Core Insights - Hiab Corporation reported a record high comparable operating profit margin of 13.7% for 2025, despite a 6% decline in sales, indicating improved profitability amidst challenging market conditions [10][19] - The company became a standalone entity listed on Nasdaq Helsinki in April 2025, following the sale of its former MacGregor business, which has been classified as discontinued operations since Q4 2024 [15][16] Financial Performance - For the full year 2025, orders received totaled EUR 1,481 million, unchanged in constant currencies compared to 2024, with a notable decline of 14% in the Americas, offset by growth in EMEA and APAC [10][18] - Sales for 2025 decreased by 6% to EUR 1,556 million, with equipment sales representing 70% and services sales 30% of total sales [10][19] - The comparable operating profit for 2025 was EUR 213 million, a decrease of 2% from 2024, while the comparable operating profit margin improved to 13.7% [10][19] Segment Performance - The Equipment segment saw orders received decrease by 5% to EUR 1,010 million, while the Services segment experienced a 5% increase in orders to EUR 470 million [25] - In Q4 2025, the Equipment segment's operating profit increased by 38% to EUR 34.3 million, while the Services segment's operating profit decreased by 6% to EUR 24.1 million [26] Market Environment - The market environment in 2025 was characterized by increased trade tensions, particularly affecting the Americas, while EMEA and APAC markets showed signs of gradual recovery [10][17] - Hiab's eco portfolio sales increased by 20% in 2025, totaling EUR 572 million, representing 37% of total sales [10][19] Strategic Developments - Hiab plans to evolve its operating model by realigning its structure from six divisions into three business areas, aimed at enhancing scalability and customer focus [22] - The company completed the acquisition of ING Cranes in Brazil, which is expected to strengthen its market position in the region [21] Outlook - For 2026, Hiab estimates its comparable operating profit margin to be above 13.0%, down from 13.7% in 2025, amid ongoing market volatility and geopolitical tensions [4][23]

Core Insights - Hiab Corporation's profitability has been negatively impacted by lower sales in the US, leading to a decrease in comparable operating profit margin to 11.4% [12][17][19] Financial Performance - Orders received in Q3 2025 totaled EUR 351 million, a decrease of 3% compared to EUR 361 million in Q3 2024 [11][12] - Sales for Q3 2025 decreased by 11% to EUR 346 million from EUR 388 million in Q3 2024 [13][19] - The order book at the end of Q3 2025 was EUR 557 million, down 12% from EUR 636 million at the end of Q3 2024 [11][12] - Comparable operating profit for Q3 2025 was EUR 40 million, a decrease of 24% from EUR 52 million in Q3 2024 [12][19] - Basic earnings per share for Q3 2025 were EUR 0.45, down 27% from EUR 0.62 in Q3 2024 [13][19] Segment Performance - The share of Services in total orders increased to 34% in Q3 2025, up from 30% in Q3 2024 [11][12] - Equipment sales represented 66% of consolidated sales in Q3 2025, down from 71% in Q3 2024, while Services sales represented 34%, up from 29% [12][19] Market Outlook - Hiab maintains its outlook for 2025, estimating a comparable operating profit margin above 13.5%, compared to 13.2% in 2024 [5][22] - The company is targeting a cost reduction program aimed at achieving approximately EUR 20 million lower costs in 2026 compared to 2025 [20] Strategic Developments - The sale of MacGregor was completed on July 31, 2025, resulting in a strong balance sheet with a net cash position of EUR 308 million [21] - Hiab's new reporting structure includes two segments: Equipment and Services, effective from January 1, 2025 [8][9]