Saf-holland Se · XETR:SFQ
Saf-holland — Q1 2025 Earnings Presentation
25 slides from Saf-holland's earnings presentation, May 8, 2025
Slide 1: Conference Call Presentation Q1 2025
CONFERENCE CALL PRESENTATION Q1 2025 Your partner wherever you drive Alexander Geis (CEO) & Frank Lorenz-Dietz (CFO) May 8, 2025 < 1 >
Slide 2: Strategic highlights Q1 2025
Strategic highlights Q1 2025 < 2 >
Slide 3: Q1 2025 Strategic highlights
Q1 2025 Strategic highlights New SAF-HOLLAND corporate strategy introduced SAF-HOLLAND acquired outstanding stake of 40% in Indian joint venture Haldex ANAND India Pvt. Ltd. Vision … to drive2030 Mission • Effective April 11, 2025 Be the most trusted Take the No.1 leadership role in the and reliable
Slide 4: Highlights and regional performance Q1 2025
Highlights and regional performance Q1 2025 Q1 2025 Call Presentation < 4 >
Slide 5: Q1 2025 Financial highlights
Q1 2025 Financial highlights Outlook Sales Outlook for fiscal year 2025 unchanged EUR 449.2 mn (PY: EUR 505.4 mn) Slowdown in OE demand partially offset by acquisition- related effects while AM stayed robust; organic decline of -14.0% Leverage Adj. EBIT margin 1.9x (Dec 2024: 1.9x) 9.5% (PY: 9.6%) S
Slide 6: Solid operating performance despite continued weak OE markets
Solid operating performance despite continued weak OE markets Group sales Sales (in EUR mn) • Acquisition-related sales contributed EUR 12.7 mn to Group 600 -11.1% 12 sales in Q1 (Tecma and Assali Stefen) 505.4 507.1 500 439.9 424.3 449.2 10 400 8 • Continued muted commercial vehicle markets resulte
Slide 7: Sales split by region and customer segment
Sales split by region and customer segment Group sales split (by region, by customer category) • EMEA region supported by additional acquisition- 12.6% 12.0% related growth from Tecma & Assali Stefen despite continued trailer and truck market weakness • Americas exposure was kept stable despite unce
Slide 8: EMEA sales continued to be impacted by weak trailer market
EMEA sales continued to be impacted by weak trailer market EMEA sales Sales (in EUR mn) -10.4% • Q1 2025 organic sales development amounted to -16.0% yoy 250 244.3 233.3 12 mainly due to the soft trailer market, while prior year quarter 218.9 still benefitted from a solid order book 202.6 202.7 200
Slide 9: Strong profitability and adj. EBIT despite weaker topline development
Strong profitability and adj. EBIT despite weaker topline development Americas sales Sales (in EUR mn) • Q1 2025 organic sales development amounted to -11.2% yoy 250 -10.7% 12 due to continued weak demand for trailer and truck 197.5 208.8 10 components also as a result of purchasing restraints due t
Slide 10: Solid profitability despite topline being impacted by softer Indian trailer market
Solid profitability despite topline being impacted by softer Indian trailer market APAC sales Sales (in EUR mn) • Q1 2025 organic sales were -14.8% below PY and were negatively driven by the trailer OE business in India as a result of the general economic slowdown and trade-related uncertainties, lo
Slide 11: Financials Q1 2025
Financials Q1 2025 Q1 2025 Call Presentation < 11 >
Slide 12: EBIT to adjusted EBIT reconciliation for the Group
EBIT to adjusted EBIT reconciliation for the Group in EUR mn Q1 2025 Q1 2024 EBIT 1 35.9 43.4 -17.3% 1 Reported EBIT influenced by lower topline development and continued depreciation and EBIT margin in % 8.0 8.6 amortization burden Additional depreciation & 5.9 5.2 2 Restructuring and transaction c
Slide 13: Topline slowdown and unfavorable FX development were impacting EPS
