Kalmar Corporation Class B · OMXHEX:KALMAR

Kalmar Corporation Class B — Kalmar Oyj B — Q3 2026 Earnings Presentation

34 slides from Kalmar Corporation Class B's earnings presentation, Oct 29, 2026

  1. Slide 1: Resilient third quarter with strong orders and robust cash generation

    Interim report January–September 2026: Resilient third quarter with strong orders and robust cash generation 29 October 2026

  2. Slide 2: Agenda

    Agenda 1. Third quarter highlights Sami Niiranen 2. Market environment President & CEO 3. Financial and business performance 1. Financial profile 2. Reporting segments Katri Hokkanen 3. Update on operating environment CFO 4. Balance sheet and cash flow 5. Guidance for 2026 1. Q&A

  3. Slide 3: 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

  4. Slide 4: Resilient third quarter with strong orders and robust cash generation

    Resilient third quarter with strong orders and robust cash generation • Overall stable demand amidst geopolitical instability • Orders received +22% yoy to EUR 458 (375) million • Sales on the level of Q3/25, at EUR 433 (436) million • Eco portfolio sales decreased, however order intake increased -

  5. Slide 5: Strong growth in orders received year on year, sequentially stable

    Strong growth in orders received year on year, sequentially stable Orders received and order book, MEUR • Stable overall demand for equipment and services across different end customer segments • Orders received +22% yoy – Currencies had a positive 1 percentage point impact in Q3 – (+) Equipment: st

  6. Slide 6: Order intake grew in all regions

    Order intake grew in all regions Orders received by geographical area, Q3/26 • (+) EMEA order intake increased driven by a few sizeable orders • (+) Americas order intake grew strongly largely driven by the Equipment segment across North America • (+) APAC order intake increased Demand environment:

  7. Slide 7: Sales on the level of the comparison period

    Sales on the level of the comparison period Sales, MEUR • Sales EUR 433 (436) million ◦ Equipment -2% ◦ Services +2% • Delays in deliveries in the APAC region • Currencies had a positive 1 percentage point impact in Q3 • Services’ share of total sales 35% 7

  8. Slide 8: Stable sales across different regions

    Stable sales across different regions Sales by geographical area, Q3/26 • (-) EMEA sales decreased slightly • (+) Americas sales grew, North America +50% year on year • (-) APAC sales decreased slightly 8

  9. Slide 9: Eco portfolio: strong growth in orders received, lower sales

    Eco portfolio: strong growth in orders received, lower sales Eco portfolio sales, MEUR and % of total sales • (+) Eco portfolio orders received grew 32% year on year and share of orders received grew to 47% of all orders • (+/-) Fully electric equipment's share of total equipment orders LTM stayed a

  10. Slide 10: Comparable operating profit margin 13%

    Comparable operating profit margin 13% Comparable operating profit, MEUR and % Comparable operating profit bridge, Q3/26 *Tariffs included in "margin" category. **"Cost impact" includes all indirect and fixed costs. • Comparable operating profit decreased year on year • Strong comparison period in S

  11. Slide 11: A solid foundation and a well diversified business with solid profitability

    A solid foundation and a well diversified business with solid profitability Services share Addressable markets by Geographical Eco portfolio of sales Q3/26 customer segment sales split Q3/26 share of sales Q3/26 Heavy Logistics Ports and Terminals APAC EMEA 24% 35% 14% 45% 35% 46% Americas 41% Manuf

  12. Slide 12: Market environment

    Latest forecast vs Q2 2026 Market environment Average growth rate 2024-28: 5.4% Average growth rate 2019-23: 2.1% Average growth rate 2024-28: 3.4% Average growth rate 2019-23: 2.7% Average growth rate 2024-28: 3.4% Average growth rate 2024-28: 2.8% Average growth rate 2019-23: 2.7% Average growth r

  13. Slide 13: Demand outlook

    Demand outlook • Kalmar expects that the total market demand for the next six (6) months remains approximately at a similar level as in the previous quarters • However, trade tensions and increased geopolitical instability could affect Kalmar’s markets and end-customer demand. 13

  14. Slide 14: Connected fleet: regional variations in activity

    Connected fleet: regional variations in activity y/y: -1% q/q: 0% Overall y/y: +3% y/y:-0% q/q: -1% q/q: +1% y/y: +1% q/q: -0% y/y:-7% q/q: -2% 70,000+ y/y: -1% installed base q/q: -1% y/y: +3% 16,800+ q/q: +3% connected y/y: +5% equipment q/q: +4% Change in equipment activity: 14 y/y = Q3/2026 vs Q

  15. Slide 15: Order releases booked in Q3/2026

    Order releases booked in Q3/2026 10 Kalmar 12 Kalmar 1 Kalmar Hybrid Kalmar Kalmar Care 2 Kalmar electric Electric Straddle Hybrid Straddle Straddle Carrier Complete Care service reachstackers and Carriers to the Carriers to with MyKalmar service contract agreement MyKalmar INSIGHT Port of Virginia®

  16. Slide 16: Actions towards sustainable growth in Q3/26

    Actions towards sustainable growth in Q3/26 Total R&D spend 3.1% of sales in January-September Industry-first fully automated EcoVadis Platinum medal for Test Centre opened in Ljungby, Sweden 2026

