Rheinmetall Automotive again enhanced its business volume in an increasingly challenging market environment in 2018, generating sales of €2,930 million, an increase of €69 million or 2.4% compared with the previous year. When adjusted for currency effects, the growth is 4.2%. By comparison, the global production of light vehicles declined by 1.1% in 2018.
Operating result of Rheinmetall Automotive (EBIT before special items) came to €262 million for the last fiscal year, a new record in the company’s history. This is growth of €13 million or 5% compared with the previous year’s figure of €249 million.
The sector’s operating margin rose to 8.9% (previous year: 8.7%), which also represents a new record.
Rheinmetall Automotive CEO Horst Binnig commented: “In 2018, our company was once again able to outpace an international market clouded by new challenges. The sustainability of the measures initiated in recent years in our international network of locations, our product portfolio and Rheinmetall Automotive’s strategic focus is rewarded not least in a new all-time earnings high.”
All three divisions once again recorded year-on-year sales growth. Declining demand for diesel products for the light vehicles market was offset, among other things, by new product launches and growth in business with other product groups (including commercial diesel systems, large-bore pistons and gasoline drives).
Sales of the Mechatronics division rose by 2.7% to €1,664 million in 2018, owing to a further increase in demand from automotive manufacturers for solutions to reduce fuel consumption and emissions and dynamic growth in business with commercial vehicles. The Hardparts division expanded its sales by 2.2% to €989 million, largely owing to the positive development of business with large-bore pistons and pistons for trucks and off-road vehicles. The Aftermarket division expanded its worldwide replacement parts business by 2.2% to €367 million.
The regional distribution of sales for fiscal 2018 remained virtually unchanged year-on-year. The share of sales generated with customers abroad totaled 80% (previous year: 81%).
The joint ventures operated with a Chinese partner in China and Germany are accounted for using the equity method and are therefore not included in the sales of Rheinmetall Automotive. Sales of these companies totaled €1,193 million in fiscal 2018, which corresponds to a year-on-year growth of 2.6%, or 4.4% after adjustment for currency effects.
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SOURCE: Rheinmetall Automotive
