Kalmar Corporation Class B · OMXHEX:KALMAR
Kalmar Corporation Class B — Investor Day (November 2026)
82 slides from Kalmar Corporation Class B's investor day presentation, Nov 2, 2026
Slide 1: Kalmar Capital Markets Day 2026
Kalmar Capital Markets Day 2026 2 November 2026
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 13:00–14:25 Presentations and webcast hosted by Carina Geber-Teir, SVP, IR, Marketing & Communications Kalmar as an investment and industrial landscape • Sami Niiranen, President & CEO • Katri Hokkanen, Chief Financial Officer • Tommi Pettersson, SVP, Strategy, Sustainability & Technology Q&A
Slide 4: Speakers today
Speakers today Sami Niiranen Katri Hokkanen Tommi Pettersson Carina Geber-Teir President and CEO Chief Financial Officer SVP, Strategy, Sustainability SVP, IR, Marketing & and Technology Communications Tamara de Gruyter Arto Keskinen Thor Brenden President, Services President, Horizontal President,
Slide 5: Kalmar as an investment and recap 2024–2026
Kalmar as an investment and recap 2024–2026
Slide 6: Making every move count
Making every Sm movecount. YF
Slide 7: Vision
Vision The forerunner in Ipc and sustainable heavy material handling solu
Slide 8: Customer engagement, services, technology, operating model, capital allocation
Customer engagement Services and aftermarket Technology Operating model Capital allocation
Slide 9: Kalmar as an investment and recap 2024–2026
Kalmar as an investment and recap 2024–2026
Slide 10: Kalmar is a business of real scale
Kalmar is a business of real scale Order Intake LTM Sales LTM 1,868 MEUR 1,819 MEUR Comparable operating profit / margin ROCE LTM 228 MEUR / 12.5 % 22.4% Eco portfolio share of sales LTM Employees ~45% ~5,300 HIGHLIGHT Installed equipment base Connected fleet 1,500+ >70,000 19,000 Service technician
Slide 11: Pure-play leader in the heavy material handling market
Pure-play leader in the heavy material handling market #1 #2-3 #1-2 #1 #1 Reachstackers1 Forklift Trucks, Terminal Straddle Spreaders medium and heavy Tractors Carriers Equipment Services 35% A leading service network in the industry, close to customers 2 Services share of sales, Q3/26 Genuine parts
Slide 12: Leading sales and service network with global scale and regional execution
Leading sales and service network in the industry with global scale and regional execution Kalmar Innovation Centre, Kalmar Innovation Centre, Tampere, Finland Ljungby, Sweden Head Office, Helsinki, Finland Kalmar Factory, Stargard, Poland Kalmar Factory, Ottawa, United States Kalmar Factory, Sales
Slide 13: Kalmar serves heavy material handling operations across all customer segments
Kalmar serves heavy material handling operations across all customer segments Ports & Terminals Distribution Heavy Logistics Manufacturing 62% of sales in 2025 19% of sales in 2025 12% of sales in 2025 7% of sales in 2025 Spare Parts | Maintenance | Upgrades & Refurbishments | Digital Solutions High
Slide 14: Achieving on our strategy set out in 2024
Achieving on our strategy set out in 2024 Strategic pillars Achievements Results Investing in 45% 11% sustainable Accelerating R&D Eco portfolio share of Share of fully electric equipment 1 innovations sales (37%) orders (12%) 1 Growing +6 pp 30% Strengthening Services for the future Services share
Slide 15: Steady historical over-the-cycle sales growth
Steady historical over-the-cycle sales growth Historical sales development Comparable operating profit development What we have (excl. heavy cranes), MEUR1 (excl. heavy cranes), MEUR2 229 done/Growth levers +3.2% 219 (12.6%) (12.7%) • Large and growing installed base and connectivity • Increased sha
Slide 16: Kalmar 2030 strategy
Kalmar 2030 strategy Investing in Driving Sustainable Growth Innovations Accelerating Services and Customer Lifetime value Foundations Customer proximity • Dynamic talent & growth-driven culture • Attractive market • Strong financial profile • Driving Excellence
