Finland · Delayed Price · Currency is EUR Hiab Oyj Earnings Call Transcripts
Fiscal Year 2026
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Order intake grew 7% organically, with strong cash flow and a raised profit margin outlook to above 13.5%. Revenue declined 7% year-over-year, but service sales and recurring revenues increased in constant currencies. Cost savings and a robust balance sheet support ongoing growth and M&A activity.
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Order intake remained flat in 2025, with EMEA and APAC growth offsetting U.S. declines. Profitability was strong due to cost savings and service growth, and a new organizational structure and cost program are set for 2026. Outlook expects stable U.S. demand and further margin improvements.
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Order intake and sales declined in the Americas due to tariff-related uncertainty, while EMEA showed improvement. Profitability was impacted by lower U.S. sales, prompting a EUR 20 million cost savings program. The outlook for 2025 remains unchanged, with a focus on structural savings and service growth.
Fiscal Year 2025
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Orders and sales remained stable, with a 6% sales decline offset by a record 13.7% operating margin and strong cash flow. Services and connected equipment drove growth, while cost savings and strategic acquisitions support future profitability.
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Q3 saw profitability decline due to lower U.S. sales from trade tensions, but services and EMEA orders grew. Cost reductions and a strong balance sheet support resilience, with 2025 margin guidance above 13.5% and a EUR 20 million cost program planned for 2026.
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Order intake remains stable, with Q2 growth driven by large U.S. orders, but underlying demand is cautious due to tariffs and trade tensions. Profitability is steady, service revenues are growing, and the MacGregor divestment has strengthened liquidity. Outlook for 2024 operating margin is raised to above 13.5%.
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Orders grew 8% year-over-year, but sales declined 7% amid market uncertainty. Profitability remained strong, with a 15% operating margin and improved return on capital. The MacGregor sale is set to close in July, bringing €225 million in proceeds.
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Order intake and revenues remained stable in Q1, with EMEA and APAC growth offsetting U.S. weakness due to trade tensions. Profitability was strong, and 2025 guidance is maintained. Strategic investments and M&A activity continue, with the MacGregor divestment expected to close soon.
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Profitability and cash flow improved in Q1 despite a slight revenue decline, with strong execution in sourcing and commercial actions. U.S. demand softened due to trade tensions, but EMEA and APAC saw growth. Outlook for 2025 remains above 12% operating profit.
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Hiab began trading as a standalone company, maintaining stable order intake and service growth, with profitability impacted by one-off costs but expected to improve in H2 2025. The MacGregor divestment is on track, and 2025 guidance targets over 12% operating profit.
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MacGregor sale to Triton is set to close by July 2025, with Hiab emerging as a standalone entity boasting a strong balance sheet and a focus on North American growth. Profitability remains resilient despite lower sales, supported by cost savings and commercial actions.
Fiscal Year 2024
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2024 saw record profitability and strong cash flow despite an 8% sales decline, with Hiab's order intake up 3% and service sales at all-time highs. The MacGregor divestment and Kalmar separation were completed, leaving a robust balance sheet and positive outlook for 2025.
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Seventh consecutive strong quarter with 14% order growth, robust cash flow, and improved profitability. Hiab and MacGregor both delivered solid results, with MacGregor's order book exceeding EUR 1 billion and Hiab maintaining stable demand. Guidance for 2024 remains positive.
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Sixth consecutive strong quarter, with Hiab maintaining high profitability and MacGregor achieving record operating profit. The Kalmar demerger was completed, guidance for both Hiab and MacGregor was raised, and efficiency programs were initiated amid ongoing market uncertainty.