Financial Overview
|
(in million SEK) |
| |
FY ended Dec. 31, 2012 |
FY ended Dec. 31, 2011 |
Rate of change (%) |
Factors |
| Overall |
| Sales |
3,933 |
4,030 |
(2.4) |
- |
| Operating income |
210 |
235 |
(10.6) |
- |
| Sales by Divisions |
| Air Controls |
1,783 |
1,823 |
(2.2) |
- |
| Foundation Brake |
2,150 |
2,207 |
(2.6) |
- |
Contracts
-In 2012, the Company signed a Long Term Agreement (LTA) with a global truck manufacturer for the continued global supply of Haldex Automatic Brake Adjuster (ABA) to a total value of SEK 350 million, or approximately EUR 41 million, over a five year period. The Company has since the early 1970's, as a sole supplier, delivered this truck manufacturer the Automatic Brake Adjuster. (From a press release on November 6, 2012)
Recent Developments
-In 2012, Haldex Automatic Brake Adjuster for commercial vehicles has surpassed the 70 million production mark. The Company begun the serial production of Automatic Brake Adjusters over four decades ago and today the Company has a 60 percent share of the world market. The Automatic Brake Adjuster is manufactured in Sweden, U.S., Brazil, India and China. (From a press release on August 24, 2012)
Business Partnership
-In 2012, the Company and Master Sistemas Automotivos Limitada, a Brazilian manufacturer of brakes for commercial vehicles, confirmed the closing of a long term collaboration contract. The partnership includes manufacturing, sales and technical support of commercial vehicle trailer anti-lock systems for pneumatic brakes (Trailer ABS) for the Brazilian market. The Company estimates the total sales resulting from this agreement to amount to more than SEK 300 million, or approximately EUR 36 million, during the initial five year period. The Company and Master have been cooperating during the period since the letter of intent was signed in December 2011. (From a press release on September 4, 2012)
Restructuring
-In 2012, the Company announced that it reorganized the Company into a functional organization. The Group Management will be extended to include Business Development and Global Sourcing & Logistics functions. The new functional organization will replace the present two business unit structure of Air Controls and Foundation Brake. (From a press release on May 4, 2012)
-Effective June 2011, the Company's operations are conducted in two business units, focusing on commercial vehicles.
- Air Controls
- Foundation Brake
-In 2008, the Company's operations comprised four divisions: Commercial Vehicle Systems, Hydraulic Systems, Traction Systems and Garphytan Wire.
- On June 1, 2009, the Garphyttan Wire division was divested.
- On January 31, 2011, the Company sold Traction Systems division to BorgWarner.
- On June 16, 2011, Concentric AB, former Hydraulic Systems division of the Haldex Group, was listed as an independent entity on the Stockholm Stock Exchange.
R&D Expenditures
|
(in million SEK) |
| |
FY ended Dec. 31, 2012 |
FY ended Dec. 31, 2011 |
FY ended Dec. 31, 2010 |
| Product development costs |
145 |
153 |
134 |
Product Developments
World's first UN-ECE approved rollover simulator for trailers-The Company launched the world's first UN-ECE approved rollover control simulator for trailers. The simulator will enable trailer manufacturers to obtain type approval for vehicles equipped with Haldex's EB+electronic braking system so that the vehicles meet the UN-ECE regulations (which include new rules for braking systems) without manufacturers having to carry out their own resource-intensive road testing.
