Sales decreased by 4 percent and totalled EUR 814 (847) million. The organic decrease in constant currencies was 4 percent.

Order book amounted to EUR 556 (31 Dec 2024: 648) million at the end of the period.

Orders received increased by 3 percent and totalled EUR 755 (734) million. The organic increase in constant currencies was 3 percent.

Sales decreased by 7 percent and totalled EUR 402 (433) million. The organic decrease in constant currencies was 5 percent.

Order book amounted to EUR 556 (31 Dec 2024: 648) million at the end of the period.

Orders received increased by 8 percent and totalled EUR 377 (348) million. The organic increase in constant currencies was 10 percent.

Unless otherwise stated, the financial information in this report concerns Hiab’s continuing operations. This half-year report is unaudited.

Closing of the sale of MacGregor is expected on 31 July

Outlook for 2025 specified: Hiab estimates its continuing operations’ comparable operating profit margin in 2025 to be above 13.5 percent (2024: 13.2 percent)

Comparable operating profit margin in Q2 improved to 15.0 (14.5) percent due to strong execution on commercial and supply chain actions

Story continues

Outlook for 2025 specified

Hiab estimates its continuing operations’ comparable operating profit margin in 2025 to be above 13.5 percent (2024: 13.2 percent).

In its outlook initially published on 12 February 2025, Hiab estimated continuing operations’ comparable operating profit margin in 2025 to be above 12.0 percent.

Hiab updated its reporting structure

Due to the signed agreement to sell the MacGregor business area, with closing expected on 31 July 2025, MacGregor has been reported as part of discontinued operations since the fourth quarter of 2024 onwards.

To provide a basis for comparison, Hiab published its reclassified financial information of continuing operations for all quarters of 2023 and the first three quarters of 2024 separately, as well as for the full year 2023 on 7 January 2025.

As of 1 January 2025, Hiab has two reporting segments, Equipment and Services. Reporting of the new segments commenced in the January–March 2025 interim report. Hiab published its reclassified financial information of reportable segments and Group administration for all quarters of 2024, as well as for the full year 2024 on 28 March 2025.

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.

Additionally, Hiab reports operating profit information related to its Group administration. This reflects former Cargotec’s continuing operations administration and support functions’ costs and certain administration and support functions’ costs previously booked in the former Hiab business area.

The reclassified financial information is unaudited.

Hiab’s key figures

MEUR Q2/25 Q2/24 Change Q1–Q2/25 Q1–Q2/24 Change 2024 Orders received 377 348 8% 755 734 3% 1,509 Services orders, % of orders 32% 32% 32% 30% 30% Order book, end of period 556 676 -18% 556 676 -18% 648 Sales 402 433 -7% 814 847 -4% 1,647 Services sales, % of sales 29% 27% 29% 27% 28% Eco portfolio sales* 155 126 23% 297 240 24% 476 Eco portfolio sales, % of sales* 38% 29% 37% 28% 29% EBITA 61.0 63.6 -4% 127.5 125.7 1% 220.2 EBITA, % 15.2% 14.7% 15.7% 14.8% 13.4% Operating profit 60.2 62.8 -4% 125.9 124.1 1% 217.1 Operating profit, % 15.0% 14.5% 15.5% 14.7% 13.2% Comparable operating profit 60.2 62.8 -4% 125.9 124.1 1% 217.1 Comparable operating profit, % 15.0% 14.5% 15.5% 14.7% 13.2% Profit before taxes 59.0 62.7 -6% 123.1 122.8 0% 213.4 Profit for the period 43.5 46.2 -6% 89.5 88.1 2% 155.0 Basic earnings per share, EUR 0.67 0.72 -6% 1.39 1.37 2% 2.40 Operative return on capital employed (operative ROCE) (%), last 12 months** 30.4% 27.1% 30.4% 27.1% 28.2% Personnel, end of period 4,092 4,241 -4% 4,092 4,241 -4% 4,234

*Hiab’s eco portfolio criteria has been revised. The comparison periods have not been restated.

**Comparative information for operative return on capital employed has been restated to include continuing operations Group administration costs.

Hiab’s key figures

Among the below presented key figures, all include both continuing and discontinued operations.

MEUR Q2/25 Q2/24 Change Q1–Q2/25 Q1–Q2/24 Change 2024 Cash flow from operations before finance items and taxes 55.9 89.0 -37% 182.6 262.9 -31% 582.3 Interest-bearing net debt, end of period -228 18 < -100% -228 18 < -100% -186 Gearing, % -21.9% 1.5% -21.9% 1.5% -18.1% Interest-bearing net debt / EBITDA* -0.7 0.0 -0.7 0.0 -0.5 Return on capital employed (ROCE), last 12 months, % 4.3% 23.7% 4.3% 23.7% 7.1%

*Last 12 months’ EBITDA

Hiab’s President and CEO Scott Phillips: First quarter as standalone Hiab, strong performance in the first half of the year

The second quarter of 2025, the first one as standalone Hiab, demonstrated our resilience with orders received holding steady for the eleventh consecutive quarter. Despite a decline in sales, we successfully maintained our excellent profitability, resulting in a strong performance in the first half of 2025, a testament to our effective commercial and supply chain actions. Supported by the good profitability and net working capital management, our financial position remained solid ahead of the expected closing of the sale of MacGregor at the end of July. Looking ahead, we have specified our full-year outlook on the back of our strong performance and increased visibility for the second half of the year. However, we still see continued elevated market uncertainty resulting from increased trade tensions for the second half of the year. Our performance is also on track to achieve our long-term financial targets.

