Slide 1: Record year for Kalmar and Hiab
2 February 2023 • All-time high orders, sales and comparable operating profit Record year for • Record high service and eco portfolio sales Kalmar and Hiab • MacGregor’s portfolio rationalisation had significant negative impact Cargotec’s Financial Statements Review 2022 on operating profit Mika Veh
Slide 2: Disclaimer
Disclaimer Although forward-looking statements contained in this presentation are based upon what management of the company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ mater
Slide 3: Contents
Contents ● 2022 highlights ● Market environment ● Group level development ● Business areas ● Financials and outlook 3
Slide 4: Highlights of 2022 – Core businesses' comparable operating profit increased to EUR 388 million
Highlights of 2022 – Core businesses’ comparable operating profit increased to EUR 388 million Orders received increased by 10% ● Strong orders in all businesses Sales increased by 23% ● Service sales increased by 17% ● Eco portfolio increased by 54% Comparable operating profit increased by 43% ● Ka
Slide 5: Equipment activity remained at a high level
Equipment activity remained at a high level +1% +4% -1% +4% -3% -11% +10% -3% Kalmar Mobile Equipment: -5% Change in machine activity – Q4/22 vs. Q3/22 -1% Hiab loader cranes: Actual vs. estimated operating time, Q4/2022 Cargotec’s financial statements review 2022 | 2 February 2023 5
Slide 6: Market environment
GDP growth1, % Container throughput growth2, % Manufacturing output growth3, % Market environment Slower growth expected for 2023 Global US Euro Global EMEA AMER Global US Euro area China ASEAN 5* area APAC China *ASEAN 5: Indonesia, Malaysia, Philippines, Thailand, Vietnam. Change direction since l
Slide 7: Orders received increased in all businesses in 2022
Orders received increased in all businesses in 2022 Orders received MEUR +10% (y/y) +13% (y/y) +50% (y/y) +75% (y/y) +5% -xx% -2% (y/y) (y/y) (y/y) +xx% +1% +6% (y/y) (y/y) (y/y) Cargotec’s financial statements review 2022 | 2 February 2023 7
Slide 8: We enter into 2023 with a strong order book in all business areas
We enter into 2023 with a strong order book in all business areas Order book Order book by reporting MEUR segment, 31 December 2022 40% 26% 34% Cargotec’s financial statements review 2022 | 2 February 2023 8
Slide 9: Record high sales and strong comparable operating profit growth in the core businesses
Record high sales and strong comparable operating profit growth in the core businesses Sales Comparable operating profit MEUR MEUR x *) Including Corporate admin and support Cargotec’s financial statements review 2022 | 2 February 2023 9
Slide 10: Excellent performance in service business continued
Excellent performance in service business continued Service orders received +11% in 2022 Service sales +17% in 2022 ● Kalmar +18% ● Hiab +17% ● MacGregor +17% Service share 31% of total sales in 2022 Cargotec’s financial statements review 2022 | 2 February 2023 10
Slide 11: Growing by solving customers' sustainability challenges
Growing by solving customers sustainability challenges Investing in Driving Actively seeking Aiming for innovation to increasing organic and highest ESG be sustainability recurring inorganic standards in leader revenues growth our industry Step change in resilience and financial performance Cargotec
Slide 12: Market leading technology and services driving growth
Market leading technology and services driving growth Investing in innovation Driving increasing Actively seeking organic Aiming for highest ESG to be sustainability leader recurring revenues and inorganic growth standards in our industry Kalmar announced a Kalmar signed a Hiab acquired Cargotec sig
Slide 13: Cargotec's performance targets for its core businesses
