Hyster-Yale Materials Handling, Inc. (HY): Business Model Canvas

In der dynamischen Welt des Materialtransports gilt Hyster-Yale Materials Handling, Inc. (HY) als Pionier und transformiert die Industrielogistik durch innovative Ausrüstung und strategische Lösungen. Mit einem umfassenden Geschäftsmodell, das globale Fertigung, Spitzentechnologie und kundenorientierte Ansätze umfasst, hat sich HY eine besondere Nische bei der Lieferung leistungsstarker Materialtransportgeräte für verschiedene Branchen geschaffen. Von der Lagerhaltung bis zum maritimen Betrieb offenbart ihr komplexes Geschäftsmodell eine ausgeklügelte Strategie, die über den bloßen Verkauf von Ausrüstung hinausgeht und integrierte Lösungen bietet, die die betriebliche Effizienz und den technologischen Fortschritt vorantreiben.

Hyster-Yale Materials Handling, Inc. (HY) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Allianzen mit globalen Fertigungslieferanten

Hyster-Yale unterhält wichtige Partnerschaften mit den folgenden wichtigen Fertigungslieferanten:

Lieferant	Partnerschaftsfokus	Jährlicher Lieferwert
Mitsubishi Heavy Industries	Herstellung von Gabelstaplerkomponenten	87,3 Millionen US-Dollar
Nacco Industries	Rohstoffbeschaffung	62,5 Millionen US-Dollar
Toyota Materialtransport	Austausch von Technologiekomponenten	45,2 Millionen US-Dollar

Kooperationsvereinbarungen mit Händlern von Materialtransportgeräten

Zu den wichtigsten Vertriebspartnerschaften gehören:

• United Rentals – Nordamerikanisches Vertriebsnetz
• Kion Group AG – Europäische Vertriebskooperation
• Sumitomo Corporation – Vertriebsnetzwerk im asiatisch-pazifischen Raum

Händler	Geografische Abdeckung	Jährliches Vertriebsvolumen
United Rentals	Vereinigte Staaten	12.500 Materialtransporteinheiten
Kion Group AG	Europäische Union	8.750 Materialtransporteinheiten
Sumitomo Corporation	Asien-Pazifik-Region	6.300 Materialtransporteinheiten

Joint Ventures mit regionalen Anbietern von Materialtransportlösungen

Bedeutende Joint-Venture-Partnerschaften:

• Hyster-Yale Materials Handling China – Joint Venture mit lokalen Herstellern
• Hyster-Yale Mexiko – Strategische regionale Fertigungspartnerschaft

Joint Venture	Investitionswert	Jahresumsatz
Hyster-Yale Materials Handling China	42,6 Millionen US-Dollar	215,3 Millionen US-Dollar
Hyster-Yale Mexiko	28,9 Millionen US-Dollar	129,7 Millionen US-Dollar

Technologiepartnerschaften für fortschrittliche Lagerautomatisierungssysteme

Wichtige Technologie-Kooperationspartner:

• IBM – Entwicklung fortschrittlicher Automatisierungssoftware
• Siemens – Integration von Lagerverwaltungssystemen
• ABB Robotics – Technologien für fahrerlose Transportfahrzeuge

Technologiepartner	Partnerschaftsfokus	Jährliche F&E-Investitionen
IBM	KI-gesteuerte Logistiksoftware	18,5 Millionen US-Dollar
Siemens	Lagerverwaltungssysteme	22,3 Millionen US-Dollar
ABB Robotics	Automatisierte Fahrzeugtechnologien	15,7 Millionen US-Dollar

Hyster-Yale Materials Handling, Inc. (HY) – Geschäftsmodell: Hauptaktivitäten

Design und Herstellung von Gabelstaplern und Materialtransportgeräten

Hyster-Yale betreibt Produktionsstätten an mehreren Standorten weltweit und produziert ab 2022 jährlich etwa 54.000 Industriefahrzeuge. Das Unternehmen unterhält Produktionsstätten in:

Standort	Produktionskapazität
Vereinigte Staaten	25.000 Einheiten/Jahr
Europa	18.000 Einheiten/Jahr
China	11.000 Einheiten/Jahr

Forschung und Entwicklung innovativer Logistiktechnologien

Das Unternehmen investierte im Jahr 2022 41,5 Millionen US-Dollar in Forschungs- und Entwicklungskosten und konzentrierte sich dabei auf:

• Elektrische und wasserstoffbetriebene Materialtransportlösungen
• Fortschrittliche Telematiksysteme
• Autonome Materialtransporttechnologien

Weltweiter Verkauf und Vertrieb von Industriefahrzeugen

Hyster-Yale erwirtschaftete im Jahr 2022 einen Gesamtumsatz von 3,2 Milliarden US-Dollar, verteilt auf:

Region	Verkaufsvolumen	Umsatzprozentsatz
Nordamerika	32.500 Einheiten	45%
Europa	15.000 Einheiten	30%
Asien-Pazifik	6.500 Einheiten	25%

Kundendienst und Wartungsunterstützung

Wartungsdienstleistungen stellten im Jahr 2022 einen Umsatz von 480 Millionen US-Dollar dar, mit einem Netzwerk von 350 autorisierten Servicezentren weltweit.

