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Eberspaecher has a solid 2018 fiscal year

Auto News - Published on Fri, 24 May 2019

Image Source: Eberspaecher
In 2018, the Eberspaecher Group increased its consolidated revenue to around EUR 4.6 billion and achieved a net income of EUR 53.4 million. This development was primarily due to increased sales volumes in the North American and Chinese automobile and commercial vehicle markets. The operationally successful business year was impacted by expenses for restructuring measures. For the current year, the Esslingen-based automotive supplier expects revenue to remain at the same level and to further improve the consolidated result.

The Esslingen-based automotive supplier increased its consolidated revenue by 2.9% to EUR 4,610.4 million last year. Mr Heinrich Baumann, Managing Partner of the Eberspaecher Group said that “We can look back on an operationally successful year and we are satisfied with the overall result. We were able to inspire our customers with new technologies for the megatrends of e-mobility, autonomous driving and connectivity. And more than ever, our emission control systems are in demand worldwide for more stringent emission standards.”

The consolidated result was impacted by expenses for restructuring measures of EUR 36.1 million, in particular provisions to secure the future of the Saarland exhaust technology plant in Neunkirchen. However, these will trigger positive income development in the medium term.

In the past year, the Group made targeted investments in the further development of its product portfolio and customer portfolio. Research and development expenses were slightly over the previous year’s level at EUR 162.4 million (previous year: EUR 156.5 million). The annual average number of employees increased to 9,862 employees (+3.9%). Mr Heinrich Baumann points out that “Our employees are key to the Company´s success they are a particular focus of our Corporate Strategy. We invest in promoting their professional, personal and social skills.” Looking at the current fiscal year, Baumann concludes that “A sideward trend is expected for 2019 in view of uncertainties regarding overall economic developments. This means that our revenues will remain at a constant, high level. In addition, we plan to invest more as we set up new production facilities in China, India and Mexico. For the subsequent years, we expect continuously increasing revenues and results. ”

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Posted By : Ratan Singh on Fri, 24 May 2019
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