Order Intake Growth and Regional Book-to-Bill
Organic order intake increased 7% in constant currencies; reported order intake EUR 402 million (EUR 419 million in constant currencies), an 11% positive variance. All regions delivered positive book-to-bill with Americas up 15% (EUR 145m -> EUR 166m), EMEA up 2% (EUR 203m -> EUR 207m) and APAC broadly flat (EUR 29m). ING contributed EUR 15 million in the quarter.
Sequential Margin Improvement and Upgraded Outlook
Comparable operating profit margin improved sequentially to 13.5% (down from 16% year‑over‑year) and the company specified full‑year guidance to above 13.5% comparable operating profit margin (up from previously 'above 13%').
Strong Cash Generation and Balance Sheet Strength
Operating cash generation was EUR 75 million in Q1 with a cash conversion of 186%. Net cash position EUR 219 million at end‑March and gearing at -23%, providing capacity to raise > EUR 700 million of debt if needed.
Services Growth and High Profitability
Reported service sales EUR 117 million (would be ~EUR 123 million in constant currencies, implying +5% cc growth). Services comparable operating profit stable at EUR 28 million and margin 23.6%. Recurring services share remains high (~75–76% of service revenue).
Equipment Orders Strength (Ex-FX)
Equipment orders were EUR 284 million, +10% year‑on‑year (approximately +14% in constant currencies); lifting equipment grew across all geographies.
ECO Portfolio Momentum
ECO portfolio sales increased 23% year‑on‑year to EUR 176 million and represented 46% of total sales, supporting sustainability strategy.
Implementation of New Operating Model & Cost Program
New operating model announced in January was implemented at the beginning of April. The EUR 20 million cost‑savings program is on track, with effects expected mainly in H2 2026.
Strategic Innovation and Partnerships
Validated science‑based targets toward net zero by 2050 and launched a co‑created lightweight DEL lift gate with partner MYCSA and customers in Spain, illustrating product innovation and customer collaboration.
US Distribution Expansion
Activated 16 new dealers over the past two years, achieving coverage across the 48 contiguous U.S. states and progressing toward a target of roughly 20–22 distributors to improve go‑to‑market reach.
Inventory and Working Capital Improvement
Inventories decreased slightly in the quarter and main cash flow improvements came from reductions in net working capital (accounts receivable decline and VAT receivables collection).