MONTUPET SA : Montupet: First quarter 2015 turnover up by 8%
Press release - Clichy, May 12 2015, 18:00
First quarter 2015 turnover up by 8%
Montupet has continued to outperform the global automotive market in the first quarter of 2015, with an increase in turnover of 8%, bringing it to 132,2 M€, as compared with 122,4 M€ a year earlier.
|in M€ - IFRS||2015||2014||Variation|
|Spain (foundry only)||16,0||16,2||-1,2%|
|United Kingdom (subgroup)||36,3||33,8||+7,4%|
Growth driven by production of parts in “low-cost” areas
Turnover generated by the production of parts came to 128,5M€ in the first quarter of 2015, up by 11,5% (+7,9% at constant exchange rates, +5,2% at constant exchange and metal values) compared with the same period in 2014. The greater part of this growth came from the most productive plants, in Bulgaria, the UK and Mexico. In Mexico, the start of production for GM in China and Korea has brought an increase in turnover of 30%, in line with expectations.
The turnover generated by the resale of tooling is relatively low in this quarter due to the schedule of tooling validation by our customers. Most of this turnover will be recognized as from the second quarter.
Outlook for growth confirmed
The level of production in April points to growth acceleration in the second quarter of this year.
Thanks to a full order book and a favourable macro-economic environment, the Group is confident in its objectives for growth of production and of profits for the full year 2015. The recovery of the American automotive market, the reduction in the cost of energy and the evolution of exchange rates (British Pound, US Dollar, and Mexican Peso) are all favourable factors for the Group.
In the longer term, visibility of activity confirms continued dynamic growth in the volumes and profitability of Montupet. The Group's technological leadership, which is increasingly renowned and indeed increasingly necessary for the development and production of new generations of engines, reinforces its capacity to win new market share, especially in North America and in Germany.
Next publication : First-half 2015 turnover, July 23, 2015, after closure of the markets.
The Montupet Group specialises in the design and production of highly-stressed cast aluminium components, principally for automotive applications. Since 1987, the Group has pursued a strategy of international development, resulting in a world-wide presence with seven production sites in France, Spain, Northern Ireland, Bulgaria, Mexico and India. Montupet is today a key supplier to global automotive manufacturers such as Renault-Nissan, VW-Audi, BMW, GM and Ford. In 2014, Group turnover came to 451,8 M€ with 3300 employees throughout the world.
Montupet is quoted in Compartment B on the Euronext Paris stock exchange and is eligible for the French PEA and PEA-PME investment products.
Montupet is part of the Next 150, CAC Mid & Small and CAC Small indices and is eligible for SRD « Long-only ».
ISIN code: FR0000037046 - Mnemo : MON - Bloomberg : MON:FP - Reuters : MNT.PA
Marc Majus, Deputy CEO
E-mail : email@example.com - Tél. : +33 (0)1 47 56 47 56
More on www.montupet.fr
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