Montupet S.A. Business Report FY ended Dec. 2012

Business Highlights

Financial Overview

(in million EUR)
  FY ended Dec. 31, 2012 FY ended Dec. 31, 2011 Rate of
Change (%)
Net Sales 399.5 406.0 (1.6) 1)
Operating income 33.0 21.7 52.1 -

1) Net Sales
-Sales in 2012 decreased by 1.6% year-on-year to EUR 399.5 million. This decrease resulted from a 10% decline in business in France and Spain compensated for by an increase of 10% in Bulgaria, Mexico and United Kingdom.


R&D Expenditure

(in million EUR)
  FY ended Dec. 31, 2012 FY ended Dec. 31, 2011 FY ended Dec. 31, 2010
Overall 11.1 24.9 23.8

-In 2012, the Company's R&D expenditure was allocated to the development of new high-performance gasoline and diesel engines for its clients such as GM, Renault, Audi, Volvo and Ford, as well as structural and block parts.

-The R&D expenditure for the FY ending December 31, 2013 is expected to be EUR 12.5 million.

Investment Activities

Capital Expenditure

-Investments in tangible assets made in FY ended December 2012 were EUR 38.1 million. The investments centered on increases in the production capacity of existing factories, to prepare for the commencement of orders obtained over recent years.

Major Investment Activities in FY 2012

-Increase of the production area in Ruse, Bulgaria by 50%.
-Additional facilities for the production of new components such as LE1 cylinder heads for GM in Belfast, UK, and Bosch master cylinders in Torreon, Mexico.
-Increase in the cylinder head production line capacity at the following locations:
  • Torreon, Mexico: for the production of GM SGE cylinder heads at a four times higher capacity than had been originally planned.
  • Ruse, Bulgaria: for Renault K9 cylinder heads and Ford Fox cylinder heads.
  • Laigneville, France: for Ford Puma cylinder heads.
-Increase of production line capacity for suspension parts in Ruse, Bulgaria and Chateauroux, France.
-Addition of thermal processing capacity in Ruse, Bulgaria and Torreon, Mexico.