SAF-HOLLAND SE: Annual General Meeting resolves dividend of EUR 0.35 per share
Bessenbach, May 20, 2022. SAF-HOLLAND SE ("SAF-HOLLAND"), one of the world's leading suppliers of trailer and truck components, successfully completed its Annual General Meeting 2022 yesterday. Due to the pandemic situation, which is very difficult to forecast, the Management Board and Supervisory Board had decided at the time of convening the Annual General Meeting to hold it virtually without the physical presence of shareholders in Frankfurt am Main. Registered shareholders were able to follow the AGM via a livestream on the shareholder portal and exercise their shareholder rights. For the first time, a public broadcast of the opening of the Annual General Meeting and the speech by the Chairman of the Management Board of SAF-HOLLAND SE, Alexander Geis, was made via the company's website.
Alexander Geis looked back on the past year in his speech and said: "The 2021 business year was further influenced by the COVID-19 pandemic and presented us with many challenges. Thanks to our proactive health management, we have been very successful in protecting the health of our workforce and minimising any potential impact on our production. The year 2021 was also marked by tense supply chains and massive price increases for steel, freight and energy. Nevertheless, we managed to increase Group sales by 30 % to a good EUR 1.25 billion, adjusted EBIT by 58 % and unadjusted result for the period by 160 % to EUR 37 million.
With a view to the business development in the first quarter of 2022, the focus topics of the Management Board and the outlook for the 2022 financial year, Alexander Geis said: "In terms of sales, we have had a very good start to the year. With sales of EUR 370 million, the first quarter of 2022 was the best in the company's history. On the margin side, the EMEA region in particular suffered from high steel prices, energy and logistics costs. The adjusted EBIT margin for the Group was a satisfactory 6.4 %. Based on the figures for the first quarter of 2022, we have raised the forecast for Group sales and specified the forecast for the adjusted EBIT margin. We now expect sales of between EUR 1.2 billion and EUR 1.35 billion and an adjusted EBIT margin between 6.5% and 7.0%. The investment ratio will be between 2 % and 2.5 %. Our management focus this year is on portfolio optimisation and growth, further development of the ESG strategy, capital allocation and operational excellence."
With a registration rate of around 58%, the Annual General Meeting of SAF-HOLLAND SE once again met with very pleasing interest. The shareholders approved all of the resolutions proposed by the Management Board and the Supervisory Board with a very large majority. Among other things, they approved the proposed resolutions on the discharge of the Management Board and the Supervisory Board and the appointment of the auditor for the 2022 financial year.
The shareholders of SAF-HOLLAND SE also approved the proposed distribution of a dividend of EUR 0.35 per no-par value share. This corresponds to a payout ratio of around 43% and is thus in line with SAF-HOLLAND SE's earnings-oriented dividend policy, which generally provides for a payout of 40% to 50% of the attributable result for the period. The dividend yield in relation to the 2021 closing price is 2.8 %.
The voting results of the Annual General Meeting 2022 and all accompanying documents can be viewed on the website of SAF-HOLLAND SE in the Investor Relations section under the item Annual General Meeting:
Head of Investor Relations, Corporate and ESG Communications
Tel: +49 (0) 6095 301 918
SAF-HOLLAND SE is a leading international manufacturer of chassis-related assemblies and components for trailers, trucks and buses. The product range includes, among other things, axle and suspension systems for trailers as well as fifth wheels for trucks and coupling systems for trucks, trailers and semi-trailers. In addition, SAF-HOLLAND develops innovative products to increase the efficiency, safety and environmental friendliness of commercial vehicles. The focus here is on the digitalization and networking of trailers as well as the electrification of axles. The products and solutions are marketed under the brands SAF, Holland, V.Orlandi, TrailerMaster, Neway, KLL and York. SAF-HOLLAND supplies original equipment to vehicle manufacturers on six continents. In the aftermarket business, the company supplies spare parts to the manufacturers' service networks as well as to wholesalers and, through an extensive global distribution network, to end customers and service centers. Around 3,600 dedicated employees worldwide are already working on the future of the transport industry. SAF-HOLLAND shares have been listed in the Prime Standard of the German Stock Exchange since 2007 and are part of the SDAX selection index. For further information, please visit: www.safholland.com.
This press release contains forward-looking statements based on assumptions and estimates made by the Management Board of SAF-HOLLAND SE. These statements can be identified by wording such as "expect", "want", "anticipate", "intend", "plan", "believe", "strive", "estimate", and "will" or similar terms. Although we assume that the expectations contained in these forward-looking statements are realistic, we cannot guarantee that they will prove to be correct. These assumptions may contain risks and uncertainties that could cause the actual figures to differ considerably from the forward-looking statements. Factors that can cause such discrepancies include changes in the macroeconomic and business environment, changes in exchange rates and interest rates, the introduction of products that compete with our own products, a lack of acceptance of new products or services, and changes in corporate strategy. SAF-HOLLAND does not intend to update these forward-looking statements, nor does it assume any responsibility to do so.
This press release includes supplementary financial indicators that either are or may be so-called alternative performance indicators that are not clearly defined in the relevant financial reporting framework. In assessing the financial position and performance of SAF-HOLLAND, these supplementary financial indicators should not be used in isolation or as an alternative to those presented in the consolidated financial statements and determined in accordance with the relevant financial reporting framework. Other companies that present or report alternative performance indicators with similar names may calculate them differently. Explanations of the key financial figures used are available in the Annual Report of SAF-HOLLAND SE.
Due to rounding, some of the figures presented in this press release as well as in other reports may not add up exactly to the stated totals and percentages presented may not accurately reflect the absolute values to which they relate.
This announcement is for information purposes only and does neither constitute an offer to sell, purchase, exchange or transfer any securities nor a solicitation of any offer to sell, purchase, exchange or transfer any securities. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. SAF-HOLLAND SE does not intend to register any securities referred to herein under the Securities Act or with any securities regulatory authority of any state or other jurisdiction in the United States in connection with this announcement.
Head of Investor Relations, Corporate and ESG Communications
Phone +49 6095 301-918
20.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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