Saf-holland Se · XETR:SFQ

Saf-holland — Q2 2025 Earnings Presentation

25 slides from Saf-holland's earnings presentation, Aug 7, 2025

  1. Slide 1: Conference Call Presentation Q2 2025

    CONFERENCE CALL PRESENTATION Q2 2025 Your partner wherever you drive Alexander Geis (CEO) & Frank Lorenz-Dietz (CFO) August 7, 2025 < 1 >

  2. Slide 2: Highlights and regional performance Q2 2025

    Highlights and regional performance Q2 2025 Q2 2025 Call Presentation < 2 >

  3. Slide 3: Q2 2025 Financial highlights

    Q2 2025 Financial highlights Outlook Sales Outlook for fiscal year 2025 adjusted EUR 442.4 mn (PY: EUR 507.1 mn) Continued slowdown in OE demand partially offset by acquisition-related effects while AM stayed robust; organic decline of -11.7% Leverage Adj. EBIT margin 2.4x (Dec 2024: 1.9x) 9.1% (PY:

  4. Slide 4: Continued muted OE demand and tariff-related costs

    Continued muted OE demand and tariff-related costs Group sales Sales (in EUR mn) -11.9% • Subdued demand in the commercial vehicle markets led to an 1,000 12 1,012.5 organic decline in sales of 11.7% yoy in Q2 2025 891.6 800 10 -12.8% 8 • OE sales declined by 16.2% yoy in Q2 2025 while aftermarket 6

  5. Slide 5: Sales split by region and customer segment

    Sales split by region and customer segment Group sales split (by region, by customer category) • EMEA was strengthened by acquisition-related growth 12.8% 11.1% from Assali Stefen while trailer production volumes remained muted; Truck markets started to improve • Americas exposure was impacted by ov

  6. Slide 6: EMEA with slight sequential improvement

    EMEA with slight sequential improvement EMEA sales Sales (in EUR mn) -7.5% • Q2 2025 organic sales development amounted to -8.4% yoy 400 12 477.5 441.9 primarily reflecting soft trailer market while truck segment -4.4% 10 started to improve; order book shows ongoing slight 300 improvements in OE 233

  7. Slide 7: US tariffs impacting OE demand and profitability

    US tariffs impacting OE demand and profitability Americas sales Sales (in EUR mn) -14.7% • Q2 2025 organic sales development amounted to -13.3% yoy 406.3 due to purchasing restraints related to the uncertain situation 400 12 346.5 around the US trade policy but was supported by a robust 10 300 -18.5

  8. Slide 8: Soft market momentum in India and Australia with dampening effect

    Soft market momentum in India and Australia with dampening effect APAC sales Sales (in EUR mn) • Q2 2025 organic sales were 18.4% below PY mainly due to -19.9% continued soft trailer business in India as a result of the general economic slowdown and trade-related uncertainties, lower 128.7 demand fr

  9. Slide 9: Financials Q2 2025

    Financials Q2 2025 Q2 2025 Call Presentation < 9 >

  10. Slide 10: EBIT to adjusted EBIT reconciliation for the Group

    EBIT to adjusted EBIT reconciliation for the Group in EUR mn Q2 2025 Q2 2024 H1 2025 H1 2024 EBIT 1 34.5 46.3 -25.6% 70.4 89.7 -21.6% 1 Reported EBIT influenced by lower topline development EBIT margin in % 7.8 9.1 7.9 8.9 and higher tariff expenses Additional depreciation & 5.6 6.5 11.5 11.7 2 Rest

  11. Slide 11: Topline slowdown and unfavorable FX development mainly impacted EPS

    Topline slowdown and unfavorable FX development mainly impacted EPS in EUR mn Q2 2025 Q2 2024 H1 2025 H1 2024 1 Despite improved interest expenses by ~28% yoy, financial EBIT 34.5 46.3 -25.6% 70.4 89.7 -21.6% result declined by EUR 5.1 mn Finance result 1 -17.0 -11.9 -32.3 -18.1 based on an unfavora

  12. Slide 12: Impact of strong currency effects already partially limited in Q2

    Impact of strong currency effects already partially limited in Q2 in EUR mn Q2 2025 Q2 2024 Q1 2025 Q1 2024 H1 2025 H1 2024 Financial result -17.0 -11.9 -15.3 -6.2 -32.3 -18.1 Thereof interest expenses due to interest bearing loans -6.5 -9.0 -8.1 -8.5 -14.6 -17.5 YOY impact Thereof unrealized FX gai

