The figures presented in this report are unaudited. Figures in brackets, unless otherwise stated, refer to the same period a year earlier.

FOURTH QUARTER HIGHLIGHTS

– Order intake EUR 1,081.7 million (1,166.5), -7.3 percent (-4.3 percent on a comparable currency basis), order intake decreased in all Business Areas
– Industrial Service annual agreement base value EUR 339.3 million (342.5), -0.9 percent (+4.4 percent on a comparable currency basis)
– Order book EUR 2,988.4 million (2,888.4) at the end of December, +3.5 percent (+7.0 percent on a comparable currency basis)
– Sales EUR 1,163.0 million (1,212.5), -4.1 percent (-1.3 percent on a comparable currency basis), sales decreased in all Business Areas.
– Comparable EBITA margin 14.1 percent (13.2) and comparable EBITA EUR 164.0 million (159.5); the comparable EBITA margin increased to 21.9 percent (20.6) in Industrial Service, increased to 11.7 percent (9.7) in Industrial Equipment and decreased to 9.2 percent (9.7) in Port Solutions
– Operating profit EUR 151.9 million (146.4), 13.1 percent of sales (12.1)
– Earnings per share (diluted) EUR 1.52 (1.36)
– Free cash flow EUR 138.3 million (169.9)

2025 HIGHLIGHTS

– Order intake EUR 4,389.3 million (3,999.6), +9.7 percent (+11.6 percent on a comparable currency basis)
– Sales EUR 4,187.8 million (4,227.0), -0.9 percent (+0.7 percent on a comparable currency basis)
– Comparable EBITA margin 14.0 percent (13.1) and comparable EBITA EUR 588.1 million (551.6); the comparable EBITA margin increased in all Business Areas
– Operating profit EUR 542.4 million (511.4), 13.0 percent of sales (12.1) items affecting comparability totaled EUR 11.0 million (9.3), mainly comprising of restructuring costs
– Earnings per share (diluted) EUR 5.03 (4.63)
– Free cash flow EUR 529.6 million (427.2)
– Net debt EUR -163.5 million (183.5) and gearing -7.8 percent (9.9)
– The Board of Directors proposes a dividend of EUR 2.25 per share for year 2025

DEMAND OUTLOOK

Within the industrial customers segment, we expect our demand environment to remain on a healthy level. For our port customers, container throughput continues to be on a high level, and the long-term prospects for container handling remain good. However, uncertainty related to geopolitics and trade policy tensions remains high.

FINANCIAL GUIDANCE

Konecranes expects net sales to remain approximately on the same level or to increase in 2026 compared to 2025, and comparable EBITA margin to remain approximately on the same level in 2026 compared to 2025.

CEO Marko Tulokas:

The year 2025 reflected strong momentum for Konecranes. We successfully executed our strategy throughout the year across our businesses and solid performance in the last quarter sealed excellent full-year results. Amidst geopolitical uncertainty customer activity remained good, particularly for Port Solutions and Industrial Equipment, and resulted in a high order intake. Profitability further strengthened and our comparable EBITA margin reached its highest annual level ever, 14.0%. This is now the third consecutive year of profitability improvement in all our Business Areas. Needless to say I am very proud of the Konecranes’ team achievement. We have a leading market position globally and we closed the year with a robust order book and a strong balance sheet.

In the fourth quarter of 2025, our market environment remained stable, and performance continued to be solid across the businesses. Our order intake was on a solid level at EUR 1.08 billion, despite decreasing by 4.3% in comparable currencies versus the very strong comparison period. Sales reached EUR 1.16 billion, decreasing by 1.3% in comparable currencies. However, comparable EBITA margin increased to 14.1%, and was driven by good execution, pricing and efficient cost management.

In Business Area Industrial Service, order intake increased by 2.2% in the fourth quarter in comparable currencies and was EUR 381 million. Sales increased by 3.5% in comparable currencies to EUR 413 million. Comparable EBITA margin reached 21.9% mainly due to pricing, good execution and efficient cost management. The agreement base continued to grow and rose by 4.4% in comparable currencies. We also reported sequential growth of the agreement base, something fundamental to our strategy of expanding our high-margin service business.

In Business Area Industrial Equipment, external order intake remained relatively stable compared to a year ago and was EUR 314 million. External sales increased by 2.8% in comparable currencies and amounted to EUR 337 million. Comparable EBITA margin reached a level of 11.7%, mainly due to solid execution, pricing and favorable product mix.

In Business Area Port Solutions, performance remained solid in the fourth quarter. Quarterly fluctuation is a normal feature of this business and our order intake decreased by 11.4% in comparable currencies versus a strong year ago comparison, amounting to EUR 406 million. Sales decreased by 7.1% in comparable currencies to EUR 439 million, mainly due to the timing of the order book. Comparable EBITA margin declined to 9.2%, with lower volume and a less advantageous mix, partly offset by continued good project execution. At the end of the quarter, Port Solutions’ order book amounted to EUR 1.67 billion.

In 2025, our order intake increased by 11.6% in comparable currencies and amounted to EUR 4.39 billion. Due to good activity in many customer sectors for both industrial and ports businesses, our order book was nearly EUR 3 billion at the end of the year. With our industrial customers, we saw positive development especially in the power, aviation and aerospace, and defense sectors. Sales reached EUR 4.19 billion, increasing by 0.7% in comparable currencies. I am pleased that in all three Business Areas both order intake and sales increased in comparable currencies. It shows that we are on the right track and that our businesses have been able to execute consistently despite the uncertain and volatile operating environment. Our comparable EBITA margin continued to improve, and record cash flow strengthened our balance sheet.

Earnings per share for 2025 was EUR 5.05. Konecranes’ Board of Directors is proposing a dividend of EUR 2.25 per share to be paid for year 2025, aligned with our dividend policy.

Looking into 2026 and beyond, we have an ambition to create long-term value through growth by further leveraging our strengths – broad customer access, technology leadership and lifecycle model. Our strong financial position, wide offering and global market leadership provide attractive opportunities, which we are actively evaluating.

We have not seen any major changes in our market environment thanks to our diversified customer base, but the uncertainty related to geopolitics and trade policy tensions remains high. Our sales funnels have remained on a good level in all Business Areas, but we continue to observe somewhat longer decision-making times within our customers.
Within the industrial customers segment, we expect our demand environment to remain on a healthy level. For our port customers, container throughput continues to be on a high level, and the long-term prospects for container handling remain good. Business Area Port Solutions’ sales pipeline consists of projects of various sizes.
When we reflect on the outlook, we expect our net sales to remain approximately on the same level or to increase in 2026 compared to 2025, and our comparable EBITA margin to remain approximately on the same level in 2026 compared to 2025.

The year 2025 demonstrated Konecranes’ strength. The continuous and steady development of our proven global business model has provided resilience and stability in the current operating environment. I am very pleased where Konecranes is today. After delivering such strong results we are well positioned to drive for further success towards our financial targets. I want to thank our customers and stakeholders for the past year and all our teams for their commitment and continued solid execution – momentum that I am confident we will continue in 2026.

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Source: Konecranes