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Pin to quick picksCargotec Ord Regulatory News (0MGH)

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CEO review at Cargotec's Annual General Meeting: Cargotec's 2016 guidance unchanged

Tue, 22nd Mar 2016 10:00

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 22 MARCH 2016 AT 12 NOON EET
CEO review at Cargotec's Annual General Meeting: Cargotec's 2016 guidance unchanged
Cargotec Corporation's Annual General Meeting will begin today, 22 March 2016, at 1.00 p.m. Finnish time in Helsinki. CEO Mika Vehviläinen will concentrate in his review on financial performance in 2015, strategy and financial guidance.
Cargotec published its new strategy at the end of 2015. Strategy execution is progressing according to plan in all three focus areas - services, digitalisation and leadership development. CEO Vehviläinen will reiterate Cargotec's 2016 guidance published on 10 February 2016: Cargotec's 2016 sales are expected to be at the 2015 level (EUR 3,729 million) or slightly below and operating profit excluding restructuring costs for 2016 is expected to improve from 2015 (EUR 230.7 million).
Regarding the first quarter 2016, CEO Vehviläinen will state that the market and company's performance have developed according to expectations. MacGregor's market situation is challenging, as expected, whereas Kalmar's and Hiab's order intake during the beginning of the year has grown compared to the previous year. This has increased the company's confidence on its full year guidance. As stated in connection with the year 2015 results publication, due to timing of order book deliveries, Kalmar's first quarter sales and hence operating profit will be lower than in the previous year.
The presentation material will be available at www.cargotec.com by 1.00 p.m.
Further information:
Eeva Sipilä, Executive Vice President, CFO, tel. +358 20 777 4104
Paula Liimatta, Director, Investor Relations, tel. +358 20 777 4084
Cargotec (Nasdaq Helsinki: CGCBV) is a leading provider of cargo and load handling solutions with the goal of becoming the leader in intelligent cargo handling. Cargotec's business areas Kalmar, Hiab and MacGregor offer products and services that ensure our customers a continuous, reliable and sustainable performance. Cargotec's sales in 2015 totalled approximately EUR 3.7 billion and it employs almost 11,000 people. www.cargotec.com
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: Cargotec Corporation via Globenewswire
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