SAF-HOLLAND Annual Sales Decline

(RTTNews) - SAF-HOLLAND SE (SFQ.F) on Thursday reported slightly lower results for fiscal 2024. The company also provided outlook for the next year.

It also extended the appointment of Chief Financial Officer Frank Lorenz Dietz by an additional three years until December 31, 2028.

For the full year, the German company's result was 77.35 million euros, down 3.2 percent from 79.93 million euros recorded last year. Earnings came in at 1.70 euros per basic share, a 3.2 percent decline from 1.76 euros per basic share a year ago.

Adjusted for certain items, result for the period was 110.13 million euros or 2.43 euros per share, down 7.1 percent from last year's 118.49 million euros or 2.61 euros per share.

The company, which makes trailer and truck components, revealed a 11 percent decline in sales to 1.88 billion euros from 2.11 billion euros in the prior-year. Sales were impacted by weak customer demand in the Original Equipment segment, particularly in the EMEA and Americas regions.

SAF-HOLLAND plans to pay an unchanged dividend of 0.85 euro per share for fiscal 2024 at the AGM to be held on May 20.

Looking ahead, the company expects consolidated sales in the range of 1.85 billion euros and 2.00 billion euros for fiscal 2025. This includes positive acquisition-related sales contributions of around 25 million euros.

SAF-HOLLAND expects an adjusted EBIT margin in the range of 9 percent to 10 percent for fiscal 2025. This is higher than last year's 10.1 percent.

The company said the core markets of EMEA and North America, the trailer and truck markets are expected to remain weak in the first half of 2025 and recovery is expected only in the second half. Growth is expected in the APAC region, driven in particular by the Indian market. According to current estimates, the aftermarket business is expected to remain stable, SAF-HOLLAND added.

It also said Supervisory Board has extended the appointment of Chief Financial Officer Frank Lorenz Dietz by an additional three years until December 31, 2028.

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