FRANKFURT (dpa-AFX) - The shares of SAF-Holland reacted positively on Friday to statements on the outlook from the previous day. At the end of the week, the papers of the commercial vehicle supplier went up by up to 4 percent in a persistently robust industry environment. They reached their highest level since February 2022 and have already gained more than 28 percent since an interim low that occurred shortly after Christmas.

In an initial reaction, SAF shares had still been subdued on Thursday afternoon. The group had announced at an investor event that, following the acquisition of Swedish brake manufacturer Haldex, it aims to grow by at least 20 percent in the medium term, driven by synergies, and increase its margin to between 9 and 9.5 percent.

According to analyst Jorge Gonzalez Sadornil of private bank Hauck & Aufhäuser, the potential of the merger with Haldex was confirmed at the event. He described the intended synergies as ambitious, in addition to the medium-term targets. "The combination with Haldex should make the business model more defensive," the expert stressed. He expects the sales share of highly profitable services in the aftermarket sector to increase by 5 percentage points to 35 percent.

Sector sentiment in the commercial vehicle sector has already been splendid for days as a result of a good quarterly report from US company Paccar. SAF-Holland, up almost 24 percent this year, has moved into the extended top group of the SDax. The shares of Jost Werke, another industry supplier, had recently rallied even to their record level. They gained only a moderate 0.2 percent on Friday, while shares in commercial vehicle manufacturer Daimler Truck rose 0.9 percent on the Dax. Jost and Daimler gained up to 9 percent so far in 2023./tih/ag/stk