DGAP-News

SAF-HOLLAND S.A. increases organic sales in the third quarter of 2016 - Seite 3

undiluted earnings per share for the third quarter 2016 amounted to EUR
0.24 (previous year: EUR 0.26) and diluted earnings per share were EUR 0.20
(previous year: EUR 0.22). The result for the period in the first nine
months of 2016 reached EUR 36.3 million (previous year: EUR 42.1 million)
based on a slightly lower year-on-year Group tax rate of 29.4% (previous
year: 33.4%). This led to undiluted earnings per share of EUR 0.81
(previous year: EUR 0.93) and diluted earnings per share of EUR 0.70
(previous year: EUR 0.80).

Operating free cash flow improves by roughly EUR 30 million in the first
nine months
The cash flow situation was favorable with net cash flow from operating
activities sharply higher at EUR 53.9 million in the 2016 nine-month period
(previous year: EUR 29.9 million). This rise can be attributed, above all,
to improved working capital management, which also drove operating free
cash flow significantly higher in the nine-month period to EUR 38.4 million
(previous year: EUR 8.7 million).

EMEA/India region largely offsets market weakness in North America and
Brazil and posts higher earnings
From a regional perspective, business development diverged substantially.
Despite discernible declines in Turkey, the EMEA/India region continued to
perform well increasing sales in the third quarter of 2016 by 3.1% to EUR
133.6 million (previous year: EUR 129.6 million). An advantageous product
mix and a rising export business drove the adjusted EBIT margin higher to
10.2% (previous year: 9.4%). Adjusted EBIT for the region increased 11.5%
to EUR 13.6 million (previous year: EUR 12.2 million). In the first nine
months of 2016, sales for the segment grew 5.1% to EUR 430.8 million
(previous year: EUR 410.0 million) and adjusted EBIT for the region climbed
to EUR 44.6 million (previous year: EUR 35.6 million). As a result of high
capacity utilization and in preparation for future growth, the Company is
now gradually expanding capacity in Europe.

Sales of the Americas segment again recorded a noticeable decline of 5.9%
to EUR 104.7 million (previous year: EUR 111.3 million) in the third
quarter with the adjusted EBIT margin decreasing to 7.6% (previous year:
10.0%). Still, in comparison to the sharp double-digit falls in production
recorded in the North American truck and trailer market, SAF-HOLLAND's
performance in this region was significantly better. In the nine-month
period, sales of the segment amounted to EUR 309.7 million (previous year:
EUR 350.6 million) and adjusted EBIT reached EUR 24.3 million (previous
year: EUR 33.7 million).

Sales in the APAC/China segment of EUR 17.5 million (previous year: EUR
17.9 million) in the third quarter of 2016 were maintained close to the