Correction: Kalmar specifies its outlook for 2024
July 01 2024 - 8:00AM
Correction: Kalmar specifies its outlook for 2024
KALMAR CORPORATION, STOCK EXCHANGE RELEASE, 1
JULY 2024 AT 3:00 PM (EEST)
Correction: Kalmar specifies its outlook
for 2024
Kalmar corrects its stock exchange release
published on 1 July 2024 at 8:30 AM (EEST) regarding the outlook
for 2024. The original release did not include the word
"comparable" and said: "Kalmar’s operating profit margin as a
standalone company is estimated to be above 11 percent in 2024".
The corrected outlook is: "Kalmar’s comparable operating
profit margin as a standalone company is estimated to be above 11
percent in 2024". The corrected release is included below in its
entirety.
***
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.