Hiab (HIAB) Q1 2026 earnings summary

Executive summary

• Organic orders received increased by 7% year-over-year, with positive book-to-bill in all regions and sequential improvement in comparable operating profit margin to 13.5%.

• Sales declined 7% year-over-year, mainly due to prior order weakness in the US.

• Strong cash generation and a robust balance sheet support both organic and inorganic growth.

• New operating model implemented in April, targeting cost reduction, scalability, and improved customer focus.

• Outlook for full-year comparable operating profit margin raised from above 13% to above 13.5%.

Financial highlights

• Orders received: EUR 402 million (+6% year-over-year, +7% organically in constant currencies); order book: EUR 562 million (-6%).

• Sales: EUR 383 million (-7% year-over-year); gross profit margin: 28.3% (down from 31.6%).

• Comparable operating profit: EUR 52 million (-22% year-over-year), margin 13.5% (down from 16.0%).

• Cash generation strong at EUR 75 million; cash conversion rate 186%.

• Net cash position of EUR 219 million at end of March; gearing at -23%.

Outlook and guidance

• 2026 comparable operating profit margin expected above 13.5%, raised from previous guidance.

• Gradual recovery anticipated in EMEA and APAC; US market expected to remain in a cyclical trough.

• EUR 20 million cost savings program to materialize mainly in H2 2026.

• Group admin costs to remain at 2025 levels, with EUR 5 million in process and systems investments.

• Full-year outlook specified after a strong start to the year.