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< 1 > Your partner wherever you drive CONFERENCE CALL PRESENTATION Q3 2025 Alexander Geis (CEO) & Frank Lorenz-Dietz (CFO) November 13, 2025
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< 2 >Q3 2025 Call Presentation Highlights and regional performance Q3 2025
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< 3 >Q3 2025 Call Presentation Q3 2025 Financial highlights Outlook Sales outlook for fiscal year 2025 adjusted Leverage 2.4x (Dec 2024: 1.9x) Leverage impacted by additional lease liabilities and lower absolute EBITDA Operating FCF EUR 38.5 mn (PY: 42.4 mn) NWC influenced by prudent management amid tariff-related uncertainties and aftermarket business Adj. EBITDA margin 13.2% (PY: 13.5%) Resilient operating profitability Adj. EBIT margin 9.1% (PY: 9.8%) Lower fixed-cost absorption and tariff-related effects impacted profitability Sales EUR 417.2 mn (PY: EUR 439.9 mn) Only slight organic decline of 2.5% despite weakness in OE
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< 4 >Q3 2025 Call Presentation Resilient profitability despite market softness and tariff effects Sales • Subdued demand in the commercial vehicle markets led to a slight organic decline in sales of 2.5% yoy in Q3 2025 • OE sales declined by 6.9% yoy in Q3 2025 while aftermarket business developed healthy • The Assali Stefen acquisition contributed a low single-digit Euro-million amount to Group sales in Q3, while FX effects reduced growth by 3.3%-points • Q1-Q3 2025 organic sales were 9.7% below PY Group sales (in EUR mn) Group adj. EBIT and margin (in EUR mn and %) Adj. EBIT and margin • Adj. EBIT in Q3 was impacted by a lower fixed-cost absorption as well as additional tariff expenses (low single-digit Euro- million amount), which are expected to be fully offset by price adjustments in the coming months • In addition, profitability was strongly supported by continued strict cost discipline, synergies from the Haldex integration and a favorable mix effect 0 5 10 15 0 50 100 150 200 13.5 9.8 Q3 15.2 10.5 Q4 13.3 9.5 Q1 12.8 9.1 Q2 13.2 9.1 Q3 43.3 44.4 42.7 40.3 38.1 0 2 4 6 8 10 12 0 200 400 600 800 1,000 Q3 Q4 Q1 Q2 Q3 439.9 424.3 449.2 442.4 417.2 -5.2% 2024 2025 2024 2025 73.1 73.1 1,452.5 1,308.8 -9.9% Q1-Q3 73.1 77.1 2024 2025 0 5 10 15 0 50 150 250 300 350 13.3 10.1 13.1 9.3 146.1 121.1 Q1-Q3 2024 2025 Adj. EBITDA margin Adj. EBIT margin
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< 5 >Q3 2025 Call Presentation 48.1% 11.0% 40.9% Sales split by region and customer segment Group sales split (by region, by customer category) • EMEA benefitted from increased demand of trailer and truck customers while aftermarket business performed robust • Americas performance was influenced by investment caution amid US tariff discussions and cyclical softness in truck and trailer markets in addition to FX headwinds • Demand in APAC was impacted among others by tariff- related investment hesitancy of ASEAN trailer manufacturers as well as by FX headwinds • Soft commercial vehicle markets globally resulted in total OEM sales of EUR 246.7 mn (-6.9% yoy) • Aftermarket business continued to develop robust and benefitted from strong OE sales in previous years 46.0% 40.8% 13.2% EMEA Americas APAC 52.0% 37.1% 10.9% Q3 2025Q3 2024 47.1% 13.2% 39.7% Trailer OE Truck OE Aftermarket Q3 2025Q3 2024
