Finance

Strong performance in the first half

Outlook for 2025 specified

Hiab estimates its persevering with operations’ comparable working revenue margin in 2025 to be above 13.5 % (2024: 13.2 %).

In its outlook initially revealed on 12 February 2025, Hiab estimated persevering with operations’ comparable working revenue margin in 2025 to be above 12.0 %.


Hiab up to date its reporting construction

As a result of signed settlement to promote the MacGregor enterprise space, with closing anticipated on 31 July 2025, MacGregor has been reported as a part of discontinued operations for the reason that fourth quarter of 2024 onwards.

To offer a foundation for comparability, Hiab revealed its reclassified monetary data of constant operations for all quarters of 2023 and the primary three quarters of 2024 individually, in addition to for the total yr 2023 on 7 January 2025.

As of 1 January 2025, Hiab has two reporting segments, Tools and Companies. Reporting of the brand new segments commenced within the January–March 2025 interim report. Hiab revealed its reclassified monetary data of reportable segments and Group administration for all quarters of 2024, in addition to for the total yr 2024 on 28 March 2025.

The Tools reporting section contains of latest gear: loader cranes, forestry and recycling cranes, truck mounted forklifts, demountables and tail lifts.

The Companies reporting section contains of spare elements, upkeep, equipment, installations, digital providers and refurbished gear.

Moreover, Hiab reviews working revenue data associated to its Group administration. This displays former Cargotec’s persevering with operations administration and assist capabilities’ prices and sure administration and assist capabilities’ prices beforehand booked within the former Hiab enterprise space.

The reclassified monetary data is unaudited.

Hiab’s key figures

MEUR

Q2/25

Q2/24

Change

Q1–Q2/25

Q1–Q2/24

Change

2024

Orders obtained

377

348

8%

755

734

3%

1,509

Companies orders, % of orders

32%

32%

 

32%

30%

 

30%

Order e book, finish of interval

556

676

-18%

556

676

-18%

648

Gross sales

402

433

-7%

814

847

-4%

1,647

Companies gross sales, % of gross sales

29%

27%

 

29%

27%

 

28%

Eco portfolio gross sales*

155

126

23%

297

240

24%

476

Eco portfolio gross sales, % of gross sales*

38%

29%

 

37%

28%

 

29%

EBITA

61.0

63.6

-4%

127.5

125.7

1%

220.2

EBITA, %

15.2%

14.7%

 

15.7%

14.8%

 

13.4%

Working revenue

60.2

62.8

-4%

125.9

124.1

1%

217.1

Working revenue, %

15.0%

14.5%

 

15.5%

14.7%

 

13.2%

Comparable working revenue

60.2

62.8

-4%

125.9

124.1

1%

217.1

Comparable working revenue, %

15.0%

14.5%

 

15.5%

14.7%

 

13.2%

Revenue earlier than taxes

59.0

62.7

-6%

123.1

122.8

0%

213.4

Revenue for the interval

43.5

46.2

-6%

89.5

88.1

2%

155.0

Fundamental earnings per share, EUR

0.67

0.72

-6%

1.39

1.37

2%

2.40

Operative return on capital employed (operative ROCE) (%), final 12 months**

30.4%

27.1%

 

30.4%

27.1%

 

28.2%

Personnel, finish of interval

4,092

4,241

-4%

4,092

4,241

-4%

4,234

*Hiab’s eco portfolio standards has been revised. The comparability intervals haven’t been restated.
**Comparative data for operative return on capital employed has been restated to incorporate persevering with operations Group administration prices.

Hiab’s key figures

Among the many under offered key figures, all embrace each persevering with and discontinued operations.

