Slide 1: Lifting productivity for essential industries
Hiab investor presentation Built to perform Lifting productivity for essential industries Investor presentation Q2 / 2025
Slide 2: Content
Hiab investor presentation Built to perform Content 01 Introduction to Hiab 02 Investment highlights 03 Best-in-class financial profile with further value creation potential 04 Appendix 2
Slide 3: Introduction to Hiab
Hiab investor presentation Built to perform 01 Introduction to Hiab 3
Slide 4: Hiab lifts and delivers everyday goods that are essential to daily lives
Hiab investor Capital presentation Markets Day 2024 Built to perform Hiab lifts and delivers everyday goods that are essential to daily lives. Everyday goods are lifted and delivered in large quantities and volumes — customers are willing to prioritise investments for lifting productivity, safety an
Slide 5: Global load handling specialist with a compelling financial profile
Hiab investor presentation Global load handling specialist with a compelling financial profile 2024 Key Facts APAC 8% Sales 10YR Sales CAGR Other Americas 2% 1,647 MEUR +7.0% Sales by EMEA 49% geographical area (FY24) Comparable operating profit / margin 1 Return on operating capital 217 MEUR / 13.2% 2
Slide 6: Understanding specialised needs in essential industries
Hiab investor presentation Understanding specialised needs in essential industries Retail & last mile Waste & Recycling Defence logistics Infrastructure Construction Special logistics Wind Forestry Agriculture Rail Resilience from diversity Similar yet specialised High barriers to entry due to Gradu
Slide 7: Serving a diverse customer base with multiple customer types
Hiab investor presentation Serving a diverse customer base with multiple customer types A diverse customer base … with low concentration… … and multiple customer types Largest customer <3% Other Others Public & Defence Infrastructure Total top 10 Single truck owners Logistics & Construction ~13% For
Slide 8: Hiab offers lifting and delivery solutions through an extensive portfolio of brands
Hiab investor presentation Built to perform Hiab offers lifting and delivery solutions through an extensive portfolio of brands covering all types of applications Loader cranes Forestry & recycling Truck mounted Demountables Tail lifts cranes forklifts HIAB ARGOS EFFER JONSERED LOGLIFT MOFFETT PRINC
Slide 9: Market-leading innovation with brands that have defined history
Hiab investor presentation Built to perform Market-leading innovation with brands that have defined history Built on a track record of firsts “I WANT A…” HIAB MOFFETT LOGLIFT Invented the hydraulic crane that Invented the truck mounted forklift Invented the cabin for forest cranes revolutionised load
Slide 10: We are the market leader in Eco products helping customers reach their sustainability goals
Hiab investor presentation Built to perform We are the market leader in Eco products helping customers reach their sustainability goals Eco Portfolio in % of total sales (2024) 29% CO² intensity1 (23 vs. 24) Electric Moffetts ePTO Variable Hydraulic Pumps -14% The first electric truck mounted Enablin
Slide 11: Asset-light footprint with global reach
Hiab investor equity story presentation Built to perform Asset-light footprint with global reach 3,000 100 Sales and service locations Countries with delivery footprint Direct and indirect sales and service Direct sales combined with strong partner network (~60% of sales) enabling tailored density a
Slide 12: Strong track record of delivering profitable growth of CAGR >7% 2014–2024
Hiab investor presentation Built to perform Strong track record of delivering profitable growth of CAGR >7% 2014–2024 Net sales, MEUR Comparable operating profit1, % 7.4% 10.8% 13.5% 14.5% 11.7% 12.6% 11.6% 13.0% 14.0% 12.3% 13.2% 10Y Sales CAGR +7.0% Turnaround Growth strategy Covid 1 2014-2022 compa
Slide 13: Structural market trends and winning formula supporting growth
Hiab investor presentation Built to perform Structural market trends and winning formula supporting growth Application and segment expertise Superior physics-based solutions GDP Growth Safety; Productivity and uptime needs Superior service network Urbanisation Operator shortage Powered by the passio
Slide 14: Our winning formula for lifting productivity for our customers
Capital Hiab investor Markets presentation Day 2024 Built to perform Our winning formula for lifting productivity for our customers POWERED BY THE PASSION OF OUR PEOPLE DEEP UNDERSTANDING INNOVATE SOLUTIONS SUPERIOR SERVICE CUSTOMERS, OPERATORS ENABLING SUPERIOR CAPABILITIES & AND APPLICATION NEEDS
