SAF-Holland (SFQ) Q2 2026 earnings summary

Executive summary

• Q2 2026 group sales rose 2.6% year-over-year to EUR 454 million, with H1 sales up 1.6% to EUR 905.7 million, driven by EMEA and APAC strength and resilient aftermarket business.

• Adjusted EBIT margin improved to 9.6% in Q2 and 9.5% in H1, with adjusted EBITDA margin at 13.2%, reflecting operational efficiency.

• Net income attributable to shareholders increased 75% year-over-year to EUR 42 million; adjusted EPS rose to EUR 1.24.

• Operating free cash flow surged to EUR 65.8 million in H1 and EUR 21 million in Q2, supported by improved working capital management.

• FY 2026 outlook confirmed, with continued growth and profitability expected.

Financial highlights

• Q2 2026 sales reached EUR 454 million, up from EUR 442.4 million in Q2 2025; H1 sales at EUR 905.7 million.

• Adjusted EBIT was EUR 43.4 million in Q2 and EUR 85.9 million in H1; adjusted EBIT margin at 9.6% in Q2 and 9.5% in H1.

• Adjusted EBITDA reached EUR 59.8 million in Q2 and EUR 117.5 million in H1; EBITDA margin at 13.2% in Q2 and 13.0% in H1.

• Basic EPS doubled to EUR 0.48 in Q2; adjusted EPS at EUR 0.63 in Q2 and EUR 1.24 in H1.

• Equity ratio at 29.1% at end of June 2026.

Outlook and guidance

• FY 2026 sales guidance confirmed at EUR 1,700–1,850 million, with adjusted EBIT margin forecast at 9–10%.

• EMEA and APAC expected to show positive trends; North America to gradually recover in H2.

• Capital expenditure ratio planned up to 3% of group sales.

• Market outlook: EMEA trailer and truck markets +5% to +10%; North America -5% to +5% for trailers, 0% to +10% for trucks.

• Guidance remains conservative due to fewer working days in H2 and ongoing market uncertainties.