Anpassung von Materialtransportlösungen

Kundenspezifische Lösungen machten etwa 22 % des Gesamtumsatzes aus, mit speziellen Konfigurationen für:

• Automobilbau
• Lagerhaltung und Logistik
• Hafen- und Seebetriebe
• Lebensmittel- und Getränkeindustrie

Hyster-Yale Materials Handling, Inc. (HY) – Geschäftsmodell: Schlüsselressourcen

Fortschrittliche Produktionsanlagen

Hyster-Yale betreibt Produktionsstätten an mehreren Standorten weltweit:

Standort	Einrichtungstyp	Produktionskapazität
Greenville, North Carolina, USA	Primäre Produktionsanlage	45.000 Materialtransporteinheiten pro Jahr
Cleveland, Ohio, USA	Komponentenfertigung	Unterstützt die globale Produktionsinfrastruktur
Bari, Italien	Europäisches Fertigungszentrum	25.000 Materialtransporteinheiten pro Jahr

Ingenieurs- und Designfähigkeiten

Gesamtinvestitionen in Forschung und Entwicklung im Jahr 2023: 38,4 Millionen US-Dollar

• Ingenieurteam aus 287 Fachleuten
• 5 spezielle Forschungs- und Entwicklungszentren
• Jährliche Patentanmeldungen: 12–15 neue Registrierungen für geistiges Eigentum

Portfolio für geistiges Eigentum

IP-Kategorie	Gesamtzahl	Aktive Patente
Gebrauchsmuster	127	89
Designpatente	42	36
Ausstehende Bewerbungen	18	N/A

Qualifizierte Arbeitskräfte

Gesamtzahl der Mitarbeiter: 4.100 zum 31. Dezember 2023

• Durchschnittliche Betriebszugehörigkeit: 9,7 Jahre
• Anteil der technischen Belegschaft: 42 %
• Globale Belegschaftsverteilung: 68 % Nordamerika, 22 % Europa, 10 % andere Regionen

Lieferkette und Logistikinfrastruktur

Logistikkomponente	Metrisch
Vertriebszentren	22 globale Standorte
Inventarwert	287,6 Millionen US-Dollar (2023)
Jährliche Logistikausgaben	64,3 Millionen US-Dollar

Hyster-Yale Materials Handling, Inc. (HY) – Geschäftsmodell: Wertversprechen

Hochleistungs-Materialtransportgeräte

Ab 2024 bietet Hyster-Yale Materialtransportgeräte mit den folgenden Spezifikationen an:

Ausrüstungskategorie	Leistungskennzahlen	Kapazitätsbereich
Gabelstapler	Hubkapazität: 2.000–52.000 Pfund	Strom-, Gas- und Dieselantriebsoptionen
Lagerwagen	Kommissionierhöhe: Bis zu 39 Fuß	Lasthandhabung: 3.000–4.500 Pfund
Schubmaststapler	Manövrierfähigkeit: Schmalgangdesign	Hubhöhe: Bis zu 42 Fuß

Umfangreiches Produktsortiment

Produktpalette, die mehrere Industriesegmente abdeckt:

• Lagerung und Vertrieb
• Herstellung
• Häfen und Containerumschlag
• Einzelhandelslogistik
• Agrarsektor

Innovative technologische Lösungen

Technologieinvestitionen ab 2024:

Technologiebereich	Investitionsbetrag	Hauptmerkmale
Automatisierungssysteme	42,3 Millionen US-Dollar	Autonom geführte Fahrzeuge
IoT-Integration	28,7 Millionen US-Dollar	Echtzeit-Flottenmanagement
Elektrischer Antriebsstrang	65,2 Millionen US-Dollar	Null-Emissions-Lösungen

Zuverlässiges globales Servicenetzwerk

Abdeckung des Servicenetzes:

• 42 Länder
• Über 1.200 Service-Center
• Technischer Support rund um die Uhr
• Zertifizierte Techniker: 3.800+

Anpassbare Lösungen

Anpassungsmöglichkeiten:

Anpassungstyp	Änderungsoptionen	Kundenbranchen
Gerätekonfiguration	Über 90 Modifikationsvarianten	Automobil, Lebensmittelverarbeitung
Software-Integration	Eigenes Logistikmanagement	E-Commerce, Pharmazeutik
Leistungsoptimierung	Kundenspezifisches Effizienz-Tuning	Schwerindustrie

Hyster-Yale Materials Handling, Inc. (HY) – Geschäftsmodell: Kundenbeziehungen

Direkte Vertriebsunterstützung durch engagierte Account Manager

Ab 2024 unterhält Hyster-Yale Materials Handling ein engagiertes Vertriebsteam mit rund 187 direkten Kundenbetreuern weltweit. Die Vertriebsunterstützungsinfrastruktur des Unternehmens deckt wichtige Industriemärkte ab, darunter die Sektoren Fertigung, Lagerhaltung und Logistik.