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< 6 >Q3 2025 Call Presentation Solid performance with margin improvement & resilient aftermarket business Sales • Due to slightly improving order behavior until September, Q3 2025 organic sales grew by 5.6% yoy • Assali Stefen further strengthened sales and contributed a low single-digit Euro-million amount in Q3 • Robust aftermarket business provided reliable support • Q1-Q3 2025 organic sales were -7.0% below PY , in line with market development EMEA sales (in EUR mn) EMEA adj. EBIT and margin (in EUR mn and %) Adj. EBIT and margin • Supported by slightly stronger topline, adj. EBIT margin rose slightly to 8.2%, reflecting improved fixed-cost absorption from higher utilization as well as strict cost discipline • Adj. EBIT showed solid development between January and September 2025, despite negative FX valuation effects in Q1, leading to an adj. EBIT margin of 7.8% -5 0 5 10 15 0 20 40 60 80 8.1 Q3 10.1 Q4 7.5 Q1 7.9 Q2 8.2 Q3 16.4 20.4 16.4 17.5 17.7 0 2 4 6 8 10 12 0 100 200 300 400 Q3 Q4 Q1 Q2 Q3 202.6 202.7 218.9 223.1 216.8 +7.0% 73.1 73.1 680.1 658.7 -3.1% Q1-Q3 73.1 77.1 2024 2025 -2 0 2 4 6 8 10 12 0 20 40 60 80 100 120 8.3 7.8 56.7 51.7 Q1-Q3 2024 2025 2024 2025 2024 2025
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< 7 >Q3 2025 Call Presentation Trade-related uncertainties while aftermarket continues to be strong Sales • Q3 2025 organic sales were 7.9% below the PY , mainlydue to purchasing restraints linked to the US trade policy uncertainties, partially offset by the strength of the aftermarket business; FX effects led to a 5.7% yoy decline in sales • While new tariff announcements on trucks had a dampening effect on customer demand compared to H1 2025, the aftermarket business continued to show strong momentum • Q1-Q3 2025 sales organically declined by 10.9% and performed slightly better than the market, FX effects led to a sales decline of 3.4% Americas sales (in EUR mn) Americas adj. EBIT and margin (in EUR mn and %) 10.121.0 25.5 Adj. EBIT and margin • Adj. EBIT reflects market softness and increased depreciation from the strategic investment in the new Rowlett plant, which will support future growth and efficiency • Moreover, additional tariff-related costs were negatively impacting regional performance by a low single-digit Euro- million amount are expected to be fully offset by price adjustments in the coming months 20.0 17.920.0 17.925.520.1 0 2 4 6 8 10 12 0 100 200 300 400 Q3 Q4 Q1 Q2 Q3 179.4 161.6 176.4 170.1 155.0 -13.6% 0 20 40 60 80 0 5 10 11.1 Q3 11.0 Q4 11.4 Q1 10.2 Q2 10.0 Q3 20.0 17.9 20.1 17.4 15.5 73.1 73.1 585.7 501.5 -14.4% Q1-Q3 73.1 77.1 2024 2025 -5 0 5 10 0 20 40 60 80 100 120 11.4 10.6 66.5 53.1 Q1-Q3 2024 2025 2024 2025 2024 2025
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< 8 >Q3 2025 Call Presentation Solid financial performance despite trade-related uncertainties and FX headwinds Sales • Domestic demand in India stabilized in Q3 2025, while overall organic sales were 13.9% below the PY , reflecting trade-related uncertainties in the ASEAN region and seasonally softer demand from mining sector during the monsoon season • In addition, FX rate fluctuations were negatively impacting topline by 7.6% yoy but also sequentially • Q1-Q3 2025 organic sales were 15.8% below PY , FX effects led to a sales decline of 4.6% APAC sales (in EUR mn) APAC adj. EBIT and margin (in EUR mn and %) Adj. EBIT and margin • Profitability in Q3 was mainly impacted by lower topline with usually higher profitability • 11th quarter in a row with double-digit adj. EBIT margin despite market softness and tariffs 0 5 10 0 20 40 60 Q3 Q4 Q1 Q2 Q3 57.9 60.0 53.9 49.2 45.5 -21.5% 10.121.0 25.5 20.0 17.920.0 17.925.520.1 -5 0 5 10 0 5 10 15 20 12.0 Q3 10.1 Q4 11.4 Q1 10.8 Q2 10.8 Q3 6.9 6.1 6.2 5.3 4.9 73.1 73.1 186.6 148.6 -20.4% Q1-Q3 73.1 77.1 2024 2025 -5 0 5 10 0 5 10 15 20 25 30 35 12.3 11.0 22.9 16.4 Q1-Q3 2024 2025 2024 2025 2024 2025
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< 9 >Q3 2025 Call Presentation Financials Q3 2025
