26.10.2026

Upbeat third quarter for Hiab

Loader crane and on road handling equipment manufacturer Hiab has published its third quarter results with ongoing declines in both sales and profit, although revenue from services continues to grow.

YTD
revenues for the nine months to the end of September were €1.27 billion up 9% on the same period last year.
This was made up as follows
New Equipment sales: €894 million +11%
Service revenue: €373 million +6%
Total: €1.27 billion +9%

Order intake was €1.28 billion up 16% on last year, made up as follows:
New Equipment: €904 million +20%
Services: €375 million +6%
Total orders: €1.28 billion +16%
Order book at the end of September was €873 million an increase of 70% on this time last year.

Pre-tax Profit for the nine months was 17% lower at €134.1 million.

Third quarter
Total revenues for the quarter were at €481 million up 39% on the same quarter last year
This was made up as follows
New Equipment sales: €347 million +51%
Service revenue: €134 million +15%
Total: €481million +39%

Order intake jumped 26% to €441 million.
Pre-tax profit for the period increased 17% to €45.4 million.

Chief executive Scott Phillips said:”The third quarter marked the beginning of a new chapter for Hiab. The acquisition of Environmental Vehicle Solutions was closed on 1 July, and its results have now been consolidated into Hiab. Rigorous execution of our strategy, supported by the perfectly aligned acquisition, enabled us to deliver another strong quarter while navigating a mixed market environment.”

“EVS contributed significantly to Hiab’s financial performance in the quarter, with further upside expected from commercial and procurement synergies”

"EVS has now been part of Hiab for slightly more than 100 days, and we are currently executing the integration of the business at full speed. The work has been progressing according to our plan, with a focus on protecting business execution as well as preserving and connecting cultures.”

“Gradual recovery continued in Europe, Africa and the Middle East. On the other hand, uncertainty of the global growth outlook is elevated and impacted by increased yields, interest rates and fuel prices, making the market environment mixed.”

“Order growth in the Americas was driven by acquisitions, while the negative organic development in the region was a reflection of key account order activity in the quarter in a continued subdued market environment. Services orders continued to grow, increasing by 16 percent, driven by the consolidation of EVS and recurring services.”

“We keep our outlook unchanged and aim for the highest comparable operating profit margin in Hiab’s history.”

Vertikal Comment

An interesting set of numbers from Hiab: the first nine months look quite positive in terms of sales and order intake, but challenging when it comes to profitability. But then the third quarter surprises, both in terms of sales and profit, most due to the acquisition of Labrie Environmental – which pushed sales in the Americas from 48% to 56% of the total.

All in all it looks as though Hiab kicked off an upward trend in sales and profitability.