KALMAR CORPORATION, STOCK EXCHANGE RELEASE, 3 JULY 2024 AT 10:00 AM EEST
Kalmar publishes comparative information for reporting segments and the Group's
key figures from year 2022 onwards
Kalmar publishes comparative information for reporting segments and the Group's
key figures from year 2022 onwards. In the carve-out financial statements which
were published as part of the 22 May 2024 dated demerger and listing prospectus,
Kalmar was reported as one segment. As presented in the demerger and listing
prospectus, Kalmar's reporting business segments are Equipment and Services as
from 1 July 2024. Kalmar offers a wide range of heavy material handling
equipment and services to ports and terminals, distribution centres,
manufacturing industries and to heavy logistics.
Kalmar publishes comparison figures for reporting segments and certain other
unpublished Group's key figures from years 2022 and 2023 as well as Q1-Q4/2023
and Q1/2024.
Outlook for 2024 unchanged
Kalmar reiterates its outlook published on 1 July 2024 stating that Kalmar's comparable operating profit margin as a standalone company is estimated to be above 11 percent in 2024.
Kalmar's reporting segments
Equipment
The Equipment segment consists of a portfolio of heavy material handling
equipment to ports and terminals, distribution centres, manufacturing industries
and heavy logistics. The Company's equipment range includes reachstackers,
forklift trucks, empty container handlers, terminal tractors, straddle carriers
and Bromma spreaders.
Services
The Services segment consists of an offering of solutions to ensure Kalmar's
equipment uptime and productivity. Key offering includes spare parts, on-call
and contract maintenance services, as well as lifecycle services, including
refurbishments, fleet management and upgrades. Data, analytics and AI have a
central role in the services offering.
Other
Other consists of Kalmar's management and headquarter functions as well as the
cost of certain central functions that are not allocated to business segments.
In addition, activities not included in the Equipment or the Services segments
are included in Other. These include the remaining activities related to heavy
cranes business, which Kalmar decided to divest in 2022, as well as Kalmar's
share of the profits of the associated company.
The financial information included in this release is unaudited.
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
Segment information
All information presented is based on carve-out financial information. All
figures presented have been rounded, which may cause, for example, the sum of
individual figures to deviate from the presented sum total.
+----------------+-------+-------+-------+-------+-------+-------+-------+
| Sales, MEUR | 2022 | 2023 | Q1/23 | Q2/23 | Q3/23 | Q4/23 | Q1/24 |
+----------------+-------+-------+-------+-------+-------+-------+-------+
| Equipment | 1,318 | 1,442 | 339 | 390 | 354 | 358 | 303 |
+----------------+-------+-------+-------+-------+-------+-------+-------+
| Services | 549 | 567 | 145 | 142 | 135 | 145 | 136 |
+----------------+-------+-------+-------+-------+-------+-------+-------+
| Other | 76 | 41 | 1 | 20 | 14 | 6 | 0 |
+----------------+-------+-------+-------+-------+-------+-------+-------+
| Internal sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
+----------------+-------+-------+-------+-------+-------+-------+-------+
| Total | 1,943 | 2,050 | 485 | 552 | 503 | 509 | 439 |
