Cargotec Corporation
0MGH.L
London Stock Exchange51.03
EUR
-1.80
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Cargotec Corporation
0MGH.L
(London Stock Exchange)
Recent
price
51.03
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Cargotec Corporation (Nasdaq Helsinki: HIAB), formerly known for its cargo handling solutions across multiple business areas, now operates as Hiab, the world's leading provider of smart and sustainable on-road load handling equipment and services. Hiab develops and manufactures loader cranes including HIAB brands such as wspr electric hybrid models; truck-mounted forklifts; tail lifts; demountables; and smart delivery platforms like Load Handling Systems; alongside intelligent services, connected solutions, aftermarket support, automation, and software for industries including construction, logistics, utilities, and waste management. The company maintains approximately 3,000 sales and service locations worldwide, serving customers across Europe, North America, Asia-Pacific, Latin America, and other regions. Founded in 1944 and headquartered in Helsinki, Finland, Hiab employs over 4,200 people globally and reported net sales of approximately EUR 1.6 billion for continuing operations in 2024. In a major transformation completed in 2024-2025, Cargotec demerged its Kalmar business in June 2024 to create a separate listed entity and sold its MacGregor maritime cargo handling unit to funds managed by Triton in November 2024 for an enterprise value of EUR 480 million, with closing expected by July 2025; Cargotec subsequently changed its name to Hiab Corporation effective 1 April 2025 and now trades independently as a standalone on-road load handling specialist. Recent developments include launching 45 new products in 2024 such as the emission-free HIAB wspr loader cranes and a 3.5-ton truck-mounted forklift for the EU alongside the GALFAB cable hoist in the US; signing strategic partnerships like one with Forterra for automated solutions; signing an agreement on 26 November 2025 to acquire Brazilian crane manufacturer ING Cranes; expanding dealer networks in the US; distributing additional dividends; and updating its reporting structure to Equipment and Services segments from Q1 2025 while setting new long-term financial targets for profitable growth, gearing below 50%, and a 30-50% dividend payout ratio.