Performance By Business Division


FILTRATION BUSINESS UNIT

The following tables show the key results and economic indicators of the Filtration business unit for the year 2015 and the three previous years.

KEY ECONOMIC DATA

(in millions of Euro) 2012 2013 2014 2015 Change '15 vs '14
Sales revenues 453,0 468,6 473,7 536,4 13,2%
EBIT 18,8 22,3 28,4 32,2 13,5%
% of sales revenues 4,2% 4,8% 6,0% 6,0%  

KEY FINANCIAL DATA

(in millions of Euro) 2012 2013 2014 2015 Change '15 vs '14
Net Assets 114,3 94,5 97,5 119,7 22,9%
Net financial surplus (indebtedness) 11,4 12,1 13,5 11,1 -17,9%

OTHER INDICATORS

  2012 2013 2014 2015 Change '15 vs '14
Number of empoyees 2,917 2,794 2,751 2,629 -4,4%

In 2015, the Filtration business unit revenues grew by 13.2% (+10% exchange rates being equal) to Euro 536.4 million compared to 2014. During the period under consideration, the business unit benefited from business growth in the USA, China and India and from the positive performance of original equipment segment in Europe. Revenues in South America fell as a result of exchange rate trends and persistently sluggish markets.

EBIT was Euro 32.2 million (Euro 28.4 million in 2014; +13.5%). EBIT before non-recurring items rose to Euro 36.2 million (from Euro 31.7 million in 2014), with a ratio to sales stable at 6.7% compared to 2014.

As of December 31, 2015, Net assets amounted to Euro 119.7 million compared to Euro 97.5 million at the end of 2014, whereas net financial position recorded a surplus of Euro 11.1 million versus Euro 13.5 million as of December 31, 2014.

The business unit workforce decreased from 2,751 units at the end of 2014 to 2,629 units at the end of 2015.

 

SUSPENSION BUSINESS UNIT

The following tables show the key results and economic indicators of the Suspensions business unit for the year 2015 and the three previous years.


KEY ECONOMIC DATA

(in millions of Euro) 2012 2013 2014 2015 Change '15 vs '14
Sales revenues 528,6 518,6 506,6 558,0 10,1%
EBIT 32,3 35,7 18,2 35,4 94,7%
% on sales revenues 6,1% 6,9% 3,6% 6,3%  


KEY FINANCIAL DATA

(in millions of Euro) 2012 2013 2014 2015 Change '15 vs '14
Net Assets 142,2 121,2 106,8 108,6 1,6%
Net financial surplus (indebtedness) (45,2) (57,7) (64,7) (60,1) 7,1%


OTHERS INDICATORS

  2012 2013 2014 2015 Change '15 vs '14
Number of employees 2,571 2,714 2,582 2,663 3,1%

The Suspensions business unit closed 2015 with revenues up 10.1% (+9.2% exchange rates being equal), at Euro 558 million (Euro 506.6 million in 2014), benefiting from the business expansion in all geographical areas and in particular of the positive momentum of the passenger car business in Europe and China and from an increased market share in South America.

EBIT was Euro 35.4 million (Euro 18.2 million in 2014); EBIT before non-recurring items rose to Euro 36.8 million (up 19.9% from Euro 30.7 million in 2014), with a ratio to sales of 6.6% up from the 6.1% recorded in 2014.

Net assets as of December 31, 2015 amounted to Euro 108.6 million (versus Euro 106.8 million at the end of 2014), whereas net financial position recorded an indebtedness of Euro 60.1 million versus 64.7 million at the end of 2014.

The business unit workforce at the end of 2015 increased to 2,663 units from 2,582 units as of December 31, 2014.

 

 

AIR&COOLING BUSINESS UNIT

The following tables show the key results and economic indicators of the Air&Cooling business unit for the year 2015 and the three previous years.

KEY ECONOMIC DATA

(in millions of Euro) 2012 2013 2014 2015 Change '15 vs '14
Sales revenues 339.8 351.8 374.3 409.3 9,3%
EBIT 14.6 7.7 14.2 (2.5) -117,7%
% on sales revenues 4,3% 2,2% 3,8% -0,6%  


KEY FINANCIAL DATA

(in millions of Euro) 2012 2013 2014 2015 Change '15 vs '14
Net Assets 102.0 104.8 112.6 103.7 -7,9%
Net financial surplus (indebtedness) 22.6 46.4 56.5 34.6 -38,9%


OTHER INDICATORS

  2012 2013 2014 2015 var.'15 vs '14
Number of employees 1,174 1,253 1,263 1,350 6,9%

In 2015, the Air&Cooling business unit revenues grew by 9.3% (+7.5% exchange rates being equal) to Euro 409.3 million compared to 2014. During the period under consideration, the business unit benefited from the positive performance in non-European markets, North America and China for the most part.

EBIT was Euro -2.5 million (versus Euro 14.2 million in 2014). EBIT before non-recurring items totalled Euro 11.2 million (Euro 21 million in 2014).

Net assets as of December 31, 2015 amounted to Euro 103.7 million (versus Euro 112.6 million at the end of 2014), whereas net financial position recorded an indebtedness of Euro 34.6 million versus 56.5 million at the end of 2014.

The business unit workforce at the end of 2015 increased to 1,350 units from 1,263 units as of December 31, 2014.