+----------------+-------+-------+-------+-------+-------+-------+-------+
+--------------------------------+-----+-----+-----+-----+-----+-----+-----+
|Sales by geographical area, MEUR| 2022| 2023|Q1/23|Q2/23|Q3/23|Q4/23|Q1/24|
+--------------------------------+-----+-----+-----+-----+-----+-----+-----+
|Europe | 697| 719| 166| 172| 177| 204| 194|
+--------------------------------+-----+-----+-----+-----+-----+-----+-----+
|Finland | 29| 49| 13| 14| 11| 12| 9|
+--------------------------------+-----+-----+-----+-----+-----+-----+-----+
|Other Europe | 667| 669| 153| 158| 166| 192| 185|
+--------------------------------+-----+-----+-----+-----+-----+-----+-----+
|Americas | 842| 950| 235| 270| 231| 213| 167|
+--------------------------------+-----+-----+-----+-----+-----+-----+-----+
|United States | 651| 735| 177| 209| 183| 166| 124|
+--------------------------------+-----+-----+-----+-----+-----+-----+-----+
|Other Americas | 191| 215| 58| 62| 48| 46| 43|
+--------------------------------+-----+-----+-----+-----+-----+-----+-----+
|AMEA | 404| 381| 85| 109| 95| 92| 78|
+--------------------------------+-----+-----+-----+-----+-----+-----+-----+
|Total |1,943|2,050| 485| 552| 503| 509| 439|
+--------------------------------+-----+-----+-----+-----+-----+-----+-----+
+-----------------------------+----+----+-----+-----+-----+-----+-----+
|Sales by geographical area, %|2022|2023|Q1/23|Q2/23|Q3/23|Q4/23|Q1/24|
+-----------------------------+----+----+-----+-----+-----+-----+-----+
|Europe | 36%| 35%| 34%| 31%| 35%| 40%| 44%|
+-----------------------------+----+----+-----+-----+-----+-----+-----+
|Finland | 2%| 2%| 3%| 2%| 2%| 2%| 2%|
+-----------------------------+----+----+-----+-----+-----+-----+-----+
|Other Europe | 34%| 33%| 32%| 29%| 33%| 38%| 42%|
+-----------------------------+----+----+-----+-----+-----+-----+-----+
|Americas | 43%| 46%| 48%| 49%| 46%| 42%| 38%|
+-----------------------------+----+----+-----+-----+-----+-----+-----+
|United States | 34%| 36%| 36%| 38%| 36%| 33%| 28%|
+-----------------------------+----+----+-----+-----+-----+-----+-----+
|Other Americas | 10%| 10%| 12%| 11%| 10%| 9%| 10%|
+-----------------------------+----+----+-----+-----+-----+-----+-----+
|AMEA | 21%| 19%| 17%| 20%| 19%| 18%| 18%|
+-----------------------------+----+----+-----+-----+-----+-----+-----+
|Total |100%|100%| 100%| 100%| 100%| 100%| 100%|
+-----------------------------+----+----+-----+-----+-----+-----+-----+
+---------------------+-----+-----+-----+-----+-----+-----+-----+
|Orders received, MEUR| 2022| 2023|Q1/23|Q2/23|Q3/23|Q4/23|Q1/24|
+---------------------+-----+-----+-----+-----+-----+-----+-----+
|Equipment |1,526|1,167| 329| 302| 266| 270| 247|
+---------------------+-----+-----+-----+-----+-----+-----+-----+
|Services | 542| 538| 142| 135| 126| 136| 155|
+---------------------+-----+-----+-----+-----+-----+-----+-----+
|Other | 13| 0| 0| 0| 0| 0| 0|
+---------------------+-----+-----+-----+-----+-----+-----+-----+
|Total |2,081|1,705| 471| 437| 392| 405| 402|
+---------------------+-----+-----+-----+-----+-----+-----+-----+
+------------------------------------+-----+-----+-----+-----+-----+-----+-----+
|Orders received by geographical | | | | | | | | |area, MEUR | 2022| 2023|Q1/23|Q2/23|Q3/23|Q4/23|Q1/24| +------------------------------------+-----+-----+-----+-----+-----+-----+-----+
|Europe | 728| 708| 191| 192| 174| 150| 179| +------------------------------------+-----+-----+-----+-----+-----+-----+-----+
