Montupet S.A. Business Report FY ended Dec. 2014

Financial Overview

(in million EUR)
FY ended Dec. 31, 2014 FY ended Dec. 31, 2013 * Rate of
Change (%)
Sales 451.8 420.7 7.4 -
Operating Income 57.6 43.4 30.0 -Operating income was boosted by the combined effect of an increasingly favourable geographical production mix and improvements in productivity across all sites.

* 2013 figures, as published, have been restated accordingly to IAS 8 (Correction of Prior Period Accounting Errors).


-The Company announced the signature of two major contracts with Daimler. These contracts concern the design and production of cylinder heads which will be produced at the Group's Bulgarian site. Already working for Audi, BMW and Porsche, these contracts confirm the Company's growing presence as supplier to Germany's car manufacturers who will account for 20% of the Group's turnover within the next five years. (From a press release on January 7, 2014)

R&D Expenditure

(in million EUR)
FY ended Dec. 31, 2014 FY ended Dec. 31, 2013 FY ended Dec. 31, 2012
Overall 8.3 12.0 11.1

Product Development

-At GM, while the cylinder heads of the SGE (Small Gasoline Engine) family are in the startup and ramp-up stages, the Company is also positioned on the CSS (Cylinder Set Strategy) family that will succeed it as well as an intermediate family and proposes a process adapted to these new architectures.

-A significant technical assistance effort has been made for the Indian joint venture's factory in Urse (India) aimed particularly at improving the quality of cylinder heads for Ford and Mahindra on the Indian market. The development of a cylinder head for Ford has been completed and its transfer to the JV's new plant in Dewas (India) is being prepared.


-The budget for the Technical Department in 2015 amounts to EUR 13 million.

Capital Expenditure

-Tangible investments increased to EUR 47.7 million in 2014.

ments initiated in 2013)

-New production capacities to start up new products:

  • In Torreon (Mexico), for the start of the General Motors SGE cylinder heads
  • In Belfast (United Kingdom), for the startup of the new Panther cylinder head

-The redevelopment, conversion and production capacity increase to start up the following:

  • In Ruse (Bulgaria), the new Volvo VED4 cylinder head with in addition an extension to the building
  • In Chateauroux (France), the new Renault R9 cylinder head reference and the new Porsche structure part
  • In Laigneville (France), the new BMW N63 and Ford Puma T6 cylinder heads
  • In Zaragoza (Spain), the new Renault K9 EGR valve and new IHI and Daimler turbochargers

-Automation and robotisation of production capacity in historic plants:

  • Châteauroux and Laigneville for cylinder heads
  • Zaragoza for the master cylinders

-The generalization and increase in capacity of chip recycling equipment for production at the Laigneville, Châteauroux and Ruse sites.
-New low consumption equipment (furnaces, compressors) in Châteauroux, Laigneville and Ruse and an improved suction system in Ruse


-In 2015, the Company's investments are focusing on preparing for the significant growth in manufacturing expected in 2015 and 2016, mainly in Mexico and Bulgaria.


Number of Employees

Dec. 2014 Dec. 2013 Dec. 2012
France 909 926 961
Belgium 2 3 3
Bulgaria 804 718 647
Spain 552 567 557
United Kingdom 544 512 475
Mexico 475 404 389
Canada 3 2 2
Total 3,289 3,132 3,034



(in million EUR)
  FY ended Dec. 31, 2014 FY ended Dec. 31, 2013 FY ended Dec. 31, 2012 FY ended Dec. 31, 2011 FY ended Dec. 31, 2010
Sales 451.8 420.7 399.5 406.0 375.1


Sales by Geographic Area

  FY ended Dec. 31, 2014 FY ended Dec. 31, 2013 FY ended Dec. 31, 2012
France 30 31 34
UK 24 26 22
Mexico 10 9 11
Spain 15 16 17
Bulgaria 21 18 16
Total 100 100 100

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