DGAP-News SAF-HOLLAND SE: SAF-HOLLAND achieves an adjusted EBIT margin slightly above the margin guidance and a high operating free cash flow after a strong final quarter
DGAP-News: SAF-HOLLAND SE / Key word(s): Preliminary Results/Annual Results
SAF-HOLLAND achieves an adjusted EBIT margin slightly above the margin guidance and a high operating free cash flow after a strong final quarter
- Group sales decreased by 25.3 per cent to EUR 959.5 million due to market conditions and COVID-19
- Adjusted EBIT margin slightly above the margin guidance that was raised in November 2020 to 5 to 6 per cent
- Capex ratio at 2.5 per cent within the medium-term target of around 2.5 per cent
- Net working capital ratio significantly improved from 14.3 per cent to 11.9 per cent
- Operating free cash flow exceeds the 100-million-euro mark for the first time
Bessenbach, February 22, 2021. SAF-HOLLAND SE ("SAF-HOLLAND"), one of the world's leading suppliers of trailer and truck components today published its preliminary unaudited financial figures for financial year 2020.
Alexander Geis, Chairman of the Management Board of SAF-HOLLAND SE says: "We closed financial year 2020 with a strong fourth quarter in a challenging market environment. With Group sales of
slightly more than EUR 250 million (previous year: EUR 275.5 million) we generated an adjusted EBIT margin of over 8 per cent in the fourth quarter, thereby clearly exceeding the pre-COVID-19
figure of the same quarter of the previous year of 4.7 per cent."
"The figures underscore the resilience of our business model. The extensive programme launched at the end of September 2019 to sustainably reduce selling and administrative expenses made a significant contribution to our pleasing financial performance. With the successful restructuring of our North American and Asian production network, we are entering the future in a much stronger position and have thus created a solid foundation for achieving the financial targets defined in our new medium-term strategy 2025. The development of the order intake in the EMEA and Americas regions leads us to expect a good start to the 2021 financial year," adds Alexander Geis.