  13. Slide 13: Adjusted dividend calculation method

    Adjusted dividend calculation method • Going forward – in order to take account of Previous calculation the unrealized exchange rate changes in EUR mn H1 2025 impacting the financial result – SAF- Result for the period attributable to equity holders HOLLAND will adjust the profit relevant for 24.0 o

  14. Slide 14: Equity ratio impacted by dividend payment and currency effects

    Equity ratio impacted by dividend payment and currency effects • Compared to 31 December 2024, equity declined by 11.8% mainly due 37.3% to the dividend payment of EUR 32.2% 31.2% 38.6 mn as well as negative FX 30.8% 29.5% 28.6% 29.5% 28.5% 28.7% valuation effects of EUR 35.8 mn 27.2% 27.5% 27.7% 25

  15. Slide 15: Geopolitically driven built-up of net working capital

    Geopolitically driven built-up of net working capital Net working capital (in % of sales) 18.2% • Inventory management reflects 17.4% 16.9% tariff-related uncertainties as 15.9% 16.5% 16.4% well as ongoing aftermarket 15.6% 15.4% inventory needs 15.8% 15.5% • Compared to June 2024, NWC 14.5% improve

  16. Slide 16: Operating free cash flow driven by NWC management and operating performance

    Operating free cash flow driven by NWC management and operating performance in EUR mn Q2 2025 Q2 2024 H1 2025 H1 2024 1 Market-related lower operating performance EBITDA 56.5 68.7 1 115.4 132.5 Change in Net Working Capital -18.8 +21.5 2 -46.5 -22.1 2 Increased cash outflow from changes in net worki

  17. Slide 17: Leverage ratio

    Leverage ratio Net debt/EBITDA • Increase in net debt compared to year-end 2.6 2024 mainly influenced by increase in lease 2.5 2.4 2.4 liabilities of EUR 19.7 mn (Rowlett factory built-up) as well as lower operating 2.1 2.0 performance 1.9 1.9 1.9 1.9 1.8 1.6 1.1 0.7** Jun Sep Dec Mar Jun Sep Dec Ma

  18. Slide 18: Successful promissory note placement further improves maturity profile

    Successful promissory note placement further improves maturity profile Maturity profile (EUR mn) • Very strong demand - more than twice as of June 2025 oversubscribed Post completion of refinancing activities • Proceeds of new promissory note transaction of EUR 330 mn will be used for future refinan

  19. Slide 19: Outlook FY 2025 and key takeaways

    Outlook FY 2025 and key takeaways Q2 2025 Call Presentation < 19 >

  20. Slide 20: 2025 Market outlook adjusted

    2025 Market outlook adjusted H1 2025 H1 2025 FY 2025e FY 2025e Trailer Market Truck Market Trailer Market Truck Market EMEA ~ -15 to -20% ~ 0 to +5% +/- 0% 0 to +5% -20 to -30% -20 to -30% North America -27% -18% (previously: -10 to -20%) (previously: -10 to -20%) -10 to -20% -5 to -10% Brazil ~ -20

  21. Slide 21: Outlook 2025

    Outlook 2025 Sales Group Adjusted Group • Business environment has further deteriorated in commercial Group vehicle markets such as North America and Asia FY 2025 FY 2025 FY 2024 • Markets for trucks and trailer in North America expected to stay Outlook Outlook muted until year-end Results as of Mar

  22. Slide 22: Key takeaways

    Key takeaways Trade policy uncertainty impacted year-to-date performance and continues to undermine outlook for 1 truck and trailer markets especially in North America and Asia 2 Excluding additional tariff-related costs, profitability developed solidly Positive operating free cash flow of EUR +9.1

  23. Slide 23: Contact and additional information

    Contact and additional information Q2 2025 Call Presentation < 23 >

  24. Slide 24: Investor relations contact & financial calendar

    Investor relations contact & financial calendar Issuer & contact Financial calendar and road show activities SAF-HOLLAND SE  Hauptstrasse 26  63856 Bessenbach August 7, 2025 Publication Half-Year Report H1 2025 Dana Unger September 4, 2025 ODDO / Commerzbank Conference, Frankfurt Vice President In

  25. Slide 25: Disclaimer

    Disclaimer This presentation has been prepared by SAF-HOLLAND SE (“SAF-HOLLAND”) and comprises written materials concerning SAF-HOLLAND. It is furnished to you solely for your information and may not be reproduced or redistributed, in whole or in part, to any other person. It contains summary inform

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