Topline slowdown and unfavorable FX development were impacting EPS in EUR mn Q1 2025 Q1 2024 EBIT 35.9 43.4 -17.3% 1 Finance result declined by EUR 9.1 mn mainly based on an unfavorable development of Finance result 1 -15.3 -6.2 unrealized FX-rate gains and losses on EBT 20.6 37.2 intercompany loans
Slide 14: Finance result impacted by unrealized FX valuation effects
Finance result impacted by unrealized FX valuation effects in EUR mn Q1 2025 Q1 2024 Financial result -15.3 -6.2 • Action plan implemented to mitigate unrealized FX valuation Thereof interest expenses due to interest bearing loans -8.1 -8.5 effects including restructuring of Thereof unrealized FX ga
Slide 15: Equity ratio improved to 31.2%
Equity ratio improved to 31.2% • Compared to 31 December 2024, equity rose by 2.3% mainly due to the 36.8% 37.3% result for the period 32.2% 31.2% 30.8% 29.5% 28.6% 29.5% 28.5% 28.7% • Balance sheet total grew by 1.1% 27.2% 27.5% 25.7% compared to 31 December 2024 primarily due to the seasonally bui
Slide 16: 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 16.5-18.0% of sales Net working capital (in % of sales) • Usual built-up of net working 17.4% capital at the beginning of the 16.9% 15.9% 16.5% 16.4% year 15.6% 15.4% 15.8% • Compared to March 2024, 15.7% 15.5% NWC improved by 11
Slide 17: Strong operational performance and favorable NWC development
Strong operational performance and favorable NWC development in EUR mn Q1 2025 Q1 2024 1 Lower cash outflow from changes in net EBITDA 58.9 63.8 working capital compared to PY Change in Net Working Capital 1 -27.7 -43.6 2 Capex amounted to 1.9% of Group sales during Taxes paid -8.4 -12.9 Q1 2025 Inv
Slide 18: Stable leverage ratio and improved debt profile
Stable leverage ratio and improved debt profile Net debt/EBITDA • Net debt/EBITDA ratio amounted to 1.9x at 2.6 the end of March 2025 2.5 2.4 • Slight increase in net debt compared to year- 2.1 2.0 end 2024 due to refinancing activities 1.9 1.9 1.9 1.9 1.8 1.7 • Repayment of due tranche of a 1.6 pro
Slide 19: Outlook FY 2025 and key takeaways
Outlook FY 2025 and key takeaways Q1 2025 Call Presentation < 19 >
Slide 20: 2025 Market outlook for North America and India adjusted for higher uncertainty
2025 Market outlook for North America and India adjusted for higher uncertainty Q1 2025 Q1 2025 FY 2025e FY 2025e Trailer Market Truck Market Trailer Market Truck Market EMEA ~ -25 to -30% ~ -10 to -15% +/- 0% 0 to +5% -10 to -20% -10 to -20% North America -25% -17% (previously: -5 to -10%) (previou
Slide 21: Outlook 2025
Outlook 2025 Group Group Sales FY 2024 FY 2025 • For EMEA and North America, first half year expected to Results Outlook remain weak for trucks and trailers • Recovery expected within second half of 2025 for EMEA as well as trailers in North America Sales EUR 1,876.7 mn EUR 1,850 mn – EUR 2,000 mn •
Slide 22: Key takeaways
Key takeaways 1 Topline driven by soft OE market environment but aftermarket business continued to develop robust 2 Solid profitability with an even improved adj. EBITDA margin of 13.3% (PY: 12.6%) 3 Solid operating free cashflow generation of EUR +8.2 mn and reduced financial debt 4 SAF-HOLLAND wel
Slide 23: Contact and additional information
Contact and additional information Q1 2025 Call Presentation < 23 >
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 May 8, 2025 Publication Quarterly Statement Q1 2025 Dana Unger May 20, 2025 Annual General Meeting Vice President Investor Relations, Corpo
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