Outlook

The Management Board expects output to increase to around € 22 billion in the 2026 financial year and anticipates higher output across all operating segments. This forecast is based on the high level of the order backlog and expected contributions from completed acquisitions.

For 2026, an EBIT margin in a range between 5% and 5.5% is expected.

Net investments (cash flow from investing activities) in 2026 are forecast at no more than € 1,400 million, reflecting in particular the acquisition of construction machinery and planned acquisitions under Strategy 2030.