BESSENBACH (dpa-AFX) - The commercial vehicle supplier SAF-Holland is likely to be more profitable in the current financial year than previously forecast. The margin before interest and taxes adjusted for special effects (adjusted EBIT margin) is expected to be around 10 percent, as the SDax-listed company announced in Bessenbach on Monday. SAF-Holland had previously targeted 9 to 9.5 percent. According to the company, analysts had previously expected an average of 9.3 percent. SAF-Holland still aims to achieve sales of around 2 billion euros. The share price rose in response to the news and was recently up 4 percent.

In the current second quarter, the operating margin should be between 10.5 and 11 percent. SAF-Holland is benefiting from a higher share of the high-margin spare parts business in total sales. The company also adjusted costs in key regions in response to the normalized market environment. On top of this, synergies following the takeover of the Swedish brake specialist Haldex have recently had a positive impact. SAF-Holland will present its figures for the first half of the year on August 8 /niw/mis