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Corporate News SAF Holland Group SAF - HOLLAND : Very good start to financial year 2021 • Group sales of EUR 285.6 million up 0.8 per cent on first quarter of the previous year Adjusted EBIT margin significantly improved by 1.2 percentage points to 7.7 per cent • • Operating free cash flow balanced despite demand - driven increase in net working capital Leverage ratio scaled back further to 2.25x EBITDA Outlook for the full year 2021 confirmed Bessenbach , May 12 , 2021. SAF - HOLLAND SE ( “ SAF - HOLLAND " ) , one of the world's leading suppliers of trailer and truck components today published its financial figures for the first quarter of 2021 . Alexander Geis , Chairman of the Management Board of SAF - HOLLAND SE says : " We have had a very good start to the financial year and were able to follow on seamlessly from the positive development of the preceding two quarters . The positive business momentum in the EMEA and APAC regions , the favourable business mix and the structural cost reduction and process optimisation measures contributed to the significant improvement in the EBIT margin to 7.7 per cent . " " Incoming orders continue to develop in a very pleasing fashion . In the EMEA region , for example , capacity is currently utilised until autumn . I am therefore more than optimistic that we will achieve our annual targets for Group sales and adjusted EBIT margin , ” adds Alexander Geis . Adjusted EBIT margin of 7.7 per cent significantly above previous - year figure Due to market conditions and COVID - 19 , Group sales in the first quarter of 2021 came to EUR 285.6 million , 0.8 per cent above the previous year's level of EUR 283.4 million . Currency effects amounted to EUR -13.7 million and resulted primarily from currency changes of the US dollar , the Turkish lira , the Australian dollar and the Brazilian real against the Euro . Adjusted for currency translation effects , sales increased by 5.6 per cent . Sales in the OE business decreased by 0.8 per cent or EUR 1.8 million to EUR 207.5 million in the reporting period from January to March 2021. The share of Group sales accounted for by the OE business decreased from 73.8 per cent to 72.6 per cent . By contrast , sales in the spare parts business increased by 5.4 per cent or EUR 4.0 million to EUR 78.2 million . Consequently , the share of the spare parts business in Group sales increased from 26.2 per cent to 27.4 per cent . Adjusted gross profit improved to EUR 56.0 million in the first quarter of 2021 due to the sales and cost situation ( previous year : EUR 52.3 million ) . Due to a favourable product mix , the broad customer base and the structural cost savings , the adjusted gross margin came to 19.6 per cent , which lies significantly above the gross margin achieved in the comparable period of the previous year of 18.4 per cent . Adjusted EBIT amounted to EUR 22.0 million in the first quarter of 2021 ( previous year : EUR 18.4 million ) . This corresponds to an adjusted EBIT margin of 7.7 per cent ( previous year : 6.5 per cent ) . The lower ratio of selling expenses and administrative expenses to Group sales was slightly margin accretive . 1