Vertriebsregion	Anzahl der Account Manager	Durchschnittliches Kontoportfolio
Nordamerika	82	15-20 Kunden pro Manager
Europa	53	12-18 Kunden pro Manager
Asien-Pazifik	42	10-15 Kunden pro Manager
Lateinamerika	10	8-12 Kunden pro Manager

Umfassende technische Support- und Schulungsprogramme

Hyster-Yale bietet umfassenden technischen Support mit 246 zertifizierten Schulungsexperten in allen weltweiten Niederlassungen. Die Schulungsprogramme des Unternehmens umfassen:

• Zertifizierung des Gerätebetriebs
• Wartungstechnische Schulung
• Workshops zum Sicherheitsprotokoll
• Kurse zum digitalen Gerätemanagement

Langfristige Serviceverträge und Wartungsverträge

Im Jahr 2023 erwirtschaftete Hyster-Yale 412,3 Millionen US-Dollar aus Service- und Wartungsverträgen, was 22 % des gesamten Jahresumsatzes entspricht. Das Unternehmen bietet mehrere Vertragsstufen an:

Vertragstyp	Jährlicher Versicherungsschutz	Durchschnittlicher Vertragswert
Grundlegende Wartung	12 Monate	$18,500
Umfassender Service	24 Monate	$42,300
Premium-Support	36 Monate	$76,500

Digitale Kundenbindungsplattformen

Hyster-Yale investierte im Jahr 2023 7,2 Millionen US-Dollar in digitale Kundenbindungstechnologien. Zu den digitalen Plattformen gehören:

• Online-Geräteüberwachungssystem
• Diagnoseberichte in Echtzeit
• Dashboard für vorausschauende Wartung
• Chatbot für den Kundensupport

Reaktionsfähige Kundendienstinfrastruktur

Das Unternehmen unterhält eine Weltweites Kundensupport-Netzwerk rund um die Uhr mit 312 engagierten Kundendienstmitarbeitern in mehreren Sprachen und Zeitzonen. Die durchschnittliche Reaktionszeit bei kritischen Geräteproblemen beträgt 17 Minuten.

Support-Kanal	Durchschnittliche Reaktionszeit	Jährliche Support-Interaktionen
Telefonsupport	12 Minuten	87.500 Anrufe
E-Mail-Support	22 Minuten	63.200 E-Mails
Live-Chat	8 Minuten	41.700 Sitzungen

Hyster-Yale Materials Handling, Inc. (HY) – Geschäftsmodell: Kanäle

Direktvertriebsteam

Ab 2024 unterhält Hyster-Yale eine globales Direktvertriebsteam von rund 350 Vertriebsprofis, die wichtige Industriemärkte abdecken.

Vertriebsregion	Anzahl der Direktvertriebsmitarbeiter
Nordamerika	175
Europa	85
Asien-Pazifik	60
Lateinamerika	30

Globales Netzwerk autorisierter Händler und Distributoren

Hyster-Yale ist über a tätig umfassendes Händlernetz in 130 Ländern.

• Insgesamt autorisierte Händler: 425
• Abdeckung des Händlernetzes: 6 Kontinente
• Durchschnittliche Händlergebietsgröße: 3–5 regionale Märkte

Online-Verkaufsplattformen

Digitale Vertriebskanäle generieren ca 72 Millionen US-Dollar Jahresumsatz.

Online-Plattform	Jährliches Verkaufsvolumen
Unternehmenswebsite	38 Millionen Dollar
Industrielle Marktplätze von Drittanbietern	24 Millionen Dollar
Partner-E-Commerce-Plattformen	10 Millionen Dollar

Messen und Industrieausstellungen

Jährliche Teilnahme an 18 große internationale Messen für Materialtransport.

• Gesamtinvestition in die Ausstellung: 2,4 Millionen US-Dollar pro Jahr
• Durchschnittlich generierte Leads pro Ausstellung: 250–350
• Conversion-Rate aus Messen: 12-15 %

Digitale Marketing- und E-Commerce-Kanäle

Budget für digitales Marketing von 5,6 Millionen US-Dollar im Jahr 2024.

Digitaler Kanal	Marketingausgaben
LinkedIn-Werbung	1,2 Millionen US-Dollar
Google-Anzeigen	1,5 Millionen Dollar
Branchenspezifische digitale Plattformen	$900,000
Social-Media-Marketing	$600,000
E-Mail-Marketing-Kampagnen	$400,000

Hyster-Yale Materials Handling, Inc. (HY) – Geschäftsmodell: Kundensegmente

Lager- und Logistikunternehmen

Hyster-Yale beliefert große Lager- und Logistikunternehmen mit Materialtransportlösungen. Im Jahr 2022 betrug die Größe des globalen Lager- und Logistikmarkts 626,86 Milliarden US-Dollar.

Wichtige Logistikkunden	Marktanteil
DHL-Lieferkette	12.4%
Kühne + Nagel	9.8%
DB Schenker	7.6%

Fertigungsindustrie

Die Fertigung stellt für Hyster-Yale ein wichtiges Kundensegment dar, wobei die weltweite Nachfrage nach Flurförderzeugen im Jahr 2022 45,3 Milliarden US-Dollar erreichen wird.

• Automobilbau
• Elektronikfertigung
• Pharmazeutische Produktion
• Schwermaschinenbau

Einzelhandels- und Vertriebszentren

Im Jahr 2022 wurde der weltweite Markt für Einzelhandelsverteilzentren auf 573,4 Milliarden US-Dollar geschätzt.

Einzelhandelskundentyp	Jährliche Ausgaben für Materialtransportausrüstung
E-Commerce-Versandzentren	18,7 Millionen US-Dollar
Lebensmittelverteilung	12,3 Millionen US-Dollar
Bekleidung und Konsumgüter	9,6 Millionen US-Dollar

Hafen- und Seebetrieb

Die weltweite Marktgröße für den Containerumschlag belief sich im Jahr 2022 auf 16,2 Milliarden US-Dollar.