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< 10 >Q3 2025 Call Presentation EBIT to adjusted EBIT reconciliation for the Group Reported EBIT mainly influenced by lower topline development Mainly refer to costs for restructuring of production and logistics processes in North America und EMEA as well as integration costs for Assali and Tecma Based on strong aftermarket performance and strict cost discipline, adj. EBITDA margin continues to develop solidly 1 2 3 in EUR mn Q3 2025 Q3 2024 Q1-Q3 2025 Q1-Q3 2024 EBIT 28.9 36.9 99.3 126.7 EBIT margin in % 6.9 8.4 7.6 8.7 Additional depreciation & amortization from PPA 5.4 5.7 16.9 17.4 Restructuring and transaction costs 3.8 0.7 4.9 2.0 Impairment on property, plant and equipment and intangible assets - - - - Other adjustments - - - - Adj. EBIT 38.1 43.3 121.1 146.1 Adj. EBIT margin in % 9.1 9.8 9.3 10.1 Adj. EBITDA 54.9 59.6 171.4 193.4 Adj. EBITDA margin in % 13.2 13.5 13.1 13.3 -21.7% -12.0% -7.9% -21.6% -17.1% -11.4% 2 1 3
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< 11 >Q3 2025 Call Presentation Improved financial result more than compensates softer EBIT in Q3 1 2 in EUR mn Q3 2025 Q3 2024 Q1-Q3 2025 Q1-Q3 2024 EBIT 28.9 36.9 99.3 126.7 Finance result -7.9 -17.5 -40.2 -35.7 EBT 21.1 19.4 59.1 91.0 Income taxes -7.1 -9.9 -21.2 -30.8 Tax rate (in %) -33.9 -51.1 -35.8 -33.9 Result for the period 13.9 9.5 37.9 60.2 Minorities - -0.2 - -0.6 Result attributable to shareholders 11.8 9.3 37.9 59.6 Basic EPS 0.31 0.20 0.84 1.31 Adj. result attributable to shareholders 22.6 19.0 60.3 81.6 Adj. EPS 0.50 0.42 1.33 1.80 -21.7% +49.4% +18.6% -21.6% -36.3% -26.1% 1 2 2 Finance result improved by EUR 9.7 mn mainly due to: • a favorable FX environment • the restructuring of intercompany financing to limit the effect of unrealized FX effects • lower interest expenses (-17% yoy) based on improved funding Tax rate increased compared to PY primarily driven by non- capitalized deferred tax assets on interest and loss carryforwards which cannot be utilized to the same extent as in previous quarters due to a reduced operating result For FY 2025, a tax rate of around 35% is expected 1 2
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< 12 >Q3 2025 Call Presentation Equity ratio affected by dividend payment and FX effects • Compared to 31 December 2024, equity declined by 9.5% mainly due to the market-related lower result of the period as well as the dividend payment of EUR 38.6 mn and negative FX valuation effects of EUR 37.2 mn • Despite FX-related lower intangible assets, balance sheet total was 3.5% above the level at year-end 2024 primarily due to higher accounts receivables and cash • Hence, SAF-HOLLAND’s equity ratio declined to 26.9% compared to December 2024 EUR mn Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Equity 468.5 441.4 449.8 433.4 468.8 476.0 502.3 492.3 484.4 527.1 539.4 464.7 477.2 Balance sheet total* 1,456.9 1,498.4 1,650.7 1,686.9 1,706.5 1,662.1 1,701.6 1,726.1 1,689.2 1,711.9 1,731.1 1,674.9 1,771.5 32.2% 29.5% 27.2% 25.7% 27.5% 28.6% 29.5% 28.5% 28.7% 30.8% 31.2% 27.7% 26.9% * Dec 2023 until Sep 2024 were restated
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< 13 >Q3 2025 Call Presentation NWC build-up driven by proactive response to geopolitical dynamics & customer demand Net working capital (in % of sales) • Inventory levels reflect prudent management amid tariff- related uncertainties and ongoing aftermarket demand • Compared to September 2024, NWC decreased by 2.2% mainly due to inventory reduction as well as higher accounts receivables • NWC includes factoring in the amount of EUR 34.8 mn (Dec 2024: EUR 39.4 mn) • Higher NWC ratio mainly reflects temporary, market- related topline effects • Until year-end, SAF-HOLLAND targets to achieve a NWC ratio between 16-18% EUR mn Sep 2022 Dec 2022 Mar 2023 Jun 2023* Sep 2023* Dec 2023 Mar 2024 Jun 2024* Sep 2024* Dec 2024 Mar 2025* Jun 2025* Sep 2025* Inventories 237.9 202.2 308.4 305.7 308.3 306.7 322.6 311.0 302.7 291.5 304.4 301.4 297.3 