Kalmar (KALMAR) Investor presentation summary

Strategy overview and market drivers

• Focus on sustainable material handling, electrification, and intelligent operations to address productivity, safety, and labor shortages.

• Strategic pillars include investing in sustainable innovations, growing services, and driving operational excellence.

• Attractive market with strong financial profile and customer proximity as foundational strengths.

Financial performance and targets

• Orders received reached a record EUR 511 million in Q4/2025, with sales up 11% to EUR 487 million.

• Comparable operating profit margin improved to 12.4% in Q4/2025, with a full-year margin of 12.8%.

• Return on capital employed (ROCE) at 23% and leverage at 0.0x, reflecting a robust balance sheet.

• Dividend payout ratio targeted at 30-50%, with a proposed dividend of EUR 1.10 per class B share for 2025.

• 2028 targets: 5% annual sales growth, 15% operating profit margin, and >25% ROCE.

Segment and regional performance

• Equipment and services both saw 11% sales growth in Q4/2025; services accounted for 35% of 2025 sales.

• Americas drove order growth (+18%), while EMEA and APAC remained stable or improved.

• Eco portfolio sales rose 14% in Q4/2025, now 44% of total sales for the year.