Kalmar (KALMAR) Danske Bank Copenhagen Winter Seminar presentation summary

Q3 2025 financial and operational highlights

• Achieved record-high comparable operating profit margin of 13.8%, driven by services and efficiency improvements.

• Sales grew by 3% year-over-year, with services share of sales increasing to 36%.

• Services orders received increased, while equipment orders declined; Americas sales decreased, but AMEA saw strong growth.

• Eco portfolio accounted for 46% of Q3 sales, up from 40% a year earlier.

• Guidance for 2025 remains unchanged, targeting a comparable operating profit margin above 12%.

Market environment and trends

• Global heavy material handling market expected to grow at ~4% annually, with electrification driving a 28% annual growth in electric equipment.

• 63% of customers plan zero or low emission capex by 2028; 11% of equipment orders were fully electric in Q3 LTM.

• Global GDP, container throughput, manufacturing, and retail output forecast to grow steadily through 2028.

• Tariff and trade policy volatility continues to impact decision-making, especially in the US.

Strategic positioning and growth drivers

• Holds leading market positions in reachstackers, terminal tractors, straddle carriers, and crane spreaders.

• Extensive sales and service network with 1,400+ technicians and presence in over 120 countries.

• Focused on sustainable innovation, electrification, and digital solutions to capture new value pools.

• Significant services growth potential from a large installed base and innovation-enabled offerings.