Slide 17: Solid foundation enabling accelerated growth and value creation
Solid foundation enabling accelerated growth and value creation Global leader in an attractive market for Strong financial profile and a global mission-critical heavy material handling. asset-light footprint enabling investments Geared for regional growth in growth and efficiency improvement Partner
Slide 18: Key Performance Targets by 2030
Key Performance Targets by 2030 >8% 16% >25% sales growth p.a. Comparable ROCE2 over the cycle operating profit1 margin >50% 800 MEUR 50 MEUR Eco portfolio share of Services sales Gross efficiency sales improvements3 by the end of 2030 1 Not including forward points / interest points related to FX h
Slide 19: Geared to grow with a diverse and winning team
Geared to grow with a diverse and winning team Sales in Employees in ~5,300 ~120 33 Employees countries countries Regional split of employees Sami Niiranen Ulla Bono Thor Brenden Carina Geber-Teir Tamara de Gruyter Americas President and CEO SVP, General President, Counter SVP, IR, Marketing & Presi
Slide 20: Accelerating growth towards 2030 and beyond
Accelerating growth towards 2030 and beyond >50% >8% Eco portfolio share of sales sales growth p.a. over the cycle Investing in Driving Sustainable Growth 800 MEUR Innovations 16% Services sales Comparable operating profit1 margin 50 MEUR >25% Gross efficiency improvements3 by ROCE2 the end of 2030
Slide 21: Future will be more electric and intelligent
Future will be more electric and intelligent
Slide 22: Industrial landscape
Industrial landscape
Slide 23: Market growth underpinned by megatrends and customer expectations
Market growth underpinned by megatrends and customer expectations Megatrends Decarbonization and Labour Digital Changing logistics electrification shortage evolution landscape Ports & Terminals Distribution Manufacturing Heavy logistics Baseline growth tied to global trade growth Productivity Safety
Slide 24: An attractive and growing addressable market projected to grow ~6% CAGR
An attractive and growing addressable market projected to grow ~6% CAGR over ‘25-’30 Global heavy material handling market Market size1,2, nominal growth, EUR bn, 2025-2030F 5.7% p.a. 11.8 Growth drivers 9.0 6.4 Services +4.6% p.a. • • Global fleet growth Cyclical upcycle • Digitalisation & automati
Slide 25: Market environment trending in our favor
Latest forecast vs Q2 2026 Market environment trending in our favor Average growth rate 2025-30: 4.1% Average growth rate 2020-25: 3.7% Average growth rate 2025-30: 3.3% Average growth rate 2020-25: 3.0% Average growth rate 2025-30: 3.3% Average growth rate 2025-30: 2.7% Average growth rate 2020-25:
Slide 26: Strong growth in the electric equipment market
Strong growth in the electric equipment market Global heavy material handling Kalmar’s market position and order intake development in key fully market - fully electric electric equipment categories Total market size1,2,3, nominal growth, EUR bn, 2025-2030F Scale-up Global leader EMEA leader phase 2
Slide 27: The future will be more intelligent
The future will be more intelligent Automation development Automation demand growth drivers Automated container terminal capacity1, TEUm ~7% p.a. ~300-350 CAGR Labour shortage ’24-’30 ~120-140 +9% ~200 Productivity needs ~70 ~180-210 +6% ~130 Safety 2024 2030 Pilot Semi automated capacity Fully auto
Slide 28: Why customers choose us
Why customers choose us Global support network, keeping customer operations moving Technical advantage – low energy consumption & high productivity Safety and ergonomics through operator-focused design Engineered for endurance and performance – lower total cost of ownership
Slide 29: An attractive market with growth opportunities beyond ports and terminals
