Kalmar Corporation ("Kalmar") provides an updated specified outlook for 2024 as a standalone company following the completion of the partial demerger of Cargotec Corporation (the "Demerger", "Cargotec") and the registration of Kalmar in the Finnish Trade Register on 30 June 2024.
Updated outlook for 2024
Kalmar's comparable operating profit margin as a standalone company is estimated to be above 11 percent in 2024.
Original outlook and background for the updated outlook
According to the guidance published by Cargotec on 1 February 2024, the comparable operating profit margin of Cargotec's Kalmar business was estimated1 to be above 11 percent in 2024. Furthermore, in the guidance regarding Kalmar published by Cargotec on 22 May 2024, it was estimated that the costs incurred from operating as an independent company after the Demerger will have a negative effect of approximately 1-2 percentage points annually as compared to the result of Cargotec's Kalmar business. The comparable operating profit margin of Cargotec's Kalmar business was 13.5 percent during the first quarter of 2024.
The outlook has been updated following the completion of the Demerger to provide guidance on comparable operating profit margin on the Kalmar group level, which incorporates the costs incurred by Kalmar from operating as an independent company as of 30 June 2024.
For further information, please contact:
Sakari Ahdekivi, CFO, tel. +358 50 400 3557
Carina Geber-Teir, SVP, IR, Marketing & Communications, tel. +358 40 502 4697
About Kalmar
Kalmar (Nasdaq Helsinki: KALMAR) is moving goods in critical supply chains around the world, with the vision to be the forerunner in sustainable material handling equipment and services. The company offers a wide range of industry shaping heavy material handling equipment and services to ports and terminals, distribution centres, manufacturing and heavy logistics. Headquartered in Helsinki, Finland, Kalmar operates globally in over 120 countries and employs approximately 5,000 people. In 2023, the company's sales on a carve-out basis totalled approximately EUR 2.0 billion. www.kalmarglobal.com
1 The previous business area profitability outlook was presented using the same principles which were applied in Cargotec's 2023 external financial reporting.
