SHW AG / Key word(s): Preliminary Results/Quarter Results PRESS RELEASE SHW AG reports very pleasing development in sales and order intake for the second quarter of 2013 - Group sales [1] up by 7.1% to EUR 91.6 million in Q2 - At EUR 96.8 million, order intake increased by 11.8% compared to the same quarter of the previous year - Margin improvement [2] expected for Q2 compared to Q1 2013 Aalen, 4 June 2013. Today, SHW AG, one of the leading automotive suppliers of CO2-relevant pumps and engine components, as well as brake discs, published its provisional sales and order intake figures for the second quarter and first half-year of 2013. The business development during the second quarter of 2013 was once again marked by the ongoing difficult market environment in Europe. Nevertheless, as a result of new product launches and a shift of the product mix towards more complex pumps, SHW AG was able to continue to uncouple from the negative market trend, achieving Group sales of EUR 91.6 million which is equivalent to a 7.1% rise in sales. In the second quarter of 2013 sales in the Pumps and Engine Components business segment were up by 8.7% compared to the previous year to EUR 68.3 million (2012: EUR 62.9 million) due to new product launches and an increasing demand for gearbox and variable oil pumps. Sales in the Brake Discs business segment rose by 2.7 per cent in the second quarter of 2013 to EUR 23.3 million (2012: EUR 22.7 million) as a result of a significant increase in sales of composite brake discs compared to the same period in the previous year. Pleasing development in order intake Development in order intake remained very positive. At Group level, the company was able to record an increase in order intake of 11.8% to EUR 96.8 million for the second quarter of the year, with order intake for the Pumps and Engine Components business segment rising by 14.1% to EUR 73.2 million and the Brake Discs business segment recording an increase of 5.2% to EUR 23.5 million.
Besides the appointment of Dr Thomas Buchholz as the new CEO, SHW has managed to further strengthen the management team of the Pumps and Engine Components business segment. The company was able to acquire Mr Erwin Gößwein, the new Head of Passenger Cars as of 1 July 2013 from ixetic GmbH, a subsidiary of Magna Powertrain, one of SHW's major competitors on the market. Mr Peter Klomann, another former ixetic manager joined the company as Head of Quality Management for the Pumps and Engine Components business segment as of 1 June 2013. Margin improvement expected for the second quarter compared to the first quarter of 2013 During the second quarter of this year SHW has managed to get the problems associated with last year's launch of an oil/vacuum pump more or less under control. Consequently, no further exceptional charges worth mentioning occurred. The two product launches in the Passenger Car division (variable oil pump with balancer shaft unit, gearbox pump) during the first half-year of 2013 proceeded consistently stable and on schedule. SHW is planning to launch two further oil/vacuum pumps over the next six months which will be used in new 3-cylinder engines of two well-known European automobile manufacturers, meaning that SHW will be able to expand its leading technology position with these complex engine oil pumps further. Very good progress has been made during the second quarter of the year in stabilising the SAP software which was introduced at the turn of the year. Here, too, no further exceptional charges occurred in the second quarter of 2013. Overall, the Management Board is expecting an improvement in the EBITDA margin for the second quarter 2013 compared to the 9.4%, the figure recorded for the first quarter of the year. The final key financial figures for the first six months of 2013 will be published on 6 August. ___[1] STT Technologies Inc., which until the end of October 2012 had been included in the consolidation on a pro-rata basis, has now, further to its sale, been classified as a 'discontinued operation' within the meaning of IFRS 5. Sales and orders for the second quarter and first six months of 2012 were adjusted accordingly. [2] Sales in relation to Group earnings before interest, taxes and depreciation of tangible assets and amortisation of intangible assets (adjusted EBITDA): Q2/2013: EUR 0.7 million one-off costs as a result of changes to the management board. ___ About SHW The enterprise was established in 1365, making it one of the oldest industrial enterprises in Germany. Today, SHW AG is a leading automotive supplier with products that contribute substantially to a reduction of fuel consumption and consequently CO2 emissions. In its Pumps and Engine Components business segment, the SHW Group develops and produces pumps for passenger cars and truck and off-highway applications, e.g. trucks, agricultural and construction vehicles, stationary motors and wind power stations. The Brake Discs business segment develops and produces monobloc ventilated brake discs made of cast iron and lightweight brake discs made from a combination of an iron friction ring and an aluminium pot. Customers of the SHW Group include leading European and North American automobile manufacturers, manufacturers of commercial, construction and agricultural vehicles and other automotive suppliers. The SHW Group currently has four manufacturing sites in Germany, located in Bad Schussenried, Aalen-Wasseralfingen, Tuttlingen-Ludwigstal and Neuhausen ob Eck. With slightly more than 1,000 employees, the SHW Group generated sales from continuing operations in 2012 of EUR 325 million. Further information is available at: www.shw.de Contact person Future-oriented statements Note End of Corporate News 04.07.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | SHW AG | |
Wilhelmstrasse 67 | ||
73433 Aalen-Wasseralfingen | ||
Germany | ||
Phone: | +49 7361 502-1 | |
Fax: | +49 7361 502-421 | |
E-mail: | info@shw.de | |
Internet: | www.shw.de | |
ISIN: | DE000A1JBPV9 | |
WKN: | A1JBPV | |
Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Stuttgart | |
End of News | DGAP News-Service |
219783 04.07.2013 |