DGAP-News

SAF-HOLLAND S.A.: Successful second quarter of 2014 with strong growth in sales and earnings

DGAP-News: SAF-HOLLAND S.A. / Key word(s): Half Year Results
SAF-HOLLAND S.A.: Successful second quarter of 2014 with strong growth
in sales and earnings

07.08.2014 / 07:05

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SAF-HOLLAND: Successful second quarter of 2014 with strong growth in sales
and earnings

* Half-year sales increase by more than 10 percent to EUR 482 million
* Further benefit from positive industry environment
* Adjusted EBIT increases by 22.5 percent to EUR 36.5 million
* Sales and earnings targets for 2014 and 2015 confirmed

Luxembourg, August 7, 2014 - SAF-HOLLAND, the global supplier for the truck
and trailer industry, continues its positive business development. In the
second quarter, Group sales increased to EUR 246.7 million (previous year:
EUR 225.5 million). Half-year sales rose to EUR 482.0 million (previous
year: EUR 435.6 million) representing an increase of 10.7 percent on the
prior-year period. Currency adjusted, sales even increased to EUR 490.8
million in the half-year. The strong expansion of sales volume was linked
to a disproportionately high increase in profitability. Compared with the
same period of the previous year, adjusted EBIT increased in the first six
months by 22.5 percent to EUR 36.5 million (previous year: EUR 29.8
million), while the adjusted EBIT margin rose to 7.6 percent (previous
year: 6.8 percent). Adjusted earnings per share increased to EUR 0.47
(previous year: EUR 0.37) with the number of shares remaining unchanged at
45.4 million shares.

Sales increase of over 15 percent in Europe
The European business made a significant contribution to the substantial
sales increase. In this region, SAF-HOLLAND was able to expand sales by
15.1 percent to EUR 261.2 million (previous year: EUR 227.0 million). The
Company reaped disproportionately large benefits from the favorable
industry environment and further expanded its good position in this core
market. Detlef Borghardt, CEO of SAF-HOLLAND: "The higher demand we
expected in the European trailer market continued into the second quarter
as expected following the strong first quarter." With a share in Group
sales of 54.2 percent (previous year: 52.1 percent), Europe is the most
important sales region for SAF-HOLLAND.

Sales generated in North America in the first six months amounted to EUR
174.9 million (previous year: EUR 175.2 million) and were thus at nearly
the same level as in the prior year period. In the second quarter, it was
possible to beat the prior-year period with sales growth of 3.0 percent to