MEUR

Q2/25

Q2/24

Change

Q1–Q2/25

Q1–Q2/24

Change

2024

Money circulate from operations earlier than finance objects and taxes

55.9

89.0

-37%

182.6

262.9

-31%

582.3

Curiosity-bearing internet debt, finish of interval

-228

18

< -100%

-228

18

< -100%

-186

Gearing, %

-21.9%

1.5%

 

-21.9%

1.5%

 

-18.1%

Curiosity-bearing internet debt / EBITDA*

-0.7

0.0

 

-0.7

0.0

 

-0.5

Return on capital employed (ROCE), final 12 months, %

4.3%

23.7%

 

4.3%

23.7%

 

7.1%

*Final 12 months’ EBITDA

Hiab’s President and CEO Scott Phillips: First quarter as standalone Hiab, sturdy efficiency within the first half of the yr

The second quarter of 2025, the primary one as standalone Hiab, demonstrated our resilience with orders obtained holding regular for the eleventh consecutive quarter. Regardless of a decline in gross sales, we efficiently maintained our glorious profitability, leading to a powerful efficiency within the first half of 2025, a testomony to our efficient business and provide chain actions. Supported by the great profitability and internet working capital administration, our monetary place remained strong forward of the anticipated closing of the sale of MacGregor on the finish of July. Trying forward, we’ve got specified our full-year outlook on the again of our sturdy efficiency and elevated visibility for the second half of the yr. Nevertheless, we nonetheless see continued elevated market uncertainty ensuing from elevated commerce tensions for the second half of the yr. Our efficiency can also be on monitor to attain our long-term monetary targets.

Orders obtained remained secure for the eleventh quarter in a row, development within the Americas defined by timing of key account orders

Our orders obtained amounted to EUR 377 (Q2/24: 348) million within the second quarter, a secure stage for the eleventh quarter in a row. Delayed determination making by our prospects continued within the Americas however orders obtained improved by EUR 21 million from final yr, defined by the timing of enormous key account orders. Orders from EMEA and APAC additionally grew from the earlier yr’s stage. Stories point out international development prospects going through headwinds, primarily on account of elevated commerce tensions and heightened international coverage uncertainty. Nevertheless, substitute demand has been sturdy and our defence logistics enterprise continues to point out sturdy optimistic momentum.

Inner actions continued to drive improved margins regardless of a decline in gross sales

Our gross sales had been 7 % under the comparability interval’s stage because of a decrease order e book and amounted to EUR 402 (433) million. Regardless of the decline in gross sales, our comparable working revenue margin reached 15.0 (14.5) % of gross sales. Much like the primary quarter of 2025, the improved profitability was pushed by continued sturdy execution of our business and provide chain motion plans, aimed in direction of bettering our gross revenue margin. In absolute phrases, the comparable working revenue decreased to EUR 60 (63) million. The Tools section’s comparable working revenue margin decreased by 130 foundation factors to 13.9 (15.2) % whereas the Companies section improved by 330 foundation factors to a record-high 25.0 (21.7) %.

Internet money place anticipated to be additional strengthened as we count on the closing of the sale of MacGregor to happen in the long run of July

Supported by good profitability and internet working capital administration, our money circulate from operations excluding finance objects and taxes amounted to EUR 56 million within the second quarter together with each persevering with and discontinued operations. We proceed to function with a internet money place, which for persevering with operations amounted to EUR 78 million on the finish of the quarter. Our sturdy money circulate and stability sheet present the inspiration for focused development investments. The stability sheet is predicted to be additional strengthened, as we count on the closing of the sale of MacGregor to happen on 31 July 2025, as we’ve got now obtained all essential regulatory approvals. The anticipated money affect of the transaction is estimated at roughly EUR 225 million.

Outlook for 2025 specified, journey in direction of 2028 targets progressing nicely

We’re glad to have the ability to specify our outlook for 2025 with elevated visibility for the second half of the yr. We estimate persevering with operations’ comparable working revenue margin in 2025 to be above 13.5 (2024: 13.2) %, setting the ground stage for our 2025 profitability. Following the sturdy efficiency within the first half of 2025 we proceed to be assured in our capability to succeed in our 2028 monetary targets. The final twelve months’ comparable working revenue margin elevated in comparison with earlier yr’s stage and was 13.6 (12.6) %, displaying vital progress in direction of the goal of 16 %.

