SHW AG sales grow despite decline in European vehicle production
January 21, 2013
SHW AG has reported sales in financial year 2012 will be at the upper end of the groups projected €318-325 million figure. According to preliminary calculations, consolidated sales from continuing operations (excluding STT) improved by 2.5% to €325 million.
Thanks to production start-ups and growing sales contributions from variable oil pumps and start-stop pumps, the group’s Pumps and Engine Components business segment reported a 5.7% increase in sales to €238 million (previous year: €225 million). As expected, the Brake Discs business segment couldn’t realize the previous year’s sales level of €92.2 million and generated total sales of €87 million.
“Despite the considerable decline in European vehicle production, we were able to stay on our growth track and to reach the upper end of the target corridor thanks to our CO2-relevant products and advantageous customer structure,” stated CEO Dr Wolfgang Krause, who is in charge of the Pumps and Engine Components business segment. While the market conditions in Europe remain difficult, SHW projects continued growth for the financial year 2013.
Posted by: Paul Whittaker, Editor ipmd.net, [email protected]
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