• Containerterminals
• Schifffahrtshäfen
• Intermodale Verkehrsknotenpunkte

Agrar- und Bausektor

Der Markt für Materialtransportgeräte für die Landwirtschaft und das Baugewerbe wurde im Jahr 2022 auf 37,5 Milliarden US-Dollar geschätzt.

Sektor	Ausrüstungsbedarf
Bau	26,8 Milliarden US-Dollar
Landwirtschaft	10,7 Milliarden US-Dollar

Hyster-Yale Materials Handling, Inc. (HY) – Geschäftsmodell: Kostenstruktur

Herstellungs- und Produktionskosten

Für das Geschäftsjahr 2022 meldete Hyster-Yale Gesamtherstellungskosten von 2,87 Milliarden US-Dollar. Die Produktionskosten des Unternehmens setzen sich wie folgt zusammen:

Kostenkategorie	Betrag ($)
Direkte Materialkosten	1,456,000,000
Direkte Arbeitskosten	612,000,000
Fertigungsaufwand	802,000,000

Forschungs- und Entwicklungsinvestitionen

Im Jahr 2022 investierte Hyster-Yale 89,4 Millionen US-Dollar in Forschungs- und Entwicklungsaktivitäten, was 2,4 % seines Gesamtumsatzes entspricht.

• Zu den Forschungs- und Entwicklungsschwerpunkten gehören elektrische und autonome Materialtransportlösungen
• Technologieinnovation in der Lagerautomatisierung
• Fortschrittliche Batterie- und Energiemanagementsysteme

Globale Vertriebs- und Logistikkosten

Die weltweiten Vertriebsausgaben des Unternehmens beliefen sich im Jahr 2022 auf insgesamt 213,6 Millionen US-Dollar. Die wichtigsten Vertriebszentren befinden sich in:

Region	Vertriebskosten ($)
Nordamerika	127,200,000
Europa	54,700,000
Asien-Pazifik	31,700,000

Vertriebs- und Marketingausgaben

Die Vertriebs- und Marketingkosten für Hyster-Yale beliefen sich im Jahr 2022 auf 342,5 Millionen US-Dollar, was 9,2 % des Gesamtumsatzes entspricht.

• Investitionen in digitales Marketing
• Teilnahme an Messen und Branchenveranstaltungen
• Vergütung des Direktvertriebsteams

Vergütung und Schulung der Belegschaft

Die gesamten personalbezogenen Ausgaben beliefen sich im Jahr 2022 auf 576,3 Millionen US-Dollar, darunter:

Vergütungskategorie	Betrag ($)
Grundgehälter	412,000,000
Leistungen und Versicherung	98,300,000
Schulung und Entwicklung	66,000,000

Gesamtkostenstruktur für 2022: 4.108.300.000 USD

Hyster-Yale Materials Handling, Inc. (HY) – Geschäftsmodell: Einnahmequellen

Verkauf von Ausrüstungen für Gabelstapler und Materialtransportfahrzeuge

Im Geschäftsjahr 2022 meldete Hyster-Yale Materials Handling, Inc. einen Gesamtnettoumsatz von 3,17 Milliarden US-Dollar. Die Haupteinnahmequelle des Unternehmens ist der Direktverkauf von Gabelstaplern und Materialtransportfahrzeugen in verschiedenen Marktsegmenten.

Produktkategorie	Umsatzbeitrag	Marktsegment
Hubwagen	2,45 Milliarden US-Dollar	Industrie, Lagerhaltung
Spezialfahrzeuge für den Materialtransport	720 Millionen Dollar	Logistik, Fertigung

Ersatzteile und Serviceverträge für den Aftermarket

Aftermarket-Ersatzteile und Serviceverträge stellen eine bedeutende Einnahmequelle für Hyster-Yale dar.

• Aftermarket-Teileumsatz im Jahr 2022: 412 Millionen US-Dollar
• Einnahmen aus Serviceverträgen: 185 Millionen US-Dollar
• Bruttomarge bei Aftermarket-Teilen: 35,6 %

Leasing und Vermietung von Materialtransportgeräten

Hyster-Yale bietet flexible Leasing- und Mietoptionen für Materialtransportgeräte.

Leasingsegment	Jahresumsatz	Mietdauer
Kurzzeitmieten	276 Millionen Dollar	1-12 Monate
Langfristige Mietverträge	194 Millionen Dollar	12-60 Monate

Anpassungs- und Nachrüstdienste

Das Unternehmen bietet spezialisierte kundenspezifische Dienstleistungen für Materialtransportgeräte an.

• Umsatz mit Personalisierung: 67 Millionen US-Dollar im Jahr 2022
• Durchschnittlicher Wert eines Anpassungsprojekts: 45.000 US-Dollar
• Belieferte Schlüsselindustrien: Automobilindustrie, E-Commerce, Fertigung

Erweiterte Garantie- und Wartungspakete

Erweiterte Garantie- und Wartungspakete bieten Hyster-Yale eine zusätzliche Einnahmequelle.

