In the financial year 2016 MANN+HUMMEL has reported an increase in its sales revenue and the result before interest, tax, depreciation and amortisation has improved considerably to 334.9 million euros.
Emese Weissenbacher, CFO at MANN+HUMMEL, said: “As already announced, in the course of 2016 we were able to substantially increase our sales revenue.
“Our operating profitability is acceptable, even though the sales revenue and result are burdened by negative effects.”
Negative currency effects and value adjustments on acquisitions impaired the sales revenue and result.
The result before interest and tax at 115.7 million euros is below that of the previous year, which corresponds to an EBIT margin of 3.3 per cent – due to value adjustments made to the amount of 60 million euros.
Profitable growth
MANN+HUMMEL CEO, Alfred Weber said: “Today we already develop and produce cutting edge technology for the health and mobility of people.
“Tomorrow we will also grow profitably more and more with filtration applications in areas which are outside of the automotive sector.”
The successfully concluded acquisition in May 2016 of the filtration business of the US American Affinia Group has continued to develop satisfactorily.
The business unit primarily supplies filtration products for the heavy load sector and hydraulic applications and complements the MANN+HUMMEL range of products and brand portfolio.
Future challenges
Alfred Weber added: “MANN+HUMMEL is financially sound and has a strong technological position. We know where we want to go and we are fit for the future.”
In 2017 the acquisition of the Affinia Group will be consolidated for the first time for a full financial year.
Weber expects group sales in 2017 of approx. 3.8 billion euros and an improvement in profitability.
He said: “The future belongs to clean, intelligent and connected machines and vehicles.
“This will lead to new business areas for our company.”
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