Superior Industries International, Inc. Business Report FY ended Dec. 2013
Business Highlights
Financial Overview |
(in million USD) |
FY ended Dec. 31, 2013 | FY ended Dec. 31, 2012 | Rate of change (%) |
Factors | |
Net Sales | 789.6 | 821.5 | (3.9) | 1) |
Operating Income | 34.6 | 32.9 | 5.2 | 2) |
Factors
1) Net Sales
-Net sales in 2013 decreased USD 31.9 million to USD 789.6 million from USD 821.5 million in 2012. Wheel sales in 2013 decreased USD 32.9 million to USD 779.5 million from USD 812.4 million in 2012. Wheel shipments decreased by 5 percent compared to 2012 with the lower volume resulting in USD 37.5 million lower sales compared to 2012. Net sales were unfavorably impacted by a decline in the value of the aluminum component of sales which the Company generally passes through to the customers and resulted in USD 12.8 million lower revenues.
-Decreases in unit shipments to Nissan, GM, Chrysler, Subaru, BMW, Mitsubishi and VW were partially offset by increases in unit shipments to Ford, Toyota, Tesla and Mazda. Wheel program development revenues totaled USD 10.1 million in 2013 and USD 9.1 million in 2012.
2) Operating Income
-Consolidated income from operations increased USD 1.7 million in 2013 to USD 34.6 million, or 4 percent of net sales, from USD 32.9 million, or 4 percent of net sales, in 2012. Income from U.S. operations increased USD 5.3 million, while income from Mexico operations decreased USD 2.9 million when comparing 2013 to 2012.
Contracts
-At the customer level, shipments in 2013 to Ford increased 9 percent compared to last year, as shipments of light-duty truck wheels increased 11 percent and passenger car wheels increased 1 percent. At the program level, the major unit shipment increases were for;- F-Series trucks
- Lincoln MKZ
- Explorer
- Edge
- Fiesta
- Flex
- Fusion
- Mustang
- Chevrolet Malibu
- Impala and
- Traverse
- Cadillac SRX
- Chevrolet Enclave
- Cadillac ATS
- Avalon
- Sienna
- Jeep Grand Cherokee
- Dodge Journey
- Jeep Compass
- Dodge Caravan, and
- Jeep Liberty
shipment increases for;
- Dodge Ram
- Durango
- Challenger.
R&D
R&D Expenditure |
(in million USD) |
FY ended Dec. 31, 2013 | FY ended Dec. 31, 2012 | FY ended Dec. 31, 2011 | |
Total | 4.8 | 5.8 | 5.3 |
R&D Facilities
-The Company has technical centers located in Fayetteville, Arkansas and Detroit, Michigan.Investment Activities
Investment Outside USA
<Mexico>-The Company announced it has selected the city of Chihuahua as the site where it will build a new manufacturing facility in Mexico. Superior previously announced that it intends to invest approximately USD 125 million to USD 135 million to construct and equip the new manufacturing facility, which will have an initial capacity to produce between 2 million and 2.5 million wheels a year. The Company currently produces approximately 12.5 million wheels annually. Groundbreaking is targeted for around the middle of 2013 and completion of construction anticipated about two years later. Superior currently has three manufacturing facilities in the city of Chihuahua. (From a press release on April 16, 2013)