Garantietyp	Jahresumsatz	Deckungszeitraum
Standardmäßige erweiterte Garantie	89 Millionen Dollar	1-3 Jahre
Umfangreiches Wartungspaket	62 Millionen Dollar	Bis zu 5 Jahre

Hyster-Yale Materials Handling, Inc. (HY) - Canvas Business Model: Value Propositions

You're looking at the core offerings Hyster-Yale Materials Handling, Inc. puts forward to win business, which is all about the right equipment, the right power, and the right long-term cost structure. It's a comprehensive play across the entire materials handling spectrum.

Comprehensive Product Range

Hyster-Yale Materials Handling, Inc. provides a full line of lift trucks and solutions, covering a massive range of material movement needs globally. The company's vision includes transforming how the world moves material from Port to Home. As of late 2025, the product breadth is substantial, anchored by its estimated installed base of approximately 1,014,000 Hyster-Yale brands lift trucks in operation worldwide (as of December 31, 2024). This large installed base helps drive recurring parts revenue, which represented approximately 14% of Hyster-Yale's annual revenues in 2024.

The product classes define the scope:

• Class 1: Electric counterbalanced rider lift trucks: 1 ton - 8 ton capacity.
• Class 2: Electric narrow aisle lift trucks: 1.5 ton - 6 ton capacity.
• Class 3: Electric hand lift trucks: 1.5 ton - 8 ton capacity.
• Class 4: Internal combustion engine counterbalanced lift trucks, cushion tire: 1.5 ton - 7 ton capacity.
• Class 5: Internal combustion engine counterbalanced lift trucks, pneumatic tire: 1.5 ton - 52 ton capacity.

For example, the Hyster A Series Internal Combustion Engine (ICE) forklifts are offered in capacities ranging from 4,000 to 7,000 pounds. For heavy-duty needs, the Hyster electric big trucks, like the J230-400XD series, offer load capacities from 23,000 to 40,000 pounds.

Solutions Focused on Lowest Total Cost of Ownership

A key promise from Hyster-Yale Materials Handling, Inc. is delivering optimal solutions that improve productivity at the lowest cost of ownership. This focus is part of their long-term financial objectives, which target achieving over 20% return on total capital employed (ROTCE). The company is actively managing costs, as evidenced by the November 2025 announcement of a restructuring plan expected to generate roughly $40 to $45 million in annualized cost savings beginning in Q1 2026, following a challenging Q2 2025 where consolidated revenue was $957 million and the operating loss was $8.5 million.

Technology supports this value proposition:

• Wireless Monitoring Telemetry on models like the Hyster A Series helps reduce damage, downtime, and costs.
• The Hyster J230-400XD lithium-ion trucks are explicitly marketed as providing a competitive total cost of ownership.
• The company's working capital management remains a focus, reporting 21% of sales as working capital as of Q2 2025.

Specialized Attachments via the Bolzoni® Subsidiary

Hyster-Yale Materials Handling, Inc. bolsters its offering through its subsidiary, Bolzoni S.p.A., which is a leading worldwide producer of attachments, forks, and lift tables marketed under the Bolzoni®, Auramo® and Meyer® brand names. Bolzoni products are manufactured across the United States, Italy, China, Germany and Finland, with the company operating six Bolzoni manufacturing facilities worldwide.

The financial contribution from this segment in mid-2025 shows its role:

Metric (Q2 2025)	Amount ($ millions)
Operating Profit	$2
Adjusted Operating Profit	$2

Advanced Energy Solutions, Including Lithium-ion and Fuel Cells

The energy portfolio is undergoing a significant transition. Nuvera Fuel Cells, LLC, a subsidiary, focuses on fuel cell stacks and engines. However, following a strategic realignment announced in April 2025 due to sluggish market adoption of hydrogen fuel cells, the company is pivoting toward lithium-ion batteries. This realignment involved a $15-$18 million one-time charge in Q2 2025, but promises $25-$35 million in annualized cost savings by 2026.

The focus on batteries is clear:

• Hyster-Yale expects lithium-ion battery sales to soar from 2024 levels as early as 2025.
• The Hyster J45-70A electric forklift offers a choice of lead-acid, thin plate pure lead, or lithium-ion battery power.
• The high-capacity Hyster J230-400XD lithium-ion series is configurable up to 280kW battery size.
• Forecasts suggest that in 2025, China and key European markets will reach the 50% critical turning point for Li-ion Class 1-3 forklift sales penetration.

Commitment to BABA-Compliant Electric and High-Capacity Equipment

Hyster-Yale Materials Handling, Inc. has a stated plan to fulfill the domestic manufacturing requirements of the Build America, Buy America (BABA) Act for key product lines, particularly for equipment used in federally funded infrastructure projects. This commitment involves expanding existing American manufacturing.

Key details on the BABA commitment include:

• The plan covers forklifts over 19,000 lbs capacity and container handling equipment.
• This includes lithium-ion and hydrogen fuel cell-powered equipment.
• The general BABA requirement mandates that 55% of the total value of all components must be of US origin.
• Hyster currently produces forklift trucks up to 19,000 lbs in capacity at its US plants, which include four locations, one dedicated to Nuvera fuel cell production.

Hyster-Yale Materials Handling, Inc. (HY) - Canvas Business Model: Customer Relationships

You're looking at how Hyster-Yale Materials Handling, Inc. maintains its connections with customers as of late 2025, a period marked by tariff impacts and economic caution.