Slide 15: Investment highlights
Hiab investor presentation Built to perform 02 Investment highlights 15
Slide 16: Key investment highlights
Hiab investor presentation Built to perform Key investment highlights #1 or #2 Position in all segments 1 Leading market positions in growing and attractive essential industries Positioned to 2 Set to grow through continued innovation and grow faster than focused segment strategy the market 3 Geared
Slide 17: We are the leader in the markets where we choose to operate
Hiab investor presentation Built to perform 1 We are the leader in the markets where we choose to operate Our broad portfolio of best-in-class lifting solutions allows us to maintain market leadership Loader Cranes Forestry & Truck Mounted Forklifts Demountables Tail Lifts Services Recycling Cranes
Slide 18: Enhanced focus on key segments globally
Hiab investor presentation Built to perform 2 Enhanced focus on key segments globally Waste & Recycling Defense Logistics Retail & Last Mile Construction DEMAND — Urbanisation — Productivity requirements — Geopolitical uncertainty — Productivity requirements — Growing e-commerce — Sustainability cha
Slide 19: Geared to expand our leading position in North America
Hiab investor presentation Built to perform 3 Geared to expand our leading position in North America Where we stand How we will win in North America 01 — Accelerate value selling of complete portfolio 685 MEUR Expand through — Grow key account customer base In sales — Drive adoption of more producti
Slide 20: Further leveraging of sizable installed base and connectivity to accelerate Services growth
Hiab investor presentation Built to perform 4 Further leveraging of sizable installed base and connectivity to accelerate Services growth Strong track record of service sales growth Actions to increase aftermarket capture and grow services business 10Y Sales CAGR 01 Installed base of +350k units Ins
Slide 21: Productivity gains unlocked through decentralised business model
Hiab investor presentation Built to perform 5 Productivity gains unlocked through decentralised business model Proven success stories Commercial Excellence Tail Lifts profitability Customer engagement 1.5% transformation Value-selling tools Driving best in class Data-driven OF SALES customer service
Slide 22: Strong track record of profitable growth
Hiab investor presentation Built to perform 6 Strong track record of profitable growth Sales growth Comparable operating profit2 ROCE1 Cash conversion2 10Y CAGR Sales, MEUR +7.0% 1 Defined as Operating Profit / Operative Capital Employed. In this chart, ROCE presented as business area 2 As business area
Slide 23: Hiab is well-positioned to accelerate value-creation through M&A
Hiab investor presentation Built to perform 6 Hiab is well-positioned to accelerate value-creation through M&A Strong M&A Track Record 2017 2022 Robust & well-defined 2018 2021 M&A criteria going forward 01 Established, ”niche” markets Adjacent & Specialised with high likelihood to win Product Acquis
Slide 24: Best-in-class financial profile with further value creation potential
Hiab investor presentation Built to perform 03 Best-in-class financial profile with further value creation potential 24
Slide 25: Key targets to measure success by 2028
Hiab investor presentation Built to perform Key targets to measure success by 2028 Comparable Sales CAGR1 Operating Profit ROCE2 Sustainability >7% 16% >25% SBTi 1 Over the cycle 2 Defined as (Operating Profit / Operative Capital Employed) 25
Slide 26: Growth priorities to continue outperforming the market
Hiab investor presentation Built to perform Growth priorities to continue outperforming the market Hiab sales bridge 1,647 2024 Growth in key segments Growth in North America Growth in Services 2028 Indicative management estimate 26
Slide 27: Operative & Commercial excellence to reallocate and optimize cost base
Hiab investor presentation Built to perform Operative & Commercial excellence to reallocate and optimize cost base HIAB 2023 AMBITION Reduce costs through design to GROSS MARGIN cost, standardization, and portfolio management G&A SPEND Re-allocate cost from Indirect and Administrative to S&M and R&D
Slide 28: On track to deliver 16% margin in 2028
Hiab investor presentation Built to perform On track to deliver 16% margin in 2028 Hiab comparable operating profit margin bridge to 2028 target as business area as standalone company - The difference between Hiab as a business area and standalone is 18% corporate administrative and support functions