An attractive market with growth opportunities beyond ports and terminals Addressable markets by customer segment 20251 Kalmar sales split 20252 Manufacturing Manufacturing 7% Ports and 16% Ports and Heavy Logistics Terminals (12%) Terminals 62% 59% 12% Heavy (45%) Logistics 11% (17%) Distribution 1
Slide 30: Ports & Terminals
Ports & Terminals Customers in the segment • Container, intermodal, and inland terminals; liquid Sales by bulk terminals, empty container depots customer segment Segment-specific growth drivers • Need for higher throughput & productivity, global trade growth, shifting trade routes and nearshoring, f
Slide 31: Distribution
Distribution Customers in the segment • Distribution & logistic centres Sales by customer Segment-specific growth drivers segment • E-commerce and omnichannel retail volume, warehouse and DC footprint expansion, fleet replacement cycles 14.3% 14% Segment Share of total High High CAGR addressable ele
Slide 32: Heavy Logistics
Heavy Logistics Customers in the segment • Energy production & projects, defence logistics, mining Sales by support, infrastructure & construction, freight forwarding customer segment Segment-specific growth drivers • Renewable energy & wind infrastructure investments, defence investments, mining in
Slide 33: Manufacturing
Manufacturing Customers in the segment • Metals processing, forestry (wood and wood products, pulp Sales by and paper), chemicals, automotive, food & beverages customer segment Segment-specific growth drivers • Reshoring & expanding local capacity, industrial production growth, fleet replacement cyc
Slide 34: Kalmar is addressing regions with the highest growth potential
Kalmar is addressing regions with the highest growth potential Global heavy material handling market by region Total Geographical split market size Total market size1,2 in 2025 Sales distribution, L12M Q3/2026 9 €bn APAC Americas 3.6 14% 33% 2.8 2.5 Sales by geography CAGR EMEA ‘25-’30 7.2% 4.8% 4.6
Slide 35: Geared to grow and shape the industry
Geared to grow and shape the industry Supporting macro environment Large and growing market Distribution segment recovery The future will be more intelligent and electric
Slide 36: Industrial landscape
Industrial landscape
Slide 37: Q&A
Q&A
Slide 38: Accelerating service and customer lifetime value
Accelerating service and customer lifetime value
Slide 39: Accelerating service and customer lifetime value
Accelerating service and customer lifetime value
Slide 40: Providing unmatched value to customers
Providing unmatched value to customers Reliability & uptime Efficiency Trends driving automation Ease of doing business
Slide 41: Customer quotes from our releases and other materials
Customer quotes from our releases and other materials "We’ve seen the value of “Experiencing the high “As a long-term partner, Kalmar’s expertise uptime and efficiency of Kalmar can offer the firsthand since we first Kalmar’s electric proven technology and joined forces in 2016. This technology firs
Slide 42: Increased productivity with Victoria International Container Terminal
Increased productivity and more efficient terminal operations with Victoria International Container Terminal Customer need Container terminals push for higher throughput. • The ability to handle heavy twin container moves efficiently increasingly important. Solution The hybrid AutoStrads for twin li
Slide 43: Experience the Kalmar feeling
Experience the Kalmar feeling Handles like no other Safety like no other Technology like no other With our advanced driving assist With many more safety features With advanced diagnostics and system operators will feel the fitted as standard than any other proven technology accessible difference fro
Slide 44: Intelligence drives service growth
Intelligence drives service growth Customers with connected machines are about twice as likely 2x to buy parts directly from Kalmar, compared to customers without connected machines.
