Hiab Oyj
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Hiab Oyj
Cargotec Oyj provides cargo handling solutions and services. The company is headquartered in Helsinki, Etela-Suomen and currently employs 4,234 full-time employees. The company went IPO on 2005-06-01. The firm's business activities divided into two operation segments: Equipment and Services. The Equipment reporting segment comprises of new equipment: loader cranes, forestry and recycling cranes, truck mounted forklifts, demountables and tail lifts. The Services reporting segment comprises of spare parts, maintenance, accessories, installations, digital services and refurbished equipment. Hiab's equipment includes HIAB, EFFER and ARGOS loader cranes, MOFFETT and PRINCETON truck mounted forklifts, LOGLIFT forestry cranes, JONSERED recycling cranes, MULTILIFT skiploaders and hooklifts, GALFAB roll-off cable hoists, and tail lifts under the ZEPRO, DEL and WALTCO brands.
Cargotec Oyj provides cargo handling solutions and services. The company is headquartered in Helsinki, Etela-Suomen and currently employs 4,234 full-time employees. The company went IPO on 2005-06-01. The firm's business activities divided into two operation segments: Equipment and Services. The Equipment reporting segment comprises of new equipment: loader cranes, forestry and recycling cranes, truck mounted forklifts, demountables and tail lifts. The Services reporting segment comprises of spare parts, maintenance, accessories, installations, digital services and refurbished equipment. Hiab's equipment includes HIAB, EFFER and ARGOS loader cranes, MOFFETT and PRINCETON truck mounted forklifts, LOGLIFT forestry cranes, JONSERED recycling cranes, MULTILIFT skiploaders and hooklifts, GALFAB roll-off cable hoists, and tail lifts under the ZEPRO, DEL and WALTCO brands.
Strong Profitability: Hiab reported improved profitability in Q1, with operating profit up 7% to EUR 66 million and margin reaching 16%.
Steady Revenue: Sales were EUR 411 million, down 1% from last year, reflecting normalization of the order book and softer U.S. demand.
Order Intake Mixed: Total order intake was EUR 378 million, roughly stable year-on-year, with gains in Europe and APAC offset by a 20% decline in the Americas due to trade tensions.
Services Growth: Services orders rose 8%, driven by recurring spare parts and maintenance, while services now make up 29% of total sales.
Cash Flow & Balance Sheet: Cash conversion was strong at 170%, and net working capital improved significantly, with gearing at minus 12%.
Guidance Maintained: Hiab kept its 2025 guidance unchanged, expecting operating profit above 12% despite ongoing market uncertainty, especially from U.S. trade issues.
Cost Savings: EUR 20 million in restructuring savings are expected in 2025, mostly visible in the P&L this year.