Trade receivables 187.0 144.7 283.0 286.4 253.2 219.7 256.6 241.0 223.6 185.0 221.4 217.5 212.8 Trade payables -187.3 -159.0 -262.2 -261.4 -248.5 -228.6 -228.2 -219.6 -195.6 -185.4 -215.7 -198.9 -186.5 NWC 237.6 188.0 329.2 330.7 313.0 297.8 350.9 332.4 330.7 291.1 310.1 320.0 323.6 Sales (LTM) 1,497.5 1,565.1 2,112.8 2,143.2 2,165.1 2,106.2 2,135.7 2,100.7 2,012.3 1,876.7 1,832.3 1,758.7 1,733.1 Note: Since March 2023, data includes Haldex * LTM sales include acquisition-related contribution on a pro forma basis 15.9% 12.0% 15.6% 15.4% 14.5% 14.1% 16.5% 15.8% 16.4% 15.5% 16.9% 18.2% 18.7%
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< 14 >Q3 2025 Call Presentation Operating free cash flow impacted by NWC management and lower EBITDA * Pre acquisitions EBITDA driven by market-softness Higher NWC-related cash outflow reflects proactive inventory management amid US-tariff effects and sustained aftermarket strength Capex amounted to 2.5% of Group sales during January to September 2025 Investments focused on further automation and modernization processes as well as on the preparations for the new plant in Rowlett, Texas, USA and the capacity expansion in Düzce, Türkiye Operating free cash flow* (in EUR mn) Q1 Q2 Q3 Q4 -12.4 8.2 56.8 0.9 42.4 38.5 59.82024 2025 in EUR mn Q3 2025 Q3 2024 Q1-Q3 2025 Q1-Q3 2024 EBITDA 51.1 58.9 166.5 191.4 Change in Net Working Capital -7.0 +2.8 -53.5 -19.3 Taxes paid -8.3 -13.8 -29.0 -40.5 Others +13.0 +2.8 -4.7 -18.2 Net CF from operating activities 48.8 50.7 79.3 113.4 Operating capex -10.2 -8.3 -31.7 -26.7 Operating free cash flow 38.5 42.4 47.6 86.7 1 2 3 1 2 3
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< 15 >Q3 2025 Call Presentation Leverage ratio * Reported EBITDA (LTM) ** Dec 2022 net debt/EBITDA ratio of 0.7x did not include additional debt to finance the acquisition of Haldex 1 Dec 2023 until Sep 2024 were restated Note: Net debt / EBITDA calculation includes Haldex related debt and pro-forma EBITDA (LTM) contribution for the periods Mar to Sep 2023 EUR mn Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Net debt1 158.8 108.4 508.1 536.5 475.4 460.6 492.8 502.8 509.3 473.5 477.7 574.5 547.0 EBITDA* 140.0 151.5 214.1 212.0 223.6 248.7 259.0 273.2 259.4 252.4 247.0 235.3 227.5 Net debt/EBITDA • Increase in net debt compared to year-end 2024 mainly influenced by increase in lease liabilities of EUR 19.3 mn (mainly Rowlett factory built-up) as well as lower EBITDA from lower sales • Compared to June 2025, leverage remained stable due to favorable cash development despite slightly lower EBITDA • Leverage excl. IFRS16 leases amounted to 2.2x at the end of September 2025 0.7** 1.1 2.6 2.4 2.5 2.1 1.9 1.9 1.8 2.0 1.9 1.9 2.4 2.4
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< 16 >Q3 2025 Call Presentation Share buyback program 2025 • Robust liquidity situation, supported by a successful cash-pooling, and solid financing structure with no outstanding maturities before March 2027 • Attractive investment in the Company and a clear signal of confidence in its long-term growth potential • SAF-HOLLAND plans to propose to renew the authorization to acquire treasury shares to the Annual General Meeting on May 21, 2026 UP TO EUR 40 MN Volume UP TO 5% Share capital END OF NOVEMBER – 31 DECEMBER 2026 Time span
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< 17 >Q3 2025 Call Presentation Outlook FY 2025 and key takeaways
