Kalmar (KALMAR) Pre-silent call summary

Executive summary

• Q1 orders increased 20% year-on-year, continuing strong momentum, with robust demand across divisions and regions.

• Service division delivered strong performance and record profitability, while equipment sales and overall sales declined by 9%, impacting margins.

• Significant equipment orders in Q2 included hybrid and automated straddle carriers for France and Australia, and electric straddle carriers for the UK.

• Announced a five-year green R&D program, Move2Green, involving multiple partners to drive sustainable innovation.

• Key figures are based on actual and carve-out financials due to recent demerger and listing.

Trading performance and revenue trends

• Orders remained robust in Q1, up 20% year-on-year, but sales decreased by 9%.

• Service orders and order book remained strong despite increased uncertainties.

• Equipment sales were lower than previous quarters, affecting overall margin contribution.

• Q2 featured notable orders in ports and terminals, including reachstackers for Malaysia.

Profitability and margins

• Comparable operating profit margin was resilient at 12.0% in Q1 2025.

• Service division achieved a 19% margin, while equipment margins were lower due to decreased sales volume.