Aftermarket

SAF-Holland Sales Up on Increased Demand

August 26, 2010

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Truck and trailer parts supplier SAF-Holland said its fiscal second quarter sales were up 29.4 percent from the previous quarter, while earnings before interest and taxes nearly doubled from the previous quarter.


The company posted second quarter sales of $205.9 million, up from $128.5 million in sales during the 2009 quarter, a gain of about 60 percent.

SAF-Holland said it expects sales to grow to nearly $700 million in the current fiscal year, compared to $532.6 million in 2009.

"SAF-HOLLAND can look back on a pleasing business development in the first half of 2010," said Rudi Ludwig, CEO. "The second quarter in particular gives us a positive outlook for the rest of the year. We notice both the continuously rising demand and the positive effects of cost-saving measures initiated in the past 18 months. As previously communicated, SAF-Holland is benefiting tremendously from the economic upswing and the corresponding increase in demand for transportation services. This trend will continue."

According to the company's first half-year 2010 report, sales were up 34.8 percent over the first half of 2009. All three of its business units saw improvements. Its European business accounted for 47.2 percent of sales, while North America represented 46.5 percent of sales.

The company's trailer systems business achieved the highest sales since the fourth quarter of 2008. The unit's sales were up 52 percent in the first half of the year.

Within its power vehicle systems, sales grew by 25.8 percent on increased demand and improving capacity utilization.

The aftermarket business unit posted sales of $114.2 million in the period, compared with $95 million in the year-ago period.

"As the demand for trucks and trailers increases significantly again worldwide, the production is on the rise - a trend we expect to continue," the company said.

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