Haldex AB Business Report FY ended Dec. 2013

Business Highlights

Financial Overview

 (in million SEK)
  FY ended Dec. 31, 2013 FY ended Dec. 31, 2012 Rate of change (%) Factors
Sales 3,920 3,933 (0.3) 1)
Operating income 281 210 33.8 -
Sales by Divisions
Air Controls 1,813 1,783 1.7 -
Foundation Brake 2,107 2,150 (2.0) -

1) Net Sales
-In 2013, net sales decreased by 0.3% to SEK 3,920 million, but, adjusted for currency-exchange fluctuations, sales increased 3% compared with 2012.


-In May 2013, the Company announced a global restructuring program including a transformation of the European footprint. As part of that program, the Haldex plant in Heidelberg, Germany, Haldex Brake Products GmbH, will be affected by operational changes. The planned measures include relocating production from Heidelberg to the Haldex plant in Szentlorinckata, Hungary. In addition, the R&D activities in Heidelberg will largely be transferred to the Haldex R&D centre in the UK. In total the operational changes planned will presumably affect between 100 and 110 employees. The operational changes are anticipated to go into effect by mid 2014. (From a press release on July 9, 2013)

-In May 2013, the Company has initiated a restructuring program which is expected to result in total annual savings of SEK 100 million (approximately 11.6 million euros) with full impact from 2015. The program is focusing on consolidation of key processes and functions, optimization of Sales and G&A costs, transformation of the European footprint and product rationalizations. It also includes a headcount reduction of more than 200 employees. (From a press release on May 21, 2013)


-In 2013, the Company received the 2012 Quality Achievement Award in Europe and North America from Paccar, a world-leading manufacturer of commercial vehicles.

-In 2013, Europart, a leading company within vehicle parts, named the Company the winner of the Trade Star Award in the "European collaboration & performance" category for excellent performance.


R&D Expenditures

 (in million SEK)
  FY ended Dec. 31, 2013 FY ended Dec. 31, 2012 FY ended Dec. 31, 2011
Product development costs 164 145 153

Research and Development Center

-In November 2013, the Company relocates the UK Engineering activities and will open a new Research and Development Centre of Excellence at the MIRA Technology Park, in Warwickshire, UK. The new R&D center is due to be complete during the third quarter of 2014. The new UK R&D Centre will provide global platform designs for advanced vehicle braking and stability solutions to the commercial vehicle industry. The new facility will house a fully equipped design and simulation center, full validation laboratory with integrated Electromagnetic compatibility (EMC) facilities and a series of garage workshops housing multiple development vehicles. (From a press release on November 28, 2013)