Reporting segments’ key figures

Orders obtained

MEUR

Q2/25

Q2/24

Change

Q1–Q2/25

Q1–Q2/24

Change

2024

Tools

256

237

8%

514

512

0%

1,059

Companies

121

111

9%

241

222

8%

450

Whole

377

348

8%

755

734

3%

1,509

Order e book

MEUR

30 Jun 2025

31 Dec 2024

Change

Tools

496

590

-16%

Companies

61

58

5%

Whole

556

648

-14%

Gross sales

MEUR

Q2/25

Q2/24

Change

Q1–Q2/25

Q1–Q2/24

Change

2024

Tools

284

317

-11%

578

615

-6%

1,185

Companies

118

115

3%

236

233

1%

462

Whole

402

433

-7%

814

847

-4%

1,647


Working revenue

MEUR

Q2/25

Q2/24

Change

Q1–Q2/25

Q1–Q2/24

Change

2024

Tools

39.4

48.1

-18%

85.6

91.5

-7%

155.4

Companies

29.6

25.0

18%

57.5

51.9

11%

99.5

Group administration

-8.8

-10.3

14%

-17.1

-19.3

12%

-37.7

Whole

60.2

62.8

-4%

125.9

124.1

1%

217.1

Comparable working revenue

MEUR

Q2/25

Q2/24

Change

Q1–Q2/25

Q1–Q2/24

Change

2024

Tools

39.4

48.1

-18%

85.6

91.5

-7%

155.4

Companies

29.6

25.0

18%

57.5

51.9

11%

99.5

Group administration

-8.8

-10.3

14%

-17.1

-19.3

12%

-37.7

Whole

60.2

62.8

-4%

125.9

124.1

1%

217.1

Comparable working revenue, %

MEUR

Q2/25

Q2/24

Q1–Q2/25

Q1–Q2/24

2024

Tools

13.9%

15.2%

14.8%

14.9%

13.1%

Companies

25.0%

21.7%

24.3%

22.3%

21.5%

Whole

15.0%

14.5%

15.5%

14.7%

13.2%

Phone convention for analysts, buyers and media

A reside worldwide phone convention for analysts, buyers and media will likely be organized on the publishing day at 10:00 a.m. EEST. The occasion will likely be held in English. The report will likely be offered by President and CEO Scott Phillips and CFO Mikko Puolakka. The presentation materials will likely be accessible at www.hiabgroup.com by the most recent 9:30 a.m. EEST.

To ask questions in the course of the convention, please register through the next hyperlink:
https://palvelu.flik.fi/teleconference/?id=50052228. After the registration, the convention cellphone numbers and a convention ID to entry the convention will likely be offered.

The occasion will also be seen as a reside webcast at https://hiab.events.inderes.com/q2-2025. A recording of the occasion will likely be revealed on Hiab’s web site later in the course of the day.

Please word that by dialling into the convention name, the participant agrees that private data equivalent to title and firm title will likely be collected.


For additional data, please contact:

Mikko Puolakka, CFO, tel. +358 20 777 4000
Aki Vesikallio, Vice President, Investor Relations, tel. +358 40 729 1670

Hiab (Nasdaq Helsinki: HIAB) is a number one supplier of sensible and sustainable on highway load-handling options, dedicated to delivering one of the best buyer expertise every single day with probably the most engaged individuals and companions. Globally, Hiab is represented on each continent by means of its intensive community of three,000 personal and accomplice gross sales and repair places, enabling supply to over 100 nations. The corporate’s persevering with operations gross sales in 2024 totalled roughly EUR 1.6 billion and it employs over 4,000 individuals. www.hiabgroup.com


1 Hiab’s eco portfolio standards has been revised. The comparability intervals haven’t been restated.
2 Contains discontinued operations.

Attachment

2025-07-23 05:00:00

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