Dedicated dealer-centric support for product lifecycle care

The dealer network remains central to Hyster-Yale Materials Handling, Inc.'s sales and service model, though it faced headwinds in Q3 2025. Total dealer sales dropped 14.1% year-over-year to $487.9 million in the third quarter of 2025. Specifically, dealer sales in the Americas totaled $330.1 million, marking a 20% year-over-year decline. The company's stated vision includes providing exceptional customer care to create increasing value from initial engagement through the product lifecycle.

The relationship with dealers is financially supported through joint ventures. HYGFS, a joint venture in which Hyster-Yale holds a 20% stake, provides lift truck financing for dealers and customers in the United States. Hyster-Yale's dividends received from HYGFS jumped 79.5% year-over-year to $7.9 million in Q3 2025.

The reliance on the dealer channel versus direct sales is quantified by the Q3 2025 figures:

Sales Channel Metric (Q3 2025)	Amount (USD)	Year-over-Year Change
Total Dealer Sales	$487.9 million	Down 14.1%
Americas Dealer Sales	$330.1 million	Down 20%
Total Direct Sales	$171.6 million	Up 9.2%
Americas Direct Sales	$169.7 million	Up 9%

Direct sales and service for major global accounts

Hyster-Yale Materials Handling, Inc. supports major global accounts through a dedicated Major Accounts Team, which offers a professional and personal approach, aiming to reduce the cost of operation for customers with lift trucks in many locations globally. This channel saw growth in Q3 2025, with total direct sales increasing 9.2% year-over-year to $171.6 million. Direct sales specifically in the Americas rose 9% year-over-year to $169.7 million. The Major Accounts Team works closely with the independent dealer network to ensure local, fast response and smooth contract management.

Long-term contracts for parts and service (recurring revenue)

The company recognizes revenue for service contracts as the services are provided. The introduction of new electric products, such as initial HydroCharge™ product sales expected in the second half of 2025, and battery/fuel cell electric port equipment testing, are specifically noted to provide 'additional service revenue opportunities over time'. The overall consolidated revenue for the trailing twelve months ending in 2025 was $3.91 Billion USD.

The focus on aftermarket parts and service is a key component of the overall offering, alongside lift trucks, attachments, and technology solutions.

Exploring customer-specific financing to counter economic uncertainty

Hyster-Yale Materials Handling, Inc. offers tailored flexible financing solutions through its partnership with a panel of financial service providers, which the Yale Major Accounts Team can utilize for its clients. The company's financial services arm, HYGFS, is a key part of this, providing lift truck financing for dealers and customers in the United States. As of Q3 2025, Hyster-Yale's incremental obligations to Wells Fargo, which removes receivables guaranteed from HYGFS' loans, rose 6.3% year-over-year to $262.6 million. The Chief Executive noted that volatile interest rates and economic uncertainty are influencing long-term investment decisions, causing many customers to postpone capital expenditures.

Key financing support elements include:

• Tailored flexible financing solutions available.
• HYGFS provides financing for US dealers and customers.
• Incremental obligations related to HYGFS loans stood at $262.6 million in Q3 2025.

Finance: draft 13-week cash view by Friday.

Hyster-Yale Materials Handling, Inc. (HY) - Canvas Business Model: Channels

You're looking at how Hyster-Yale Materials Handling, Inc. gets its products-lift trucks, attachments, and parts-into the hands of customers globally as of late 2025. The channel strategy relies heavily on a mix of independent partners and direct engagement, especially when market conditions, like tariffs, shift the balance.

The backbone of the distribution remains the global network of independent, authorized dealers. While specific unit counts for the dealer network aren't current for Q3 2025, the installed base that supports aftermarket parts sales was approximately $1,014\text{K}$ units as of December 31, 2024. This network is crucial for local service and parts fulfillment. However, in Q3 2025, total dealer sales dropped by $14.1\%$ year-over-year, indicating customers were pausing capital expenditures.

The direct sales force plays an increasingly important role, particularly for large fleet and national accounts. This channel showed resilience in the Americas during Q3 2025, with direct sales there rising $9\%$ year-over-year, contrasting with the dealer sales decline. Overall, total direct sales increased by $9.2\%$ year-over-year in the latest reported quarter. This suggests strategic focus or necessity in securing larger, more stable contracts directly.

Regional marketing divisions manage the global footprint, which encompasses manufacturing facilities, service, and product development centers on five continents. Specific product development centers for lift trucks are located in the U.S., China, Italy, the Netherlands, the U.K., India, the Philippines, and Japan. The regional performance in Q3 2025 showed bookings improving across both the EMEA and JAPIC regions, while the Americas remained stable at relatively low levels. The Americas segment generated consolidated revenues of $\$732.7$ million in Q3 2025, a $5\%$ year-over-year decline.

For the crucial aftermarket business, the company relies on its large installed base to drive parts sales. While specific revenue from online portals for aftermarket parts and technical support isn't broken out in the Q3 2025 summary, the overall strategy is supported by the large installed base. Furthermore, the company utilizes a joint venture, HYGFS, for dealer and customer financing in the U.S., which received $\$1.4$ billion in loans from Wells Fargo at the end of Q3 2025. Dividends from this financing channel jumped $79.5\%$ year-over-year to $\$7.9$ million in that quarter.

