Saft announces fourth quarter and annual sales

Battery manufacturer Saft has announced its fourth quarter and annual sales along with its earnings for the period ending 31 December 2010.

Sales in the fourth quarter grew by almost eight per cent at constant exchange rates and sales performance for the full year was ahead of the revised guidance, with 2.9 per cent growth at constant exchange rates.

At 18.3 per cent of sales, Saft’s EBITDA margin is ahead of guidance, showing a year-over-year increment reflecting gross margin improvement in both IBG and SBG divisions.

As a result, net income increased by more than 26 per cent year over year and Saft will be proposing an increased dividend of €0.70 per share to shareholders at the Annual General Meeting in May.