MANN+HUMMEL GmbH Business Report FY ended Dec. 2013
|(in million euros)|
|FY ended Dec. 31, 2013||FY ended Dec. 31, 2012||Rate of change (%)||Factors|
-In 2013, sales by the "Automotive Original Equipment" Division increased compared to the previous year, for the fourth year in a row. In particular, this was due to the positive development in Asia and the growth in commercial vehicle business.
-In October 2013, the Company has announced that its joint venture company, Changchun MANN+HUMMEL FAWAY Filter Co. Ltd, has opened a new production plant in Changchun, Jilin Province. The site covers 4.5 hectares and represents an investment of RMB one hundred million (approximately USD 16.4 million). Together with the existing product families such as air filter systems, oil filters, fuel filters, centrifuges and air dryer boxes, the new plant will produce also engine covers, intake manifolds, air filter elements for passenger vehicles, cabin filters, turbo charge ducts and acoustic resonators. In 2012, MANN+HUMMEL FAWAY expanded its business, investing substantially in the development of components for passenger vehicles alongside its commercial vehicle business. With this initiative, the company won a range of passenger vehicle contracts including the supply of a 4GB engine oil module, Mazda 6 Economy and Besturn B50, vehicle air filters for FAW Car Company, and a key air filter systems project for the new Sagitar vehicle replacement model for 2015 and Bora vehicle model for FAW-Volkswagen. (From a press release on October 18, 2013)
New Product-In August 2013, the Company launched the new MANN-FILTER "HU 1291 z" oil filter for commercial vehicle significantly facilitates disassembly in the workshop and saves installation space due to its enhanced filter medium. The company has been granted patents in several countries for the filter element, which features a bayonet connection and double-concentric silicon sealing. The new oil filter is produced in series for the 10.5 and 12.4-litre six-cylinder in-line engines in MAN trucks. (From a press release on August 5, 2013)
Acquisition-In March 2013, the Company took over Purolator filters LLC, previously a joint venture between Bosch and the Company. The business will continue to be based in Fayetteville, NC (USA), but will be re-named to MANN+HUMMEL Purolator Filters LLC. The Company and Bosch ran the joint venture for more than six years. While the Company managed the Original Equipment (OE) business, Bosch took care of customers in the Independent Aftermarket (IAM). IAM customers that have been served by Bosch during the joint venture will be transitioned to MANN+HUMMEL Purolator Filters LLC. (From a press release on March 27, 2013)
Research & Development Structure-Around 1,000 employees work for the MANN+HUMMEL Group worldwide in the research and development of filtration solutions for industrial and automotive applications.
-In 2013, the Company spent EUR 98 million (almost 4% of sales revenue) on research and development.
-In the automotive area in 2013, the Company expanded development capacities in North America and also in Asia, particularly in China and India. It also significantly expanded component testing and measurement capacities in Europe by putting the new testing and technology centre in the Czech Republic into operation.
New Facilities-In December 2013, the Company has created a technical center for the injection molding and welding of plastic parts in Ludwigsburg, Germany, in order to speed up the transition from development to series production. The core facilities at the MANN+HUMMEL technical center include two fully electric injection molding machines and a hot gas welding machine, as well as extensive peripherals. New production processes and methods can be tested and optimized at the technical center before they are introduced into series production at Ludwigsburg or other locations around the world. (From a press release on December 5, 2013)
-In November 2013, the Company announced that it has opened a newly constructed Innovation Center in partnership with North Carolina State University in Raleigh, North Carolina, the U.S. The North Carolina Innovation Center will combine engineering, research, and innovation to provide advanced research and tailored solutions for its customer's future filtration products. This facility will also be the future site of MANN+HUMMEL's North American headquarters for its Automotive Aftermarket and Industrial Filtration divisions. (From a press release on November 5, 2013)
|(in million euros)|
|FY ended Dec. 31, 2013||FY ended Dec. 31, 2012||FY ended Dec. 31, 2011|
|Total (Investments in tangible assets)||126||124||109|
-The proportion of tangible asset additions in relation to the corresponding sales volume remains at 4.7%, as in the previous year.
-Around half of the investments in tangible assets (EUR 61 million) in the past financial year were made in the "Automotive Original Equipment" Division. EUR 47 million were invested in the "Automotive Aftermarket" Division.