TT electronics Plc Business Report FY ended Dec. 2012
|(in million pounds)|
|FY ended Dec. 31, 2012||FY ended Dec. 31, 2011||Rate of Change (%)||Factors|
|Revenue by Division|
-Revenue from continuing operations decreased by 6.4%. After adjusting for an adverse foreign exchange impact of 11.8 million pounds, the underlying decrease in revenue was 4.1%.
-The passenger car market remains important representing 41% of revenue due to continuing strong demand from BMW, VW and Daimler for passenger cars in Russia, Asia and North America.
-Excluding an adverse foreign exchange impact of 1.3%, the underlying decrease in revenue was 5.6%.
-Excluding an adverse foreign exchange impact of 6.3%, the underlying decrease in revenue was 4.9%.
-In 2012, the Company concluded the sale of the Secure Power division, with the disposal of Dale Power Solutions Limited in July for 10.6 million pounds and the Ottomotores business in December for 29.0 million pounds.
<Components>-In 2012, the closure of the Boone facility in North Carolina, USA and the transfer of products to Mexicali, Mexico completed ahead of schedule.
-In 2012, six production lines were transferred to Romania, and the more underway in 2013.
-In 2012, the Company commenced transfer of production lines from Germany to Romania, and the output will start beginning 2013.
-In 2012, the Company acquired 100% of the Indian Joint venture and relocated production to a new site.
-In 2013, further production expansion in Romania, Mexico and China will assure new contracts outside Europe.
R&D Facilities-In 2012, the Company established a new development center in Bangalore, India.
-In 2012, the Company established a new development laboratory in Texas, USA to focus on next generation resistor technologies.
Products Development-In 2012, the Company introduced a next generation intelligent power module, a universal AISC for cam and crank shaft applications and a "thermocouple" temperature sensor capable of operating at extremely high temperatures in excess of 1,000 degree Celsius.
-In 2012, a new combined pressure and temperature sensor has been designed and developed at the facility in Klingenberg, Germany. The sensor is now stable up to operating temperatures of 150 degree Celsius (previously 125 degree Celsius), and it's coupled with a cost reduction of more than 20%. This sensor has been developed in conjunction with BMW and will be used on both the four and six cylinder diesel engines of the BMW car range with production due to commence in 2013.
-In 2012, UK Cambridge-based research team developed a new "SIMSPAD" sensor using non-ferrous metal, thereby avoiding the need to create an aperture for a traditional sensor with the associated cost and engineering complexity.
|(in million pounds)|
|FY ended Dec. 31, 2012||FY ended Dec. 31, 2011||FY ended Dec. 31, 2010|
Investment Outside UK<India>
-Production transferred to a new purpose build facility in Manesar in the 4th quarter of 2012 and the facility increased manufacturing capacity from 5,000 square feet to 35,000 square feet. Also the Company opened an engineering center in Bangalore in 2012. Total headcount in India is 100.
-The facility in Timisoara ramped up operations during 2012, with all three of divisions planning to utilise this facility. Total headcount is 71, with manufacturing floor space of 49,000 square feet.
-In 2012, the Mexicali site expanded and the additional space as production lines of Components were relocated from other sites, including Boone, North Carolina, USA. Additional space has also been taken in Juarez by the Sensors to serve the North and South American markets. Total headcount in Mexico is 796 with manufacturing floor space of approximately 220,000 square feet.
-The facility in Suzhou, established in 2000, is used by all three of the divisions and comprises manufacturing floor space of approximately 325,000 square feet. Total headcount is 693.