Comment from Helene Svahn, President & CEO:
The first quarter continued to be affected by the
ongoing COVID-19 pandemic However, continuing recovery was recorded in most of our segments and markets. Haldex reported stable sales, and our cost savings programs have delivered according to plan, contributing to a sharp increase in the operating margin in line with our long-term target. Haldex significantly strengthens its presence in China by a strategic partnership in April with market leading FAST Group regarding Air Disc Brakes.
CONTINUED RECOVERY IN THE FIRST QUARTER
Net sales are back to pre-pandemic levels and totaled SEK 1,080m (1,180) in the first quarter, equivalent to an organic growth of 1 percent compared to the same period previous year. The 13 percent depreciation of the US dollar had a negative impact, as North America accounts for about 40 percent of Haldex s sales.
Haldex Interim Report January-March 2021 prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
LANDSKRONA, Sweden Haldex and FAST Group agreed to form a joint venture (JV) company to produce and sell air disc brakes (ADB) including aftersales services for truck and bus with primary focus on the Chinese market.
Owning and/ or joint ownership of more than 10 subsidiaries globally, FAST Group is the market leading Chinese manufacturer in the commercial vehicle components industry.
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The objective of the new JV is to launch a complete range of Haldex ModulT Air Disc Brakes for trucks and buses, using Haldex’s innovation, IP and technology to leverage FAST Group’s strong market position in China.