EQS-News: SAF-HOLLAND looks back on a successful fiscal year 2023 – Annual General Meeting approves all agenda items
SAF-HOLLAND looks back on a successful fiscal year 2023 – Annual General Meeting approves all agenda items
- Significant dividend increase to EUR 0.85 per share approved
- All members of the Supervisory Board confirmed in office
Bessenbach (Germany), June 11, 2024. SAF-HOLLAND SE ("SAF-HOLLAND"), one of the world's leading suppliers of trailer and truck components, today successfully completed its 2024 Annual General Meeting in Lohr am Main.
In his report to the shareholders, Alexander Geis, CEO of SAF-HOLLAND SE, said: "The geopolitical and macroeconomic conditions were not easy in fiscal year 2023 either. The war in Ukraine, the conflicts in the Middle East and the high inflation rates presented us with major challenges. Despite this, we achieved new record figures for both Group sales and profitability, significantly exceeding the forecast figures we set in March 2023. We increased Group sales by 34.6% to EUR 2.1 billion and at the same time improved the adjusted EBIT margin from 8.0% to 9.6%. The significant increase in the share of the aftermarket business following the acquisition of Haldex played a major role in this."
Looking at the business performance in the first quarter of 2024 and the outlook for the 2024 fiscal year, Alexander Geis said: "With sales growth of 5.2% to EUR 505.4 million and an adjusted EBIT margin of 9.6%, we have made a successful start to the new fiscal year. The figures for the first quarter of 2024 have impressively demonstrated the robustness of our business model with its strong aftermarket business and pronounced ability to adjust costs even in a weaker market environment. We are therefore optimistic about the rest of the year."
With an attendance rate of 61,1% of the share capital, the Annual General Meeting of SAF-HOLLAND SE once again met with a very pleasing level of interest. The shareholders approved all the resolutions proposed by the administration, including the Management Board's and Supervisory Board’s proposal to distribute a dividend of EUR 0.85 per share. This corresponds to a payout ratio of 48.3% and is thus at the upper end of the corridor of SAF-HOLLAND SE's earnings-oriented dividend policy, which generally provides for a payout of 40% to 50% of the attributable profit for the period. In addition, the authorization to increase the share capital and to issue convertible bonds, bonds with warrants and/or participation bonds was granted and all incumbent members of the Supervisory Board were confirmed in office until the Annual General Meeting in 2028. Following the Annual General Meeting, Dr. Martin Kleinschmitt was re-elected as Chairperson of the Supervisory Board.
The voting results of the 2024 Annual General Meeting together with all accompanying documents can be viewed on the SAF-HOLLAND SE website in the Investor Relations section under Annual General Meeting.
https://corporate.safholland.com/en/investor-relations/general-meeting/annual-general-meeting/2024
Contact:
Dana Unger
VP Investor Relations, Corporate & ESG Communications
Tel: +49 6095 301 949
Alexander Pöschl
Senior Manager Investor Relations, Corporate & ESG Communications
Tel: +49 6095 301 117
alexander.poeschl@safholland.de
Michael Schickling
Senior Manager Investor Relations, Corporate & ESG Communications
Tel: +49 6095 301 617
michael.schickling@safholland.de
About SAF-HOLLAND
SAF-HOLLAND SE is a leading international manufacturer of chassis-related assemblies and components for trailers, trucks, and buses. With its around 6,000 dedicated employees worldwide, the company generated sales of EUR 2.11 billion in 2023.
The product range includes axle and suspension systems for trailers as well as fifth wheels and coupling systems for trucks, trailers, and semi-trailers as well as brake and EBS systems. In addition, SAF-HOLLAND also develops innovative products to increase the efficiency, safety, and environmental friendliness of commercial vehicles. With the brands SAF, Holland, Haldex, V.Orlandi, Neway, KLL and York, the Group achieved strong market positions in the top three positions in the most important regions worldwide in 2023. SAF-HOLLAND supplies manufacturers in the original equipment market on six continents. In the aftermarket business, the company supplies spare parts to manufacturers’ service networks and wholesalers as well as to end customers and service centers via an extensive global distribution network.
SAF-HOLLAND SE is listed in the Prime Standard of the Frankfurt Stock Exchange and is included in the SDAX (ISIN: DE000SAFH001). Further information is available at www.safholland.com.