Slide 1: Q2 2024: Continued solid profitability and a successful listing of Kalmar
Q2 2024: Continued solid profitability and a successful listing of Kalmar Roadshow August 2024 August 2024 1
Slide 2: Disclaimer
Disclaimer This presentation includes forward-looking statements that are based on present plans, estimates, projections and expectations and are not guarantees of future performance. These forward-looking statements are subject to numerous risks, uncertainties and assumptions, including risks relat
Slide 3: Agenda
Agenda ● Successful listing of Kalmar ● Strategy & performance targets ● Q2 2024 financials ● Investment highlights ● Appendix ○ Key figures ○ Segment figures ○ COP bridge ○ Balance sheet & cash flow key items ○ Outlook 2024 unchanged 3
Slide 4: Successful listing of Kalmar and continued solid profitability
We are pleased to report a stable second quarter marked by Successful continued solid profitability. As we look to the future, our strategy is clear: to drive sustainable growth by leading the listing of Kalmar industry towards greater electrification, accelerate service and continued growth and dri
Slide 5: Celebrations across the world at Kalmar sites
Celebrations across the world at Kalmar sites 5
Slide 6: Strategy & performance targets
Strategy & performance targets 6
Slide 7: Making every move count
Making every move count Market drivers Productivity Vision: Forerunner in sustainable material Safety handling equipment and services Intelligent operations Decarbonisation & Electrification Changing logistics landscape Labour shortage Strategic pillars Investing in Sustainable Innovations Growing S
Slide 8: Pure-play leader in the heavy material handling market
Pure-play leader in the heavy material handling market #1 #2-3 #1 #1 #1 Reachstackers1 Forklift Trucks, Terminal Straddle Spreaders medium and heavy Tractors Carriers EQUIPMENT SERVICES A leading service network in the industry, close to customers2 Spare parts Maintenance Lifecycle solutions # Refer
Slide 9: Leading sales and service network in the industry
Leading sales and service network in the industry Kalmar Innovation Centre, Kalmar Innovation Centre, Tampere, Finland Ljungby, Sweden Head Office, Helsinki, Finland Kalmar Factory, Stargard, Poland 1,300+ Kalmar Factory, Ottawa, United States Service Kalmar Factory, technicians Shanghai, China Sale
Slide 10: Strengthening our solutions portfolio
Strengthening our solutions portfolio Launch of the Kalmar Electric Unveiling the Kalmar Ottawa T2 MyKalmar 2.0. digital ecosystem empty container handler Electric Terminal Tractor introduced: one stop platform for Kalmar equipment owners 10
Slide 11: Kalmar's performance targets for 2028
Kalmar’s performance targets for 2028 Financial targets 5% 15% >25% Sales growth p.a. Comparable operating ROCE1 over the cycle profit margin Capital Aligned with2 Kalmar aims for a structure and SBTi targets <2x dividend payout ratio of sustainability framework with 1.5°C Leverage3 (Net Debt to EBI
Slide 12: Kalmar details its driving excellence initiative
Kalmar details its driving excellence initiative targeting efficiency gains across its operations Driving excellence to target best-in-class commercial performance and cost efficiency 2021 2022 2023 2024 2025 2026 2027 2028 Exit Heavy Cranes Business* Portfolio Optimisation Exit End-to-End Automatio
Slide 13: Q2 2024
Q2 2024 13
Slide 14: Q2/2024 highlights – Continued solid profitability and successful listing
Q2/2024 highlights – Continued solid profitability and successful listing of Kalmar Comparable operating profit, MEUR and %1 • Solid profitability primarily driven by commercial performance • Mixed demand picture, with some softness especially in the North American distribution customer segment • Su
Slide 15: A solid foundation and a well diversified business
A solid foundation and a well diversified business with solid profitability Services Addressable markets by Geographical Eco portfolio share of sales customer segment sales split share of sales Ports and Terminals AMEA Heavy Europe Logistics 35% 23% 38% 24% 33% 40% Manufacturing Distribution America
Slide 16: Market is pushing for electrification and customers are increasingly active
Market is pushing for electrification and our customers are increasingly active Electrification is driving the market3 Safety, Sustainability & Regulation accelerates decarbonisation 14% 63% of equipment of customers plan 41% orders were fully zero or low emission electric in Q2/241 capex by 20282 4
Slide 17: Demand sequentially stable despite slight decline in order intake
Demand sequentially on a stable level despite a slight decline in order intake in Q2 Orders received, MEUR MEUR Q2/24 Q2/23 Change Orders received 375 437 -14% Orders received by region, Q2/24 AMEA Europe 28% 45% • Underlying demand drivers mixed Americas • Delayed decision making continued in order
