Saf-holland Se · XETR:SFQ
Saf-holland — Q1 2026 Earnings Presentation
22 slides from Saf-holland's earnings presentation, May 7, 2026
Slide 1: Conference Call Presentation Q1 2026
Conference Call Presentation Q1 2026 Prepared for tomorrow Alexander Geis (CEO) & Frank Lorenz-Dietz (CFO) May 7, 2026
Slide 2: Highlights and regional performance Q1 2026
01 Highlights and regional performance Q1 2026 Q1 2026 Call Presentation 2
Slide 3: Q1 2026 Financial highlights
Q1 2026 Financial highlights Outlook Sales Outlook for fiscal year 2026 confirmed EUR 451.7 mn (PY: EUR 449.2 mn) Recovery in OE markets in EMEA and APAC results in strong organic growth of 5.6% Leverage Adj. EBIT margin 2.2x (Dec 2025: 2.3x) 9.4% (PY: 9.5%) Slightly improved leverage ratio in light
Slide 4: Strong organic growth with solid profitability
Strong organic growth with solid profitability Group sales Sales (in EUR mn) +0.6% 500 • Despite an ongoing muted OE market in North America, Group sales 449.2 442.4 425.6 451.7 417.2 increased slightly yoy, as positive organic growth of 5.6% was 400 10 largely offset by negative FX effects of 5.0%
Slide 5: Sales split by region and customer segment
Sales split by region and customer segment Group sales split • EMEA strengthened its leading position, with revenue strongly (by region, by customer category) 12.0% 13.0% rising based on recovering trailer and truck OE demand in Europe EMEA • Continued weak CV markets in North America impacted Ameri
Slide 6: Recovery in EMEA drives topline and profitability
Recovery in EMEA drives topline and profitability EMEA sales Sales (in EUR mn) +7.9% • Sales increased strongly yoy, supported by solid demand in both OE 250 223.1 225.6 236.2 218.9 216.8 customer segments 200 10 • Hence, organic growth amounted to 8.0% yoy 150 100 5 • Market conditions remained sta
Slide 7: Resilient operating performance despite weak CV production rates
Resilient operating performance despite weak CV production rates Americas sales Sales (in EUR mn) -11.1% 200 176.4 12 • Sales declined yoy, reflecting weaker OEM demand in both truck 170.1 155.0 147.6 156.9 10 and trailer segments 150 8 • Organic development (-2.5% yoy) was mixed, with resilient 100
Slide 8: Significant organic growth drives topline despite substantial negative FX effects
Significant organic growth drives topline despite substantial negative FX effects APAC sales Sales (in EUR mn) +8.7% • APAC sales increased yoy, driven by significant organic growth of 58.6 22.1% 60 53.9 52.4 49.2 45.5 10 40 • Growth was supported in particular by recovery in the domestic Indian tra
Slide 9: Financials Q1 2026
02 Financials Q1 2026 Q1 2026 Call Presentation 9
Slide 10: EBIT to adjusted EBIT reconciliation for the Group
EBIT to adjusted EBIT reconciliation for the Group in EUR mn Q1 2026 Q1 2025 1 Reported EBIT improved due to higher topline resulting in slight margin improvement EBIT 1 36.9 35.9 2.8% 2 PPA amortization improved due to expiring depreciation from M&A EBIT margin in % 8.2 8.0 3 Restructuring and tran
Slide 11: Recovering topline and improved finance result drove earnings per share
Recovering topline and improved finance result drove earnings per share in EUR mn Q1 2026 Q1 2025 1 Finance result improved by EUR 10.1 mn EBIT 36.9 35.9 2.8% • PY was impacted by unrealized FX effects of EUR -5.8 mn Finance result 1 -5.2 -15.3 • FY exposure partially reduced by adjustment of interc
Slide 12: Solid balance sheet with almost stable equity ratio
Solid balance sheet with almost stable equity ratio Equity ratio (in %) • Compared to 31 December 2025, equity rose by 4.9% mainly due to the result for the period 30.8% 31.2% 29.5% 28.7% 29.6% 29.3% 28.5% 27.7% • Balance sheet total grew by 5.8% compared to 31 December 26.9% 2025 primarily due to t
Slide 13: Seasonal built-up of net working capital in line with annual target
Seasonal built-up of net working capital in line with annual target of 16-18% of sales Net working capital (in % of sales) • Usual built-up of net working capital at the beginning of the year 18.7% as well as driven by growing topline 18.2% 17.1% 16.5% • Structural different customer mix impacted de
Slide 14: Strong operational performance and favorable NWC development
Strong operational performance and favorable NWC development 1 Effective NWC management drove lower cash outflow compared in EUR mn Q1 2026 Q1 2025 to PY EBITDA 57.7 58.9 2 Capex amounted to 1.1% of Group sales during Q1 2026 Investments focused on further automation and modernization Change in net
Slide 15: Slightly improved leverage ratio
Slightly improved leverage ratio Net debt/EBITDA • Net debt/EBITDA ratio amounted to 2.2x at the end of March 2026 2.4 2.4 2.3 2.2 • Gross debt grew only moderately and was influenced by 2.0 1.9 1.9 1.9 • EUR 100 mn promissory note loan issued to improve 1.8 maturity profile in order to refinance ar
Slide 16: Outlook FY 2026 and key takeaways
03 Outlook FY 2026 and key takeaways Q1 2026 Call Presentation 16
Slide 17: 2026 Market outlook shows recovery trend in EMEA and APAC
2026 Market outlook shows recovery trend in EMEA and APAC Q1 2026 Q1 2026 FY 2026e FY 2026e Trailer market Truck market Trailer market Truck market EMEA ~ 15 to 20% 15% ~ 0 to +5% ~ +5 to +10% ~ 0 to +10% North America -12% -27% ~ -5 to +5% (previously: ~ -5 to +5%) ~ -10 to -5% ~ -10 to -5% Brazil
Slide 18: Outlook 2026
Outlook 2026 Group Group Sales FY 2025 FY 2026 • OE business to be driven by continued recovery trend in EMEA Results Outlook as well as in APAC • North America expected to show stabilization in overall CV EUR 1,700 mn production Sales EUR 1,734.4 mn – • Aftermarket expected to develop stable EUR 1,
Slide 19: Key takeaways
Key takeaways 1 Demand normalization in Europe and Asia-Pacific strengthened topline 2 Resilient adj. EBIT margin of 9.4% (PY: 9.5%) based on solid regional profitability 3 Strong operating free cash flow of EUR 44.8m, reflecting effective working capital management 4 Solid start into 2026 and well
Slide 20: Contact and additional information
04 Contact and additional information Q1 2026 Call Presentation 20
Slide 21: Investor relations contact & financial calendar
Investor relations contact & financial calendar Issuer & contact Financial calendar and roadshow activities SAF-HOLLAND SE Hauptstrasse 26 63856 Bessenbach May 7, 2026 Publication Quarterly Statement Q1 2026 Dana Unger May 21, 2026 Annual General Meeting Vice President Investor Relations, Corpor
Slide 22: 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