Teksid S.p.A Business report FY 2009
Business Highlights
Financial Overview |
(in million euros) |
FY2009 | FY2008 | Rate of change(%) |
Factors | |
Revenue | 578 | 837 | (30.9) | 1) |
Trading profit | (14) | 49 | - |
Factors
1)
-The Company experienced a 30.9% decline in revenues for 2009.
-The Cast Iron business unit recorded a 26.6% decrease in volumes over 2008, attributable to decreases in Europe (-9%), the NAFTA area (-52%), where the Sector is predominantly focused on heavy vehicles, and Brazil (-30%) where the decline was also attributable to a sharp decrease in supply for heavy vehicles. Revenues for the business unit were down 32.3%. In addition, the Company’s Cast Iron business unit operates in China through Hua Dong Teksid Automotive Foundry Co. Ltd., a joint venture with the SAIC group, accounted for under the equity method. In 2009, the company recorded a decrease in delivery volumes of 12.5%.
-The Aluminum business unit posted a 5.5% decline in volumes and a 22.8% fall revenues, attributable to lower sales volumes, lower revenues from secondary activities (equipment sales), as well as a decrease in selling prices driven by a drop in the market price of raw materials to which the unit’s selling prices are linked.
R&D
R&D Expenditure |
(in million euros) |
FY2009 | FY2008 | FY2007 | |
Overall | 2 | 3 | 1 |
Investment Activities
Capital Investment |
(in million euros) |
FY2009 | FY2008 | FY2007 | |
Overall | 33 | 41 | 32 |