2% -28 MEUR 217 MEUR 217 MEUR Equipment* ≈ Hiab business Services* area group costs Hiab group -28 MEUR -28 MEUR co
Slide 21: Outlook for 2025
Outlook for 2025 Cargotec estimates: Continuing operations’ comparable operating profit margin in 2025 to be above 12.0% (2024: 13.2%) Cargotec’s financial statements review 2024 | 12 February 2025 21
Slide 22: Cargotec
Cy CARGOTEC