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Kalmar (KALMAR) investor relations material
Kalmar Pre-Silent Call summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Pre-Silent Call summary6 Oct, 2025
Executive summary
Q2 2025 saw a 20% year-on-year increase in orders and a 13.1% comparable operating profit margin, driven by strong equipment profitability and robust demand in most regions except North America.
Q3 order releases are fewer, with notable orders for hybrid straddle carriers and a maintenance contract.
Market outlook for H2 2025 remains subdued due to weaker global container throughput, manufacturing output, and ongoing market uncertainties, especially in the US.
2025 guidance is unchanged, targeting a comparable operating profit margin above 12%.
Trading performance and revenue trends
Q2 sales increased by 1%, supported by a strengthened order backlog from three consecutive strong quarters and favorable demand in Europe and AMEA.
Q3 order flow is thinner, reflecting the lumpy nature of large equipment orders.
U.S. sales share dropped to 21% in H1 2025 from 26% in 2024, mainly due to tariffs and related disruptions.
US distribution end customer segment demand was hampered by market uncertainty.
Profitability and margins
Achieved a 13.1% comparable operating profit margin in Q2 2025, reflecting strong equipment profitability.
Service profitability was temporarily impacted by a U.S. warehouse move and tariffs but is recovering.
Outlook for 2025 is to maintain a comparable operating profit margin above 12%.
U.S. tariff pricing strategy & demand impact
Service business growth drivers for H2
U.S. vs. Europe demand divergence drivers
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Q3 202531 Oct, 2025
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Frequently asked questions
Kalmar Oyj is a Finnish company specializing in providing equipment and services for cargo handling in ports, terminals, distribution centers, and other heavy logistics environments. The company offers a wide range of material handling solutions, including terminal tractors, reach stackers, forklift trucks, and straddle carriers. Kalmar also focuses on automation and digitalization, offering systems that enhance the efficiency, safety, and sustainability of its clients' operations. Kalmar Oyj is headquartered in Helsinki, Finland, and its shares are listed on the Helsinki Stock Exchange.
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