Saf-Holland, a leading supplier to the global truck and trailer industry, has recorded 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 adjusted EBIT 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 percent while adjusted EBIT increased to EUR 26.0 million (previous year: EUR 1.2 million).

Adjusted result for the period exceeds once again break-even level

All three business units contributed to the sales increase to EUR 459.2 million (previous year: EUR 316.4 million), with the trailer area now showing increasing recovery compared to the truck area. The Group generated 48.1 percent of its sales in Europe (previous year: 47.2 percent), 45.4 percent in North America (previous year: 47.3 percent) and 6.5 percent in other regions (previous year: 5.5 percent). The gross margin improved to 19.1 percent (previous year: 16.8 percent) in the period from January through September.

Saf-Holland is continuing to focus on optimizing inventory management at its plants for the purpose of improving its cash flow and liquidity development on an ongoing basis. Cash flow from operating activities before income tax payments increased to EUR 34.2 million (previous year: EUR 29.1 million) in the reporting period. As a result of increasing demand, the number of employees increased as of the reporting date of September 30, 2010 to 2,742 including temporary employees (December 31, 2009: 2,331).