EQS-News

SAF-HOLLAND SE with record year and significantly increased dividend proposal - Seite 4

 

Alexander Geis, CEO of SAF-HOLLAND SE: "In the past year we grew substantially not only due to the acquisition of Haldex, but also driven by the continued strong demand for our products and solutions. We have set new records in terms of both sales and profitability. Those will enable us to face the challenges of tomorrow with greater strength based on our resilient business model."

 

Outlook for the 2024 fiscal year

In the outlook for the current fiscal year 2024, the Management Board assumes that demand for components for commercial vehicles will vary from region to region in 2024. Targeted market share gains are unlikely to fully compensate for the negative effects of the market slowdown in the core markets of EMEA and North America. In contrast, the aftermarket business is currently expected to remain stable to slightly positive based on the increased population from the original equipment deliveries of previous years. Overall, the Management Board expects the SAF-HOLLAND Group to generate Group sales of around EUR 2,000 million in fiscal year 2024 (previous year: EUR 2,106.2 million) based on stable exchange rates.

 

It is expected that the lower sales volumes as well as increased wage, IT and freight costs will affect profitability in 2024. In contrast, SAF-HOLLAND plans to partially offset the negative effects with a cost structure adapted to the order situation, efficiency improvements and the realization of further synergy potential from the integration of Haldex. In addition, the increased share of the aftermarket business should have a positive effect on margin development. Overall, the Management Board anticipates an adjusted EBIT margin for the Group of between 9.0% and 9.5% (previous year: 9.6%).

 

To achieve its medium and long-term growth targets and to position the company for the future in terms of its products, the Group is planning an investment ratio of up to 3% of consolidated sales for the 2024 fiscal year (previous year: 2.9%).

 

 

Contact:

Dana Unger      

VP Investor Relations, Corporate & ESG Communications

Tel: [phone]

[e-mail]