10.02.2026

Weaker year for Alimak

Swedish international hoist, mastclimber and façade access group Alimak has reported lower full year and quarterly revenues, with the Construction division being one of the slowest.

Full year
Revenues for the 12 months to the end of December were SK6.87 billion ($770 million), down 3.2 percent on the same period of 2024. Pre-tax profitwas amazingly exactly the same as last year at SK810 million ($90.7 million), thanks to lower operating expenses and interest cost.
The individual divisions were as follows:

Construction: revenues were 5.7% lower at Sk1.53 billion ($171.3 million) with an operating profit of Sk215 million ($26.1 million), down 6% on last year. Order intake was 15.8% lower at Sk1.48 billion ($166.8 million)
Façade Access: revenues declined 3.4% to SK1.92 billion ($215.1 million) with an operating profit of Sk233 million ($26.1 million)- the same as last year. Order intake was 6.8% lower at Sk1.84 billion ($205.8 Millon)
Height Safety & Productivity Solutions: posted revenues of SK1.29 Billion ($144.5 million) down 5%, while operating profit dropped 17.7% to SK229 million ($25.6 million). Order intake increased 1.7% to Sk1.36 billion ($152.3 million)
Industrial: revenues were Sk1.54 billion ($173 million), up 0.6% with an operating profit 25.5 % higher at SK393 million ($44 million). Order intake increased 10.3% to Sk1.7 billion ($191.2 million)
Wind: The Wind division posted revenues of Sk641 million ($71.8 million), a fall or 7.5%, while operating profit fell 6.6% to Sk124 million ($13.9 million). Order intake increased 10.7% to Sk741 million ($83 million)

Fourth quarter
Total revenues for the third quarter were Sk1.69 billion ($189.5 million), down 3.2% on 2024, while Pre-tax profits plummeted 44% to Sk138 million ($15.5 million). Order intake for the quarter were 1.7% higher at Sk7.08 billion ($793 million)

The individual divisions were as follows:
Construction: revenues were 5.2% lower at Sk380 million ($ 42.6 million) with an operating profit of Sk36 million ($4 million), down 19.2% on last year. Order intake was 35.8% lower at Sk389 million ($43.6 million)
Façade Access: revenues declined 15% to SK447 million ($50.1 million) with an operating profit 18.1% lower at Sk68 million ($7.6 million). Order intake was 6.4% higher at Sk511 million ($57.2 million)
Height Safety & Productivity Solutions: posted revenues of SK312 million ($34.9 million) down 1.6%, while operating profit dropped 15.8% to SK47 million ($5.3 million). Order intake increased 6.4% to Sk358 million ($40.1 million)
Industrial: revenues were Sk415 million ($46.5 million), down 1.5% with an operating profit 2.3 % lower at Sk106 million ($11.9 million). Order intake increased 0.6% to Sk439 million ($49.2 million)
Wind: The Wind division posted revenues of Sk150 million ($16.8 million), a fall of 9.5%, while operating profit declined 2.8% to Sk28 million ($3.1 million). Order intake jumped 58.5% to Sk209 million ($23.4 million)

Chief executive Ole Kristian Jødahl said: “2025 was a demanding year, with several external headwinds affecting performance. Despite these challenges, I am satisfied that we delivered organic order intake growth of 8% and adjusted EBITA margin of 17.4% for the year, demonstrating the resilience of our business.”

“A significant negative currency effect weighed on order intake, revenue and results. The US tariffs impacted demand, and the global construction market remained subdued. Consequently, the year became one of consolidation, as we protected profitability, strengthened our market leading positions, and continued investing for accelerated profitable growth.”
Cash flow from operations was at a good level, demonstrating our operational discipline and effective working capital management.

“The Construction division delivered a weak quarter. Investment in new machinery remains at a very low level for our customers in this challenging environment. In the quarter, the aftermarket was also affected as a significant share of the equipment fleet owned by our customers remained underutilised. Although the market remains very weak, we are continuing to invest into new segments, industries and products where we can find growth.”

“Karin Bååthe has been appointed EVP of the Construction division and will assume her role in April. Her broad industrial background and strong leadership experience will be important to strengthen performance and drive profitable growth.”

Facade Access reported strong order intake and continues to develop well, with ongoing operational improvements. The quarter included costs related to the final phasing out of one significant legacy project. All loss-making legacy projects are now behind us.”

“The Height Safety transformation programme is continuing at full speed to secure growth going forward. Order intake developed well, while profitability was low due to low revenue, some one‑off costs and increased investments in product development, sales and marketing.”

“Industrial delivered a strong performance overall, while order intake growth was slightly lower than expected due to timing effects. The commercial dynamics continue to be positive across segments and most regions.”

Wind reported strong order intake in the quarter. The US business showed a clear recovery, Europe continued to advance, and APAC operated at a solid level with ongoing market share gains. Revenue and earnings were somewhat lower, reflecting softer order intake in previous quarters, but with improving momentum across key markets, the division is well positioned for continued success.”

Looking ahead
“We remain very positive regarding the market opportunities ahead. Geopolitical tensions will drive investments within infrastructure, defence, general industries and energy in the coming years, while we still expect a subdued construction market for at least the first half of this year. As we move forward, we will continue to execute with discipline on the New Heights agenda, which has served us well, focusing on profitable growth, operational excellence and long‑term value creation.”

Vertikal Comment

Alimak has done well until now, managing the integration of several large and quite disparate acquisitions without seeming to lose focus on what was its core mast climber and hoist business. It has now hit some challenging times, and this is when management is truly tested.

The biggest challenge is juggling those investors that are focused on the short term gains and all too often a ‘good story’ with the sometimes longer term needs of the real business.
The company certainly has a good spread of businesses that provide some good protection from construction related market cycles, without moving too far away from its focus on access to height. It is in a decent position financially and in terms of market presence. 2026 could well be an important year in terms of how well it progresses from here on out.

From the chief executive's comments, we will probably not know until the year is over.