Hiab (HIAB) Q3 2026 earnings summary

Executive summary

• Q3 sales rose 39% to €481m, including 5% organic growth; comparable operating profit increased 73% to €69m, with a 14.2% margin.

• EVS consolidation significantly boosted reported orders and sales; integration progressed to plan after acquisition completion on 1 July.

• 2026 comparable operating profit margin guidance remained above 14.5%.

Financial highlights

• Q3 orders received were €441m, up 26%; organic constant-currency orders declined 4%, while acquisitions contributed €101m.

• Q3 sales were €481m, up 39%, with 5% organic constant-currency growth; EVS contributed €103m and ING Cranes €13m.

• Comparable EBITA was €74.7m, up 85%, with a 15.5% margin; comparable operating profit was €69m versus €40m a year earlier.

• Q3 operating profit was €53.8m, including €15m of items affecting comparability; net profit was €29.1m and basic EPS €0.45.

• Operating cash flow before finance items and taxes was €98m versus €69m, supported by lower inventory and receivables.

Outlook and guidance

• FY 2026 comparable operating profit margin is expected to exceed 14.5%, versus 13.7% in 2025; guidance excludes EVS order-book PPA amortisation.

• Q3 YTD comparable operating profit margin was 14.3%; the aim is to achieve the highest comparable operating profit margin in the business’s history in 2026.

• EVS synergies are expected to exceed €12m at 2029 operating-profit run rate; 2026 cost savings of ~€20m remain on track.

• 2028 targets include sales CAGR above 7%, comparable operating profit margin of 16%, ROCE above 25% and gearing below 50%.

• 2026 items affecting comparability are estimated at ~€60m; capital expenditure excluding acquisitions is estimated at ~€80m.