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Profitability affected by lower sales in the US Hiab’s Interim report January-September 2025
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Highlights of Q3/25 − Orders received decreased slightly from the comparison period − Comparable operating profit margin decreased due to lower sales in the US − Elevated market uncertainty due to increased trade tensions continued − Services sales increased by 4% − Sale of MacGregor was closed on 31 July Q3/25 Interim report 2
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Disclaimer Q3/25 Interim report The following applies to this presentation, the oral presentation of the information in this presentation by Hiab Corporation (the “Company” or “Hiab”) or any person on behalf of the Company, and any question-and-answer session that follows the oral presentation (collectively, the “Information”). In accessing the Information, you agree to be bound by the following terms and conditions. This presentation does not constitute an offer of or an invitation by or on behalf of Hiab, or any other person, to purchase any securities. The Information includes “forward-looking statements” that are based on present plans, estimates, projections and expectations and are not guarantees of future performance. They are based on certain expectations and assumptions, which, even though they seem to be reasonable at present, may turn out to be incorrect. Shareholders should not rely on these forward-looking statements. Numerous factors may cause the actual results of operations or financial condition of Hiab to differ materially from those expressed or implied in the forward-looking statements. Information in this presentation, including but not limited to forward-looking statements, applies only as of the date of this presentation and is not intended to give any assurances as to future results. 3
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1. Group level topics CEO Scott Phillips 2. Reporting segments CFO Mikko Puolakka 3. Financials and Outlook CFO Mikko Puolakka 4. Key takeaways CEO Scott Phillips 5. Q&A Scott Phillips & Mikko Puolakka Contents Q3/25 Interim report 4
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Group level topics Q3/25 Interim report 1. 5
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We continue to invest in growth and profitability improvements Hiab partners with Forterra Hiab and Forterra, a leader in autonomous vehicle technology, have signed a strategic partnership agreement to boost development of autonomous trucking and load handling solutions. MOFFETT M8 NX2 MOFFETT M8 NX2 truck-mounted forklift was launched to the EU market. It offers superior maneuverability and an impressive lift capacity of up to 3,500 kg. Its true single-side offload capability combined with advanced connectivity and smart features, significantly boosts efficiency and operator safety. HIAB MOFFETT SBTi aligned* climate targets Hiab’s Board of Directors has set new SBTi* aligned* climate targets. By 2030, Hiab targets to reduce Scope 1&2 emissions by 50% and scope 3 emissions by 25%. The long term target is to reduce scope 1 & 2 emissions by 90% by 2040 and to reduce scope 3 emissions by 90% and achieve net zero emissions by 2050. HIAB Q3/25 Interim report *validation pending, base year for the targets is 2022 6
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Orders received remained on a stable level for 12th quarter in a row Orders received and order book MEUR Orders received, L TM (RHS) Orders received - L TM orders around 1.5 billion during the last 2 years - Decrease in orders received was driven by slow customer decision making in the US partly offset by defence logistics and wind segment orders - Currencies had a 2 percentage point negative impact on orders received in Q3 Q3/25 Interim report *in constant currencies excluding structural changes Order book MEUR Q3/25 Q3/24 Change Q1-Q3/25 Q1-Q3/24 Change Orders received 351 361 -3% 1,106 1,095 1% Order received, organic* 0% 2% Order book 557 636 -12% 7
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Operating environment Tariffs impacted Americas’ orders received, growth in other regions Orders received by geographical area, Q3/25 MEUR - Positive momentum in defence logistics and energy segment opportunities - Robust replacement demand Q3/25 Interim report - Trade tensions have elevated uncertainty of the global growth outlook - US customers have remained cautious MEUR Q3/25 Q3/24 Change Q1-Q3/25 Q1-Q3/24 Change EMEA 195 155 26% 587 518 13% AMER 132 185 -29% 435 504 -14% APAC 24 22 11% 84 72 16% Americas 38% EMEA 56%APAC 7% 8