Orders received remained stable for the eleventh quarter in a row, growth in the Americas explained by timing of key account orders

Our orders received amounted to EUR 377 (Q2/24: 348) million in the second quarter, a stable level for the eleventh quarter in a row. Delayed decision making by our customers continued in the Americas but orders received improved by EUR 21 million from last year, explained by the timing of large key account orders. Orders from EMEA and APAC also grew from the previous year’s level. Reports indicate global growth prospects facing headwinds, primarily due to increased trade tensions and heightened global policy uncertainty. However, replacement demand has been robust and our defence logistics business continues to show strong positive momentum.

Internal actions continued to drive improved margins despite a decline in sales

Our sales were 7 percent below the comparison period’s level as a result of a lower order book and amounted to EUR 402 (433) million. Despite the decline in sales, our comparable operating profit margin reached 15.0 (14.5) percent of sales. Similar to the first quarter of 2025, the improved profitability was driven by continued strong execution of our commercial and supply chain action plans, aimed towards improving our gross profit margin. In absolute terms, the comparable operating profit decreased to EUR 60 (63) million. The Equipment segment’s comparable operating profit margin decreased by 130 basis points to 13.9 (15.2) percent while the Services segment improved by 330 basis points to a record-high 25.0 (21.7) percent.

Net cash position expected to be further strengthened as we expect the closing of the sale of MacGregor to occur in the end of July

Supported by good profitability and net working capital management, our cash flow from operations excluding finance items and taxes amounted to EUR 56 million in the second quarter including both continuing and discontinued operations. We continue to operate with a net cash position, which for continuing operations amounted to EUR 78 million at the end of the quarter. Our strong cash flow and balance sheet provide the foundation for targeted growth investments. The balance sheet is expected to be further strengthened, as we expect the closing of the sale of MacGregor to occur on 31 July 2025, as we have now received all necessary regulatory approvals. The expected cash impact of the transaction is estimated at approximately EUR 225 million.

Outlook for 2025 specified, journey towards 2028 targets progressing well

We are happy to be able to specify our outlook for 2025 with increased visibility for the second half of the year. We estimate continuing operations’ comparable operating profit margin in 2025 to be above 13.5 (2024: 13.2) percent, setting the floor level for our 2025 profitability. Following the strong performance in the first half of 2025 we continue to be confident in our ability to reach our 2028 financial targets. The last twelve months’ comparable operating profit margin increased compared to previous year's level and was 13.6 (12.6) percent, showing significant progress towards the target of 16 percent.

Reporting segments’ key figures

Orders received

MEUR Q2/25 Q2/24 Change Q1–Q2/25 Q1–Q2/24 Change 2024 Equipment 256 237 8% 514 512 0% 1,059 Services 121 111 9% 241 222 8% 450 Total 377 348 8% 755 734 3% 1,509

Order book

MEUR 30 Jun 2025 31 Dec 2024 Change Equipment 496 590 -16% Services 61 58 5% Total 556 648 -14%

Sales

MEUR Q2/25 Q2/24 Change Q1–Q2/25 Q1–Q2/24 Change 2024 Equipment 284 317 -11% 578 615 -6% 1,185 Services 118 115 3% 236 233 1% 462 Total 402 433 -7% 814 847 -4% 1,647

Operating profit

MEUR Q2/25 Q2/24 Change Q1–Q2/25 Q1–Q2/24 Change 2024 Equipment 39.4 48.1 -18% 85.6 91.5 -7% 155.4 Services 29.6 25.0 18% 57.5 51.9 11% 99.5 Group administration -8.8 -10.3 14% -17.1 -19.3 12% -37.7 Total 60.2 62.8 -4% 125.9 124.1 1% 217.1

Comparable operating profit

MEUR Q2/25 Q2/24 Change Q1–Q2/25 Q1–Q2/24 Change 2024 Equipment 39.4 48.1 -18% 85.6 91.5 -7% 155.4 Services 29.6 25.0 18% 57.5 51.9 11% 99.5 Group administration -8.8 -10.3 14% -17.1 -19.3 12% -37.7 Total 60.2 62.8 -4% 125.9 124.1 1% 217.1

Comparable operating profit, %

MEUR Q2/25 Q2/24 Q1–Q2/25 Q1–Q2/24 2024 Equipment 13.9% 15.2% 14.8% 14.9% 13.1% Services 25.0% 21.7% 24.3% 22.3% 21.5% Total 15.0% 14.5% 15.5% 14.7% 13.2%

Telephone conference for analysts, investors and media

A live international telephone conference for analysts, investors and media will be arranged on the publishing day at 10:00 a.m. EEST. The event will be held in English. The report will be presented by President and CEO Scott Phillips and CFO Mikko Puolakka. The presentation material will be available at www.hiabgroup.com by the latest 9:30 a.m. EEST.

To ask questions during the conference, please register via the following link:

https://palvelu.flik.fi/teleconference/?id=50052228. After the registration, the conference phone numbers and a conference ID to access the conference will be provided.

The event can also be viewed as a live webcast at https://hiab.events.inderes.com/q2-2025 . A recording of the event will be published on Hiab’s website later during the day.

Please note that by dialling into the conference call, the participant agrees that personal information such as name and company name will be collected.

For further information, please contact:

Mikko Puolakka, CFO, tel. +358 20 777 4000

Aki Vesikallio, Vice President, Investor Relations, tel. +358 40 729 1670

Hiab (Nasdaq Helsinki: HIAB) is a leading provider of smart and sustainable on road load-handling solutions, committed to delivering the best customer experience every day with the most engaged people and partners. Globally, Hiab is represented on every continent through its extensive network of 3,000 own and partner sales and service locations, enabling delivery to over 100 countries. The company's continuing operations sales in 2024 totalled approximately EUR 1.6 billion and it employs over 4,000 people. www.hiabgroup.com

1 Hiab’s eco portfolio criteria has been revised. The comparison periods have not been restated.

2 Includes discontinued operations.

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