Federal-Mogul reports full-year 2016 results
February 27, 2017
Federal-Mogul Holdings LLC, headquartered in Southfield, Michigan, USA, has announced financial results for the full year ended December 31, 2016. The company reported net sales were $7,434 million, a $15 million increase compared with the prior-year period. Sales from acquired businesses, as well as higher organic OE sales in both divisions, were largely offset by $107 million of negative impact from currency exchange rate fluctuations.
Net income from continuing operations attributable to Federal-Mogul for the full-year 2016 was $82 million compared with a net loss from continuing operations attributable to Federal-Mogul of $117 million in 2015. Adjusted net income for full-year 2016 was $141 million.
Operational EBITDA for full-year 2016 was $744 million (10.0% of net sales), an increase of $100 million (+16%) compared to 2015, including a $12 million negative impact from currency exchange rate fluctuations.
Powertrain Division
Federal-Mogul’s Powertrain division reported revenue of $4,463 million, $13 million higher than in 2015. The year-over-year comparison was impacted by $57 million of negative currency exchange. In constant dollars, revenue increased by $70 million or 1.6%. Operational EBITDA for full-year 2016 was $473 million compared to $428 million in the prior year.
Motorparts Division
Federal-Mogul’s Motorparts division reported revenue of $3,215 million for the full year, compared to $3,253 million in the prior-year period, including $50 million of negative impact from currency exchange rate fluctuations. EBITDA was $271 million compared to $216 million in 2015.
