SAF-Holland Stays Committed to Forecast

Steady Growth in Q1 Despite Challenges

SAF-Holland, a leading supplier of axle and suspension systems for commercial vehicles, announced today that it is maintaining its forecast for the 2023 financial year despite ongoing challenges in the global economy.

In the first quarter of 2023, SAF-Holland achieved solid growth in sales and earnings. Sales increased by 7.4% year-over-year to €345.4 million, driven by strong demand for the company's products in Europe and North America. Earnings before interest and taxes (EBIT) rose by 6.8% to €28.8 million.

Continued Focus on Innovation and Efficiency

SAF-Holland CEO Alexander Geis attributed the company's success to its continued focus on innovation and efficiency. "We are constantly investing in new products and technologies to meet the evolving needs of our customers," he said. "We are also implementing lean manufacturing processes to improve our productivity and reduce costs."

Challenges and Opportunities in 2023

Geis acknowledged that the global economy faces significant challenges in 2023, including rising inflation, supply chain disruptions, and the ongoing war in Ukraine. However, he expressed confidence that SAF-Holland is well-positioned to navigate these challenges and capitalize on opportunities for growth.

"We have a strong track record of resilience and adaptability," said Geis. "We are confident that we can continue to deliver value to our customers and shareholders in 2023 and beyond."