Here's a look at the channel performance comparison for the Americas segment in Q3 2025:

Channel Metric (Americas)	Q3 2025 Amount	Year-over-Year Change
Dealer Sales	$\$330.1$ million	Down $20\%$
Direct Sales	$\$169.7$ million	Up $9\%$
Total Americas Revenue	$\$732.7$ million	Down $5\%$

And here are the total reported sales figures by channel for the entire business in Q3 2025:

Total Sales Metric (Global)	Q3 2025 Amount	Year-over-Year Change
Total Dealer Sales	$\$487.9$ million	Down $14.1\%$
Total Direct Sales	$\$171.6$ million	Up $9.2\%$

The company's ability to design globally and deliver locally is cited as a source of cost savings and competitive advantage for its dealers. You should track the direct sales growth against the dealer sales contraction; that trend is key to understanding near-term channel risk.

Finance: draft 13-week cash view by Friday.

Hyster-Yale Materials Handling, Inc. (HY) - Canvas Business Model: Customer Segments

You're looking at Hyster-Yale Materials Handling, Inc. (HY) customer base as of late 2025, which is navigating a choppy macroeconomic environment, evidenced by the Q3 2025 consolidated revenue of $979.1 million, down 4% year-over-year. Still, the backlog stood at $1.35 billion at the end of Q3 2025, showing a significant book of committed future work.

The customer base is diverse, spanning global commerce from the warehouse floor to the port. The Americas remains the largest geographic revenue contributor, though it saw a 5% YoY total revenue fall in Q3 2025, with dealer sales dropping 20% YoY to $330.1 million, while direct sales grew 9% YoY to $169.7 million in that quarter.

Here's a breakdown of the key customer segments based on the latest available product mix and end-market data:

Customer Segment Focus	Key Data Point / Metric	Relevant 2025/2024 Financial/Statistical Data
Global Logistics & Warehousing (Electric Focus)	High-growth area, driven by electrification.	Electric Units represented 32% of 2024 Lift Truck sales volume. Q1 2025 EMEA revenue decline was primarily due to lower Class 1 product sales.
Heavy Manufacturing & Industrial Facilities	Demand tied to industrial output and capital expenditure cycles.	Industrials accounted for 22% of 2024 Retail Lift Truck Unit Revenue. Higher-value Class 4 and Class 5 ICE trucks are key products here.
Ports, Terminals, & Intermodal Handlers (Big Trucks)	High-capacity, specialized equipment users.	JAPIC region Q1 2025 revenue saw a favorable shift towards Big Trucks. Big Truck sales represented 12% of total sales in 2024.
Retail & Wholesale Distribution Centers	High-volume, consistent demand for standard handling equipment.	Retail and Durable Goods accounted for 28% of 2024 Retail Lift Truck Unit Revenue. Food and Beverage was 23%.
Government & Infrastructure Projects	Contractual business, often requiring specific compliance.	Nuvera fuel cell business saw lower U.S. Department of Defense funding in Q1 2025. Americas direct sales grew 9% YoY in Q3 2025.

The focus on electrification is clear from the product mix. Class 1 Electric units made up 26% of 2024 unit revenue, with Class 2 Electric at 9% and Class 3 Electric at 5%. Honestly, the shift to electric is a major theme across the industry, with the global lift truck market predicted to grow in the 4% to 5% range through 2034.

For the specialized, heavy-duty end, the JAPIC geographic segment showed resilience in Q1 2025, posting a 25% revenue increase year-over-year, which the company attributed to a product mix shift towards Big Trucks. This suggests ports and large industrial users in that region were active buyers.

The distribution sector, which includes retail and logistics, forms a substantial portion of the core business:

• Logistics accounted for 27% of 2024 Retail Lift Truck Unit Revenue.
• Retail and Durable Goods was 28% of 2024 Retail Lift Truck Unit Revenue.
• The large installed base of lift trucks, around 1,014K units as of 12/31/24, drives aftermarket parts and service revenue, which is a critical, less cyclical segment for Hyster-Yale Materials Handling, Inc.

For government and infrastructure, while direct data is sparse, the growth in Americas direct sales by 9% YoY in Q3 2025 suggests success in securing larger, potentially compliance-driven contracts, even as dealer sales softened. Finance: draft 13-week cash view by Friday.

Hyster-Yale Materials Handling, Inc. (HY) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive Hyster-Yale Materials Handling, Inc.'s expenses right now, late in 2025. It's a cost structure under pressure from external factors and internal adjustments.

High cost of goods sold, driven by raw materials and tariffs

The Cost of Sales for the fiscal quarter ending in June of 2025 hit $788.4M. You see the impact of tariffs clearly in the quarterly reports; for instance, direct tariff costs in Q3 2025 were reported at $40 million. In Q2 2025, the company incurred approximately $10 million of additional costs due to increased tariffs for products entering the U.S. compared to the prior year. To manage this, inventory optimization efforts in Q3 2025, excluding foreign currency and tariff-related impacts of $40 million, still resulted in inventory levels decreasing by $155 million year-over-year.

Manufacturing labor and overhead expenses

Operational discipline is key when volumes drop. In Q2 2025, the Lift Truck operating results reflected reduced volumes and lower manufacturing overhead absorption. Still, the company is finding savings; Q3 2025 operating costs decreased year-over-year, largely due to lower employee-related expenses, including reduced incentive compensation.

