EQS-News: SAF-HOLLAND continues profitable gr...

SAF-HOLLAND continues profitable growth in the first half of 2026 and significantly improves cash flow

• Group sales rise by 1.6% to EUR 905.7 million in the first half of 2026 (previous year: EUR 891.6 million); Group sales in the second quarter increase by 2.6% to EUR 454.0 million (previous year: EUR 442.4 million)
• Adjusted EBIT improves to EUR 85.9 million (previous year: EUR 83.0 million) with an adjusted EBIT margin of 9.5% (previous year: 9.3%)
• Result for the period increases significantly to EUR 42.0 million (previous year: EUR 24.0 million); adjusted earnings per share rise to EUR 1.24 (previous year: EUR 0.83)
• Operating free cash flow of EUR 65.8 million significantly exceeds the previous year figure (EUR 9.1 million)
• Outlook for fiscal year 2026 confirmed

Bessenbach, August 6, 2026. SAF-HOLLAND SE ("SAF-HOLLAND"), one of the world’s leading suppliers of trailer and truck components, continued its successful start to fiscal year 2026 in the second quarter. Despite a market environment that remained heterogeneous, the Group increased sales, profitability and cash flow, and confirmed its outlook for the full year.

Group sales amounted to EUR 905.7 million, up 1.6% compared to the previous year’s figure of EUR 891.6 million. Adjusted for currency effects, Group sales increased by 4.7%. In the second quarter of 2026, Group sales rose by 2.6% to EUR 454.0 million (previous year: EUR 442.4 million).

Sales growth driven by EMEA and APAC

Sales development varied by region. The EMEA region increased sales to EUR 467.3 million (previous year: EUR 441.9 million), consolidating its position as the Group’s region with the highest sales. In the Americas region, sales amounted to EUR 324.5 million (previous year: EUR 346.5 million). On an organic basis, sales declined by only 1.3% despite continued muted demand in the North American commercial vehicle markets. The APAC region continued its dynamic growth trajectory and increased sales to EUR 113.9 million (previous year: EUR 103.1 million), driven in particular by positive trailer demand in India and Australia. On an organic basis, growth amounted to 20.2%.

By customer group, the trailer original equipment business remained the Group’s most important source of sales. Sales in this customer group rose to EUR 459.1 million (previous year: EUR 428.3 million), increasing its share of Group sales to 50.7%. The truck original equipment business accounted for EUR 101.8 million (previous year: EUR 113.1 million), representing 11.2% of Group sales. The aftermarket business generated sales of EUR 344.8 million (previous year: EUR 350.2 million) and contributed 38.1% to Group sales. Adjusted for negative currency effects, the aftermarket business recorded robust organic growth of 1.9%, once again proving to be a resilient pillar of the Group.

Adjusted EBIT margin improves to 9.5%

The positive profitability development seen in the first quarter continued in the second quarter. Adjusted EBIT increased to EUR 85.9 million in the first half of the year (previous year: EUR 83.0 million), while the adjusted EBIT margin improved to 9.5% (previous year: 9.3%). In the second quarter, adjusted EBIT rose to EUR 43.4 million, compared to EUR 40.3 million in the same quarter of the previous year. The adjusted EBIT margin therefore improved to 9.6% (previous year: 9.1%).

This positive development was driven by robust operating performance, economies of scale in production, an improved cost structure and the consistent implementation of efficiency measures. Particularly encouraging was the fact that all three regions were able to improve their profitability compared to the previous year.

Result for the period and earnings per share significantly improved

The strong operating performance and significantly improved financial result had a positive impact on earnings in the first half of 2026. The financial result improved to EUR –11.0 million after EUR –32.3 million in the prior-year period. Adjusted for unrealized foreign exchange effects from intercompany foreign currency loans, the financial result improved by around EUR 0.4 million, mainly as a result of an optimized financing structure and the associated lower interest expenses. In addition, the financial result benefited from positive valuation effects from intercompany foreign currency loans, which led to a significant improvement in the balance of unrealized foreign exchange gains and losses of EUR 6.5 million (previous year: EUR –14.5 million).

Against this backdrop, earnings before taxes rose to EUR 64.6 million (previous year: EUR 38.0 million). The result for the period attributable to the shareholders of the parent company increased to EUR 42.0 million (previous year: EUR 24.0 million).

Basic earnings per share improved to EUR 0.93 (previous year: EUR 0.53), based on a weighted average number of ordinary shares outstanding of 45.0 million (previous year: 45.4 million). Adjusted result for the period after minority interests reached EUR 55.7 million (previous year: EUR 37.7 million), while adjusted earnings per share rose to EUR 1.24 (previous year: EUR 0.83).

Operating free cash flow significantly improved

SAF-HOLLAND significantly improved cash flow generation in the first half of 2026. Operating free cash flow increased to EUR 65.8 million, more than EUR 56 million above the previous year’s level of EUR 9.1 million. This was mainly due to continued strong operating earnings power and a lower cash outflow from net working capital. In the second quarter of 2026, operating free cash flow amounted to EUR 21.0 million (previous year: EUR 0.9 million).

Outlook for fiscal year 2026 confirmed

Against the backdrop of the positive business development in the first half of the year, the Management Board confirms the outlook for fiscal year 2026. Based on stable exchange rates, the Management Board continues to expect Group sales to be in the range of EUR 1,700 million to EUR 1,850 million.