Slide 18: Order book declined from the comparison period
Order book declined from the comparison period Order book, MEUR MEUR Q2/24 Q2/23 Change Order book 925 1,281 -28% • Order book providing good visibility for the second half of 2024 • Cost structure adjusted to lower order book 18 Q2/2024 actual order book on 30.6.2024, carve-out figures for all other
Slide 19: Slower market activity reflected in sales decline and lower order book
Slower market activity reflected in sales decline and lower order book Sales, MEUR MEUR Q2/24 Q2/23 Change Sales 417 552 -25% Sales by region, Q2/24 AMEA Europe 23% 38% Americas 39% 19 Carve-out figures
Slide 20: Share of eco portfolio sales continued to increase
Share of eco portfolio sales continued to increase Eco portfolio sales, MEUR MEUR Q2/24 Q2/23 Change Eco portfolio sales, 168 181 -7% MEUR % of total sales 40% 33% • 40% of our total sales was attributed to our eco portfolio, underscoring our commitment to sustainable innovation • Customers’ interes
Slide 21: Good business performance in both segments in Q2
Good business performance in both segments in Q2 Equipment Services Orders received: Orders received: 238 MEUR 137 MEUR Order book1: Order book1: 809 MEUR 110 MEUR Sales: Sales: 279 MEUR 139 MEUR Comparable OP: Comparable OP: 36.4 MEUR/13.1% 24.0 MEUR/17.3% Other not included. Q2/2024 carve-out figu
Slide 22: Investment highlights – Making every move count
Investment highlights – Making every move count Global leader in an attractive market for 01 mission-critical heavy material handling Partnering long-term with our customers 02 to deliver a stronger impact Geared to grow by making the industry more People with unique 03 electrified, intelligent and
Slide 23: Appendix
Appendix < Kalmar
Slide 24: Key figures
Key figures MEUR 2/24 Q2/23 Change Q1-Q2/24 Q1-Q2/23 Change 2023 Carve-out Carve-out Carve-out Carve-out Carve-out Orders received 376 437 “14% TIT 908 “14% 4.705 Order book. end of period 925 1.281 -28% 925 1281 -28% 1024 Sales AT 562 -25% 856 4.037 7% 2.050 Eco portfolio sales 468 421 “1% 344 od 1
Slide 25: Attractive & strong financial profile
Attractive & strong financial profile Q2/2024 LTM key financial figures €1,574 MEUR €925 MEUR 25.5% 12.5% Orders received Order book1 Gross profit Comparable (at 30 June 2024) operating profit margin €1,868 MEUR 0.6x 20.2% 148% Sales Leverage Return on capital Cash conversion (interest bearing net d
Slide 26: Lower order book visible in equipment sales
Lower order book visible in equipment sales Equipment; Sales, orders received, order book, MEUR Equipment; Comparable operating profit, MEUR and % MEUR Q2/24 Q2/23 Change • Fully electric equipment contributed to Orders received 238 302 -21% 14% of the orders received in Q2/2024 Order book 809 1,146
Slide 27: Services sales stable
Services sales stable Services; Sales, orders received, order book, MEUR Services; Comparable operating profit, MEUR and % MEUR Q2/24 Q2/23 Change ● Services profitability has grown steadily, Orders received 137 135 2% Order book 110 108 2% currently presenting a solid profitability Sales 139 142 -2
Slide 28: Resilient performance driving solid profitability despite lower sales volumes
Resilient performance driving solid profitability despite lower sales volumes Comparable operating profit bridge, amounts in MEUR ● In line with the previously communicated 30 meur annual cost savings, approximately 20 meur are visible in H1/2024 fixed overhead and production costs. H1/2023 H1/2024
Slide 29: Kalmar's return on capital employed enables long-term growth
Kalmar’s return on capital employed enables long-term growth Return on capital employed (ROCE, last 12 months) 29
Slide 30: Balance sheet key items
Balance sheet key items 31 Dec 2021 31 Dec 2022 31 Dec 2023 30 Jun 2023 30 Jun 2024 MEUR carve-out carve-out carve-out carve-out Total current assets 1,121 1,266 1,190 1,352 1,081 o/w Cash 103 100 83 77 249 o/w Net Working Capital 62 62 92 217 89 Total non-current assets 638 639 656 630 653 Total As
Slide 31: Cash flow key items
Cash flow key items 2021 2022 2023 Q2 2023 Q2 2024 MEUR carve-out carve-out carve-out carve-out carve-out Capital Expenditure 38 60 82 16 19 % Sales 2.5% 3.1% 4.0% 2.8% 4.6% Change in Working Capital -42 12 -32 -85 -39 % Change in Sales -2.8% 0.6% -1.5% -15.4% -9.4% Cash Flow from Operations Before
Slide 32: Outlook for 2024 unchanged
Outlook for 2024 unchanged As published on 1 July 2024, Kalmar’s comparable operating profit margin as a standalone company is estimated to be above 11 percent in 2024. 32
Slide 33: Making every move count.
Making every move count.