Swedish supplier Haldex stated fourth quarter 2021 (Q4) revenue improved 19% yr on calendar year to SEK 1,191m.
Modified functioning earnings of SEK60m (down from 66m) was equal to an altered running margin of 5% (6.7%).
Documented running revenue rose from SEK44m in Q4 2020 to SEK54m owing to non-recurring expenditures of SEK6m (22m).
Haldex reported its structural personal savings programmes experienced formulated according to plan and reduced expenditures by SEK 20m.
While the board up to date the growth goal, declaring Haldex ought to see natural growth a lot quicker than the company’s close markets it proposed no dividend be paid for comprehensive calendar year 2021.
Complete Calendar year 2021
Entire yr income rose 21% to SEK4,612m (4,007m), altered running revenue improved to SEK357m (163m), equal to an adjusted working margin of 7.7% (4.1%).
The structural savings programmes minimized fees by SEK154m for the full 12 months. Non-recurring fees of SEK16m (263m) negatively influenced the whole 12 months end result.
In a statement, president & CEO Jean-Luc Drive stated: “The Americas and Europe claimed potent organic profits progress of 24% and 25% respectively, though Asia had an organic and natural product sales decrease of 20%.
“The aftermarket segment grew 17% organically with expansion in both equally Europe and the Americas.
“It is good to see significant organic and natural progress of 38% for the trailer section, and that our amplified concentration on this segment is exhibiting success. We see enhanced underlying desire from our consumers, and in accordance to our assessment of external sector knowledge, we continue on to take industry share.”
Haldex reported raw product and part price ranges as properly as freight and logistics expenditures have been “steadily and rapidly” expanding through the training course of 2021, and “constraints in the offer chain continued through the fourth quarter, which has experienced an impact on the result”.
In line with other sector players, it increased selling prices for the aftermarket organization and to OEM prospects in the Americas and Europe, powerful November and December, respectively. Even so, the actions taken did not have full effect through the fourth quarter.
“During the quarter, the Americas group secured a place with a leading axle manufacturer as the supplier of our minimal-excess weight air disc brake (ADB). Haldex worked cooperatively with a fleet client to propose the ADB solution in a approach identified as ‘fleet-pull-through’ which resulted in a start and specification of the ADB at a globally recognised fleet purchaser. Lots of fleets look to this fleet consumer as an sector pattern setter, which will be helpful for future air disc brakes penetration in the region,” Haldex said.
The business aims to arrive at SEK6bn in sales and a sustainable double-digit running margin by 2025.