Equipment specialist, SAF-Holland SE, has announced a strong second quarter 2022, with forecast raised for the full year.
The equipment specialist reported a record group sales figure of €773 million in the first half of the year, 27.2 per cent higher compared to the previous year.
Adjusted EBIT improved by 18.6 per cent to €55.6 million, and adjusted EBIT margin was recorded at 7.2 per cent.
SAF-Holland SE Chairman of the Management Board, Alexander Geis, said that the company expects demand to remain stable over the remainder of the year based on its order backlog.
“Demand for our axle and suspension systems, and also for our fifth wheels, was once again very strong in all three regions in the second quarter of 2022, as reflected in the record sales of €404 million,” he said.
“The strong development in the Americas and APAC regions was the major factor in the adjusted EBIT margin of eight per cent.
“We were therefore able to significantly reduce the differential in the EBIT margin from 1.3 percentage points after the first quarter of 2022 to 0.6 percentage points.”
Sales in the EMEA region improved by 27.3 per cent to €423.5 million in the first six months of 2022, compared to €361 million year-on-year (YOY).