MANN+HUMMEL compensates for weak economy
• Turnover in first half of 2013 rises to 1.35 billion euros
• Turnover for 2013 expected to be slightly above previous year
• Core workforce increases, also due to company acquisitions
• EBIT result remains below expectations
Ludwigsburg / Frankfurt, 11th September, 2013 – in the first half 2013, the MANN+HUMMEL Group (www.mann-hummel.com), with headquarters in Ludwigsburg, enjoyed growth of approx. 2.7% and achieved a turnover of 1.35 billion euros (previous year, 1.31 billion euros). The core workforce rose to more than 15,000, especially due to company acquisitions outside Europe. The filtration specialist is meeting higher price pressure with the presentation of new products at the Frankfurt Motor Show (IAA).
"In comparison to previous years our growth has slowed down. The reason for this is the development of the global automotive industry. This is where we achieve the greater part of our turnover", explains Manfred Wolf, Managing Director at MANN+HUMMEL. "The launch of new products, however, has at least enabled us to partly counter the economic trend and grow organically in the face of difficult market conditions."
Price and competitive pressure
Due to the increase of price and competitive pressure, also in regions with strong growth, margins have simultaneously gone down. This is reflected by the expected result (EBIT), which according to Wolf remains below expectations. The one-off effects of acquisitions have also contributed to the adverse effect on the result.
New products to fight shrinking margins
"Our answer to shrinking margins is innovation. We expect a considerable improvement in the result once our new products have established themselves on the market", says Wolf. "MANN+HUMMEL should also benefit disproportionately from a market recovery in 2014."
MANN+HUMMEL will show its latest developments at the Frankfurt Motor Show, which include:
- An intake manifold with fully-integrated intercooler and innovative charge-air line which saves weight, costs and interfaces and provides an ideal lightweight solution for turbocharged petrol engines.
- The pioneering sound application "Active Noise Control" (ANC) which opens up great opportunities for car producers with respect to sound design and saves space in the engine compartment. ANC is suitable for applications with conventional combustion engines and also hybrid vehicles.
- A new air filter element with variable pleat height which opens up new perspectives for the development of air cleaners. This world première can easily be adapted to almost all kinds of installation space and in comparison to conventional solutions offers a lower pressure drop and a higher dust holding capacity.
- A three-stage fuel filter element for the filtration of modern low-sulphur diesel fuels containing biofuels and additives which achieves a separation efficiency of over 90% for the complete length of the service interval of the filter element.
- A highly functional modular series for low pressure exhaust gas recirculation (EGR) which enables the individual adaptation of the functions of a module to the specifications and installation space requirements of the customer.
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The MANN+HUMMEL Group is a leading global expert for filtration solutions and development partner and original equipment supplier to the international automotive and mechanical engineering industries. Employing 14,575 people at more than 50 locations worldwide, the company achieved turnover of approx. 2.6 billion euros in 2012. The group's product portfolio includes air cleaner systems, intake manifold systems, liquid filter systems, cabin filters and plastic components for sound design, so-called symposers, and filter elements for the servicing of motor vehicles. For general engineering, process engineering and industrial applications the company's product range includes industrial filters and membrane filters for water filtration and filter systems.