Montupet S.A. Business Report FY ended Dec. 2013

Business Highlights

Financial Overview

(in million EUR)
  FY ended Dec. 31, 2013 FY ended Dec. 31, 2012 Rate of
Change (%)
Sales 420.7 399.5 5.3 1)
Operating Income 43.4 33.0 31.5 2)

1) Net Sales
-In 2013, the Company's net sales increased by 5.3% to EUR 420.7 million. The increase in sales was due to the Company's increased market share with non-domestic automakers as well as favorable underlying trends.

2) Operating Income
-Operating income grew 31.5% in 2013 to EUR 43.4 million. This was caused by favorable geographical production mix and improvements in productivity across all of the Company's facilities.

Joint Venture

-Jaya Hind Montupet Private Limited, a joint venture between the Company and Indian foundry Jaya Hind Industries, was incorporated in November 2013. Located in Pune, Jaya Hind Montupet supplies cylinder heads to Ford, Mahindra, and Force Motors. (From a press release on December 12, 2013)


-The Company announced that it supplies its cylinder heads to Ford's plants in Cologne (Germany) and Craiova (Romania), which manufacture the 1.0-liter EcoBoost gasoline engines. The Company also supplies cylinder heads for the 1.6-liter BMW-PSA gasoline engine. (From a press release on June 6, 2013)


R&D Expenditure

(in million EUR)
  FY ended Dec. 31, 2013 FY ended Dec. 31, 2012 FY ended Dec. 31, 2011
Overall 12.5 11.1 24.9

R&D Structure

-The Company has over 160 employees working in research and development.

R&D Activities

-The Company won a development and industrialization project from Daimler for cylinder heads and is currently in the prototype phase of the component. These cylinder heads are based on an unconventional design and are meant to be used in 3 and 4-cylinder engines.

Product Development

Dispersoid alloy cylinder head
-In 2013, the Company became the first organization in the world to cast cylinder heads made from dispersoid alloys. These cylinder heads demonstrated significant improvement in heat resistance compared to other cylinder heads. Audi-Volkswagen is currently running tests to check the benefits of dispersoid alloy cylinder heads in engine performance.


-The Company has set its 2014 research and development budget at EUR 13.2 million.

Investment Activities

Capital Expenditure

-Investments in tangible assets made in the FY ended December 31, 2013 were EUR 32.8 million, a decrease of 13.9% from the previous year. 

Major Investment Activities in FY 2013

-Conversions and increases in capacity of current production lines for the following new products:
  • Rousse, Bulgaria: Cylinder heads for Audi V8 and Volvo VED4
  • Laigneville, France: Cylinder heads for BMW N63U, Renault M9T, and Ford Puma Gen 3.5
  • Belfast, United Kingdom: Cylinder heads for Ford Panther and Ford Sigma IEM
  • Alumalsa, Spain: Distributors for Renault R9M, manifolds for Ford Puma, and Borgwarner EGR valves
  • Chateauroux, France: Cross rail structural parts for Porsche
-New capacities for the production start-up of the following products:
  • Torreon, Mexico: Cylinder heads for General Motors SGE
  • Rousse, Bulgaria: Cylinder heads for Renault K9M
-Additional facilities for the production of cylinder heads for the Ford Sigma IEM and General Motors LE1 in Belfast, United Kingdom
-Increase in equipment capacity for aluminum chip recycling in Laigneville, France and sand reclamation in Rousse, Bulgaria.