Superior Industries International Business Report FY2009
|(in million dollars)|
|FY2009||FY2008||Rate of change
-Aluminum wheel sales decreased $329.5 million in 2009 to $408.9 million from $738.4 million a year ago, a 45 percent decrease. Unit shipments in 2009 decreased 3.2 million, or 31 percent, to 7.2 million from 10.4 million in 2008. The average selling price of its wheels in 2009 decreased by 20 percent compared to 2008, as the average pass-through price of aluminum decreased by 16 percent in 2009 compared to 2008. The change in the average selling price related to aluminum price changes accounted for $81.4 million of the wheel sales decrease and the unit shipment decline accounted for $228.2 million of the decrease. The balance of the total wheel sales decline was due to the change in sales mix.
-Unit shipments to Ford increased to 35 percent of its total OEM unit shipments in 2009 from 26 percent a year ago, while unit shipments to GM decreased to 34 percent from 39 percent in 2008. Unit shipments to Chrysler decreased to 13 percent from 15 percent in 2008, while shipments to its international customers totaled 18 percent compared to 20 percent in 2008.
-Consolidated net sales by its U.S. wheel plants decreased $272.0 million, or 67 percent, to $134.3 million in 2009 from $406.3 million in 2008. The decrease in revenues in 2009 is directly attributable to a 58 percent decrease in unit shipments and a lower average selling price due principally to a reduction in the pass-through price of aluminum. The Company closed its Kansas and California plants in the U.S. in December 2008 and June 2009, respectively, and shifted a portion of these facilities production to its Mexico plants which partially contributed to the decrease in unit shipments. The significant decrease in 2009 unit shipments and revenues compared 2008 is attributable to the reduced consumer demand for automobiles and light trucks and the shift of production from the U.S. to Mexico.
-Net sales by its Mexican wheel plants decreased $57.9 million, or 18 percent, to $272.9 million in 2009 from $330.8 million in 2008. The decrease in net sales in 2009 compared to 2008 is primarily attributable to the decrease in average selling price due to the reduction in the aluminum pass through price, partially offset by the 4 percent increase in units shipped. In addition, changes in foreign exchange rates negatively impacted net sales in 2009 by approximately 19 percent when comparing 2008 revenues to 2009.
Plant Closure-The Company announced it will close its manufacturing facility in Van Nuys, California, USA, in face of lower demand for light vehicles. The Van Nuys plant engages in OEM aluminum wheel business. The Company expects the plant closing to be completed by the end of the second quarter of 2009. (From a press release on Jan 13, 2009)
|(in million dollars)|
|Supporting its research and development manufacturing needs.|
|Maintaining a complement of engineering staff centrally located near its largest customers' headquarters, engineering and purchasing offices.|