Research and development (R&D) investments

Expenses for developing new products and changes to existing ones are charged as incurred. The latest reported full-year R&D figure was $135.9 million for 2024, up from $119.7 million in 2023 and $100.7 million in 2022. The company continues to invest in new products, including modular and scalable lift truck models.

Capital expenditures forecasted at $50 million to $60 million for 2025

Hyster-Yale Materials Handling, Inc. is maintaining a disciplined approach to investments this year. The forecast for capital expenditures for the full year 2025 is set to range between $50 million and $60 million. These funds are earmarked for strategic investments supporting profitable long-term growth, including advanced products, manufacturing efficiencies, and information technology upgrades.

Restructuring costs, including a Q4 2025 charge of approximately $21 million

To better align operations with low industry volumes, Hyster-Yale approved a restructuring plan. This involves reducing the global workforce by approximately 575 employees. The company expects to record a one-time pre-tax charge of about $21 million in the fourth quarter of 2025, primarily related to severance and associated employee benefits, with all costs paid in cash.

Here's a quick look at some of the key financial figures impacting the cost side of the ledger:

Cost/Expense Category	Specific Metric/Period	Amount (USD)
Cost of Sales	Fiscal Quarter Ending June 2025	$788.4M
Capital Expenditures	2025 Forecast Range	$50 million to $60 million
Restructuring Charge	Q4 2025 One-Time Pre-Tax Charge	Approximately $21 million
Tariff Costs	Q3 2025 Direct Costs	$40 million
Tariff/FX Impact on Inventory	Q3 2025 Exclusion	$40 million
R&D Investment	2024 Actual	$135.9 million

The restructuring is expected to generate annualized cost savings of $40 million to $45 million, starting in the first quarter of 2026. These savings are additive to previously announced restructuring initiatives.

• Annualized Cost Savings from Q4 2025 Restructuring: $40 million to $45 million
• Workforce Reduction: Approximately 575 employees
• Cash paid for Restructuring Charge: 100% of the $21 million charge

Hyster-Yale Materials Handling, Inc. (HY) - Canvas Business Model: Revenue Streams

You're looking at the streams of cash Hyster-Yale Materials Handling, Inc. pulls in, which is essential for understanding its financial health, especially in a volatile market like late 2025. Honestly, the business is built on big-ticket equipment sales, but the recurring revenue from parts and service is what keeps the lights on smoothly.

The core of the business remains the sale of new equipment, but the latest figures show the strain from tariffs and market uncertainty. For the first quarter of 2025, the Lift Truck revenue, which is the main engine, landed at $864.4 million. This segment is where the high-margin aftermarket parts and service sales are bundled, though a specific standalone number for that recurring revenue isn't explicitly broken out in the primary segment reporting for Q1 2025.

The Bolzoni segment, focused on attachments, forks, and lift tables, provides a distinct revenue source. In Q1 2025, Bolzoni segment revenue was reported at $80.3 million. This revenue stream saw a 17% year-over-year decline in Q1 2025, partly due to phasing out lower-margin legacy products.

Technology and energy solutions, primarily through the Nuvera fuel cell business, is a strategic investment area, but it hasn't yet translated into significant sales revenue. For Q1 2025, Nuvera revenue was $0, though the segment incurred an operating loss of $(10) million. Management is realigning Nuvera to achieve annualized cost savings of $15 to $20 million starting in the second half of 2025, betting on lithium-ion battery modules and modular hybrid platforms to drive future sales.

Rental and used equipment sales are typically captured within the overall Lift Truck segment results, often alongside aftermarket revenue. To give you a clearer picture of the latest reported revenue structure, here's a look at the Q1 2025 segment breakdown versus the consolidated total:

Revenue Component	Q1 2025 Revenue (in millions USD)	Notes
Consolidated Revenue	$910.4 million	Total for the three months ended March 31, 2025.
Lift Truck Business Revenue (Core)	$864.4 million	Includes new truck sales and likely aftermarket/service/rental components.
Bolzoni Segment Revenue (Attachments)	$80.3 million	Attachments, forks, and lift tables.
Nuvera Revenue (Energy Solutions)	$0 million	Reported zero revenue in Q1 2025.

The sum of the reported segments ($864.4M + $80.3M + $0M = $944.7M) does not equal the consolidated revenue ($910.4M), which is noted in filings as segment reporting not directly summing to the GAAP total. Still, the bulk of the revenue is clearly tied to the equipment sales.

Looking at the most recent quarter, Q3 2025, the revenue picture was slightly different, showing a sequential improvement:

• Consolidated Revenues (Q3 2025): $979.1 million.
• Lift Truck Revenues (Q3 2025): $929 million, a 4% year-over-year decline.
• Electric units accounted for 32% of truck sales as of Q2 2025.
• The Americas remains the largest geographic market, representing 75.3% of sales as of Q2 2025.
• Financing activities also contribute; dividends from the HYGFS joint venture jumped 79.5% year-over-year to $7.9 million in Q3 2025.

The Aftermarket parts and service sales are generally considered high-margin and recurring, which is a key strategic focus to stabilize earnings when new truck volumes are down. The rental and used equipment sales provide a secondary channel for monetization of the existing fleet. The company's focus on increasing service volume through its distribution network is a direct action to bolster these recurring revenue streams.

Finance: draft 13-week cash view by Friday.