Q1 2026 Hiab Oyj Earnings Call Transcript
Key Points
- Hiab Corp (CYJBY) reported a sequential increase in its comparable operating profit margin to 13.5%, indicating improved profitability.
- The company successfully implemented a new operating model in April, which is expected to enhance end-to-end accountability and reduce organizational complexity.
- Hiab Corp (CYJBY) achieved a 7% increase in organic order intake in constant currencies, with all regions except Asia Pacific showing growth.
- The company has a strong balance sheet with a net cash position of EUR 219 million, providing financial flexibility for future growth opportunities.
- Hiab Corp (CYJBY) is on track to achieve its EUR 20 million cost reduction target for 2026, which should enhance value creation resiliency.
- Sales were impacted by a 7% year-over-year decline due to a lower order book at the start of the period, particularly affecting the US market.
- The US market remains uncertain with ongoing trade tensions and geopolitical issues, leading to slower customer decision-making.
- The company's comparable operating profit declined by 22% compared to the previous year, primarily due to lower sales in the US.
- Currency fluctuations, particularly a weaker US dollar, negatively impacted the company's profitability in the first quarter.
- The Asia Pacific region showed flat growth, indicating challenges in expanding market presence in that area.
Welcome to Hiab's First Quarter 2026 Results Call. My name is Aki Vesikallio. I'm from the Investor Relations team. Today's results will be presented by CEO, Scott Phillips; and CFO, Mikko Puolakka. 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 Phillips, let's take a look at the highlights of the quarter. Book-to-bill was positive in all geographical areas. Our sales were still impacted by low order intake in the US during the previous 3 quarters. However, our comparable operating profit margin increased sequentially to 13.5%, and we continued to deliver strong cash flow.
The new operating model announced in January was successfully implemented in the beginning of April. We also specified our outlook for full year comparable operating profit margin from above 13 above 13.5%. Let's then view today's agenda.
First, Scott will present the group level topics. Mike will go through reporting segments, financials in more
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