Cargotec changed the definition of the alternative performance measure comparable operating profit and discloses figures in accordance with the new definition for the comparison periods 2020, 2021 and 2022.
As stated in the financial statements review 2022, Cargotec changed the definition of the alternative performance measure comparable operating profit starting from 1 January 2023. The restated comparable operating profit will also include the impacts of the purchase price allocation, which amounted to EUR 16 million in 2022. Of these items, EUR 1 million were related to Kalmar, EUR 3 million to Hiab, and EUR 12 million to MacGregor. Comparison figures have been calculated based on the new definition, which is identical to the definition used prior to the previous change in 20211.
Outlook for 2023 unchanged
Cargotec reiterates its outlook published on 2 February 2023 and estimates its core businesses’2 comparable operating profit to improve from 2022 (EUR 384 million) and MacGregor’s comparable operating profit in 2023 to be positive (EUR -47 million).3
1) See the stock exchange release published on 29 March 2021.
2) Hiab and Kalmar excluding heavy cranes and including corporate administration and support functions.
3) The outlook for 2023 does not include the comparable operating profit of Kalmar’s heavy crane business which will be discontinued.
Figures in accordance with the new definition for the comparison periods are unaudited.
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Source: Cargotec