SAF-HOLLAND SE: Group sales in Q1 2022 significantly above previous year – Raise of sales guidance and specification of margin guidance for financial year 2022
Disclosure of an inside information pursuant to Article 17 of the Regulation (EU) No 596/2014 (MAR)
SAF-HOLLAND SE: Group sales in Q1 2022 significantly above previous year – Raise of sales guidance and specification of margin guidance for financial year 2022
Bessenbach, May 5, 2022. In the first three months of 2022, SAF-HOLLAND SE's Group sales of EUR 369.7 million were 29.4% higher than the previous year's figure of EUR 285.6 million due to demand.
High steel prices as well as high freight and energy costs, which are passed on with a time lag, had a strong impact on the cost of sales ratio, primarily in Europe, while the administrative and research and development cost ratios declined significantly. In total, this led to an adjusted EBIT of EUR 23.5 million (previous year EUR 22.0 million). This corresponds to an adjusted EBIT margin of 6.4 % (previous year 7.7 %).
Based on the figures for the first quarter of 2022, the Management Board of SAF HOLLAND SE has today decided to raise the forecast for Group sales for the 2022 financial year and to specify the forecast for the adjusted EBIT margin.
Based on the expected macroeconomic and industry-specific framework conditions and weighing up the potential risks and opportunities, the Management Board now expects Group sales for the 2022 financial year to be in a range of EUR 1.2 billion to EUR 1.35 billion (previously EUR 1.15 billion to EUR 1.3 billion).
Based on this assumption, SAF HOLLAND also expects an adjusted EBIT margin of 6.5% to 7.0% for the 2022 financial year (previously: significantly below the previous year).
In order to support the strategic goals, the company continues to plan investments in the range of 2% to 2.5% for the 2022 financial year. The investments will focus on the continuation of the capacity expansions already started in Turkey and Mexico as well as a capacity expansion in India. Furthermore, the company plans to invest in efficiency-enhancing measures, especially in Germany and the USA.
The publication of the quarterly statement for the first quarter of 2022 is still scheduled for May 10, 2022.
Additional Information:
ISIN: DE000SAFH001
WKN: SAFH00
Deutsche Boerse: SFQ
Trading: Amtlicher Markt (Prime Standard), Frankfurter Wertpapierboerse
Contact
Petra Müller
Head of Investor Relations, Corporate und ESG Communications
Tel: +49 (0) 6095 301 918
ir@safholland.de
About SAF-HOLLAND
SAF-HOLLAND SE is a leading international manufacturer of chassis-related assemblies and components for trailers, trucks and buses. The product range includes, among other things, axle and suspension systems for trailers as well as fifth wheels for trucks and coupling systems for trucks, trailers and semi-trailers. In addition, SAF-HOLLAND develops innovative products to increase the efficiency, safety and environmental friendliness of commercial vehicles. The focus here is on the digitalization and networking of trailers as well as the electrification of axles. The products and solutions are marketed under the brands SAF, Holland, V.Orlandi, TrailerMaster, Neway, KLL and York. SAF-HOLLAND supplies original equipment to vehicle manufacturers on six continents. In the aftermarket business, the company supplies spare parts to the manufacturers' service networks as well as to wholesalers and, through an extensive global distribution network, to end customers and service centers. Around 3,600 dedicated employees worldwide are already working on the future of the transport industry. SAF-HOLLAND shares have been listed in the Prime Standard of the German Stock Exchange since 2007 and are part of the SDAX selection index. For further information, please visit: www.safholland.com.
Important Information
This ad-hoc announcement contains statements related to our future business and financial performance and future events or developments involving SAF-HOLLAND that may constitute forward-looking statements. These statements may be identified by words such as "expect," "look forward to," "anticipate" "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. Such statements are based on the current expectations and certain assumptions of the SAF-HOLLAND management, of which many are beyond the control of SAF-HOLLAND. These are subject to a number of risks, uncertainties and factors. Should one or more of these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of SAF-HOLLAND may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. SAF-HOLLAND neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.