SAF-HOLLAND SE

SFQ

Equity

ISIN DE000SAFH001 / Valor 55990017

Xetra (2024-12-23)

EUR 14.68-0.94%

SAF-HOLLAND SE
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About company

SAF-HOLLAND SE is a leading international manufacturer of chassis-related systems and components for the commercial vehicle industry. The company's product range includes axle and suspension systems, fifth wheels, coupling systems, kingpins, and landing gear, which are marketed under various well-known brands. SAF-HOLLAND serves original equipment manufacturers (OEM) on six continents and collaborates closely with fleet operators and trucking companies to provide innovative solutions and service packages aimed at minimizing operating costs. In addition to its OEM business, the company also operates in the Aftermarket segment, supplying spare parts to manufacturers' service networks, wholesalers, and end customers through a global sales network to ensure fast provision of spare parts and reduced downtimes.

Summarized from source with an LLMView SourceSector: Finance

Group Sales

SAF-HOLLAND SE reported group sales of EUR 1,012.5 million for the first half of 2024, a 2.3% decrease from the previous year's EUR 1,036.1 million. This decline was primarily due to a market slowdown in the original equipment business in the EMEA and Americas regions, despite acquisition effects and a resilient aftermarket business.

Adjusted EBIT Margin

The company significantly improved its adjusted EBIT margin to 10.2% in the first half of 2024, up from 9.1% in the previous year. This improvement was driven by a higher share of sales from the aftermarket business and cost-cutting measures, particularly in the EMEA and Americas regions.

Result for the Period

SAF-HOLLAND SE's result for the period increased by 35.6% to EUR 50.7 million in the first half of 2024, compared to EUR 37.4 million in the previous year. This increase was supported by a lower group tax rate, which decreased from 34.5% to 29.2%.

Operating Free Cash Flow

The company generated a strong operating free cash flow of EUR 44.3 million in the first half of 2024, up from EUR 30.5 million in the previous year. This improvement was mainly due to a significant increase in earnings before taxes, which rose by EUR 14.5 million to EUR 71.6 million.

Annual Forecast

SAF-HOLLAND SE confirmed its raised annual forecast for the adjusted EBIT margin, expecting it to be around 10% for the 2024 fiscal year. The company continues to anticipate group sales of around EUR 2,000 million for the year, despite weaker economic conditions.

Summarized from source with an LLMView Source

Key figures

-3.42%1Y

19.6%3Y

102%5Y

Performance

31.9%1Y

38.4%3Y

41.5%5Y

Volatility