SAF-HOLLAND
SAF-HOLLAND - More.de AG
SAF-HOLLAND - More.de AG
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Underlying Markets – Truck Production<br />
Truck Production in Europe<br />
’000 Units<br />
Truck Production in North America<br />
’000 Units<br />
500<br />
CAGR 05-11: 4.0%<br />
500<br />
400<br />
CAGR 05-11: 0.3%<br />
400<br />
300<br />
300<br />
2004 2005 2006 2007 2008 2009 2010 2011<br />
200<br />
2004 2005 2006 2007 2008 2009 2010 2011<br />
Source<br />
JD Power<br />
Source<br />
Global Insight<br />
Commentary<br />
Government incentives and increasing<br />
volumes of exports to other regions have a<br />
smoothing effect on EU market<br />
Less than 15% of <strong>SAF</strong>-<strong>HOLLAND</strong> sales<br />
linked to North American truck OEM market<br />
Early visibility on regulatory cycle, production<br />
can and has been adjusted accordingly<br />
Specialty applications are significantly less<br />
cyclical<br />
2007 – 2008 Observations<br />
Europe continues to perform strongly driven<br />
by EU expansion, growth in Russia and<br />
rebound of German economy – expected to<br />
continue through 2008<br />
Order backlog for products in Europe is at an<br />
all time high with visibility well into 2008<br />
Regulatory downturn in US truck market<br />
happened as expected in 2007<br />
Significant growth expected in US through<br />
2008 as pre-buy for 2010 regulatory cycle<br />
36 <strong>SAF</strong>-<strong>HOLLAND</strong> CMD Updated 7 January 2008
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