SAF-HOLLAND reports robust earnings growth and strong cash flow amid improved demand momentum in the first quarter of 2026

SAF-HOLLAND reports robust earnings growth and strong cash flow amid improved demand momentum in the first quarter of 2026

• Group sales rise slightly to EUR 451.7 million (previous year: EUR 449.2 million)
• Adjusted EBIT margin of 9.4% nearly at previous year level (previous year: 9.5%)
• Operating free cash flow of EUR 44.8 million significantly exceeds the previous year figure (previous year: EUR 8.2 million)
• Outlook for fiscal year 2026 confirmed

Bessenbach, May 7, 2026. SAF-HOLLAND SE ("SAF-HOLLAND"), one of the world’s leading suppliers of trailer and truck components, has made a solid start to the 2026 fiscal year. In a market environment that varied by region, with improved demand momentum in the EMEA and APAC regions, the Group achieved robust earnings growth and significantly higher cash flow.

Group sales up slightly compared to the same quarter last year

SAF-HOLLAND’s Group sales rose slightly by 0.6% to EUR 451.7 million in the first quarter of 2026 (previous year: EUR 449.2 million). Adjusted for currency effects, Group sales increased by 5.6% in the first quarter of 2026.

With sales of EUR 236.2 million (previous year: EUR 218.9 million), the EMEA region consolidated its position as the region with the highest sales and increased its share of sales to 52.3%. This development was supported by an overall robust market environment in the trailer and truck customer group. The APAC region generated sales of EUR 58.6 million (previous year: EUR 53.9 million), recording the highest growth momentum among the three regions, driven in particular by continued solid demand in India and Australia. In the Americas region, however, sales declined by 11.1% to EUR 156.9 million (previous year: EUR 176.4 million) due to a market environment that remained characterized by uncertainty. Although there were early-order-driven boosts in order intake at the beginning of the year in the wake of the announced introduction of new emissions standards, these did not yet translate into corresponding production volumes in the first three months of the year. The global trailer original equipment customer group developed positively and reached a sales share of 52.0% (previous year: 49.1%). The aftermarket business once again contributed to stabilizing sales development with a largely stable share of 37.0% (previous year: 37.8%). The sales share of the truck original equipment customer group amounted to 11.0% (previous year: 13.1%).

Adjusted EBIT margin nearly at previous year level 

Adjusted EBIT in the first quarter of 2026 was nearly at the previous year level at EUR 42.5 million (previous year: EUR 42.7 million). Accordingly, the adjusted EBIT margin reached 9.4% (previous year: 9.5%). Regional mix effects resulting from a lower absolute earnings contribution from the Americas region compared to the previous year had a slightly negative impact. However, this was offset by initial positive effects from the efficiency program initiated in 2025 in the administrative and sales areas.

Result for the period and earnings per share significantly improved

SAF-HOLLAND significantly increased its result for the period in the first quarter of 2026. It rose by 53.9% compared to the same quarter of the previous year to EUR 31.7 million (previous year: EUR 20.6 million).

In addition to the stable development in operating earnings, a significantly improved financial result also contributed to this increase. This amounted to EUR –5.2 million in the reporting period, representing a significant improvement over the previous year figure of EUR –15.3 million. A key factor in this was the positive development of unrealized foreign exchange effects, which amounted to EUR 3.2 million in the first quarter of 2026, after having had a negative impact of EUR –5.8 million in the same quarter of the previous year. This is attributable to adjustments to the Group’s internal financing structure, which further reduced currency risks, as well as to favorable exchange rate movements, particularly of the U.S. dollar. In addition, optimizations of the external financing structure, combined with a more favorable interest rate environment, had a positive impact on interest expenses.

With an income tax rate of 35.3% (previous year: 35.1%), which remained almost unchanged, the result for the period attributable to the shareholders of the parent company amounted to EUR 20.5 million (previous year: EUR 13.0 million).

Basic earnings per share amounted to EUR 0.45 (previous year: EUR 0.29). The average number of shares outstanding declined slightly during the reporting period as a result of the share buyback program launched in November 2025.

A positive trend was also evident on an adjusted basis: Adjusted result for the period after minority interests rose by 37.8% year-over-year to EUR 27.7 million (previous year: EUR 20.1 million). Accordingly, adjusted earnings per share increased to EUR 0.61 (previous year: EUR 0.45).

Strong operating free cash flow

SAF-HOLLAND’s cash flow performance improved significantly in the first quarter of 2026. Operating free cash flow rose to EUR 44.8 million, significantly exceeding the previous year figure of EUR 8.2 million. In addition to solid operating performance, this was driven in particular by strict inventory management and improvements on the liabilities side resulting from extended payment terms with suppliers, which led to a significantly lower cash outflow from changes in net working capital.

Outlook for fiscal year 2026 confirmed

The Management Board of SAF-HOLLAND SE confirms the outlook for fiscal year 2026 unchanged. Based on stable exchange rates, the Management Board continues to expect Group sales for fiscal year 2026 to be in the range of EUR 1,700 to EUR 1,850 million (previous year: EUR 1,734.4 million).

Based on this assumption, the company continues to expect an adjusted EBIT margin of between 9% and 10% (previous year: 9.5%). The capital expenditure ratio is expected to remain unchanged at up to 3% (previous year: 3.0%) of Group sales.

Alexander Geis, Chairman of the Management Board and Chief Executive Officer of SAF-HOLLAND SE, summarizes: “Against the backdrop of continuing varied market conditions, we made targeted use of the positive momentum in EMEA and APAC in the first quarter of 2026. At the same time, we achieved tangible progress in efficiency and cost control. The results achieved, as well as the significantly improved cash flow, demonstrate that our operational measures are increasingly paying off. On this basis, we confirm our outlook for fiscal year 2026 and consider ourselves well-positioned for the remainder of the year.”

Key financial figures for the first quarter of 2026

 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.