Slide 29: Key investment highlights
Hiab investor presentation Key investment highlights #1 or #2 Position in all segments 1 Leading market positions in growing and attractive essential industries Positioned to 2 Set to grow through continued innovation and grow faster than focused segment strategy the market 3 Geared to expand leadin
Slide 30: Appendix
Hiab investor presentation Built to perform 04 Appendix 30
Slide 31: A. Supplementary materials on Hiab
Hiab investor presentation Built to perform A. Supplementary materials on Hiab 31
Slide 32: Attractive and growing aftermarket business
Hiab investor presentation Attractive and growing aftermarket business Service sales1 2014–2024 Growth levers Digitalisation Key strategic shifts Services focus Cargotec Decentralised operations INSTALLED BASE +7% INNOVATION SERVICES NETWORK 1 AER FX rate, comparable portfolio mix over the periods 3
Slide 33: Hiab is uniquely positioned to tap into the growing installed base
Hiab investor presentation Hiab is uniquely positioned… …to tap into the increasing potential of the growing installed base. Equipment mix development 2020–2023 Value creation highlights Installed base of ~ 350,000 units 100% Achieved 2020-2023 Target 2028 ×1 Low service potential equipment Parts ca
Slide 34: Doubling our R&D investments to continue to shape the industry
Hiab investor presentation Built to perform Doubling our R&D investments to continue to shape the industry Shifting costs from overheads to R&D… …to solve industry challenges — Energy efficient cranes Sustainability Solutions — Fossil free steels Sustainability — Fully electric product offering Share
Slide 35: International leadership geared for success
Hiab investor presentation Built to perform International leadership geared for success Employees 1 > 4,000 Countries with employees Nationalities Scott Phillips Birgitte Skade Barry McGrane Magdelena Mikko Puolakka Ghita Jansson- Michael Bruninx 22 50+ President and EVP, Marketing and President, Tr
Slide 36: B. Supplementary financial materials
Hiab investor presentation Built to perform B. Supplementary financial materials 36
Slide 37: Trade tension impacted orders received in the US while demand improved in other regions
Q1/25 Interim report Trade tension impacted orders received in the US while demand improved in other regions Orders received and order book MEUR MEUR Q1/25 Q1/24 Change Orders received 378 386 -2% Order received, organic* -3% Order book 601 770 -22% - Orders received remained on a stable level for 1
Slide 38: Market uncertainty has increased especially in the US
Q1/25 Interim report Market uncertainty has increased especially in the US Orders received by geographical area, Q1/25 MEUR MEUR Q1/25 Q1/24 Change APAC 8% EMEA 203 179 13% EMEA 54% AMER 145 182 -20% APAC 30 25 23% Operating environment - Positive demand signs in some of - Trade tensions increasing
Slide 39: Sales at the comparison period's level
Q1/25 Interim report Sales at the comparison period’s level Sales MEUR MEUR Q1/25 Q1/24 Change Sales 411 415 -1% Sales, organic* -2% Share of Services, % 29% 28% - Sales at the comparison period’s level - Currencies had a 1 percentage point positive impact on sales - Share of Services increased Sale
Slide 40: Majority of Q1 sales was delivered from the end of 2024 order book, hence Americas outgrew EMEA
Q1/25 Interim report Majority of Q1 sales was delivered from the end of 2024 order book, hence Americas outgrew EMEA Sales by geographical area, Q1/25 MEUR MEUR Q1/25 Q1/24 Change APAC 6% EMEA 192 201 -4% EMEA 47% AMER 195 184 6% APAC 24 29 -18% Eco portfolio sales 142 115 24% Eco portfolio sales, %
Slide 41: Record-high comparable operating profit margin despite flat sales
Q1/25 Interim report Record-high comparable operating profit margin despite flat sales Comparable operating profit MEUR MEUR Q1/25 Q1/24 Change Comparable operating profit 66 61 7% Comparable operating profit, % 16.0% 14.8% Operative ROCE 29.6% 28.1% - Strong execution by all divisions - Commercial and s
Slide 42: We monitor closely the tariff situation
Q1/25 Interim report We monitor closely the tariff situation Equipment offering with the highest US exposure Short term actions Loader cranes Truck mounted Demountables Tail lifts -dasdasd Active monitoring of forklifts the volatile situation - Alternative suppliers & USMCA local sourcing - Price ad
Slide 43: On track to deliver on our 2028 financial targets
