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05-17-2011

Mann+Hummel: Results in 2010

Mann+Hummel, Ludwigsburg, Germany, recorded a 30.4% increase in sales (24.6% after elimination of currency effects) in fiscal year 2010, whilst the global automotive industry, according to the VDA (German Association for the Automotive Industry) has grown by around 8%. At the same time, EBIT rose from 23 million EUR (2009) to 149 million EUR (2010) and ROCE increased to 25.6% (2009: 3.9%). 13,201 people were employed on a permanent basis world-wide by the company at the end of 2010, which represents an increase of 12%.

In 2010, the company concentrated on the key topics of corporate culture, production/logistics and strategy and set three goals to be achieved by 2018. First, to increase sales to 3.4 billion EUR. Secondly, to realize more diversification so that the non-automotive, automotive OE and automotive aftermarket sectors each account for one third of sales. Thirdly, to achieve growth in all regions, particularly in Asia and the Americas (North and South America) so that 50% of sales are generated in Europe and 25% are recorded in both Asia and the Americas. Growth should take place organically and through acquisitions.

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