Kalmar Posts Record Order Intake, Boosts Profitability Amid Geopolitical Uncertainty
Event summary
- Kalmar reported record order intake of EUR 511 million in Q4 2025, driven by large equipment orders.
- Sales grew 11% year-over-year to EUR 487 million in Q4 2025, with comparable operating profit margin improving to 12.4%.
- Eco portfolio sales increased 14% in Q4 2025, representing 43% of total sales.
- Operating cash flow surged 76% to EUR 112.8 million, aided by inventory reductions.
- Kalmar's Board proposed a dividend increase to EUR 1.09 for class A shares and EUR 1.10 for class B shares.
The big picture
Kalmar's strong 2025 performance highlights its resilience in a turbulent market, with strategic investments in electrification and automation positioning it for long-term growth. The company's ability to adapt to geopolitical uncertainty while maintaining profitability underscores its operational excellence and financial flexibility. With a growing global installed base of 70,000 machines, Kalmar is well-positioned to capitalize on industry trends towards decarbonization and intelligent operations.
What we're watching
- Profitability Momentum
- Whether Kalmar can sustain its improved operating profit margin above 12.5% in 2026 amid ongoing geopolitical challenges.
- Eco Portfolio Growth
- The pace at which eco portfolio sales will expand, given increasing demand for low and zero-carbon products.
- Services Expansion
- How Kalmar's shift towards a service-driven model will impact long-term revenue stability and customer lifecycle value.
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