After a jump in sales in the first quarter, commercial vehicle supplier SAF-Holland has set itself higher goals for 2022.
In the current year, sales should be between 1.2 and 1.35 billion euros, SAF-Holland, listed on SDAX, announced surprisingly Thursday evening after the closure of the exchange in Bessenbach in Lower Franconia. So far, the board had expected 1.15 billion to 1.3 billion euros. Accordingly, the margin for adjusted operating result (EBIT margin) should now be from 6.5 to 7.0 percent, after managers previously assumed a value well below the previous year’s level of 7.5 percent. On the Tradegate trading platform, the stock rose 5.2 percent.
In the first three months of the year, the group’s sales jumped about 30 percent to around 370 million euros. However, as higher steel prices, freight and energy costs put pressure on profitability, EBIT adjusted for special effects only increased from €22 million to €23.5 million. The corresponding margin was 6.4 percent after 7.7 percent in the same quarter of the previous year. The Executive Board would like to comment on the numbers in detail on May 10.
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Image source: SAF-HOLLAND SA
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