Slides
Page 1
Hiab’s Q3/26 pre-silent call CFO Mikko Puolakka 23 September 2026
Page 2
Contents Q3/26 pre-silent call 1. Q2/26 recap 2. Q3/26 releases and development 3. Q&A
Page 3
Q2/26 recap Q3/26 pre-silent call 1.
Page 4
Orders received in Q2/26 reached the highest level in four years Orders received and order book MEUR Orders received, L TM (RHS) Orders received - Currencies had a negative EUR 4 million impact on orders received - ING Cranes’ orders received amounted to EUR 17 million in Q2/26 - EUR 37 million truck mounted forklift order from a US home improvement segment customer - Order book continued to increase due to positive book-to-bill in all geographies Q3/26 pre-silent call *in constant currencies excluding structural changes Order book MEUR Q2/26 Q2/25 Change Q1-Q2/26 Q1-Q2/25 Change Orders received 437 377 16% 839 755 11% Orders received, organic* 13% 10% Order book 589 556 6% 4
Page 5
Operating environment Orders received increased in EMEA and the Americas Orders received by geographical area, Q2/26 MEUR - Gradual market recovery continued in EMEA - US market recovered modestly in Q2 - Positive book-to-bill in APAC Q3/26 pre-silent call - Geopolitical and trade tensions have elevated uncertainty of the global growth outlook and slowing customer decision making MEUR Q2/26 Q2/25 Change Q1-Q2/26 Q1-Q2/25 Change EMEA 220 188 17% 426 391 9% AMER 191 159 20% 357 303 18% APAC 26 30 -11% 56 60 -7% Americas 44 (42) % EMEA 50 (50) %APAC 6 (8) % 5
Page 6
Sales were at the comparison period’s level and increased sequentially Sales MEUR Sales, L TM (RHS) Sales - ING Cranes’ sales, EUR 15 million, had a positive 4 percentage point impact in Q2 - Currencies had a negative 1 percentage point impact in Q2 - Share of Services increased to 30 percent Q3/26 pre-silent call *in constant currencies, excluding structural changes MEUR Q2/26 Q2/25 Change Q1-Q2/26 Q1-Q2/25 Change Sales 403 402 0% 786 814 -3% Sales, organic* -3% -4% Share of Services, % 30% 29% 30% 29% 6
Page 7
Q3/26 pre-silent call Sales growth in EMEA, offset by decline in the Americas Sales by geographical area, Q2/26 MEUR Americas 40 (43) % EMEA 54 (50) %APAC 6 (7) % MEUR Q2/26 Q2/25 Change Q1-Q2/26 Q1-Q2/25 Change EMEA 218 203 7% 419 395 6% AMER 160 173 -7% 316 368 -14% APAC 26 27 -4% 51 51 1% Eco portfolio sales 181 155 17% 357 297 20% Eco portfolio sales, % 45% 38% 45% 37% - Americas sales decline came from the US, partly offset by ING Cranes acquisition in Brazil - Sales in EMEA increased - APAC sales were stable YTD despite decline in Q2 - Eco portfolio sales increased in climate and in circular solutions 7
Page 8
Comparable operating profit increased with stable sales Comparable operating profit MEUR - Comparable operating profit increased driven by Lifting equipment and Services - Low order intake in US delivery equipment business in 2025 negatively impacted sales and comparable operating profit - Operative ROCE decreased mainly due to lower L TM comparable operating profit and items affecting comparability Q3/26 pre-silent call Operative ROCE defined as (Operating profit / Operative capital employed) MEUR Q2/26 Q2/25 Change Q1-Q2/26 Q1-Q2/25 Change Comparable EBITA 62 61 2% 115 127 -10% Comparable EBITA, % 15.4% 15.2% 14.6% 15.7% Comparable operating profit 61 60 1% 112 126 -11% Comparable operating profit, % 15.1% 15.0% 14.3% 15.5% Operative ROCE, L TM 25.0% 30.4% Comparable operating profit, % L TM (RHS) Comparable operating profit, % (RHS) Comparable operating profit 8
Page 9
Q3/26 releases and development Q3/26 pre-silent call 2.