SAF-HOLLAND continues to expect an overall positive business trend in the EMEA and APAC regions. In North America, recently improved market indicators also point to a gradual recovery in the market environment. The aftermarket business is expected to develop steadily based on the existing vehicle population. Furthermore, the overall economic environment could continue to be shaped by geopolitical uncertainties as well as increased volatility in energy and commodity markets. This could result in pressures on the procurement side. However, SAF-HOLLAND expects to be able to largely offset any resulting headwinds through pricing measures and continuous efficiency and productivity gains, as in the past.

For fiscal year 2026, SAF-HOLLAND confirms its forecast of an adjusted EBIT margin of between 9% and 10%. The capital expenditure ratio is still expected to amount to up to 3% of Group sales.

Alexander Geis, Chairman of the Management Board and Chief Executive Officer of SAF-HOLLAND SE, says: “We remain on track in fiscal year 2026. Following a successful start to the year, we have once again improved our profitability and generated significantly higher operating free cash flow. The fact that all three regions were able to increase their EBIT margin compared to the previous year underlines the quality of our operating development and the progress made in efficiency and cost management. On this basis, we consider ourselves well-positioned for the remainder of the year.”

 

 

Key financial figures for the second quarter and first half of 2026

 

in EUR thousand	Q1–Q2/2026	Q1–Q2/2025	Change in %	Q2/2026	Q2/2025	Change in %
Results of Operations
Sales	905,673	891,565	1.6%	453,996	442,399	2.6%
Gross profit	202,836	204,363	–0.7%	102,832	99,338	3.5%
Gross profit margin in %	22.4%	22.9%		22.7%	22.5%
Adjusted gross profit	206,939	207,774	–0.4%	104,461	101,172	3.3%
Adjusted gross profit margin in %	22.8%	23.3%		23.0%	22.9%
EBITDA	117,548	115,389	1.9%	59,865	56,538	5.9%
EBITDA margin in %	13.0%	12.9%		13.2%	12.8%
Adjusted EBITDA	118,414	116,469	1.7%	59,809	56,763	5.4%
Adjusted EBITDA margin in %	13.1%	13.1%		13.2%	12.8%
EBIT	75,566	70,362	7.4%	38,655	34,469	12.1%
EBIT margin in %	8.3%	7.9%		8.5%	7.8%
Adjusted EBIT	85,932	82,960	3.6%	43,435	40,268	7.9%
Adjusted EBIT margin in %	9.5%	9.3%		9.6%	9.1%
Result for the period attributable to shareholders of the parent Company	42,048	24,029	75.0%	21,562	10,982	96.3%
Adjusted result for the period attributable to the shareholders of the parent Company	55,694	37,728	47.6%	28,010	17,639	58.8%
Basic earnings per share in EUR	0.93	0.53	75.0%	0.48	0.24	96.3%
Adjusted earnings per share in EUR	1.24	0.83	47.6%	0.63	0.38	58.8%
Financial position
Net cash flow from operating activities	86,555	30,543	183.4%	36,948	14,122	161.6%
Net cash flow from investing activities (property, plant and equipment/intangible assets)	–20,785	–21,457	–3.1%	–15,991	–13,217	21.0%
Operating free cash flow	65,770	9,086	623.9%	20,957	905	2,215.7%
Net cash flow from investing activities (acquisition of subsidiaries)	–	–12,671	–	–	–12,671	–
Total free cash flow	65,770	–3,585	–	20,957	–11,766	–
Yield	06/30/2026	12/31/2025
Return on capital employed (ROCE) in %	15.9%	15.8%
Balance sheet	06/30/2026	12/31/2025
Balance sheet total	1,743,598	1,663,311	4.8%
Equity	506,986	491,954	3.1%
Equity ratio in %	29.1%	29.6%
Non-current and current liabilities	1,236,612	1,171,357	5.6%

All figures shown are rounded, minor deviations may arise due to additions to these amounts.

Contact:

 

Dana Unger      

VP Investor Relations, Corporate & ESG Communications

Tel: +49 6095 301 949

dana.unger@safholland.de

 

Alexander Pöschl 

Senior Manager, Investor Relations, Corporate & ESG Communications

Phone: +49 6095 301 117

alexander.poeschl@safholland.de

 

 

 

About SAF-HOLLAND

SAF-HOLLAND SE is a leading international manufacturer of chassis-related assemblies and components for trailers, trucks, and buses. An average of around 5,600 dedicated employees worldwide generated sales of approximately EUR 1.73 billion in 2025.

The product range includes axle and suspension systems for trailers as well as fifth wheels and coupling systems for trucks, trailers, and semi-trailers as well as brake and EBS systems. In addition, SAF-HOLLAND also develops innovative products to increase the efficiency, safety, and environmental friendliness of commercial vehicles. With the brands SAF, Holland, Haldex, Assali Stefen, KLL, Neway, Tecma, V.Orlandi and York, the Group achieved strong market positions in the top three positions in the most important regions worldwide in 2025.

SAF-HOLLAND supplies manufacturers in the original equipment market on six continents. In the aftermarket business, the company supplies spare parts to manufacturers’ service networks and wholesalers as well as to end customers and service centers via an extensive global distribution network.

SAF-HOLLAND SE is listed in the Prime Standard of the Frankfurt Stock Exchange and is included in the SDAX (ISIN: DE000SAFH001). Further information is available at www.safholland.com.