Eberspacher Holding GmbH & Co.KG Business Report FY2010
|(in million euros)|
|FY2010||FY2009||Rate of change(%)||Factors|
|Exhaust Technology Division|
|Vehicle Heaters Division|
-In 2010, Group revenue stood at EUR 1,933.8 million, exceeding the prior-year figure by 44.1 %. Net revenue rose significantly by 36.1 %.The Company generated net income of EUR 34.1 million for the year 2010.
-In the largest division, the Exhaust Technology Division, the gross sales achieved 1,599 million euros; net sales of 820 million euros were recorded after excluding transitory items. The Company also profited in this division from the increased demand for high-quality premium vehicles and the increasing export levels of German manufacturers. A key contribution to the development of sales was also the start of production of exhaust systems for commercial vehicles in the USA in line with the new stringent EPA-2010 standard. In this market segment, the German supplier plays a leading role in North America.
-The Climate Control Systems Division also showed positive developments. Sales increased by 63 percent to 335 million euros. This growth was supported by all the product groups: fuel-operated and electrical vehicle heaters, as well as the bus air-conditioning systems launched in 2010.
Acquisitions-Acquired India-based bus air conditioning business of Carrier Air-conditioning and Refrigeration Ltd. (Carrier India) from Carrier Corp. in USA. A new subsidiary, Eberspaecher Sutrak Bus Climate Control Systems India Pvt. Ltd. based near Gurgaon, has been established. In April 2010, (From a press release on July 21, 2010)
-Acquired German-based Carrier Sutrak. The company, a provider of bus air-conditioning systems, has production facilities in Renningen, Germany and in Madrid, Spain. It posted sales of approximately 90 million USD in 2009. A new subsidiary - Eberspacher Sutrak GmbH & Co. KG - is headquartered in Renningen, Germany. (From a press release on April 1, 2010)
Contracts-The Company has won orders of the exhaust-gas aftertreatment system for commercial vehicles from its US clients. Eberspacher supplies Selective Catalytic Reduction (SCR) combination systems consisting of a diesel particulate filter and SCR catalytic converters to Volvo Trucks North America and Detroit Diesel, which supplies engines to its parent company Daimler Trucks North America. The systems comply with EPA 10 Emissions Directive. (From a press release on March 9, 2010)
Joint Ventures-Bosch Emission Systems GmbH & Co. KG, a joint venture among Robert Bosch, Deutz, and Eberspacher, started its operations in April 2010. The JV, headquartered in Stuttgart, Germany, offers modular-based diesel exhaust-gas aftertreatment system for commercial vehicles. Series production is planned for the third quarter of 2010 in Neunkirchen, Germany. (From a press release on April 8, 2010)
|(in million euros)|
-Development work takes place at the locations in Esslingen, Unna and Schwäbisch Gmünd (all in Germany), Paris (France), Novi (USA) and Pune (India).
R&D Activities-Research and development expenses totaled EUR 97.7 million in year under review (prior year: EUR 79.2 million). In addition to internal expenditure, this figure includes all third-party services for design, CAE (computer-aided engineering) and testing. In comparison to the prior year, spending on research and development rose by 23.4%. Most of this effect is attributable to a higher level of expenditure on the development of two strategically relevant products: Exhaust systems for commercial vehicles (meeting EPA 2010 and EURO 6) and high-voltage heaters for electric vehicles.
-Eberspaecher is also the global market leader for heating electric vehicles. It is the first supplier to equip electric vehicles as standard with high-voltage water heaters, for example in the Chevrolet Volt and the Nissan Leaf.
-Herxheim-based subsidiary Eberspaecher Controls developed the electronic darkening of the top glass panel of the new Mercedes SLK.
|(in million euros)|
Investment Activities-The Company will expand its production capacities in Germany. The middle of November will see construction start on a new production site in the town of Wilsdruff near Dresden, Saxony State. The new plant is specifically geared towards the production of exhaust systems in accordance with Euro 6 standard. The end of 2011 should see the first pilot-production runs underway in the roughly 20,000 square meter plant. The startup workforce of 20 to 30 people is expected to expand to a figure of 300 in 2015. (From a press release on November 8, 2010)
-Investments in international joint ventures in Russia and South Korea have provided the supplier with access to new customers – such as AvtoVAZ and Hyundai Kia. Moreover, the company is increasing its production capacities with new plants in Russia and Brazil. A new production facility is also being constructed in Germany: In the future, Eberspaecher will produce commercial vehicle exhaust systems in line with the forthcoming Euro 6 standard in Wilsdruff near Dresden. In order to meet this stringent regulation, which comes into force for all European commercial vehicles in 2014, the company has already secured the leading position in Europe.