Q1/25 Interim report On track to deliver on our 2028 financial targets Comparable 2028 Sales CAGR1 Operating Profit ROCE2 financial targets >7% 16% >25% Rolling 10-year average LTM LTM Progress, 7% 13.7% 29.6% as of Q1/25 1 Over the cycle, LTM 10 year average 43 2 Defined as (Operating Profit / Operative
Slide 44: Reporting segments
Q1/25 Interim report 2. Reporting segments 44
Slide 45: All equipment divisions performed well in the first quarter
Q1/25 Interim report All equipment divisions performed well in the first quarter Equipment, Orders received, order book & sales MEUR MEUR Q1/25 Q1/24 Change Orders received 258 275 -6% Order book 541 709 -24% Sales 294 297 -1% Comparable operating profit 46 43 6% Comparable operating profit, % 15.7% 14
Slide 46: Improved gross profit margin led to higher profitability
Q1/25 Interim report Improved gross profit margin led to higher profitability Equipment, Comparable operating profit Equipment, Comparable operating profit bridge* MEUR MEUR Comparable operating profit Comparable operating profit, % 46 *Indicative management estimate
Slide 47: Services continued to grow
Q1/25 Interim report Services continued to grow Services, Orders received, order book & sales MEUR MEUR Q1/25 Q1/24 Change Orders received 120 111 8% Order book 60 61 -1% Sales 118 117 0% Comparable operating profit 28 27 3% Comparable operating profit, % 23.7% 22.9% - Orders received increased driven
Slide 48: Services profitability improved
Q1/25 Interim report Services profitability improved Services, Comparable operating profit Services, Comparable operating profit bridge* MEUR MEUR Comparable operating profit Comparable operating profit, % 48 *Indicative management estimate
Slide 49: Financials and outlook
Q1/25 Interim report 3. Financials and outlook 49
Slide 50: Income statement
Q1/25 Interim report Income statement Income statement Comparable operating profit bridge* MEUR Q1/25 Q1/24 Change MEUR Sales 411 415 -1% Gross profit 130 125 4% Gross profit, % 31.6% 30.2% EBITA 67 62 7% Comparable operating profit 66 61 7% Operating profit 66 61 7% Operating profit, % 16.0% 14.8% Net fin
Slide 51: Very strong balance sheet enabling organic and inorganic growth
Q1/25 Interim report Very strong balance sheet enabling organic and inorganic growth Net debt and gearing Maturity profile, 31 March 2025 MEUR MEUR Continuing operations Q1/25: Net debt -117 MEUR Gearing -12% Gearing, % (RHS) Other interest bearing liabilities* Lease liabilities Net debt Corporate bo
Slide 52: Strong cash flow driven by EBITDA and reduction in net working capital
Q1/25 Interim report Strong cash flow driven by EBITDA and reduction in net working capital Cash flow from operations before finance items and taxes MEUR 52 *Cash flow from operations before finance items and taxes **Indicative management estimate
Slide 53: Outlook for 2025 unchanged
Q1/25 Interim report Outlook for 2025 unchanged Hiab estimates: Continuing operations’ comparable operating profit margin in 2025 to be above 12.0% (2024: 13.2%) 53
Slide 54: Key financial figures
Key financial figures MEUR Q1/25 Q1/24 Change Orders received 378 386 -2% Order book 601 770 -22% Sales 411 415 -1% Gross profit, % 31.6% 30.2% EBITA 67 62 Comparable operating profit 66 61 7% Comparable operating profit, % 16.0% 14.8% Operating profit 66 61 7% Profit for the period 46 42 10% Basic earning
Slide 55: Consolidated balance sheet (1/2)
Consolidated balance sheet (1/2) Assets, MEUR 31 Mar 2025 31 Mar 2024 31 Dec 2024 Non-current assets Goodwill 240.9 608.6 240.1 Intangible assets 22.1 97.8 23.2 Property, plant and equipment 160.1 168.4 159.1 Investments in associated companies and joint ventures - 28.8 - Deferred tax assets 145.8 7
Slide 56: Consolidated balance sheet (2/2)
Consolidated balance sheet (2/2) Equity and Liabilities, MEUR 31 Mar 2025 31 Mar 2024 31 Dec 2024 Equity attributable to the shareholders of the parent company Share capital 20.0 64.3 20.0 Share premium - 98.0 - Translation differences 12.0 -76.2 14.9 Fair value reserves -0.1 -9.3 -12.0 Reserve for
Slide 57: Disclaimer
Q1/25 Interim report Disclaimer The following applies to this presentation, the oral presentation of the information in this presentation by Hiab Corporation (the “Company” or “Hiab”) or any person on behalf of the Company, and any question-and-answer session that follows the oral presentation (coll
Slide 58: Built to perform
Hiab investor presentation Built to perform Built to perform For question, please contact: Aki Vesikallio Head of Investor Relations ir@hiab.com Hiab Corporate office Itämerenkatu 25 00180 Helsinki, Finland hiab.com