Corrected: Germany's SAF-Holland Q2 sales rise, driven by EMEA, APAC region
CORRECTED-Germany's SAF-Holland Q2 sales rise, driven by EMEA, APAC region Corrects reporting period in Key Details table to H1 from Q2 for adjusted EPS, net income and adjusted EBIT metrics
Overview
Germany trailer and truck components maker's Q2 sales rose 2.6% yr/yr
Adjusted EPS for first half climbed 47.6% yr/yr
Operating free cash flow surged, supported by strong earnings and lower net working capital outflows
Outlook
SAF-HOLLAND confirms 2026 group sales guidance of EUR 1.7 bln to EUR 1.85 bln
Company maintains 2026 adjusted EBIT margin forecast of 9% to 10%
SAF-HOLLAND expects capital expenditure ratio of up to 3% of group sales in 2026
Result Drivers
EMEA AND APAC SALES - Co said sales growth was driven by higher sales in EMEA and APAC, with APAC boosted by trailer demand in India and Australia
EFFICIENCY MEASURES - Co attributed improved EBIT margin to economies of scale, efficiency gains and cost structure improvements
CASH FLOW IMPROVEMENT - Co said higher operating free cash flow was mainly due to strong operating earnings and lower net working capital outflow
Company press release: ID:nEQ3W7T8Fa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales | Slight Beat* | EUR 454 mln | EUR 450 mln (1 Analyst) |
H1 Adjusted EPS |
| EUR 1.24 |
|
H1 Net Income |
| EUR 42 mln |
|
H1 Adjusted EBIT |
| EUR 85.90 mln |
|
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the auto, truck & motorcycle parts peer group is "buy"
Wall Street's median 12-month price target for Saf-Holland Se is €21.25, about 1.2% above its August 5 closing price of €21.00
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 8 three months ago
Reuters Recommended Reads
Aug 3 - Commercial Vehicle Group Q2 revenue beats estimates; 2026 outlook lifted
Aug 4 - Core Molding Q2 production revenue falls 1.2% on weak truck demand
Aug 6 - Germany's Aumovio holds forecast, warns challenging auto market conditions will persist
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)