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< 18 >Q3 2025 Call Presentation 2025 Market outlook adjusted Note: Market forecasts are internal management assumptions based on customer communication, IHS Markit (Q3 2025), ACT Research (North America, October 2025), ANFAVEA (Brazil, October 2025), ANFIR (Brazil, October 2025) Society of Indian Automobile Manufacturers (October 2025) Q1-Q3 2025 Trailer Market Q1-Q3 2025 Truck Market FY 2025e Trailer Market FY 2025e Truck Market EMEA ~ -10 to -15% ~ 0 to +5% 0 to -5% (previously: +/- 0%) 0 to +5% North America -22% -25% -20 to -30% -20 to -30% Brazil ~ -20% ~ -4% -10 to -20% -5 to -10% China ~ +15% ~ +20% +10 to +20% (previously: 0 to -5%) +10 to +20% (previously: 0 to -5%) India ~ -4% ~ +7% 0 to -5% 5 to +10% (previously: 0 to +5%) * Indicative view based on FY 2024 sales Truck OEM business* EMEA North America Brazil China India Rest of APAC Trailer OEM business*
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< 19 >Q3 2025 Call Presentation Outlook 2025 adjusted for Group sales Group FY 2024 Results Group FY 2025 Outlook as of July 2025 Adjusted Group FY 2025 Outlook as of November 2025 Sales EUR 1,876.7 mn Around EUR 1,800 mn EUR 1,700 mn – EUR 1,750 mn Adj. EBIT margin 10.1% Around 9.3% Around 9.3% Capex ratio* 3.1% Up to 3% Up to 3% * Incl. payments for investments in property, plant and equipment and intangible assets as well as capitalized R&D Sales • Business environment in North America continued to deteriorate in recent months due to ongoing uncertainty resulting from US tariff policy • Reluctance to buy in APAC among customers with end users in the US is negatively impacting business in India and Southeast Asia (especially Vietnam and Thailand) despite moderate growth in Indian domestic trailer market • In the European trailer market, the positive order momentum from Q2 did not continue recently • Negative currency effects continue to weigh on sales • Aftermarket expected to be stable Guidance on adj. EBIT margin & Capex ratio unchanged Efficiency program initiated to drive2030 • Further strengthening of structures, particularly in administrative and sales areas • Additional adjusted expenses in the high-single- digit euro million range related to personnel measures may be incurred until year-end
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< 20 >Q3 2025 Call Presentation Key takeaways Trade policy uncertainty continues to weigh on CV markets with dampened US investment sentiment impacting also Southeast Asian trailer demand1 Solid underlying profitability demonstrates operational discipline and efficiency despite external headwinds2 Solid cash generation during Q3 despite weaker topline3 Moderate order expectations for the coming months to be addressed through continued strict cost management and efficiency measures in indirect workforce4
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< 21 >Q3 2025 Call Presentation Contact and additional information
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< 22 >Q3 2025 Call Presentation Investor relations contact & financial calendar Issuer & contact SAF-HOLLAND SE Hauptstrasse 26 63856 Bessenbach Dana Unger Vice President Investor Relations, Corporate & ESG Communications Tel: +49 6095 301 – 949 Alexander Pöschl Senior Manager Investor Relations, Corporate & ESG Communications Tel: +49 6095 301 – 117 Marleen Prutky Junior Manager Investor Relations, Corporate & ESG Communications Tel: +49 6095 301 – 592 Email: ir@safholland.de Financial calendar and road show activities November 13, 2025 Publication Quarterly Statement Q3 2025 November 28, 2025 Roadshow Frankfurt December 2, 2025 Berenberg Fairmont Conference January 8-9, 2026 ODDO Forum Lyon March 19, 2026 Publication Annual Report 2025 May 7, 2026 Publication Quarterly Statement Q1 2025 May 21, 2026 Annual General Meeting August 6, 2026 Publication Half-year Report H1 2025 November 5, 2026 Publication Quarterly Statement Q3 2025
