SAF-HOLLAND SE : Q2 2020 results in line, restructuring activities likely to support adjusted EBIT starting in H2 2020e
>Q2 2020 results broadly in line; restructuring costs higher-than-expected - Yesterday, SAF-Holland reported Q2 2020 results broadly in line with expectations. Q2 2020 group sales of € 193m experienced a sharp 49% y-o-y decline on the back of soft truck and trailer production figures across all key regions. This is slightly short of our Q2 2020 group sales estimate (€ 201m) as we did not expect APAC sales to decline 64% y-o-y. Q2 2020 group adjusted EBIT came in at € ...SAF Holland is engaged in inno vation and technology. Co.'s operations can be divided into three segments: Trailer Systems, Powered vehicle Systems and Aftermarket. Through the Trailer Systems segment, Co. produces axle systems, suspension systems, kingpins, and landing legs for the trailer industry. Through the Powered Vehicle Systems, Co. generates its sales primarily with fifth wheels and air suspension systems for manufacturers in the truck industry. The Aftermarket segment covers the replacement parts business in which Co. relies on a worldwide service network, partly in cooperative agreements with truck manufacturers.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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