Cargotec Corporation (0MGH) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to HIEB's full year 2025 results call. My name is Aki Vesikallia. I'm from Investor Relations. Today's results will be presented by CEO Scott Phillips and CFO Mikko Puolakko. As a reminder, please pay attention to the disclaimer in the presentation as we will be making forward-looking statements. Before handing over to Scott and Mikko, let's take a quick look at the highlights of the year. Market environment was characterized by increased trade tensions and uncertainties, and our orders received remained at past two years level. Sales declined by 6%, but we increased our comparable operating profit margin and achieved a new record of 13.7%. Also, our services business had a record year. Strong gas generation continued, and we acquired ING Cranes, significantly expanding our presence in Brazil. Let's then view today's agenda. First, Scott will present the group-level topics and strategic development. Mikko will go through the reporting segments, financials in more detail, and the outlook. After Mikko, Scott will join the stage for key takeaways before the Q&A session. With that, over to you, Scott. Thank you, Aki. And good morning, everyone, from my side. So starting first with the demand environment, I'd characterize the full year situation as our orders remaining on a similar level to the prior two years. As you can see visually on the left-hand side of the slide, the last three years were quite on a similar level, and we've talked about the demand environment that's led to that. Drawing your attention a bit more to the right-hand side of the slide, going into the numbers, first starting with comparing quarter versus quarter. Orders received for the quarter last year were 375, or in 2025, 375 million euros versus prior year, 414 million euros for a 9% change...