Hiab (HIAB) Q1 2025 earnings summary

Executive summary

• Profitability improved in Q1 2025, driven by strong execution across all divisions and robust commercial and sourcing actions.

• Successfully completed the restructuring to become a standalone company and listed on Nasdaq Helsinki as of 1 April 2025.

• Orders received remained stable overall, with declines in the Americas offset by growth in EMEA and APAC.

• Safety KPIs reached all-time best levels, supporting sustainability and people strategy.

• Market uncertainty increased, especially in the US, due to trade tensions and delayed customer decision-making.

Financial highlights

• Q1 2025 revenues were EUR 411 million, down 1% year-over-year; sales in constant currency down 2%.

• Orders received: EUR 378 million, down 2% year-over-year; order book at EUR 601 million, down 22%.

• Comparable operating profit increased to EUR 66 million (up 7% year-over-year), with margin rising to a record 16.0%.

• Gross profit margin improved to 31.6% from 30.2%.

• Profit for the period: EUR 46 million, up 10%; basic EPS EUR 0.72, up 11%.

Outlook and guidance

• Outlook for 2025 maintained: comparable operating profit margin expected above 12.0% (2024: 13.2%).

• Confidence in reaching 2028 financial targets: >7% sales CAGR, 16% operating profit margin, >25% ROCE.

• Management awaits another quarter of demand stability before considering an outlook upgrade.