  17. Slide 17: Resilient performance in Q3/26

    Resilient performance in Q3/26 Equipment Services Orders received: Orders received: 310 MEUR 148 MEUR Order book: Order book: 887 MEUR 117 MEUR Sales: Sales: 281 MEUR 153 MEUR Comparable operating profit: Comparable operating profit: 35.5 MEUR/12.6% 26.8 MEUR/17.6% Other not included. 17

  18. Slide 18: Kalmar Leadership Team as of 1 October 2026

    Kalmar Leadership Team as of 1 October 2026 Sami Niiranen Katri Hokkanen Ulla Bono Thor Brenden Carina Geber-Teir Alf-Gunnar Karlgren President and CEO Chief Financial Officer SVP, General Counsel President, Terminal SVP, IR, Marketing & President, Counter Balanced Tractors Communications Arto Keski

  19. Slide 19: Kalmar plans to simplify its operating model

    Kalmar plans to simplify its operating model* to accelerate growth, enhance customer focus, and optimize operational efficiency Segments Implementation Financials Equipment & Services Governance & Timeline Outlook & Targets Equipment Simplification Reporting Structure EUR 10M Cost Savings Internal r

  20. Slide 20: Agenda

    Agenda 1. Third quarter highlights Sami Niiranen 2. Market environment President & CEO 3. Financial and business performance 4. Financial profile 5. Reporting segments Katri Hokkanen 6. Update on operating environment CFO 7. Balance sheet and cash flow 8. Guidance for 2026 9. Q&A

  21. Slide 21: Attractive and strong financial profile

    Attractive and strong financial profile Q3 2026 LTM key financial figures 1,868 MEUR 1,004 MEUR 25.3% 12.5% Orders received Order book Gross profit Comparable (30 September 2026) operating profit margin 1,819 MEUR -0.1x 22.4% 121%% Sales Leverage Return on capital Cash conversion (interest bearing n

  22. Slide 22: Equipment segment: strong order intake in Q3

    Equipment segment: strong order intake in Q3 Equipment: Sales, orders received, order book, MEUR • Strong year-on-year growth in order intake driven by sizeable orders and good development in North America • Sales decreased by 2% yoy to EUR 281 (286) million • Delivery delays in the APAC region towa

  23. Slide 23: Equipment segment: stable profitability

    Equipment segment: stable profitability Equipment: Comparable operating profit, MEUR and % Equipment: Comparable operating profit bridge, Q3/26 *Tariffs included in "margin" category. **"Cost impact" includes all indirect and fixed costs. • Stable comparable operating profit margin in 2026 • Success

  24. Slide 24: Services segment: steady order intake

    Services segment: steady order intake Services: Sales, orders received, order book, MEUR • Order intake on the level of comparison period, although sluggish demand in North America continued • Sales grew by +2% year on year 24

  25. Slide 25: Services' profitability continued to improve sequentially

    Services’ profitability continued to improve sequentially Services: Comparable operating profit, MEUR and % Services: Comparable operating profit bridge, Q3/26 *Tariffs included in "margin" category. **"Cost impact" includes all indirect and fixed costs. • Tariff impacts successfully mitigated • Inc

  26. Slide 26: Tariff landscape has been evolving

    Tariff landscape has been evolving • IEEPA tariffs ‒ Kalmar has received and continues to receive refunds of IEEPA tariffs paid in 2025-26. There was a slight positive P&L impact in Q3. • Section 232 - Steel, copper and aluminum ‒ Following the Presidential Proclamation on June 1, tariff rate is low

  27. Slide 27: Driving Excellence initiative has delivered results

    Driving Excellence initiative has delivered results • Kalmar had a target to reach EUR 50 million gross efficiency improvements by the end of 2026 • Run rate of approximately EUR 54 million annualised gross efficiency improvements achieved by end of September • The majority of the improvements secur

  28. Slide 28: 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) 28

  29. Slide 29: Strong balance sheet

    Strong balance sheet Net debt and gearing, MEUR Maturity profile, 30 September 2026* Interest-bearing net debt / EBITDA -0.1x 29 *The detailed maturing profile of lease liabilities is reported annually and estimated in the interim reports.

  30. Slide 30: Robust cash generation continued

    Robust cash generation continued Cash flow from operations before financing items and taxes, MEUR 30

  31. Slide 31: Guidance for 2026

    Guidance for 2026 Kalmar expects its comparable operating profit margin to be above 12.5 percent in 2026. 31

  32. Slide 32: Summary

    Summary • Market demand remained stable • Orders received increased largely driven by good development in North America • Very strong sales growth in North America • Comparable operating profit decreased from a high comparison period to EUR 56.4 (60.0) million, representing 13.0% (13.8) of sales • D

  33. Slide 33: Capital Markets Day 2026

    Capital Markets Day 2026 Date: 2 November 2026 Location: Flik event studio Valla, Itämerentori 2, 00180 Helsinki, Finland Agenda (local time, EET): 12:15–13:00 Registration and coffee 13:00–16:00 Presentations and webcast hosted by Carina Geber-Teir, SVP, IR, Marketing & Communications Kalmar as an

  34. Slide 34: Kalmar

    Kalmar 34 7

Kalmar Oyj B — Q3 2026 Earnings Presentation on 6ix