Overview

• Finland load-handling equipment maker's Q2 revenue was flat yr/yr, comparable operating profit up 1%

• Orders received in Q2 rose 16%, reaching highest level in four years

• Company completed USD 1.04 bln Labrie acquisition, boosting waste and recycling segment

Outlook

• Hiab raises 2026 comparable operating profit margin outlook to above 14.5% from above 13.5%

• Company cites increased order book visibility, cost savings, and Labrie acquisition for outlook revision

• Hiab expects Labrie acquisition to strengthen position in waste & recycling and support growth in North America

Result Drivers

• ORDER GROWTH - Q2 orders received rose 16%, supported by large deals in the US, France, Defence Logistics, and the ING Cranes acquisition

• SERVICES SALES - Services sales increased 4%, driven by recurring services like spare parts and maintenance

• ECO PORTFOLIO - Eco portfolio sales grew 17%, representing 45% of Q2 sales

Company press release: ID:nMFN4V0s4J

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q2 Revenue		EUR 403 mln
Q2 Net Income		EUR 34.70 mln
Q2 Adjusted EBIT		EUR 61 mln
Q2 Basic EPS		EUR 0.54
Q2 EBIT		EUR 49.60 mln
Q2 Orders		EUR 437 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the heavy machinery & vehicles peer group is "buy"

• Wall Street's median 12-month price target for Hiab Oyj is €70.00, about 31.5% above its July 21 closing price of €53.25

• The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 16 three months ago

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