EQS-Adhoc: SAF-HOLLAND SE adjusts sales forecast due to less strong demand expectations

SAF-HOLLAND adjusts sales forecast due to less strong demand expectations

Bessenbach (Germany), November 3, 2025. SAF-HOLLAND SE ("SAF-HOLLAND") adjusts its sales forecast for fiscal year 2025 based on updated expectations for the rest of the year.

In the North American truck market, an important market for the Group, the business environment has continued to deteriorate in recent months. The main reason for this is the ongoing uncertainty resulting from the US tariff policy, which has led to a noticeable reluctance to buy.

In the APAC region, too, the market recovery is less positive than expected. The reluctance of customers with end users in the US is having a particularly negative impact on business in India and Southeast Asia (especially Vietnam and Thailand). In contrast, demand in the Indian domestic market for trailers has been moderately positive in recent months.

In the European trailer market, the positive order momentum from the second quarter has not continued recently.

In addition, negative currency effects continue to weigh on sales development. Against this background, the Management Board now expects Group sales for fiscal year 2025 to be between EUR 1,700 million and EUR 1,750 million (previously: around EUR 1,800 million).

Expectations regarding the adjusted EBIT margin* of around 9.3% and the investment ratio* of up to 3.0% of Group sales remain unchanged.

The adjusted sales forecast is subject to stable exchange rates and further macroeconomic and geopolitical developments, as well as other significant changes such as adjustments to the United States-Mexico-Canada Agreement (USMCA).

According to preliminary results, SAF-HOLLAND saw a sales decline of 9.9% to EUR 1,308.8 million in the first nine months of 2025 (previous year: EUR 1,452.5 million), as expected, due to continued weak customer demand in the original equipment business. In organic terms – i.e., adjusted for currency and acquisition effects – Group sales declined by EUR 141.0 million or 9.7% in the period from January to September 2025. Currency fluctuations had an additional negative impact of -1.8%.

Adjusted EBIT* fell by 17.1% to EUR 121.1 million (previous year: EUR 146.1 million), mainly due to lower sales. At 9.3% (previous year: 10.1%), the adjusted EBIT margin* was in line with the annual forecast. The adjusted EBITDA margin of 13.1% was almost at the previous year’s level (13.3%). Additionally, higher procurement costs in the high single-digit million-euro range as a result of the US trade policy had a negative impact on earnings. These are expected to be largely offset by countermeasures such as targeted price adjustments in the coming months.

After a subdued performance in the second quarter, SAF-HOLLAND recorded a significant improvement in free operating cash flow* in the third quarter 2025. This rose sequentially to EUR 38.5 million after EUR 0.9 million in the second quarter of 2025, almost reaching the previous year's level of EUR 42.4 million (Q3 2024).

The quarterly statement as of September 30, 2025 will be published on November 13, 2025 at:

https://corporate.safholland.com/en/investor-relations/publications

The parameters marked with an asterisk (*) are alternative performance measures. A definition of these terms can be found in the Annual Report 2024 on page 311 and following. This is available at

https://corporate.safholland.com/fileadmin/user_upload/Corporte_Website/Investor_Relations/Financial_Reports/2025/English/SAF-HOLLAND_SE_Annual_Report_2024.pdf