|Americas | 970| 608| 184| 149| 106| 169| 130| +------------------------------------+-----+-----+-----+-----+-----+-----+-----+
|AMEA | 383| 389| 95| 96| 112| 86| 94| +------------------------------------+-----+-----+-----+-----+-----+-----+-----+
|Total |2,081|1,705| 471| 437| 392| 405| 402| +------------------------------------+-----+-----+-----+-----+-----+-----+-----+
+--------------------------------------+----+----+-----+-----+-----+-----+-----+
|Orders received by geographical area, | | | | | | | | |% |2022|2023|Q1/23|Q2/23|Q3/23|Q4/23|Q1/24| +--------------------------------------+----+----+-----+-----+-----+-----+-----+
|Europe | 35%| 42%| 41%| 44%| 45%| 37%| 44%| +--------------------------------------+----+----+-----+-----+-----+-----+-----+
|Americas | 47%| 36%| 39%| 34%| 27%| 42%| 32%| +--------------------------------------+----+----+-----+-----+-----+-----+-----+
|AMEA | 18%| 23%| 20%| 22%| 28%| 21%| 23%| +--------------------------------------+----+----+-----+-----+-----+-----+-----+
|Total |100%|100%| 100%| 100%| 100%| 100%| 100%| +--------------------------------------+----+----+-----+-----+-----+-----+-----+
+------------------+-------+-------+-------+-------+-------+-------+-------+
| Order book, MEUR | 2022 | 2023 | Q1/23 | Q2/23 | Q3/23 | Q4/23 | Q1/24 |
+------------------+-------+-------+-------+-------+-------+-------+-------+
| Equipment | 1,254 | 928 | 1,224 | 1,146 | 1,063 | 928 | 859 |
+------------------+-------+-------+-------+-------+-------+-------+-------+
| Services | 123 | 90 | 119 | 108 | 98 | 90 | 105 |
+------------------+-------+-------+-------+-------+-------+-------+-------+
| Other | 51 | 7 | 47 | 26 | 11 | 7 | 7 |
+------------------+-------+-------+-------+-------+-------+-------+-------+
| Total | 1,428 | 1,024 | 1,390 | 1,281 | 1,172 | 1,024 | 972 |
+------------------+-------+-------+-------+-------+-------+-------+-------+
+------------------------------------+-----+-----+-----+-----+-----+-----+-----+
|Operating profit and EBITDA, MEUR | 2022| 2023|Q1/23|Q2/23|Q3/23|Q4/23|Q1/24| +------------------------------------+-----+-----+-----+-----+-----+-----+-----+
|Equipment |106.0|201.8| 43.9| 56.8| 51.4| 49.7| 39.3| +------------------------------------+-----+-----+-----+-----+-----+-----+-----+
|Services | 99.0| 95.6| 27.0| 25.6| 21.8| 21.2| 22.8| +------------------------------------+-----+-----+-----+-----+-----+-----+-----+
|Other |-86.8|-57.2|-15.0|-10.8|-13.7|-17.7|-16.3| +------------------------------------+-----+-----+-----+-----+-----+-----+-----+
|Operating profit |118.3|240.2| 55.9| 71.6| 59.4| 53.2| 45.8| +------------------------------------+-----+-----+-----+-----+-----+-----+-----+
|Depreciation, amortisation and | | | | | | | | |impairment | 52.4| 57.2| 14.0| 14.1| 14.1| 15.0| 13.7| +------------------------------------+-----+-----+-----+-----+-----+-----+-----+
|EBITDA |170.7|297.4| 70.0| 85.8| 73.5| 68.2| 59.5| +------------------------------------+-----+-----+-----+-----+-----+-----+-----+
+-------------------+-------+-------+-------+------+------+-------+-------+
|Operating profit, %| 2022| 2023| Q1/23| Q2/23| Q3/23| Q4/23| Q1/24|
+-------------------+-------+-------+-------+------+------+-------+-------+
|Equipment | 8.1%| 14.0%| 12.9%| 14.6%| 14.5%| 13.9%| 13.0%|
+-------------------+-------+-------+-------+------+------+-------+-------+
|Services | 18.0%| 16.9%| 18.6%| 18.1%| 16.1%| 14.6%| 16.8%|
+-------------------+-------+-------+-------+------+------+-------+-------+
|Other |Â