register free | resend password


Growth in sales and earnings

Rheinmetall Automotive with figures for the first nine months

ID: 1471946
recent pressrelease next pressrelease

(PresseBox) - For the first nine months of 2016, auto-industry supplier Rheinmetall Automotive reports sales of ?1,992 million, up 2 percent on 3Q/2015. Horst Binnig, CEO of Rheinmetall Automotive, comments: "Our sustained growth in sales, in the third quarter as much as 4 percent, has shown once again that our portfolio is well matched to the current requirements of the international auto-industry markets. We will utilize our success in further expanding this sound position with respect to systems for powering the cars of tomorrow. Our profitability, which continues to be high, is assisting our efforts." For the period under review, Rheinmetall reports an EBIT of ?163 million and an operating margin of 8.2 percent, again slightly above the 8-percent target.
The increase in sales is driven by the Mechatronics and Aftermarket divisions. The former continued to grow and raised sales to ?1,141 million (up 5 percent). The Aftermarket division generated sales of ?225 million (up 4 percent). Currently weak demand for large-bore pistons and the ongoing sharp decline in auto production in Brazil depressed sales by Hardparts from ?727 million in 2015 to ?699 million.
Not included in the sales figures of the Automotive sector are the joint ventures in China, which in the course of 3Q/2016 boosted sales by 6 percent from ?587 million to ?620 million. The wholly owned subsidiaries in China stepped up their sales by 16 percent to ?74 million.
For all of 2016, Rheinmetall Automotive is re-affirming its sales forecast of around ?2.7 billion. In addition, the Company expects profitability to remain on a stable trend, with an operating margin of around 8 percent.



More information:
http://www.realwire.com/releases/How-Do-You-Protect-Your-Perimeter-When-Youve-Blown-it-to-Pieces http://www.ceresana.com/en/market-studies/industry/plastic-injection/ http://www.airwheel.net http://www.realwire.com/releases/Managed-Services-Hosting-Summit



Keywords (optional):



Company information / Profile:

PressRelease by

Requests:



PressContact / Agency:



published by: PresseBox
print pressrelease  send to a friend  

Date: 11/24/2016 - 12:20
Language: English
News-ID 1471946
Character count: 7030
Kontakt-Informationen:
Firma: Rheinmetall Automotive AG
Ansprechpartner: Feedback to businesspress24.com about Pressrelease-id:
Stadt: Neckarsulm
Telefon:

Meldungsart:
Versandart:
Freigabedatum:
Comments:



Number of hits: 226

Linking-Tips:



Direct Link to this PressRelease:






We would appreciate a link in your News-, Press- or Partner-Site.

Comments on this PressRelease






All members: 8 919
Register today: 0
Register yesterday: 0
Members online: 0
Guests online: 57


Don't have an account yet? You can create one. As registered user you have some advantages like theme manager, comments configuration and post comments with your name.