Cargotec’s performance targets for its core businesses Eco portfolio: double sales growth Sales growth faster compared to traditional products than market1 Reduce CO2 emissions in our Comparable operating value chain2 profit 2025: -25% 2030: -50% 2025: 12% 2030: 15% Growing dividend Gearing below 30
Slide 14: Business areas
Business areas ee ee 080) CARGOTEC
Slide 15: Kalmar Q4 – Record quarter
Kalmar Q4 – Record quarter Demand continued at a high level MEUR Q4/22 Q4/21 Change Sales increased by 44% Orders received 544 513 6% ● Service sales +15% Order book 1,428 1,302 10% ● Supply chain challenges Sales 618 430 44% continued Service sales, % 24% 30% -600 bps Comparable operating profit Co
Slide 16: Hiab Q4 – Strong performance continued with record sales
Hiab Q4 – Strong performance continued with record sales Demand continued at a high level MEUR Q4/22 Q4/21 Change Orders received 377 384 -2% Sales increased by 35% Order book 1,185 985 20% Sales 456 339 35% ● Service sales +27% Service sales, % 25% 26% -100 bps ● Supply chain and truck chassis Comp
Slide 17: MacGregor Q4 – Order book surged close to EUR billion
MacGregor Q4 – Order book surged close to EUR 1 billion Orders received surged ● Driven by increase in merchant MEUR Q4/22 Q4/21 Change vessels Orders received 269 153 75% Order book 927 560 65% Sales increased by 17% Sales 165 141 17% ● Service sales +30% Service sales, % 55% 49% 600 bps Comparable
Slide 18: We have taken further steps to strengthen MacGregor profitability in 2023
We have taken further steps to strengthen MacGregor profitability in 2023 Merchant and Service Offshore Merchant and Service Actions Outcome in 2023 divisions delivered solid ● Downsizing the ● Planned headcount reduction by 160 profitability in 2022 and Offshore organisation ● Planned annualized sa
Slide 19: Financials and outlook
Financials and outlook 19
Slide 20: Financial highlights of 2022
Financial highlights of 2022 3,541 43% 23 Comparable MEUR operating profit MEUR Strong increase from Net result order book 2021 964 11.3% Core businesses* MEUR comparable Eco portfolio sales operating profit margin *Core businesses = Hiab + Kalmar excluding heavy port cranes & Cargotec’s financial s
Slide 21: Reduction in inventories supported our operative cash flow in Q4
Reduction in inventories supported our operative cash flow in Q4 Cash flow from operations before financing items and taxes MEUR Cargotec’s financial statements review 2022 | 2 February 2023 21
Slide 22: Gearing improvement driven by good cash flow
Gearing improvement driven by good cash flow Net debt & gearing Maturity profile, 31 December 2022 MEUR Interest-bearing net debt / EBITDA 1.2 Cargotec’s financial statements review 2022 | 2 February 2023 22
Slide 23: Cargotec aims for growing dividend of 30-50% of EPS
Cargotec aims for growing dividend of 30-50% of EPS Dividend, EPS & Payout ratio EUR ● Cargotec’s Board of Directors dividend proposal for AGM to be held on 23 March 2023: ○ Dividend of 1.35 per class B share ○ Record date 27 March 2023 ○ Payment date 4 April 2023 ● EPS excl. items affecting compara
Slide 24: Outlook for 2023
Outlook for 2023 Cargotec estimates its core businesses’1 2023 comparable operating profit to improve from 2022 (EUR 3842 million) and MacGregor’s comparable operating profit in 2023 to be positive (EUR -472 million)3 1) Core businesses = Hiab + Kalmar excluding heavy port cranes and including all g
Slide 25: Cy CARGOTEC
Cy CARGOTEC
Slide 26: Appendix
Appendix 26
Slide 27: Key figures of 2022
Key figures of 2022 Q4/22 Q4/21 Change 2022 2021 Change Orders received, MEUR 1,190 1,051 13% 4,862 4,427 10% Order book, MEUR 3,541 2,847 24% 3,541 2,847 24% Sales, MEUR 1,239 910 36% 4,089 3,315 23% Comparable operating profit, MEUR 89 45 95% 332 232 44% Comparable operating profit, % 7.2% 5.0% 22