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< 23 >Q3 2025 Call Presentation Disclaimer * This presentation has been prepared by SAF-HOLLAND SE (“SAF-HOLLAND”) and comprises written materials concerning SAF-HOLLAND. It is furnished to you solely for your information and may not be reproduced or redistributed, in whole or in part, to any other person. It contains summary information only and does not purport to be comprehensive and is not intended to be (and should not be used as) the sole basis of any analysis or other evaluation of SAF-HOLLAND or its business. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of any information, including projections, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and, accordingly, neither SAF-HOLLAND nor any of the members of its management board or any of its officers, employees or advisors nor any other person shall have any responsibility or liability whatsoever (for negligence or otherwise) arising, directly or indirectly, from the use of this presentation, or its contents or otherwise in connection with this presentation. This presentation contains certain statements related to our future business and financial performance and future events or developments involving SAF-HOLLAND and/or the industry in which SAF-HOLLAND operates that may constitute forward-looking statements. These statements may be identified by words such as “believes,” “expects,” “predicts,” “intends,” “projects,” “plans,” “estimates,” “aims,” “foresees,” “anticipates,” “targets,” and similar expressions. Forward-looking statements are not historical facts, but solely opinions, views and forecasts which are based on current expectations and certain assumptions of SAF-HOLLAND’s management or cited from third party sources which are uncertain and subject to risks. Actual events may differ significantly from the anticipated developments due to a number of factors, including without limitation, changes in general economic conditions, changes affecting the fair values of the assets held by SAF-HOLLAND and its subsidiaries, changes affecting interest rate levels, changes in competition levels, changes in laws and regulations, environmental damages, the potential impact of legal proceedings and actions and the Group’s ability to achieve operational synergies from past or future acquisitions. Should any of these risks or uncertainties materialize or should underlying expectations not occur or assumptions prove to be incorrect, actual results, performance or achievements of SAF-HOLLAND may (negatively or positively) vary materially from those described, explicitly or implicitly, in the relevant forward-looking statement. The information contained in this presentation, including any forward-looking statements expressed herein, speaks only as of the date hereof and reflects current legislation and the current business and financial affairs of the SAF-HOLLAND which are subject to change and audit. Neither the delivery of this presentation nor any further discussions of SAF-HOLLAND with any of the recipients thereof shall, under any circumstances, create any implication that there has been no change in the affairs of SAF-HOLLAND since such date. 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In the United States, any securities may not be offered or sold absent registration or an exemption from registration under the U.S. Securities Act of 1933. The information contained in this document has not been subject to any independent audit or review. Information derived from unaudited financial information should be read in conjunction with the relevant audited financial statements, including the notes thereto. Certain financial data included in the document consists of "non-IFRS financial measures". These non-IFRS financial measures may not be comparable to similarly titled measures presented by other companies, nor should they be construed as an alternative to other financial measures determined in accordance with IFRS. You are cautioned not to place undue reliance on any non-IFRS financial measures and ratios included herein.