SAF-Holland’s sales, profits soar in first three quarters

Truck News

LUXEMBOURG — SAF-Holland S.A. has reported a significant increase in sales and earnings for the first nine months of the fiscal year. Sales climbed to EUR 171.7 million (previous year: EUR 103.1 million) in the third quarter and profit rose to EUR 11.4 million (previous year: EUR 2.5 million). In the first nine months, the group generated sales of EUR 459.2 million, corresponding to growth of 45.1% while profit increased to EUR 26.0 million (previous year: EUR 1.2 million).

“The SAF-HOLLAND Group made significant progress in the third quarter. We will even achieve some of our objectives sooner than expected,” said Rudi Ludwig, CEO of SAF-HOLLAND. “Of course, increasing global demand has helped but most importantly, the corporate strategy we have adopted has been affirmed. The restructuring measures of the last two years are clearly showing their impact. Our company is lean and strong and we are internationally positioned with good growth potential in all our core markets.”

The group generated 48.1% of its sales in Europe (previous year: 47.2%), 45.4% in North America (previous year: 47.3%) and 6.5% in other regions (previous year: 5.5%).

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