Magneti Marelli Holding S.p.A. Business Report FY ended Dec. 2013
|(in million EUR)|
|FY ended Dec. 31, 2013||FY ended Dec. 31, 2012||Rate of change (%)||Factors|
|Sales by Division|
|Plastic Components and Modules||410||419||(2.1)||9)|
1) Net Sales
-The Company's net sales in 2013 increased 2.7% from 2012 to EUR 5,988 million. The increase in sales was primarily due to the Company's strong performance in NAFTA and China with a smaller gain in Europe.
-In 2013, the Company reported an EBIT of EUR 169 million, a 29.0% increase from 2012. A combination of higher trading profit in 2013 and the one-time occurrence of unusual charges from 2012 lead to the increase.
-Sales in the Company's Lighting segment grew 11.6% over the previous year to EUR 2,275 million in 2013. Growth came from the NAFTA region, where several new products were recently launched, and in China, where a new order was received from Volkswagen.
-The Company's Powertrain segment had revenues of EUR 898 million, a 2.2% decrease from 2012. Slight increases in sales in Europe and Brazil were offset by lower sales in India due to decreased demand.
5) Suspension Systems
-Sales for the Suspension Systems segment dropped 1.3% to EUR 470 million in 2013. Increased sales of Fiat "Ducato" in Brazil and Mexico were offset by contractions of the Fiat Group's brands in Italy and Poland.
6) Shock Absorbers
-Revenues for the Shock Absorber segment in 2013 dropped 12.7% to EUR 309 million due to an overall decrease in demand in the business line's core markets.
7) Electronic Systems
-The Company's Electronic Systems segment had sales of EUR 935 million in 2013, a 6.9% increase in sales from 2012. The increase in sales was due to growth in sales of telematics and body products to PSA.
8) Exhaust Systems
-Sales for Exhaust Systems segment dropped 6.5% in 2013 to EUR 559 million. While increased volumes were sold to customers in Serbia and China, these gains were offset by an overall contraction in demand.
9) Plastic Components and Modules
-In 2013, the Plastic Components and Modules segment declined 2.1% to EUR 410 million due to an overall decrease in demand in the business line's core markets.
-The Company, through its Automotive Lighting division, and China South Industries Group Corporation (CSI), through its subsidiary Hubei Huazhong Photoelectric Science and Technology Ltd. signed a 50/50 joint venture agreement for the production of headlamps and rear lamps for motor vehicles in China. The joint venture, called Hubei Huazhong Magneti Marelli Automotive Lighting Co. Ltd., will be located in Xiaogan and will feature a production facility which is scheduled to start production in the first quarter of 2015. At full capacity, the joint venture will be able to manufacture about 5 million units a year and have a workforce of over 800 people. The joint venture will require a total investment of about EUR 40 million. The new joint venture will offer a complete range of automotive lighting products: halogen, Xenon and LED headlamps with adaptive front lighting systems; rear lights with bulb lamps, LEDs and "light guide" technology; and front and rear fog lamps. Production will target vehicles manufactured by the China Changan Automotive Group and its related joint ventures, in addition to other carmakers operating in China. (From a press release on October 14, 2013)
-Johnson Controls and PCMA, a division of the Company, inaugurated a new interiors plant in Serbia through a joint venture. The new plant is located within the Fiat Automobiles Serbia (FAS) facility and will manufacture complete interiors, which includes door panels, instrument panels, floor consoles, and rear quarter panels for the Fiat 500L. (From a press release on February 6, 2013)
-The Company and Faurecia S.A. announced a collaboration agreement for the design, development and manufacturing of advanced human-machine interface (HMI) vehicle interior products. Through this agreement, the Company and Faurecia expect to further expand their business portfolios in interior systems, adding HMI solutions to a broad product range including center stacks, fascias and overhead consoles, retractable touch screens and displays, and the physical integration of nomadic devices such as smartphones and tablets. (From a press release on November 19, 2013)
|Alfa Romeo||MiTo||Lighting systems, Suspension systems, Powertrain components|
|Giulietta||Lighting systems, Suspension systems, Powertrain components|
|4C||LED rear lights, Exhaust pipes, Shock absorbers, ECUs, Electro-hydraulic actuators|
|Audi||Q5||LED lights, Instrument clusters|
|S3 Sportback||LED rear lights|
|BAIC||E-Series HB||Throttle bodies|
|X5||Halogen, bi-Xenon and full-LED headlamps|
|Z4||LED rear lights|
|6 Series||Adaptive Xenon headlights equipped with Advanced Frontlighting System (AFS)|
|Chery||A2||Electronic motor control systems, Throttle bodies|
|Chrysler||Jeep Grand Cherokee CRD||LED rear lights|
|Citroen||Grand C4 Picasso||Instrument clusters, Halogen and Xenon headlamps, LED rear lighting systems|
|C4L||Projectors, Intake manifolds, Shock absorbers|
|Elysee||Throttle bodies, Shock absorbers|
|Daimler||Mercedes Benz GLA||Halogen and Xenon headlamps, LED rear lights|
|Ferrari||LaFerrari||"HY-KERS" hybrid-electric system, Electrical motors, Inverters, Battery control components, Electronic control components, High-intensity Bi-Xenon headlights, LED rear lights, Throttle bodies, ECUs, "Superlift" system|
|Fiat||500L Living||Lighting systems, Powertrain components, Electronic systems, Suspension systems, Exhaust systems|
|GAC||Trumpchi GA3||Transmission control units|
|GM||Buick Regal GS||LED lights|
|Chevrolet Cruze HB||Intake manifolds, Shock absorbers|
|JAC||YueYue FL||Freechoice AMT, Electronic control systems, Hydraulic kits, Exhaust systems|
