Alexander Geis
CEO & Chairman of Management Board
Good morning, everyone, and welcome to our conference call on our Q1 2026 results. Turning to the financial highlights for the first quarter in this year on Page 3, please. Here, you can see that group sales reached around EUR 452 million, representing an organic growth of 5.6% year-over-year and benefited from the recovery trend in EMEA as well as in APAC. However, the Americas region continued its weak momentum in both truck and trailer segments. As a result, this caused a negative regional mix effect in the first quarter. And overall, profitability was nearly on par with the previous year, and the quarter closed with a solid adjusted EBIT margin of 9.4% and the adjusted EBITDA margin was 13%. The operating free cash flow came in strongly with around EUR 45 million, reflecting strict working capital management and, as said before, a solid organic growth. Leverage further improved to 2.2x, mainly due to the strong cash performance. And in a nutshell, Q1 ’26 represents a solid start to the year and gives us confidence for the months ahead.
On Page 4, you can see the development of group sales and adjusted EBIT development. During the first quarter, SAF-Holland benefited from the ongoing recovery in the European OE market, while APAC markets also recorded a clear sequential improvement. Against this backdrop, the group delivered solid organic revenue growth of 5.6%, demonstrating the strength of its
