Current outlook for 2025

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Current outlook #text

<h4>October 24, 2025 (outlook unchanged)</h4>
<p>Hiab estimates the <strong>comparable operating profit margin</strong> for its continuing operations in 2025 to be over <strong>13.5 percent</strong> <em>(2024: 13.2 percent).</em></p>

Performance targets table 2028 #text

<h3>Performance targets</h3>
<p>Hiab&rsquo;s Board of Directors has set the following financial targets for Hiab to measure success by 2028.</p>
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<td style="height: 22.3958px;">Targets</td>
<td style="height: 22.3958px;">Descriptions</td>
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<td style="height: 22.3958px;">&gt;7%</td>
<td style="height: 22.3958px;">Sales CAGR over the cycle.</td>
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<td style="height: 22.3958px;">16%</td>
<td style="height: 22.3958px;">Comparable operating profit by 2028.</td>
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<td style="height: 44.7917px;">&gt;25%</td>
<td style="height: 44.7917px;">Return on capital employed (defined as Operating profit / Operative capital employed).</td>
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<td style="height: 44.7917px;">SBTi</td>
<td style="height: 44.7917px;">Hiab is planning to update the climate target and apply for its validation from SBTi. The process starts in 2025.</td>
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<td style="height: 22.3958px;">&lt;50%</td>
<td style="height: 22.3958px;">Hiab aims to keep its gearing below 50%.</td>
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<td style="height: 22.3958px;">30-50% of EPS</td>
<td style="height: 22.3958px;">Hiab aims for growing dividend of 30&ndash;50% of EPS.</td>
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Performance targets image #text

Historical #text

<h3>July 23, 2025 (outlook specified)</h3>
<p>Hiab estimates the comparable operating profit margin for its continuing operations in 2025 to be over 13.5 percent (2024: 13.2 percent).</p>
<p>&nbsp;</p>
<h3>April 30, 2025 (outlook unchanged)</h3>
<p>Hiab estimates the comparable operating profit margin for its continuing operations in 2025 to be over 12.0 percent (2024: 13.2 percent).</p>
<p>&nbsp;</p>
<h3>February 12, 2025</h3>
<p>Hiab estimates the comparable operating profit margin for its continuing operations in 2025 to be over 12.0 percent (2024: 13.2 percent).</p>

2025

<h3>Updated outlook for 2024, 14 November 2024</h3>
<p>Cargotec estimates Hiab&rsquo;s comparable operating profit margin in 2024 to be above 14.0 percent.</p>
<p>The business area 2024 profitability outlook is presented using the same principles which are applied in the 2023 external financial reporting.</p>
<h4>Background for the updated outlook</h4>
<p>The outlook for Hiab, which was specified on 23 October 2024, has not been amended. As the MacGregor will be reported as part of discontinued operations, the MacGregor business has been removed from Cargotec&rsquo;s outlook for 2024. The losses which will be recorded as part of the Transaction does not impact Cargotec&rsquo;s outlook. <a href="/en/newsroom/press-releases/inside-information-cargotec-sells-macgregor-business-to-funds-managed-by-triton-for-an-enterprise-value-of-eur-480-million-to-support-hiabs-future-growth">Additional information from the stock exchange release published on 14 November 2024</a>.</p>
<h3>Outlook for 2024 specified, 23 October 2024</h3>
<p>Cargotec estimates Hiab&rsquo;s comparable operating profit margin in 2024 to be above 14.0 percent and MacGregor&rsquo;s comparable operating profit in 2024 to be above EUR 65 million.</p>
<p>In its outlook specified on 8 August 2024, Cargotec estimated Hiab&rsquo;s comparable operating profit margin in 2024 to be above 13.5 percent and MacGregor&rsquo;s comparable operating profit in 2024 to be above EUR 55 million.</p>
<h3>Outlook for 2024 specified, 8 August 2024</h3>
<p>Cargotec estimates Hiab&rsquo;s comparable operating profit margin in 2024 to be above 13.5 percent and MacGregor&rsquo;s comparable operating profit in 2024 to be above EUR 55 million.</p>
<p>In its outlook initially published on 1 February 2024, Cargotec estimated Hiab&rsquo;s comparable operating profit margin in 2024 to be above 12 percent and MacGregor&rsquo;s comparable operating profit in 2024 to improve from 2023 (EUR 33 million).</p>
<h3>Outlook for 2024 updated, 26 June 2024</h3>
<p>Cargotec Corporation (&ldquo;Cargotec&rdquo;) <a href="/en/newsroom/press-releases/cargotec-has-decided-to-complete-the-partial-demerger-of-cargotec-trading-in-kalmars-class-b-shares-is-expected-to-commence-on-1-july-2024">announced </a>on 26 June 2024 that Cargotec&rsquo;s Board of Directors has decided to complete the partial demerger of Cargotec (the &ldquo;Demerger&rdquo;) and that the completion of the Demerger and the incorporation of Kalmar as a separate new company would be registered on 30 June 2024. Cargotec updates its outlook for 2024 to take the anticipated completion of the Demerger into account.</p>
<h4>Updated outlook for 2024</h4>
<p>Cargotec estimates<sup>1</sup> Hiab&rsquo;s comparable operating profit margin in 2024 to be above 12 percent and MacGregor&rsquo;s comparable operating profit in 2024 to improve from 2023 (EUR 33 million).</p>
<p><sup>1</sup> The business area 2024 profitability outlook is presented using the same principles which are applied in the 2023 external financial reporting.</p>
<h4>Background for the updated outlook</h4>
<p>The outlook for Hiab and MacGregor businesses, which was originally published on 1 February 2024, has not been amended. As the Demerger is expected to be completed on 30 June 2024, the Kalmar business has been removed from Cargotec&rsquo;s outlook for 2024.</p>
<h3>Outlook for 2024 unchanged, 30 April 2024</h3>
<p>Cargotec estimates<sup>1</sup> Hiab&rsquo;s comparable operating profit margin in 2024 to be above 12 percent, Kalmar&rsquo;s comparable operating profit margin in 2024 to be above 11 percent, and MacGregor&rsquo;s comparable operating profit in 2024 to improve from 2023 (EUR 33 million).</p>
<p><sup>1</sup> The business area 2024 profitability outlook is presented using the same principles which are applied in the 2023 external financial reporting.</p>
<h3>Outlook for 2024, 1 February 2024</h3>
<p>Cargotec estimates<sup>1</sup> Hiab&rsquo;s comparable operating profit margin in 2024 to be above 12 percent, Kalmar&rsquo;s comparable operating profit margin in 2024 to be above 11 percent, and MacGregor&rsquo;s comparable operating profit in 2024 to improve from 2023 (EUR 33 million).</p>
<p><sup>1</sup> The business area 2024 profitability outlook is presented using the same principles which are applied in the 2023 external financial reporting.</p>

2024

Historical outlooks #accordion

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Current outlook for 2025

October 24, 2025 (outlook unchanged)

Performance targets

Historical outlook

2025

2024

Hiab Group

Hiab Brands

Targets	Descriptions
>7%	Sales CAGR over the cycle.
16%	Comparable operating profit by 2028.
>25%	Return on capital employed (defined as Operating profit / Operative capital employed).
SBTi	Hiab is planning to update the climate target and apply for its validation from SBTi. The process starts in 2025.
<50%	Hiab aims to keep its gearing below 50%.
30-50% of EPS	Hiab aims for growing dividend of 30–50% of EPS.