DGAP-News

SAF-HOLLAND S.A.: Significant increase in sales and earnings in the first nine months of 2014

DGAP-News: SAF-HOLLAND S.A. / Key word(s): 9-month figures
SAF-HOLLAND S.A.: Significant increase in sales and earnings in the
first nine months of 2014

06.11.2014 / 07:00

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SAF-HOLLAND: Significant increase in sales and earnings in the first nine
months of 2014

* Group sales increase by more than 10 percent to EUR 723.5 million
* Adjusted EBIT grows by around 20 percent to EUR 55.6 million
* Positive business development, especially in core markets
* Sales and earnings targets for 2014 and 2015 confirmed

Luxembourg, November 6, 2014 - In the first nine months of 2014,
SAF-HOLLAND achieved a sales increase of 10.5 percent as compared with the
prior-year period. By the end of September, the globally-active commercial
vehicle industry supplier increased Group sales to EUR 723.5 million
(previous year: EUR 654.7 million). Third quarter sales totaled EUR 241.5
million (previous year: EUR 219.1 million). Along with the continued
positive business development and the strong expansion of sales volume,
profitability grew at a disproportionately high rate. In the first three
quarters, adjusted EBIT rose by 20.1 percent to EUR 55.6 million (previous
year: EUR 46.3 million) and the adjusted EBIT margin was up at 7.7 percent
(previous year: 7.1 percent). Adjusted earnings per share increased to EUR
0.77 (previous year: EUR 0.52) while average number of shares remained the
same at 45.4 million.


Share of sales in emerging countries grows to over 10 percent
In Europe, it was possible to increase sales as compared to the previous
year to EUR 118.5 million (previous year: EUR 111.6 million) despite a
weaker market environment in the third quarter. In the first nine months,
sales generated on the European market rose by 12.1 percent to EUR 379.7
million (previous year: EUR 338.6 million). With a 52.5 percent share of
sales, the region once again confirmed its position as key sales driver in
the Group.

In North America in the third quarter, SAF-HOLLAND generated sales of EUR
95.2 million (previous year: EUR 88.0 million). Over a nine-month period,
the company achieved sales in the region of EUR 270.1 million (previous
year: 263.2 million). Adjusted for currency effects, sales in North
America in the first nine months of the year reached EUR 278.1 million,
which corresponds to an increase of 5.7 percent as compared to the same
period in the previous year.

From January to September, outside the core markets North America and
Europe, SAF-HOLLAND achieved sales totaling EUR 73.7 million (previous