阿拉莫 2025年度报告

LETTER TOOURSHAREHOLDERS Dear Shareholders, WhenIjoined Alamo Group as Chief Executive Officerin September, Idid so with a deep appreciationforthe foundation that has already been built.Iwasdrawn here by the strength of our storied brands,the quality ofour innovativeproducts, and,mostimportantly, the dedication of the amazing peoplewho drive this business every day. Over the past fewmonths, my conviction has only deepened: we havealltheessentialelementstonotonlycompete,butto lead, to win and to make a difference in the world. strategic acquisitions, including Ring-O-Maticand Petersen Industries, which closed in early2026. These additions were not just about growthfor growth's sake; they fit our new vision foracquisitions. We are adding niche businesses thatcommand leadership positions in markets we arefamiliar with and that are accretive to our existingorganic business model. Our strategic framework is already being deployedacross our two exceptional operating divisions, theIndustrial EquipmentDivision and theVegetationManagement Division. Both divisions possess distinctmarket advantages andarepoisedforfuturesuccess. By applying our new operational rigorandcommercialfocustothesesegments,weareconfident in our ability to deliver on our long-termfinancial goals for growth, operating margins andfree cash flow yield. This past year has been a period of significanttransition-a year of change. While we navigatedacomplex,seeminglyever-changingmacroeconomicenvironment and somevolatility withinourVegetation end markets, we have not stood still.Instead, we used this time to reset our trajectory,sharpen ourfocus,and realign our business,accordingly.Weareemerging as amore agile,disciplined, and purpose-driven organization. We seeand share the vision, going beyond just deliveringstrong financial returns,providing solutions that helpmake our communities safe, clean and sustainable. As we embark on this journey,I want to makea personal commitment to you, our shareholders,around disciplineand transparency.Wewillbeintentional withouractions,openaboutoursignificant challenges, actions and milestones,and consistent in our communication as we moveforward.IamincrediblyproudtoleadAlamoGroupinto the future and am enthusiastic about what liesahead.My confidence isrooted in thetalent andresilience of our nearly 4,o00 employees aroundthe globe, who are the true engine poweringourtransformation. To unlock our full potential, wehave aligned ourstrategy around four pillars for growth and success: Employee Engagement:Our peopleare theheartbeat of our success.We continue to buildand reinforce a culture where every employeefeels empoweredandengaged, knowingthattheirtalent is our greatest competitive advantage. Commercial Focus: We are investing in andaligningourinnovationandcommercial strategiesdirectly with our customers'needs, and ensuringwe are solving the right problems and deliveringundeniablevalue.Throughout our organization,we are driving a culture of customer care and rapidproblem resolution. As we have worked through this transition year,I would like to express my thanks and appreciationto our employees who continue to demonstratea strong passion for our customers. also want tothank our customers and shareholders, many ofwhom I've had the opportunity to meet and heartheir perspectives.All of you are helping to furthershape thefoundation of Alamo Group and supportour mission to deliver superior performance. Operational Focus: We are embedding a relentlessmindset of operational excellence and continuousimprovement. This is more than just efficiency; it isabout building a manufacturing engine that is lean,safe, and capable of delivering quality consistently,regardless of market conditions. Sincerely, Disciplined Capital Deployment:We are committedto allocating capital where it drives the highestreturns. This discipline was exemplified by two Robert P. HureauPresident and CEOAlamo Group Inc. ALAMOGROUPCORPORATEPROFILE Alamo Group is a leader in the manufacture and sale of high-quality, purpose-buit industrial and vegetationmanagement equipment. We serve end-markets such as infrastructure building and maintenance, industrialequipment dealers and directly to contractors and municipalities. Product categories include vocational productsrelated after-market parts and services.The Company operates two divisions: the Industrial Equipment Divisionoperates27manufacturingfacilities inNorthAmerica,Canada,Europe, Brazil andAustralia asof December31,2025.ThecorporateofficesofAlamoGroupInc.arelocatedinSeguin,Texas. VegetationManagementDivision Our Vegetation Management Division produces a wide range of equipment for the maintenance, managementand recycling of organic materials. The Division's products include a wide array of mowing equipment fromstump grinders, mulchers, and brush cutters. Industrial EquipmentDivision Our Industrial Equipment Division produces a wide range of equipment for infrastructure maintenance on andaroun