|Heyue S30||Freechoice AMT, Electronic control systems, Hydraulic kits, Exhaust systems|
|Refine S5||Exhaust systems|
|Land Rover||Range Rover Sport Hybrid||Halogen and bi-Xenon headlamps with Advanced Frontlight Extended (AFX) technology, LED rear lights|
|Maserati||Ghibli||Xenon illumination system with Advanced Frontlight Extended (AFX) technology, Instrument clusters, GDI pumps for 3.0L V6 gasoline engine, Shock absorbers, Hands-free module systems|
|Quattroporte||LED rear lights, high-pressure GDI pumps for 3.0L V6 and 3.8L V8 gasoline engines, Instrument clusters|
|Peugeot||308||Full-LED headlamps, "Touchscreen" infotainment systems, Instrument clusters|
|208 HYbrid FE||"Touchscreen" infotainment systems|
|2008/2008 HYbrid Air||"Touchscreen" infotainment systems|
|Porsche||911 Turbo/911 Turbo S||Instrument clusters|
|Qoros||Qoros 3||Instrument clusters|
|Renault||Fluence||Halogen and Xenon lights, Projectors|
|Scenic||Reconfigurable instrument clusters made with Thin Film Transistor (TFT) technology|
|Seat||Leon SC/Leon ST||Throttle bodies, Exhaust systems|
|Octavia Wagon||Throttle bodies, High intensity Halogen headlights with Advanced Frontlighting System (AFS)|
|Rapid||Throttle bodies, GDI system injectors|
|Volkswagen||Lavida HB||Throttle bodies, Intake manifolds|
|Sagitar GLI||Throttle bodies, Intake manifolds, GDI system injectors|
|Cross up!||Instrument clusters, throttle bodies|
|Golf||LED rear lights|
|(in million EUR)|
|FY ended Dec. 31, 2013||FY ended Dec. 31, 2012||FY ended Dec. 31, 2011|
-The Company's Lighting segment worked on the following projects in 2013:
- Glare-free high-beam LED technology: Through the use of reflexion technology, the lights will reduce the cost of modules by using a single LED.
- Laser beams in headlamps: The technology uses a laser beam module for a high-beam application.
-In 2013, the Company's Powertrain segment continued development on electric inverters and motors for HEV and BEV vehicles for Ferrari, Qoros Group and Chrysler.
-The Suspension Systems segment continued research on high-resistance metal, alloy solutions and variable thickness components in 2013.
- Products that were developed by the Shock Absorbers segment in 2013 included the following:
- Aluminum mono-tube shock absorbers that contribute to reduced emissions
- Cabin leveler shock absorbers for Iveco
- Dual Stage Valve shock absorbers
- Electronic Frequency Selective Damping (E_FSD) shock absorbers
- Products which the Company's Electronic Systems segment continued development for in 2013 include the following:
- Instrument cluster platforms for Audi and Fiat-Chrysler SUVs
- Body computers for Fiat-Chrysler's Compact United States Wide (CUSW) platform
- Body computers for Slovakia
- Body computers for Fiat models in Latin America
-Research in the Exhaust Systems segment in 2013 focused primarily on methods of weight reduction for exhaust systems and systems that can recover exhaust generated heat.
|(in million EUR)|
|FY ended Dec. 31, 2013||FY ended Dec. 31, 2012||FY ended Dec. 31, 2011|
Investment Outside Italy<Malaysia>
-The Company announced that its new automotive lighting plant for the production of headlamps and rear lights was inaugurated in Batu Kawan, in the Malaysian state of Penang. The plant was built to replace the facilities in Bayan Lepas and increase production capacity from 1.7 million lighting units per year to 2.2 million components, with a possible further increase of up to 2.9 million units per year. The new facilities cover a total surface area of 56,600 square meters. 26,600 square meters of the plant are dedicated to production. The plant is expected to have a workforce of 1000 employees and could add 500 more workers based on the possible production capacity increase. Products manufactured at the Batu Kawan plant will include front headlamps, rear lights and fog lamps, also introducing LED technology. Production will be aimed towards Japanese carmakers (Honda, Mazda and Suzuki) and carmakers operating in the ASEAN area (Proton & Perodua in Malaysia, Ford and GM in Thailand and Indonesia). (From a press release on October 8, 2013)
-The Company announced that its new plant for the production of headlamps and rear lights was inaugurated in Pulaski, Tennessee, USA. This is the first lighting production plant in the country. The new production unit was built with an investment of approximately USD 54 million. The plant currently employs 90 people but expects to have a workforce of approximately 850 employees within the next four years. Currently, the industrial area dedicated to lighting covers approximately 161,500 square feet (15,000 square meters), which will be further extended to just over 213,000 square feet (20,000 square meters) in 2014. The plant has a production capacity of 2.5 million lighting units a year, which will gradually increase to 5 million units in 2016. The new site has already won orders from Chrysler Group, Mercedes and GM. (From a press release on June 17, 2013)
-The Company announced that its Automotive Lighting industrial plant was inaugurated in Foshan, in Guangdong province, China. EUR 30 million was invested into the plant. The plant will initially only produce rear lights. Production of front headlamps and electronic lighting components will occur later in the plant's lifetime. The industrial site covers a total surface area of 26,500 square meters, 17,800 of which is dedicated to production. The plant will initially manufacture about 2.4 million rear lamps a year and have a total workforce of approximately 300 employees. The products are mainly intended for the Chinese market and for customers located south of China. A percentage of the parts produced will be exported to Japan. (From a press release on May 16, 2013)