1st half-year 2012: Sales growth slows down
MANN+HUMMEL is global market leader in filtration
- Sales in the 1st half-year 2012 increase by 5.8% to 1.27 billion EUR (1st half-year 2011: 1.2 billion EUR)
- Anticipated sales over the whole year slightly above the previous year’s level
- Permanent workforce grows world-wide by approximately 5%
- Market research institute Freedonia identifies MANN+HUMMEL as global market leader in filtration
Ludwigsburg, 12th September 2012 – MANN+HUMMEL grew by around 5.8% in the first half of 2012. The half-year sales of the Group amounted to 1.27 billion EUR (previous year: 1.2 billion EUR). The number of permanent staff world-wide also increased by approximately 5% over the same period, to 15,000. Results (EBIT) were designated as satisfactory by the Company.
‘Business development at MANN+HUMMEL essentially reflects the general economic situation and trends in the automotive industry, our core sector. Growth has been recorded primarily in the USA, Brazil, Asia and eastern Europe’, explained Manfred Wolf, President & GM, MANN+HUMMEL. ‘Group sales are slightly down in Europe, basically due to weak growth in the French, Italian and Spanish markets. Trends in the aftermarket sector are positive to date, though here too, there has been weakness in the southern European markets. Good news rarely comes from Europe these days’.
Outside the Eurozone, global economic growth continues. MANN+HUMMEL has strategically extended its
international presence and has been able to benefit from this trend.
For MANN+HUMMEL, high demand in the automotive and mechanical engineering sectors in the growth markets of Asia and backlog demand in the USA offset the decline in western Europe. The Company expects to record sales of approximately 2.5 billion EUR in 2012 (previous year: 2.47 billion EUR).
The powerful MANN-FILTER brand, which was relaunched at the beginning of the year, took centre stage at the Automechanika exhibition in Frankfurt. ‘MANN-FILTER will provide even more added value for our customers. All our efforts in marketing and sales have really paid off, and our customers recognise our achievements in a different format’, the President & GM reported.
The independent market research institute Freedonia in the USA affirmed MANN+HUMMEL’s leadership in filtration this year.
The latest study, covering the total market for filtration applications world-wide, places the filter expert in the top position. In the highly fragmented filtration market, there are many competitors jostling for position, each gaining only a single-digit market share. With a 4.1% market share in terms of turnover, MANN+HUMMEL is in first place. The institute values the total market in 2010 at around 38 billion EUR and forecasts annual growth rates of approximately 7% until 2020. The regions listed as growth drivers by Freedonia are Asia-Pacific, South America/NAFTA, Africa/Middle East and eastern Europe. MANN+HUMMEL is a much sought-after development partner and supplier in these growth regions.
The extensive network of European distributors in the independent aftermarket TEMOT presented MANN+HUMMEL with the Supplier of the Year award.
In Russia, MANN-FILTER received the ‘Best filter brand for foreign vehicles’ award for the second year in succession, a clear winner, gaining 27% of the votes.
In April, members of the ADI (Auto Distribution International) organisation named Petra Engels, Head of MANN-FILTER sales, ‘Aftermarket Professional of the Year’. This was the first time that the award had been presented to a representative from the supply industry.
Regional variations in the business development of the MANN+HUMMEL Group will continue over the medium term. Looking to the second half of the year, Manfred Wolf said: ‘We are monitoring our sales markets very closely. The economic situation in most markets is characterised by uncertainty. We have prepared ourselves for various scenarios, but we have certainly adapted ourselves for weaker business trends’.
It is the objective of the MANN+HUMMEL Group to increase sales from 2.5 billion EUR (2011) to at least 3.4 billion EUR by 2018, with North and South America and Asia each generating 25%. In May 2012, for example, the filtration specialist opened its fourth production facility in China, in Liuzhou, commissioned an additional production line at its plant in Jinan and started to extend the plant in Changchun. Finally, the Group took over the well-established Chinese filter manufacturer Bengbu Haoye in August 2012 with more than 500 employees.
Around 800 R+D personnel work for the MANN+HUMMEL Group world-wide, developing filtration solutions for industrial, automotive and water-related applications. The German Patent and Trademark Office (DPMA) includes MANN+HUMMEL in its list of most active German patent applicants. In 2011, the filtration specialist filed 111 patents in Germany. Innovations are a key factor for the competitiveness of the MANN+HUMMEL Group and it is through innovations that the Company has achieved market leadership.
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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 14,338 people at more than 50 locations worldwide, the company achieved turnover of about 2.5 billion euros in 2011. The group’s product portfolio includes air filter systems, intake manifold systems, liquid filter systems, cabin filters and cylinder head covers made of plastic with many integrated functions for the automotive industry, as well as filter elements for vehicle servicing and repair. For general engineering, process engineering and industrial manufacturing sectors the company’s product range includes industrial filters, a series of products to reduce carbon emission levels in diesel engines, membrane filters for water filtration and filter systems.