SHW AG on target as Powder Metallurgy sales increase 8%
February 24, 2016
Germany’s SHW AG, a leading automotive supplier of automotive pumps, engine components and brake discs, has published its preliminary, unaudited key performance indicators for the fiscal year 2015.
“We achieved major progress in the final stage of the fiscal year,” stated Dr Frank Boshoff, Chief Executive Officer of SHW. “We reduced the tailbacks further in the Powder Metallurgy at our Aalen-Wasseralfingen plant and in the pump assembly at our Bad Schussenried plant. I am positive that the measures to enhance capacity at our Aalen-Wasseralfingen plant will be implemented by the end of the first quarter 2016 as scheduled, thereby sustainably enhancing our profitability in the Pumps and Engine Components business segment.”
Due to the lasting high level of customer call-offs, particularly in the Pumps and Engine Components business segment, in the fiscal year 2015, SHW stated that it was once again able to disconnect itself from the general market trend and boost its group sales by 8% to €463.5 million (previous year: €430.0 million). Incoming orders at the group’s domestic companies totalled €445.0 million, almost reaching the previous year’s record amount of €453.5 million.
Adjusted consolidated earnings before interest, taxes, depreciation and amortisation (adjusted EBITDA) improved by 7% from €40.6 million to €43.5 million and was therefore within the target range of €42 million to €46 million publicised last September. The corresponding margin of 9.4% was at the previous year’s level. The reported net income for the year was €14.4 million, an increase of 34% on the previous year’s figure of €10.7 million.
Efficiency programmes in Powder Metallurgy and pump assembly deliver initial successes
The Pumps and Engine Components business segment recorded an increase in sales of 9% to €365.2 million in the fiscal year 2015 (previous year: €333.6 million). Sales in its Passenger Car division grew by 13% to €306.6 million (previous year: €272.0 million) due to strong customer demand for variable oil/vacuum pumps, electrical auxiliary pumps for the start-stop function and camshaft phasers. The Industry division contributed €27.7 million to sales (previous year: €29.8 million). The Powder Metallurgy division boosted its total sales (including internal sales) in the fiscal year 2015 by 8% from €53.1 million to €57.5 million.
