SAF-HOLLAND SE Increases Outlook for Adjusted EBIT Margin for 2024 Fiscal Year

SAF-HOLLAND SE has revised its outlook for the adjusted EBIT margin for the 2024 fiscal year. The company now anticipates an adjusted EBIT margin of around 10%, up from the previous estimate of 9.0% to 9.5%. This new projection surpasses analysts' expectations, which stood at 9.3%.

From January through May 2024, the improved financial outlook was driven by a favorable product mix and a higher share of aftermarket business. Early cost adjustments in response to market normalization in the EMEA and Americas regions, along with synergies from the Haldex acquisition, also helped boost profitability. As a result, the second-quarter profitability is expected to range between 10.5% and 11.0%, compared to 9.1% in the same period last year.

The forecasts for Group sales and capex ratio, as published on March 14, 2024, remain unchanged. SAF-HOLLAND SE will release its Half-Year Financial Report on August 8, 2024, alongside a conference call for institutional investors and analysts.