Kalmar Corporation Class B · OMXHEX:KALMAR
Kalmar Corporation Class B — Non-Deal Roadshow (June 2024)
35 slides from Kalmar Corporation Class B's roadshow presentation, June 2024
Slide 1: Making every move count
Making every move count May-June 2024 Roadshow
Slide 2: Disclaimer
Disclaimer This presentation is for information purposes only. This presentation does not constitute or form part of, and should not be construed as, any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any securities of Cargotec Corporation (“Cargo
Slide 3: Agenda
Agenda ➔ Kalmar as an investment ➔ Kalmar’s way ahead ➔ Performance targets & key financials ➔ Appendix 3
Slide 4: Kalmar as an Investment
Kalmar as an Investment 4
Slide 5: Kalmar moves goods in critical supply chains around the world
Kalmar moves goods in critical supply chains around the world. Making every move count. 5
Slide 6: Making every move count
Making every move count Market drivers Productivity Vision: Forerunner in sustainable material Safety handling equipment and services Intelligent operations Decarbonisation & Electrification Changing logistics landscape Labour shortage Strategic pillars Investing in Sustainable Innovations Growing S
Slide 7: Kalmar business is well diversified across customer segments & geographies
Kalmar business is well diversified across customer segments & geographies with good profitability Services share Kalmar addressable markets Geographical Eco portfolio of sales 1 by customer segment 2 sales split 1 share of sales1,5 Ports and AMEA AMER Heavy Logistics Terminals 19% 44% 28% 37% Manuf
Slide 8: Pure-play leader in the heavy material handling market
Pure-play leader in the heavy material handling market #1 #2-3 #1 #1 #1 Reachstackers1 Forklift Trucks, Terminal Straddle Spreaders medium and heavy Tractors Carriers EQUIPMENT SERVICES A leading service network in the industry, close to customers2 Spare parts Maintenance Lifecycle solutions # Refer
Slide 9: Shaping the industry and making every move count
Shaping the industry and making every move count Strong track-record of sustainable innovations and transformation 1940s First step Combining portfolio Part of Independent of leading Cargotec Kalmar businesses 2005-2024 9
Slide 10: Leading sales and service network in the industry
Leading sales and service network in the industry Kalmar Innovation Centre, Kalmar Innovation Centre, Tampere, Finland Ljungby, Sweden Head Office, Helsinki, Finland Kalmar Factory, Stargard, Poland 1,300+ Kalmar Factory, Ottawa, United States Service Kalmar Factory, technicians Shanghai, China Sale
Slide 11: Driving the transition to a sustainable value chain through connectivity and advanced services
Driving the transition to a sustainable value chain through connectivity and advanced services 65,000 installed base 13,000+ Segments: connected equipment Ports & Terminals Distribution Manufacturing Heavy Logistics Connected equipment 11
Slide 12: Kalmar is committed to sustainable and profitable growth
Kalmar is committed to sustainable and profitable growth Investing in Growing Driving Sustainable Services Excellence Innovations Foundations Customer proximity • Experienced & talented people • Attractive market • Strong financial profile 12
Slide 13: Kalmar's way ahead
Kalmar’s way ahead 13
Slide 14: Investment highlights – Making every move count
Investment highlights – Making every move count Global leader in an attractive market for 01 mission-critical heavy material handling Partnering long-term with our customers 02 to deliver a stronger impact Geared to grow by making the industry more People with unique 03 electrified, intelligent and
Slide 15: Global leader in an attractive market for mission-critical heavy material handling
Global leader in an attractive market for mission-critical heavy material handling Leading position in Attractive and growing market, EURbn attractive core markets CAGR Pure-play leader in the ~4%1 heavy material handling market Macro-level + Market trends & Enhancing the industry’s Drivers developm
Slide 16: Solving customer challenges
Solving customer challenges Customer challenges Kalmar’s role Full EV value-chain competence Peace of mind through value-add services Partner to navigate operational hurdles Safety & cybersecurity certified solutions1 Productivity maximisation through digital and automated solutions Kalmar is a long
Slide 17: Market is pushing for electrification and our customers are increasingly active
Market is pushing for electrification and our customers are increasingly active Electrification is driving the market3 Safety, Sustainability & Regulation accelerates decarbonisation 12% 63% of equipment of customers plan 41% orders were fully zero or low emission electric in 20231 capex by 20282 4
Slide 18: Kalmar Service solutions are optimised to keep our installed base moving
Kalmar Service solutions are optimised to keep our installed base of 65,000 equipment moving Customer challenges Kalmar’s role Maintenance & Service Spare Parts & Logistics Upgrades & Refurbishments Digital & Remote services Rental & Used Equipment Consulting & Training Kalmar is a long-term, truste
Slide 19: Growth execution underway with clear priorities ahead