Page 10
Acquisition of Labrie Environmental Group, a leading provider of refuse collection vehicles in North America, is a major milestone in inorganic growth Labrie in numbers1 Portfolio overview Attractive sales mix2 Premium customers Most critical applications Notes: 1 Figures presented according to US GAAP and represent last 12 months as per March 2026. 2 Represents FY2025 management estimates. Comparable operating profit / margin 83 MUSD / 17% Order book (as per March 2026) ~435 MUSD Sales in North America 100% Sales 491 MUSD Side Loaders Front Loaders Rear Loaders Services & Parts Equipment Parts & Service Rental companies National accounts Municipal/ Independent regional Commercial Residential Comparable EBITDA / margin 113 MUSD / 23% Q3/26 pre-silent call 10
Page 11
Overview of the transaction announced on 1 June 2026 • Purchase price of 1,035 MUSD on cash-free, debt-free basis • Last 12 months Comparable EBITDA1 multiple of 9.2xPurchase price • Enhanced financial profile that is expected to be both margin- and growth-accretive, with increased cash generation from more diversified end markets • Expected synergies in sales and procurement Financial impact • 100% cash consideration to be financed with cash at hand and additional debt of 900 MEUR • Had the acquisition been completed at the end of the Q1 2026, the planned financing would have resulted in a pro forma gearing of approximately 70 percent and a pro forma Net debt to EBITDA of 2.1x • Long-term target for gearing below 50%, supported by continued strong cash generation Financing • Closing on 1 July 2026 • Labrie forms a new business area within Hiab, Environmental Vehicle Solutions • Labrie’s President and CEO, Michael Eastabrook joined Hiab Leadership Team as President Environmental Vehicle Solutions • Labrie will for be consolidated into Hiab from Q3/26 onwards Closing Notes: 1 Last 12 months as per March 2026. Q3/26 pre-silent call 11
Page 12
Delivering on our strategy through inorganic growth Note: 1 Waste and Recycling #1 or #2 position in all segments Positioned to grow faster than the market Profitability upside Sustainable value creation Key investment highlights Acquisition 1 Leading market positions in growing and attractive essential industries Operating model enabling incremental efficiency improvement Best-in-class financial profile with further value creation potential through M&A Further leveraging of sizable installed base and connectivity to accelerate Services growth Set to grow through continued innovation and focused segment strategy Geared to expand leading position in growing North American market 5 642 3 #1 market position in Automated Side Loaders in North America New best-in-class business Highly attractive long-term value creation and well aligned with Hiab’s M&A criteria Sets foundation for strong aftermarket business with further growth potential Innovation leadership in attractive W&R1 segment which is one of our four selected key segments Expands North American footprint in manufacturing and sales channels ✔ ✔ ✔ ✔ ✔ ✔ Q3/26 pre-silent call 12
Page 13
Hiab estimates: Comparable operating profit margin in 2026 to be above 14.5 (2025: 13.7) percent*. Previous outlook (published 24 April 2026): Comparable operating profit margin in 2026 to be above 13.5 (2025: 13.7) percent. Outlook for 2026 specified Q3/26 pre-silent call *comparable operating profit excludes PPA amortization related to Labrie Environmental Group’s order book 13
Page 14
Q3/26 pre-silent call Q&A 3. 14
Page 15
Welcome to Hiab’s Investor event on 3 November in Helsinki Q3/26 pre-silent call Topics: Advanced Controls and Hiab’s Q3/26 results Speakers: Hannu Hyttinen, VP Advanced Control and Mikko Puolakka, CFO Date and time: 3 November, 11.15 am - 12.45 pm EET Location: Hiab HQ, Itämerenkatu 25, Helsinki The event is scheduled to enable participation in Wärtsilä’s CMD, which is held at close proximity Register here 15
Page 16
Disclaimer Q3/26 pre-silent call 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. 16
Page 17
BUILT TO PERFORM HIAB • EFFER • ARGOS • ING • LOGLIFT • JONSERED • MUL TILIFT • GALFAB • MOFFETT • PRINCETON • WAL TCO • DEL • ZEPRO • LABRIE • WITTKE • LEACH • HIPERFORM