Metaldyne Performance Group reports sales up 42%

May 13, 2015

Metaldyne Performance Group Inc. (MPG), parent company of Powder Metallurgy parts maker Metaldyne LLC, has announced first quarter 2015 net sales of $765.2 million, compared to $540.5 million in Q1 of 2014, representing a year-over-year increase of 42%.

MPG, formed from a merger of HHI Holdings, Grede Holdings and Metaldyne LLC in 2014, reported that gross profit of $128.5 million for the quarter was $45.3 million higher than in 2014, an increase of 54%, with net income at $32.6 million.

Commenting on the company’s results, George Thanopoulos, Chief Executive Officer of MPG, stated, “During the first quarter we actively managed our business to account for the recent metals market fluctuations and FX changes, resulting in strong Adjusted EBITDA, Adjusted EBITDA margins and Adjusted Free Cash Flow. Additionally, we took several actions to drive value creation, namely our continued reinvestment in the business, the declaration of our first dividend, the voluntary pre-payment of debt and, finally, seeking a debt refinancing to reduce cash debt service. These actions highlight MPG’s cash flow model and its ability to provide a balanced approach to value creation.”

For fiscal 2015 MPG re-affirmed the guidance provided earlier in the year. It estimates net sales of between $3.0 and $3.15 billion, adjusted EBITDA between $520 and $560 million and capital expenditures between $210 and $220 million.

www.mpgdriven.com  

 

 


Subscribe to our FREE e-newsletter

Register to receive our FREE e-newsletter and a complimentary digital subscription to Powder Metallurgy Review magazine.

Useful links: Download PM Review magazine | News headlines | Browse articles 



 

Powder Metallurgy Review magazine cover

In the latest issue of PM Review…

Download PDF

Extensive Powder Metallurgy industry news coverage, and the following exclusive deep-dive articles and reports:

  • Hot Isostatic Pressing for the production of large, near-net shape components
  • Safeguarding PM part usage in a new automotive industry
  • How to make metal powders., Part 3
  • Company profile: Jiangxi Yuean Advanced Materials

The latest news from the world of metal powders, delivered to your inbox

Don't miss any new issue of PM Review, and get the latest industry news. Sign up to our weekly newsletter.

Sign up

From the industry…

Discover our magazine archive…

The free-to-access PM Review magazine archive offers unparalleled insight into the world of Powder Metallurgy from a commercial and technological perspective through:

  • Reports on visits to leading PM part manufacturers, metal powder manufacturers and industry suppliers
  • Articles on technology and application trends
  • Information on materials developments
  • Reviews of key technical presentations from the international conference circuit
  • International industry news

All past issues are available to download as free PDFs or view in your browser.

 

Browse the archive

 

Looking for PM production equipment, metal powders, R&D support and more?

Discover suppliers of these and more in our
advertisers’ index and buyer’s guide, available in the back of PM Review magazine.

  • Powders & materials
  • Powder process, classification & analysis
  • PM products
  • Atomisers & powder production technology
  • Compaction presses, tooling & ancillaries
  • Sintering equipment & ancillaries
  • Post-processing
  • Consulting & toll sintering
Download PDF
Share via
Copy link