Increased sales reported at SHW
February 17, 2014
SHW AG has published preliminary results for 2013 showing a 12.4% increase in group sales to €365.6 million. The automotive supplier, a leading manufacturer of pumps and engine components as well as brake discs stated that EBITDA climbed 5.3% to €35.7 million.
“Thanks to our innovative product portfolio, we have been able to reach our sales and earnings targets although vehicle output in Europe stagnated compared to the previous year,” stated CEO Dr Thomas Buchholz, who is responsible for the Pumps and Engine Components business segment.
Sales growth in 2014 projected to exceed market average
SHW reported a good start into the new fiscal year 2014. At €32.0 million, Group sales in January were up by 20.3% on the previous year’s €26.6 million. The positive trend for fuel- efficient pumps continued in the Pumps and Engine Components business segment, which generated €24.3 million in sales (previous year: €19.7 million). Sales in the Brake Discs business segment rose by 11.8% to €7.7 million.
Based on the assumption that the order situation remains stable, SHW projects Group sales of between €380 million and €400 million for fiscal year 2014. Due to planned production start-ups and a shift in the product mix towards more complex pumps, sales in the Pumps and Engine Components business segment should come in between €287 million and €305 million. In the Brake Discs business segment, the aim is to increase the percentage of processed brake discs and higher-value composite brake disks to generate sales of between €93 million and €95 million.
In 2014 the Management Board will focus especially on winning new orders, optimising the logistic and operational business processes at all locations and growing the business in Brazil, China and North America. If the planned sales growth is achieved, the company projects consolidated earnings before interest, tax, depreciation and amortisation (adjusted EBITDA) of between €38 million and €40 million.