Slide 45: Sustainable innovations help our customers to stay ahead
Sustainable innovations help our customers to stay ahead Current and future Sustainable Services & customer Growth customer needs innovations lifetime value Kalmar RDI Priorities 3.1% of sales to R&D Data & digitally Automation & Electrification & Future (2025) enabled services robotics Decarbonisat
Slide 46: Accelerating service and customer lifetime value
Accelerating service and customer lifetime value
Slide 47: Solid service portfolio and accelerating spare parts capture rate
Solid service portfolio and accelerating spare parts capture rate development Upgrade projects and Parts capture rate refurbishments Development, 2021-2026 (Q3 LTM) Parts 15% 50% 621 MEUR Service sales Q3/2026 LTM Maintenance, contracts & on-call 36% Note: Figures may not sum to 100% due to rounding
Slide 48: Good progress in connectivity and digitalisation
Good progress in connectivity and digitalisation Kalmar connected fleet is Half of parts sales coming from growing fast digital channels +7,400 connected machines, +14% a year 56% increase in spare parts purchased online +14% p.a. +56% 4 bn 4 bn 19,000 50% 11,600 32% 2022 2026 Sep 2019 2026 Sep LTM
Slide 49: EV creating new opportunities for services
EV creating new opportunities for services of maintenance is linked to load 70% handling part of the equipment contract attachment rate 2x in EVs vs. diesel
Slide 50: Actions to accelerate service growth
Actions to accelerate service growth Design to service in the Next Generation Working to ensure service & parts offering in every quote Pushing for data driven service solutions - MyKalmar INSIGHT and Inspector Capturing full service potential by extending equipment lifecycle
Slide 51: Break
Break aa Kalmar
Slide 52: Enabling future customer value through sustainable innovation
Enabling future customer value through sustainable innovation
Slide 53: Enabling future customer value through sustainable innovation
Enabling future customer value through sustainable innovation
Slide 54: Major shifts in technology are driving growth
Major shifts in technology are driving growth Maturity Key shifts Impact to customers Continuous Attractive total cost of ownership advancements, Infrastructure build-up needs Electrification Maturing decrease in Need for reliable service component cost partnerships with new skills Skilled labour Ac
Slide 55: Strong data foundations for intelligence-driven growth
Strong data foundations for intelligence-driven growth and operational excellence Unique data from multiple Data enables increasing Creating unmatched value for sources amount of new applications customers and operational excellence Machine (IoT) data Preventing unplanned downtime from connected • D
Slide 56: From investments to offering
From investments to offering Offering expansion driven by innovation 2027-2031 Next generation Leveraging automation New lifecycle solutions Digital solutions equipment offering ranges expertise innovation Across all equipment Expanding automation Ensuring customer Unique data-driven divisions to ne
Slide 57: Accelerating technology development through strong ecosystems
Accelerating technology development through strong ecosystems Electrification Data-Driven Services and Processes Expanding electrification into an Translating real-time intelligence economically viable customer-site into measurable efficiency energy ecosystem Move2Green Net-zero heavy industrial log
Slide 58: A culture of innovation
A culture of innovation Driving Kalmar’s success now and tomorrow Close to 10% of Kalmar personnel working in research & development roles globally Majority of 2025 R&D expenditures invested on new technologies and solutions AI and machine learning systems in operative use, improving customer experi
Slide 59: Slide 59
Slide 60: Growth plan and journey to 2030
Growth plan and journey to 2030
Slide 61: Successful execution from spin off towards margin expansion and higher growth
Successful execution from spin off towards margin expansion and higher growth < 2024 2024–2026 2027–2030 Strategic focus Strategic focus Strategic focus Portfolio width Focus on core Shift to and depth and excellence accelerated growth
Slide 62: Growth plan and journey to 2030
Growth plan and journey to 2030
Slide 63: Kalmar 2030 strategy
Kalmar 2030 strategy Investing in Driving Sustainable Growth Innovations Accelerating Services and Customer Lifetime value Foundations Customer proximity • Dynamic talent & growth-driven culture • Attractive market • Strong financial profile • Driving Excellence
Slide 64: Strong focus on accelerating profitable and sustainable growth
Strong focus on accelerating profitable and sustainable growth • Targeting under-penetrated Sales, illustrative customer segments and geographical areas Services • Capturing EV and automation growth Growth and Services value creation • Expanding lifetime installed through base value capture >8% CAGR
Slide 65: Innovation at core to drive Equipment growth