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Sales decreased due to lower order book Sales MEUR Sales, L TM (RHS) Sales - Sales were at the level of orders received in Q3 - Currencies had a 2 percentage point negative impact on sales in the second quarter - Share of Services increased to 34 percent Q3/25 Interim report *in constant currencies, excluding structural changes MEUR Q3/25 Q3/24 Change Q1-Q3/25 Q1-Q3/24 Change Sales 346 388 -11% 1,160 1,235 -6% Sales, organic* -8% -5% Share of Services, % 34% 29% 30% 28% 9
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Q3/25 Interim report Americas’ sales was impacted by low H1 order intake Sales by geographical area, Q3/25 MEUR Americas 40% EMEA 51%APAC 8% *Eco portfolio criteria was revised as of 1. January 2025. Comparison period has not been restated. MEUR Q3/25 Q3/24 Change Q1-Q3/25 Q1-Q3/24 Change EMEA 178 187 -5% 573 599 -4% AMER 140 177 -21% 508 556 -9% APAC 29 24 18% 79 80 -1% Eco portfolio sales 140 114 23% 437 354 23% Eco portfolio sales, % 40% 29% 38% 29% - Sales decline was most prominent in the Americas - EMEA sales declined slightly - APAC sales increased - Eco portfolio sales* increased in circular solutions and in climate solutions 10
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Comparable operating profit decreased due to lower sales in the US Comparable operating profit MEUR - EUR ~20 million negative impact from lower US equipment sales - Gross profit margin decreased by 80 bps - SG&A costs were lower - Operative ROCE improved driven by successful working capital management Q3/25 Interim report Operative ROCE defined as (Operating profit / Operative capital employed), Comparative information has been restated to include continuing operations Group administration costs. MEUR Q3/25 Q3/24 Change Q1-Q3/25 Q1-Q3/24 Change Comparable operating profit 40 52 -24% 166 176 -6% Comparable operating profit, % 11.4% 13.4% 14.3% 14.3% Operative ROCE, L TM 29.8% 27.1% Comparable operating profit, % L TM (RHS) Comparable operating profit, % (RHS) Comparable operating profit 11
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Q3/25 Interim report Sales CAGR1 >7% ROCE2 >25% Comparable Operating Profit 16% 1 Over the cycle, L TM 10 year average 2 Defined as (Operating Profit / Operative Capital Employed) 12 2028 financial targets Progress, as of Q3/25 On track to deliver on our 2028 financial targets Rolling 10-year average 6% L TM 29.8% L TM 13.1%
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Reporting segments Q3/25 Interim report 2. 13
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Q3/25 Interim report Positive book-to-bill in Equipment Equipment, Orders received, order book & sales MEUR Order book (RHS) Orders received - Orders received decreased in mainly driven by delivery equipment - Positive book-to-bill in Q3, while order book decreased from the comparison period mainly in delivery equipment - Sales were stable in lifting equipment - Decreased sales in delivery equipment in the US negatively impacted comparable operating profitSales MEUR Q3/25 Q3/24 Change Q1-Q3/25 Q1-Q3/24 Change Orders received 239 252 -5% 753 764 -1% Order book 500 581 -14% Sales 230 276 -17% 808 891 -9% Comparable operating profit 20 39 -48% 106 131 -19% Comparable operating profit, % 8.8% 14.2% 13.1% 14.7% 14
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Equipments’ comparable operating profit was impacted by lower sales Equipment, Comparable operating profit MEUR Comparable operating profit, % Comparable operating profit Equipment, Comparable operating profit bridge* Q3/25 Interim report *Indicative management estimate 15 MEUR
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Q3/25 Interim report Services continued to grow Services, Orders received, order book & sales MEUR Order book (RHS) Orders received - Orders received and sales increased driven by recurring services - Comparable operating profit increased due to higher sales. commercial and sourcing actions and lower fixed costs - Number of connected units and ProCare contracts continued to increase Sales MEUR Q3/25 Q3/24 Change Q1-Q3/25 Q1-Q3/24 Change Orders received 112 109 3% 353 331 7% Order book 57 55 3% Sales 116 112 4% 352 344 2% Comparable operating profit 27 22 24% 85 74 15% Comparable operating profit, % 23.5% 19.7% 24.1% 21.5% 16
