SAF-HOLLAND reports jump in sales and earnings in the first half of 2015

* Half-year sales rise 16% to EUR 558.7 million
* Disproportionately high growth of 36% in adjusted EBIT
* Adjusted EBIT margin reaches 9%
* Full-year outlook raised slightly

Luxemburg, August 6, 2015 - After a strong start in the year, the positive
performance of the commercial vehicle industry supplier SAF-HOLLAND
continued in the second quarter of 2015. Group sales in the first half of
2015 increased 15.9% year-over-year to EUR 558.7 million (previous year:
EUR 482.0 million) despite persistent weakness in the considerable markets
of Brazil, Russia, and Australia. Increasing demand for trucks and trailers
in the USA and Europe also supported growth as did the growing share of new
axle modules and suspension systems as well as the accelerated entry into
new markets. Currency translation effects - particularly from the strong US
dollar - had a positive impact on sales. Business expanded organically by
nearly 6%.

Earnings growth outpaced sales growth as a result of high capacity
utilization in combination with stringent cost control and ongoing
efficiency improvements in production. Adjusted earnings before interest
and taxes (EBIT) climbed 35.6% to EUR 49.5 million (previous year: EUR 36.5
million) and resulted in a noticeable improvement in the adjusted EBIT
margin to 8.9% (previous year: 7.6%).

Sales in the second quarter increase 17%
In the second quarter of 2015, Group sales increased 16.6% to EUR 287.7
million (previous year: EUR 246.7 million). At 6.2%, organic sales growth
was somewhat better than expected. In all business units - Trailer Systems,
Powered Vehicle Systems, and Aftermarket - sales picked up in comparison to
the second quarter of 2014 as well as sequentially against the first
quarter of 2015.

A higher gross margin and a below-average rise in selling, administrative,
and R&D expenses resulted in a 41.0% increase in the operating result to
EUR 43.7 million (previous year: EUR 31.0 million).

The significantly higher financial result, amounting to EUR 1.4 million
(previous year: EUR -6.0 million) in the first half of 2015, was clearly
influenced by primarily unrealized gains of EUR 7.1 million (previous year:
EUR 1.2 million) from the valuation at the closing date of intercompany
loans denominated in foreign currencies. Net interest expenses also
declined in the first half of 2015, to EUR 4.3 million (previous year: EUR
4.8 million) mainly as a result of the improved financing structure. The
net financial result in the second quarter totaled EUR -5.2 million
(previous year: EUR -2.7 million).

The higher operating result in combination with the positive swing in the
financial result, which was mainly driven by exchange rates, allowed the
result before tax to climb by 80.7% to EUR 45.9 million (previous year: EUR
25.4 million) in the first half of 2015. Despite a year-over-year rise in
the income tax rate, the result for the period increased to EUR 30.4
million (previous year: EUR 17.5 million). This corresponds to undiluted
earnings per share for the first half of 2015 of EUR 0.67 (previous year:
EUR 0.39), and diluted earnings per share of EUR 0.58 (previous year: EUR
0.39), which take into account the potentially higher number of shares from
the convertible bond issued in 2014.

Second quarter's adjusted EBIT margin of 9.4% within target range
The adjusted EBIT in the second quarter of 2015 increased 38.7% to EUR 26.9
million (previous year: EUR 19.4 million). This increase sent the adjusted
EBIT margin higher to 9.4% (previous year: 7.9%) where it reached the 9 to
10% target range for the first time. Due to the EUR 2.5 million decline in
the financial result, the result for the period grew somewhat slower at
32.2% and rose to EUR 12.3 million (previous year: EUR 9.3 million). This
result is equivalent to undiluted earnings per share for the quarter of EUR
0.27 (previous year: EUR 0.21) and diluted earnings per share of EUR 0.24
(previous year: EUR 0.21).

Strong growth in emerging markets
In Europe, SAF-HOLLAND's strongest sales region, half-year sales grew 3.8%
to EUR 271.2 million (previous year: EUR 261.2 million) despite persistent
pressure from the continued difficulties in the Russian market. Growth in
North America was partly exchange-rate driven with sales increasing 28.2%
to EUR 224.3 million (previous year: EUR 174.9 million). The strongest
percentage sales increase came from other regions where year-over-year
sales grew 37.7% and reached a total of EUR 63.2 million (previous year:
EUR 45.9 million). Business in both the ASEAN region and China performed
exceptionally well. The expansion of the international activities in Mexico
and Dubai, particularly in the spare parts business, had a positive effect
on the sales performance in the Middle East and Central America.

SAF-HOLLAND's 2020 mid-term growth strategy, formulated in the first half
of the year, too, is targeted at seizing the market opportunities in the
emerging markets such as the BRIC and Next Eleven countries. The global
megatrends of population growth, urbanization and globalization as well as
the related sharp rise in the volumes of goods and transportation are
driving the demand for trucks and trailers, especially in the emerging
markets. Next to the strong expansion in the North American business based
on new products, SAF-HOLLAND's strategy is to tap additional growth
potential in Central America, Asia, and the Middle East and raise the share
of sales from these regions from currently 11% to 30% by the year 2020.