Innovation at core to drive Equipment growth EQT sales, MEUR -17% Geographical expansion 618 Automation & Targeting EV growth under-penetrated ICE & hybrid Distribution equipment Capturing an geographical areas market (–) emerging pivotal and customer 1,442 growth shift in automation segments with t
Slide 66: Towards 800 MEUR: Accelerating recurring Service business
Towards 800 MEUR: Accelerating recurring Service business and intelligent solutions Services sales, MEUR +10% Upgrade projects and 618 Data-driven refurbishments solutions Transactional Used equipment and Parts capture services Digital sales rental, modernization rate increase (eCommerce, fleet & up
Slide 67: Profitable and sustainable growth through value-creating technologies and services
Profitable and sustainable growth has been delivered through value-creating technologies and services Revenue per unit sold1 annually, indexed 2016 =100 Growth in customer 156 value-creating service solutions Increasing technological sophistication – High voltage EV drivelines, fit-for-application d
Slide 68: Highly efficient footprint, close to customers
Highly efficient footprint, close to customers Prioritising regions with high service growth potential Strategic focus 3 Retain market position & opportunistic market capture 3 2 4 4 2 1 1 6 5 Americas EMEA + Oceania Asia Addressable market CAGR ‘25-’30 7.2% 4.8% 4.6% Kalmar Factory Kalmar Innovatio
Slide 69: New simplified operating model to enhance growth and customer focus
New simplified operating model to enhance growth and customer focus 10 MEUR Cost Savings Simplification Focus Ways of working (Full run rate achieved by end of 2027) Unifying two Lean operations, R&D and Service dedication equipment divisions simplified processes
Slide 70: Growth plan and journey to 2030
Growth plan and journey to 2030
Slide 71: Financial framework driving sustainable value creation
Financial framework driving sustainable value creation Financial Framework 2030 Targets Priorities Drive Profitable Growth >8% Via focused and disciplined capital Sales Growth p.a. over the cycle allocation Capital Allocation Accelerating Driving Profitable Growth Growth Agile Execution 16% Faster a
Slide 72: Dual growth engines – Success driven by improvements in both segments
Dual growth engines – Success driven by improvements in both segments Equipment Services Orders received: Orders received: 2024–2026: +15% 2024–2026: +4% 1,263 MEUR* 605 MEUR* Sales: Sales: 2024–2026: +3% 2024–2026: +11% 1,197 MEUR* 621 MEUR* Comparable operating profit: Comparable operating profit:
Slide 73: Pathway with focused actions to higher profitability
Pathway with focused actions to higher profitability 16.0% 12.5% Structural efficiency Services growth improvements Equipment growth & efficiency 567 Delivering on Absolute unit Parts potential capture of a an efficient customer- volume growth growing installed base centric operating model Value-add
Slide 74: Driving excellence has yielded good results
Driving excellence has yielded good results but continuous improvements needed to protect COP Gross efficiency improvements secured Driving excellence continues as a Cumulative MEUR, 2024-Q3/2026 foundational element of Kalmar strategy Sourcing improvements +50 MEUR Targeted Value capture from addit
Slide 75: Efficient working capital management & industry-leading cash conversion
Efficient working capital management & industry-leading cash conversion Net working capital1,2 development Cash conversion1,3 development MEUR MEUR 1) All figures before 30.6.2024 are prepared on carve-out basis and do not represent Kalmar on a standalone basis 2) Net working capital defined as inve
Slide 76: Top-tier return on capital employed
Top-tier return on capital employed Return on capital employed1 (ROCE, last 12 months) 1) Defined as (Profit before taxes + finance expenses, last 12 months) / (Total invested equity + interest-bearing debt (12 months average))
Slide 77: Capital allocation that drives growth and value creation
Capital allocation that drives growth and value creation Investing for organic growth Shareholder returns Value creating acquisitions Leverage target ~2% ~3% 30-50% <2.5x Capex1 ratio R&D ratio Dividend payout ratio Net debt to EBITDA (2.2% 2025) (3.1% 2025) (43% 2025) (-0.1x Q3/2026) Focus on devel
Slide 78: Accelerating growth through targeted M&A
Accelerating growth through targeted M&A that strengthen our offering M&A focus areas Key principles Market attractiveness Supporting financial targets Reinforcing Adjacent to Vertical the core the core integration Strategic fit Example Example Example Service New equipment IP, technology Supporting
Slide 79: Making every move count
Making every move count Customer proximity and trust in an attractive market Intelligent solutions with strong service support network World-leading technology and talented people Strong foundation to accelerate growth and value creation
Slide 80: Making every move count
Making every Sm movecount. YF
Slide 81: Q&A
Q&A
Slide 82: Kalmar
Kalmar