Finland · Delayed Price · Currency is EUR Kalmar Oyj Earnings Call Transcripts
Fiscal Year 2026
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Record order intake and sales growth in Q4 2025 drove strong full-year results, with stable demand and profitability. Guidance for 2026 remains positive despite ongoing global uncertainties, and leadership transitions are planned for later in the year.
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Record profitability and a growing order backlog highlight strong service performance, while equipment orders declined. Market sentiment and demand remain stable across regions, with tariff impacts largely offset by price increases. Efficiency programs are on track for significant savings.
Fiscal Year 2025
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Record orders and sales growth in 2025, with profitability and cash flow improving despite tariff headwinds and geopolitical uncertainty. Services and eco portfolio expanded, and guidance for 2026 targets a higher operating margin.
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Record-high Q3 operating margin of 13.8% was driven by strong services and efficiency gains, despite a 10% drop in orders. Eco-portfolio sales rose to 46%, and guidance for 2025 remains unchanged with a positive outlook supported by resilient demand and ongoing efficiency programs.
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Q2 delivered strong order growth and margins, but H2 is expected to be subdued due to weaker global container throughput and manufacturing output. Tariffs caused temporary U.S. delivery delays, but normalization is expected by Q4. Europe remains stable, and service growth is a key focus.
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Order intake rose 20% year-over-year with strong equipment margins and resilient sales, but market uncertainties and tariff risks are expected to subdue H2. Services growth continues, though margins were temporarily impacted by tariffs and warehouse moves.
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Q1 orders grew 20% year-on-year, with strong service margins but lower equipment sales. Tariff-related price hikes of 5-10% were implemented in the U.S., and macroeconomic uncertainty is impacting customer decisions, especially in distribution.
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Orders rose 20% year-over-year, with strong European demand and resilient margins despite lower sales. Services and eco portfolio shares grew, and a major R&D program was launched. Market uncertainty is high, especially in the U.S., but guidance for 2025 profitability above 12% is maintained.
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The AGM marked the first as an independent listed company, highlighting strong 2024 financials, a clear growth strategy to 2028, and a focus on innovation and sustainability. All board and shareholder proposals, including dividend and governance matters, were approved.
Fiscal Year 2024
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Q4 and full year 2024 saw stable revenues, resilient margins, and record orders, with strong service and eco portfolio contributions. Guidance for 2025 targets a >12% operating margin, supported by ongoing cost efficiency programs and modest market growth expectations.
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Record Q3 profitability driven by strong service and equipment margins, with stable demand and a healthy order pipeline. North American destocking continues to weigh on growth, but guidance for 2024 remains above 12% margin. Eco Portfolio and service sales are rising.
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Solid Q2 profitability achieved amid stable service demand and North American softness. Order book remains healthy at EUR 925 million, with 40% of sales from the Eco Portfolio and a 12.6% operating margin. Outlook for 2024 is unchanged, targeting over 11% margin.