Saf Holland Se (SFHLF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to our conference call on our Q1 2026 results. Turning to the financial highlights for the first quarter in this year on page three, please. Here you can see that group sales reached around 452 million euro, representing an organic growth of 5.6% year over year and benefited from the recovery trend in EMEA as well as in APEC. However, the Americas region continued its weak momentum in both truck and trailer segments. As a result, this caused a negative regional mix effect in the first quarter, and overall profitability was nearly on par with the previous year, and the quarter closed with a solid adjusted EBIT margin of 9.4%, and the adjusted EBITDA margin was 13%. The operating free cash flow came in strongly with around €45 million, reflecting strict working capital management and, as said before, a solid organic growth. Leverage further improved to 2.2 times, mainly due to the strong cash performance. And in a nutshell, Q126 represents a solid start to the year and gives us confidence for the months ahead. On page four, you can see the development of group sales and adjusted EBIT development. During the first quarter, SF Holland benefited from the ongoing recovery in the European OE market, while APEC markets also recorded a clear sequential improvement. Against this backdrop, the group delivered solid organic revenue growth of 5.6%, demonstrating the strength of its regional and business mix. The aftermarket business continued to perform at a high and resilient level, providing stable support to overall revenues. While the foreign exchange effects created a headwind of around 5%, group sales reached 451.7 million euros in the first three months of the year, slightly exceeding the prior year level. And now turning to profitabilit...