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

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

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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.