Growth execution underway with clear priorities ahead Services sales, MEUR Add customer +22% 567 value with Leverage data-driven industry 467 Spare part capture solutions Capture higher electrification rate from 25% to 29% share of for increased Strong focus on installed base services growth digital
Slide 20: Performance targets & key financials
Performance targets & key financials 20
Slide 21: Kalmar's performance targets for 2028
Kalmar’s performance targets for 2028 Financial targets 5% 15% >25% Sales growth p.a. Comparable operating ROCE1 over the cycle profit margin Capital Aligned with2 Kalmar aims for a structure and SBTi targets <2x dividend payout ratio of sustainability framework with 1.5°C Leverage3 (Net Debt to EBI
Slide 22: Profitability upside from sustainable innovations, service growth and driving excellence
Profitability upside from sustainable innovations, service growth and driving excellence Illustration of key drivers towards 2028 profitability target 15%2 12.4%1 2023 Sustainable Growing Driving 2028 Innovations Services Excellence Comparable OP Margin (%) 1) Kalmar FY2023 Carve-out financials 22 2
Slide 23: Kalmar is well-positioned to drive growth in both segments
Kalmar is well-positioned to drive growth in both segments Equipment Services Orders received1: Q1/2024 Orders received1: LTM 1,084 MEUR 551 MEUR Order book2: 31-Mar Order book2: 2024 859 MEUR 105 MEUR Sales1: Q1/2024 Sales1: LTM 1,405 MEUR 558 MEUR Comparable OP3: Pro forma Comparable OP3: 2023 202
Slide 24: Appendix
Appendix 24
Slide 25: Kalmar's highly experienced and committed management team
Kalmar’s highly experienced and committed management team as of April 1, 2024 Sami Sakari Carina Francois Mathias Tommi Marika Niiranen Ahdekivi Geber-Teir Guetat Höglund Pettersson Väkiparta President & CEO CFO Head of IR & Head of Integrated Head of Human Head of Strategy, Head of (upon demerger)
Slide 26: Flexibility and agility through an asset-light business model
Flexibility and agility through an asset-light business model Asset-light Efficient operations Robust cash conversion Kalmar Global market coverage Liquidity for organic Business Rigorous working capital with an optimized growth and capital Model management manufacturing footprint allocation Evidenc
Slide 27: Attractive & strong financial profile
Attractive & strong financial profile Q1/2024 LTM key financial results €1,636M €972M 24.9% 12.6% Orders received Order book1 Gross profit Comparable OP margin2 €2,003M 0.5x 22.5% 126% Sales Leverage3 ROCE Cash conversion4 The financials are Q1/2024 LTM and on carve-out basis unless otherwise mentio
Slide 28: Kalmar demonstrating historically above-market growth
Kalmar demonstrating historically above-market growth Historical sales development Carve-out impact on profitability (excl. Navis & heavy cranes) Sales, MEUR1 (Comparable OP margin, FY2023) +5.4%2 2,009 13.6% 1,868 1,506 25MEUR5 1,351 1,345 1,374 1,435 1,301 1,383 12.4% 1,186 1,181 Kalmar Business A
Slide 29: Driving excellence to target best-in-class commercial performance and cost efficiency
Driving excellence to target best-in-class commercial performance and cost efficiency 2021 2022 2023 2024 2025 2026 2027 2028 Exit Heavy Cranes Business* Portfolio Optimisation Exit End-to-End Automation Commercial excellence Commercial Excellence Product cost optimisation Supply chain actions Opera
Slide 30: We will continue to allocate capital to profitable growth, sustainability and shareholder returns
We will continue to allocate capital to profitable growth, sustainability and shareholder returns Investing in organic growth Principles for capital allocation prioritization Organic Long-term Shareholder CAPEX Strong M&A growth growth returns balance readiness possibilities sheet Prioritising R&D s
Slide 31: Selected Key Carve-Out Financials
Selected Key Carve-Out Financials EUR (m) 2021 2022 2023 Q1 2023 Q1 2024 Combined Statement of Income Total Sales 1,512 1,943 2,050 485 439 Sales (excl. NAVIS and Heavy Cranes) 1,384 1,868 2,009 485 439 Eco Portfolio Sales 480 660 718 160 176 % of sales 31.7% 34.0% 35.1% 33.0% 40.0% Comparable Opera
Slide 32: Financial Summary
Financial Summary Key Profit and Loss Items Carve-Out Pro forma In EUR (m) 2021 2022 2023 Q1 2023 Q1 2024 2023 Q1 2024 Sales, excl. Navis 1,384 1,868 2,009 485 439 2,050 439 % Growth - 35.0% 7.5% 31% (9.4)% - - Eco Sales 480 660 718 160 176 - - % of Sales 31.7% 34.0% 35.1% 33.0% 40.0% - - Gross Prof
Slide 33: Financial Summary
Financial Summary Key Balance Sheet Items Carve-Out Pro forma In EUR (m) 2021 2022 2023 Q1 2023 Q1 2024 Q1 2024 Total current assets 1,121 1,266 1,190 1,330 1,216 1,051 o/w Cash 103 100 83 87 80 242 o/w Net Working Capital 62 62 92 134 49 - Total non-current assets 638 639 656 635 651 653 Total Asse
Slide 34: Financial Summary
Financial Summary Key Cash Flow Items Carve-Out Pro forma In EUR (m) 2021 2022 2023 Q1 2023 Q1 2024 2023 Q1 2024 Capital Expenditure 38 60 82 20 17 - - % Sales 2.5% 3.1% 4.0% 4.2% 3.8% - - Change in Working Capital (42) 12 (32) (70) 42 - - % Change in Sales (2.8)% 0.6% (1.5)% (14.5)% 9.5% - - Cash F
Slide 35: Making every move count.
Making every move count.