LUXEMBOURG — Officials at SAF-Holland are expecting significant sales growth to more than EUR 550 million in the current fiscal year, after reaching EUR 419.6 million in 2009. Adjusted EBIT increased to EUR 14.6 million in the first half of the year, while in the second quarter, adjusted EBIT has already doubled compared to the previous quarter, while sales increased by 29.4% from April to June.

“SAF-Holland can look back on a pleasing business development in the first half of 2010. The second quarter in particular gives us a positive outlook for the rest of the year,” said Rudi Ludwig, CEO of SAF-Holland. “We notice both the continuously rising demand and the positive effects of cost-saving measures initiated in the past 18 months. As previously communicated, SAF-Holland is benefitting tremendously from the economic upswing and the corresponding increase in demand for transportation services. This trend will continue. We expect Group sales to be over EUR 550 million and Group earnings to sustainability improve.”

Overall, sales for SAF-Holland increased by 34.8% to EUR 287.5 million (previous year:  EUR 213.3 million) in the first half of 2010, adjusted for exchange rate effects to EUR 286.7 million. All three of the company’s business units improved in the reporting period, with its North American unit accounting for 46.5% of its sales.