Kalmar (KALMAR) Investor presentation summary

Strategy and market position

• Focus on sustainable material handling, electrification, and intelligent operations to address productivity, safety, and decarbonization trends.

• Holds leading market positions in reachstackers, terminal tractors, straddle carriers, and crane spreaders, with a strong global service network and 29% spare parts capture rate.

• Asset-light business model with optimized manufacturing footprint and robust cash conversion supports agility and growth.

• Strategic pillars include investing in innovation, growing services, and driving operational excellence.

• Capital allocation prioritizes organic growth, services expansion, electrification, and shareholder returns.

Financial performance and targets

• Q2 2026 sales grew 14% year-over-year to €480 million, with comparable operating profit up 9% to €60 million and a margin of 12.4%.

• Eco portfolio sales rose 27% to 48% of total sales, with fully electric equipment orders at 10% of total.

• Order intake remained stable at €449 million, with a resilient order book of €986 million.

• Return on capital employed reached 24.1%, and leverage was at 0.0x net debt/EBITDA.

• 2028 targets include 5% annual sales growth, 15% operating profit margin, and >25% ROCE.

Regional and segment performance

• EMEA drove sales growth (+31%), Americas saw equipment sales increase, while APAC sales declined due to lower equipment demand.

• Equipment sales rose 17% to €321 million; services sales grew 10% to €158 million, with improved profitability in both segments.

• Services operating profit margin reached 17.0%, reflecting successful cost optimization and volume growth.

• Dealer network contributed 29% of global sales in 2025, supporting reach in over 120 countries.