A noticeable surge in sales and earnings of all business units
In the first half of 2015, all SAF-HOLLAND business units generated
double-digit increases in sales and solid rises in earnings. The largest
business unit, Trailer Systems, achieved sales of EUR 326.7 million
(previous year: EUR 280.8 million). The high level of utilization and the
positive impact of efficiency improvements led to exceptional
year-over-year growth in adjusted EBIT of more than 80%. Thus the business
unit's adjusted EBIT margin improved to 6.5% (previous year: 4.1%). Steffen
Schewerda, President Trailer Systems Business Unit & Group Operations puts
forward: "Our goal of increasing the unit's adjusted EBIT margin to
approximately 6% by the end of 2015 has been achieved in the first

In light of the solid performance in the truck markets in both North
America and Europe during the first six months, the Powered Vehicle Systems
business unit increased sales to EUR 94.8 million (previous year: EUR 78.9
million). The unit's adjusted EBIT climbed 35.8% to EUR 7.2 million
(previous year: EUR 5.3 million). This performance was not only supported
by measures implemented to further enhance flexibility in production but
also by high capacity utilization in North America and the improved
earnings situation at the bus suspension system specialist Corpco in China.
The adjusted EBIT margin rose to 7.6% (previous year: 6.7%).

Despite difficult economic conditions in Russia and Brazil and the North
American fleet operators' current inclination to purchase new vehicles, the
Aftermarket business unit was still able to increase sales in the first
half of 2015 by 12.2% to EUR 137.2 million (previous year: EUR 122.3
million). Higher costs were incurred as a result of preparations for the
international expansion of the sales structure and the launch of the new
GoldLine brand for the American market. The unit's adjusted EBIT increased
by 7.7% to EUR 21.1 million (previous year: EUR 19.6 million) and the
adjusted EBIT margin amounted to 15.3% (previous year: 16.0%), reaching the
foreseen range of 15 to 16%.

Continued positive sales and earnings performance expected - Outlook for
Group sales, adjusted EBIT and earnings per share raised slightly
The success of the first half of 2015, despite sharp market declines in
Brazil, Russia, and Australia, provides a sound basis for the full year.
SAF-HOLLAND expects the positive business performance to continue
throughout the remainder of the year and the company to report once again
profitable growth for the full year of 2015. The strong year-to-date
organic growth of almost 6% and the positive exchange rate effects already
described make us confident that full-year 2015 Group sales will reach at
least the upper end of our projected sales range of EUR 980 million to EUR
1,035 million (previous year: EUR 959.7 million) or be slightly higher.

Strict cost control in conjunction with efficiency improvements in
production - which over the medium term will also be fueled by the ongoing
merging of facilities - and the overall rise in utilization should allow
the group to generate disproportionately high earnings growth for the full
year. As a result, the company continues to expect the adjusted EBIT margin
to reach the lower end of the range of 9 to 10% (previous year: 7.4%).
Assuming that economic development and the industry's situation remain
stable, the management now foresees adjusted EBIT for the full year of 2015
to be somewhat higher than EUR 90 million (previous expectation was
approximately EUR 90 million). Management expects earnings per share to
increase year-over-year by a minimum of 30%, even on a fully diluted basis
taking into account the share equivalents resulting from the convertible
bonds issued in 2014.

EBIT was adjusted for the following items that are not originally
attributable to the operating business: amortization resulting from the
purchase price allocation and impairment reversals on goodwill and
intangible assets from impairment tests as well as restructuring and
integration costs. The table containing the key figures included in the
press release can also be found in the quarterly report of SAF-HOLLAND S.A.
as of June 30, 2015 accessible at

Company Profile:
With sales of approximately EUR 960 million in 2014 and more than 3,000
employees, SAF-HOLLAND S.A. is one of the world's leading manufacturers and
suppliers of premium product systems and components primarily for trailers,
trucks, buses, and recreational vehicles. The product range encompasses
trailer axle systems, suspension systems, coupling devices, kingpins, and
landing legs, among others. SAF-HOLLAND sells its products on six
continents to Original Equipment Manufacturers ("OEMs") in the original
equipment market and, in the aftermarket business, to the OEM's Original
Equipment Suppliers ("OESs") as well as through global service and
distribution networks. SAF-HOLLAND also sells its products to end users and
service centers using this network. SAF-HOLLAND has established itself as
one of the few manufacturers in its sector that is internationally
positioned with an extensive product range and a broad service network.
SAF-HOLLAND S.A. is listed in the Prime Standard of the Frankfurt Stock
Exchange and in the SDAX (ISIN: LU0307018795).

Stephan Haas
Hauptstraße 26
63856 Bessenbach

Phone +49 6095 301-617