SAF-HOLLAND accelerates growth in the third quarter of 2026, increases profitability, and generates strong cash flow

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SAF-HOLLAND accelerates growth in the third quarter of 2026, increases profitability, and generates strong cash flow

• Group sales rose 4.1% to EUR 1,362.3 million in the first nine months of 2026 (previous year: EUR 1,308.8 million); sales increased by 9.4% to EUR 456.6 million in the third quarter
• Adjusted EBIT increased to EUR 130.3 million (previous year: EUR 121.1 million); adjusted EBIT margin improved to 9.6% (previous year: 9.3%)
• The result for the period rose significantly to EUR 61.1 million (previous year: EUR 37.9 million); the adjusted earnings per share amounted to EUR 1.85 (previous year: EUR 1.33)
• Operating free cash flow more than doubled to EUR 123.6 million (previous year: EUR 47.6 million)
• Outlook for fiscal year 2026 confirmed

Bessenbach, November 5, 2026. SAF-HOLLAND SE (“SAF-HOLLAND”), one of the world’s leading suppliers of trailer and truck components, looks back on a positive business performance in the first nine months of 2026, with rising sales and improved profitability.
 

Sales growth accelerated significantly in the third quarter

In the first nine months of 2026, SAF-HOLLAND increased Group sales by 4.1% to EUR 1,362.3 million (previous year: EUR 1,308.8 million); organic growth amounted to 6.0%. Sales growth picked up significantly in the third quarter, with sales of EUR 456.6 million, up 9.4% from the same quarter of the previous year (EUR 417.2 million). Organic growth was 8.8%.

The original equipment business was the key growth driver. Demand in the trailer markets in Europe and Asia-Pacific – particularly in India – which had been solid since the beginning of the year, continued into the third quarter. As a result, sales from trailer manufacturers rose by 9.2% in the first nine months and accounted for approximately half of Group sales. Additional growth momentum in the third quarter also came from the recovery of the North American truck market. Since the market recovery did not begin until later in the year, its impact on the nine-month period has been limited so far. Sales from truck manufacturers were therefore slightly above the previous year’s level, up 0.9%. The aftermarket business reached EUR 515.2 million in the first nine months, nearly matching the previous year’s figure of EUR 520.7 million.

Regionally, EMEA and APAC in particular benefited from solid demand in the trailer market. EMEA increased sales by 6.1% to EUR 699.2 million in the first nine months, while APAC grew by 14.6% to EUR 170.3 million. In the Americas region, where the recovery in the truck market did not become apparent until the third quarter, sales of EUR 492.8 million were 1.7% below the previous year’s level, while organic growth of 1.1% was achieved.

Adjusted EBIT margin improved to 9.6%

Adjusted EBIT increased by 7.6% to EUR 130.3 million in the first nine months of 2026 (previous year: EUR 121.1 million). As a result, the adjusted EBIT margin improved to 9.6% (previous year: 9.3%). The positive earnings trend was driven in particular by the EMEA and APAC regions, as well as by continued rigorous cost control and the effects of the efficiency program initiated in the previous year.

In the third quarter, this positive trend strengthened further. Adjusted EBIT increased by 16.2% to EUR 44.3 million, compared to EUR 38.1 million in the same quarter of the previous year. The adjusted EBIT margin rose accordingly from 9.1% to 9.7%. In APAC, a one-time effect in the low single-digit million-EUR range resulting from the modification of a lease agreement had a positive impact. This was offset by the weaker performance of the aftermarket business in the Americas region, which was attributable, among other things, to temporary constraints in connection with the implementation of SAP S/4HANA at five production sites and the resulting timing shifts in sales.

Result for the period rises by around 61%

The positive trend in operating result and the significantly improved financial result led to a significant increase in the result for the period for the first nine months of 2026. The financial result improved from EUR −40.2 million in the same period of the previous year to EUR −20.0 million. This was primarily due to the valuation of unrealized currency effects from intercompany financing and dividends. Accordingly, the result for the period attributable to equity holders of the parent company increased by 61.2% to EUR 61.1 million (previous year: EUR 37.9 million). Earnings per share rose accordingly to EUR 1.37, up from EUR 0.84 in the same period of the previous year.

The adjusted result for the period after minority interests also increased by 37.0% to EUR 82.6 million (previous year: EUR 60.3 million), bringing the adjusted earnings per share to EUR 1.85 (previous year: EUR 1.33).

Operating free cash flow more than doubled

Cash flow performance improved significantly in the first nine months of 2026. Net cash flow from operating activities increased to EUR 154.3 million compared with EUR 79.3 million in the same period of the previous year. This was primarily driven by the strong operating profit as well as a significantly lower cash outflow from the change in net working capital, which amounted to EUR 11.7 million, compared with EUR 53.5 million in the same period of the previous year.

Cash outflow from investing activities in property, plant and equipment and intangible assets totaled EUR 30.7 million, compared with EUR 31.7 million in the same period of the previous year. The investments primarily related to the new plant in Rowlett, Texas, USA; the IT and systems infrastructure; and other actions to implement the drive2030 strategy. As a result, operating free cash flow increased to EUR 123.6 million, up EUR 76.0 million from the previous-year figure of EUR 47.6 million. Operating free cash flow also showed a clearly positive trend in the third quarter, reaching EUR 57.9 million compared with EUR 38.5 million in the same quarter of the previous year.

Accordingly, net financial debt (including lease liabilities) decreased by EUR 45.5 million compared to the balance sheet date of December 31, 2025, to EUR 459.8 million. Combined with higher EBITDA over the last twelve months, this led to an improvement in the leverage ratio to 2.0, compared with 2.3 at the end of 2025.

Outlook for fiscal year 2026 confirmed

Based on the positive sales and earnings performance in the first nine months, SAF-HOLLAND considers itself well-positioned for the remainder of the year. The company continues to anticipate an overall positive business trend in EMEA and APAC. Market indicators have also improved in North America. SAF-HOLLAND expects that the sales in the aftermarket business delayed in connection with the SAP S/4HANA rollout will be largely realized in the fourth quarter of 2026.

The Management Board confirms the outlook for fiscal year 2026. Taking into account the potential risks and opportunities, SAF-HOLLAND continues to expect Group sales of between EUR 1,700 million and EUR 1,850 million, an adjusted EBIT margin of 9% to 10%, and a Capex ratio of up to 3% of Group sales. Given the positive business performance in the third quarter and improved visibility for the remainder of the fiscal year, the Management Board currently expects Group sales to be in the upper third of the forecast range. Potential negative impacts from geopolitical uncertainties and volatile energy and commodity markets are expected to be largely offset by pricing measures and continuous efficiency and productivity improvements.

Alexander Geis, Chairman of the Management Board and Chief Executive Officer of SAF-HOLLAND SE, says: “The performance in the third quarter shows that our consistent focus on efficiency, cost structures, and operational performance is paying off. At the same time, we are benefiting from our broad regional presence and the recovery of key original equipment markets. Strong cash generation strengthens our financial flexibility and provides additional leeway for the continued implementation of our drive2030 strategy. This momentum gives us confidence and confirms that we are on the right track for fiscal year 2026.”

Key financial figures for the third quarter and first nine months of 2026

Rounding of individual figures and percentages may result in minor calculation differences.

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.