MANN+HUMMEL’s highest ever turnover in 2019 puts it in strong position to face COVID-19 effects

Group to continue 'transformation strategy'

MANN+HUMMEL’s highest ever turnover in 2019 puts it in strong position to face COVID-19 effects
The MANN+HUMMEL Group provide filtration solutions and original equipment supplier to the international automotive and mechanical engineering industries.

The MANN+HUMMEL Group achieved its highest ever turnover in 2019, rising to EUR 4.2 billion.

Both the transportation and life sciences and environment business segments contributed to this positive development.

Despite challenging conditions arising from factors including Brexit, trade disputes and mobility change, operating earnings before interest and taxes (EBIT) in 2019 were significantly higher than in the previous financial year.

The EBIT rose by EUR 59.7 million or 63.9 percent to EUR 153.3 million. In connection with the 2019 restructuring program, expenses for severance payments of EUR 44.9 million were incurred.

Adjusted for these expenses, the operating result was EUR 198.2 million.

In 2018, sales revenues amounted to EUR 3.9 billion with an EBIT of EUR 93.6 million.

Kurk Wilks, president and CEO of the MANN+HUMMEL Group, said: “For MANN+HUMMEL, 2019 was a challenging year, yet one that we were able to end with a very positive operating profit.

“This year will certainly not be easy either due to the economic consequences of COVID-19, but we are on a sound financial footing.

“We will do everything to ensure that the company has a sustainable future while at the same time consolidating our role as leaders in the filtration sector.”

MANN+HUMMEL expects the financial year 2020 to be affected by the financial crisis precipitated by the COVID-19 pandemic.

“Nevertheless, we do not currently foresee any liquidity bottlenecks or other existential risks arising due to the crisis,” said Emese Weissenbacher.

“MANN+HUMMEL will continue with its transformation strategy and continue to invest in restructuring, new strategic business fields, research & development in the area of highly innovative filtration solutions as well as in digitalisation.”

For further information about MANN+HUMMEL, select ‘more details’ below.

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