KSPG AG, which ranks among the world's 100 biggest auto industry Tier 1 suppliers, has announced record Q1/2014 sales of 666 million euros (Rs 5,344 crore), year-on-year up 64 million euros (Rs 513 crore).
23 May 2014 | 3481 Views | By Autocar Pro News Desk
KSPG AG, which ranks among the world's 100 biggest auto industry Tier 1 suppliers, has announced record Q1/2014 sales of 666 million euros (Rs 5,344 crore), year-on-year up 64 million euros (Rs 513 crore). This marks an 11 percent increase, outgrowing the 5-percent global car production gain. EBIT for the ...
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KSPG AG, which ranks among the world's 100 biggest auto industry Tier 1 suppliers, has announced record Q1/2014 sales of 666 million euros (Rs 5,344 crore), year-on-year up 64 million euros (Rs 513 crore). This marks an 11 percent increase, outgrowing the 5-percent global car production gain. EBIT for the period advanced by 20 million euros (Rs 160 crore) or 74 percent to 47 million euros (Rs 377 crore).
According to KSPG CEO Horst Binning, "The EBIT margin was therefore 7.1 percent, up from 5.1 a year ago. This increase is due to not only higher sales and an improved operating performance but also the initial savings reaped from our 2013 restructuring program."
Not included in KSPG’s sales figures, the Chinese joint ventures boosted their Q1 revenue by 24 percent to 150 million euros (on the basis of 100 percent); in comparison auto production in China climbed 10 percent.
Assuming the global auto market stays stable, KSPG says it expects total sales to range in 2014 from 2.5 billion euros to 2.6 billion euros (Rs 20,865 crore) and EBIT from 165 million to 175 million euros (Rs 1,404 crore).
With annual sales in the region of 2.46 billion euros (Rs 19,741 crore), the KSPG Group caters to a large number of global OEMs and has a workforce of almost 12,000 at 36 production locations in Europe, the Americas, Japan, India, and China.
The Group’s product portfolio includes components and assemblies for emission reduction and fuel savings; coolant, oil and vacuum pumps plus pistons, plain bearings, engines blocks, and cylinder heads. The Group also operates a global aftermarket business.
In India, the Group has its own arm, KSPG Automotive India which with KS Gleitlager operates two production sites in Pune and Ahmednagar. The product range comprises engine bearings, bushings, and thrust washers for cars and commercial vehicles as well as farming, trains and stationary engines. Among the customers are Maruti Suzuki India, Mahindra & Mahindra, Tata Motors as well as Honda, Cummins and Kirloskar Oil Engines. The aftermarket in India is also supplied with the Group’s products.