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Services profitability improved Services, Comparable operating profit MEUR Comparable operating profit, % Comparable operating profit Services, Comparable operating profit bridge* Q3/25 Interim report *Indicative management estimate 17 MEUR
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Financials and outlook Q3/25 Interim report 3. 18
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Income statement Q3/25 Interim report *Indicative management estimate ** Services and Equipment MEUR Income statement Comparable operating profit bridge* MEUR Q3/25 Q3/24 Change Sales 346 388 -11% Gross profit 100 116 -13% Gross profit, % 29.0% 29.8% EBITA 40 53 -23% Comparable operating profit 40 52 -24% Operating profit 40 52 -24% Operating profit, % 11.4% 13.4% Net financial expenses -1 -1 26% Profit for period before taxes 39 51 -24% Income taxes -10 -12 -16% Profit for the period 29 40 -27% Basic earnings per share, EUR 0.45 0.62 19
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Cash flow from operations before finance items and taxes MEUR Q3/25 Interim report Strong cash generation continued *Cash flow from operations before finance items and taxes **Indicative management estimate 20
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Q3/25 Interim report Corporate bonds and loans from financial institutions Other interest bearing liabilities* Lease liabilities Very strong balance sheet enabling organic and inorganic growth *includes liabilities related to assets held for sale Net debt and gearing Maturity profile, 30 September 2025 MEUR MEUR Net debt Gearing, % (RHS) 21
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Hiab estimates: Continuing operations’ comparable operating profit margin in 2025 to be above 13.5% (2024: 13.2%). Outlook for 2025 unchanged Q3/25 Interim report 22
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Key takeaways − Market uncertainty has continued to negatively impact our business − Despite the market situation, we have been able to improve our L TM comparable operating profit margin − We start planning a programme which target would be EUR ~20 million lower cost level in 2026 − We continue to execute on our strategy and focus on growth opportunities − Strong cash flow and balance sheet Q3/25 Interim report 23
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Q3/25 Interim report Q&A 4. 24
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Appendix 25 Q3/25 Interim report
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Key financial figures Q3/25 Interim report Continuing operations MEUR Q3/25 Q3/24 Change Orders received 351 361 -3% Order book 557 636 -12% Sales 346 388 -11% Gross profit, % 29.0% 29.8% EBITA 40 53 Comparable operating profit 40 52 -24% Comparable operating profit, % 11.4% 13.4% Operating profit 40 52 -24% Profit for the period 29 40 -27% Basic earnings per share 0.45 0.62 -27% Operative ROCE, % 29.8% 27.1% 26
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Key targets to measure success by 2028 Sales CAGR1 >7% ROCE2 >25% Comparable Operating Profit 16% Sustainability SBTi 1 Over the cycle 2 Defined as (Operating Profit / Operative Capital Employed) Q3/25 Interim report Gearing <50% Growing Dividend of 30-50% of EPS 27
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BUILT TO PERFORM HIAB • JONSERED • LOGLIFT • EFFER • ARGOS • MUL TILIFT • GALFAB • MOFFETT • PRINCETON • WAL TCO • DEL • ZEPRO • HIPERFORM
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HIAB EFFER Loader cranes GALFAB Demountables WALTCO Tail lifts MOFFETT PRINCETON Truck mounted forklifts We monitor closely the tariff situation Q3/25 Interim report Equipment offering with the highest US exposure dasdasd- Active monitoring of the volatile situation - Alternative suppliers & USMCA local sourcing - Price adjustments and tariff surcharges - Factory capacity planning to match the demand Assembly in Europe Assembly in Europe and in the US Assembly in the US Assembly in the US 29 Short term actions
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Hiab’s Board of Directors has set new SBTi* aligned Climate Targets Q3/25 Interim report *validation pending, base year for the targets are 2022 NEAR TERM TARGET -25% by 2030-50% by 2030 LONG TERM TARGET -90% by 2050-90% by 2040 by 2050 NET ZERO SCOPE 1 & 2 SCOPE 3