SAF-HOLLAND Achieves Record Sales in 2023, Annual Meeting Endorses All Items

SAF-HOLLAND SE, a prominent supplier of trailer and truck components, concluded its 2024 Annual General Meeting with resounding success. Shareholders approved all proposed items, including a significant dividend increase to €0.85 per share and the confirmation of all Supervisory Board members.

CEO Alexander Geis highlighted the company's robust performance despite challenging geopolitical and macroeconomic conditions in 2023. Group sales saw a substantial rise of 34.6% to €2.1 billion, with the adjusted EBIT margin improving from 8.0% to 9.6%. The acquisition of Haldex notably boosted the aftermarket business.

For Q1 2024, SAF-HOLLAND reported a 5.2% increase in sales to €505.4 million and maintained an adjusted EBIT margin of 9.6%. Geis expressed optimism for the rest of the year, citing the business model's resilience.

With a 61.1% attendance rate, the meeting also approved proposals to increase share capital and issue various bonds. The Supervisory Board, chaired by Dr. Martin Kleinschmitt, was confirmed in office until 2028.