MANN+HUMMEL GmbH Business Report FY ended Dec. 2015
Financial Overview |
(in million EUR) |
| FY ended Dec. 31, 2015 | FY ended Dec. 31, 2014 | Rate of change (%) | Factors | |
| Net Sales | 3,041.9 | 2,780.1 | 9.4 | 1) |
| EBIT | 135.4 | 149.8 | (9.6) | 2) |
Factors
1) Net Sales
-The Company’s net sales for the fiscal year ended December 31, 2015 increased by 9.4% to EUR 3,041.9 million. Excluding the impact of currency effects, sales grew by 3.9%. The increase in sales was due to improved sales in Europe and the first-time consolidation of a previous acquisition.
2) EBIT
-In the fiscal year ended December 31, 2015, the Company’s EBIT decreased by 9.6% to EUR 135.4 million. One-time special effects such as the restructuring of the Company’s plants in Germany, and the acquisition of the Affinia Group’s filtration business significantly contributed to this decrease.
Acquisitions
-The Company announced that it has entered into a definitive agreement under which it will acquire the global filtration operations (excluding some sections) of Affinia Group Inc. The Affinia Group is a major U.S. supplier of industrial products and filtration services. Through the acquisition, the Company aims to gain access to market segments such as heavy duty and hydraulic filtration in the U.S. After the acquisition, the Company's workforce is expected to increase from 16,000 employees to approximately 20,000 employees. (From an article in the Nikkan Jidosha Shimbun on August 25, 2015)
Major Contracts
| Company | Model | Parts Supplied |
| Audi | Q3 | Air cleaner systems with anti-snow system |
| A6 | Diesel fuel filters with three-stage water separator | |
| A7 | Diesel fuel filters with three-stage water separator | |
| Q7 | Diesel fuel filters with three-stage water separator | |
| BMW | 1 series | Modular air cleaner systems |
| 2 series | Modular air cleaner systems | |
| 3 series | Charge air ducts with Agile Joint technology | |
| 4 series | Charge air ducts with Agile Joint technology | |
| 5 series | Charge air ducts with Agile Joint technology | |
| 7 series | Charge air ducts with Agile Joint technology | |
| X3 | Charge air ducts with Agile Joint technology | |
| X4 | Charge air ducts with Agile Joint technology | |
| X5 | Charge air ducts with Agile Joint technology | |
| FCA | Jeep Renegade | Air cleaner systems |
| Fiat 500x | Air cleaner systems | |
| Fiat Doblo | Air cleaner systems | |
| Ford |
Fiesta | Air cleaner systems |
| EcoSport | Air cleaner systems | |
| B-MAX | Air cleaner systems | |
| Fusion | Air cleaner systems | |
| Edge | Air cleaner systems, Dirty air ducts, Air cleaner housings, Clean side ducts | |
| Mondeo | Air cleaner systems | |
| Galaxy | Air cleaner systems | |
| F-150 | Air cleaner systems | |
| Mustang | Air cleaner systems, Sound pipes | |
| Ranger | Air cleaner systems | |
| Everest | Air cleaner systems | |
| Hyundai | i20 | Air cleaner systems |
| Mahindra | Bolero | Intake manifolds |
| Nissan | Navara/Frontier | Intake manifolds, Air cleaner systems |
| Opel | Corsa | Compact air cleaner systems |
| Astra | Fuel filter modules with three-stage water separator | |
| Renault | Talisman | Air cleaner systems |
| VW |
Golf | Diesel fuel filter |
| Sharan | Air cleaner systems with anti-snow system | |
| XL1 | Oil filter modules | |
| T6 Bus | Hot side charge air ducts |
Awards
-Major awards won from OEMs in 2015
| OEM | Company | Award |
| Ford | MANN+HUMMEL | World Excellence Award |
| GM | MANN+HUMMEL | Supplier of the Year and Prime Supplier |
R&D Expenditure |
(in million EUR) |
| FY ended Dec. 31, 2015 | FY ended Dec. 31, 2014 | FY ended Dec. 31, 2013 | |
| Total | 121 | 106 | 98 |
*In 2015, the Company switched accounting principles to IFRS regulations. Figures prior to 2014 use the HGB standards, and are incomparable to more recent figures.
R&D Structure
-As of December 31, 2015, the Company has over 1,000 employees working in research and development.
Patents
-In the fiscal year ended December 31, 2015, the Company submitted 166 patent applications for approval.
Product Development
Products displayed at IAA Frankfurt Motor Show 2015
-The Company presented a variety of components at the IAA Frankfurt Motor Show 2015.
- FreciousPlus cabin filter: The cabin filter features a biofunctional coating with polyphenol, binding over 98% of free-floating allergens. The biofunctional coating also provides an antimicrobial effect. The medium removes up to 97% of particulate matter.
- Three-stage water separator: The module utilizes an integrated particle filter, coalescer, and hydrophobic sieve to separate water from diesel fuel, and achieves a water content separation rate of over 93%.
- Flexline filters: Flexline filters allows for better utilization of space due to the increased flexibility that the medium can be shaped in.
- Active charge air duct (ACAD): The module provides a cost-effective solution to boost specific torque and engine output. The ACAD optimizes airflow between the charge air cooler and inlet valve and uses a rotary valve to either increase power output or torque.
- Active intake manifold system concept: The concept provides fuel savings of over 3%, enables lower CO2 emissions, and is lighter. The module features a fully integrated charge air cooler, an electrically driven compressor called eBOOSTER, a self-regulating bypass valve, a tumble flap system, and an Agile Joint compensating joint.
(From press releases on September 14, 2015)
Capital Expenditure |
(in million EUR) |
| FY ended Dec. 31, 2015 | FY ended Dec. 31, 2014 | FY ended Dec. 31, 2013 | |
| Total (Investments in tangible assets) | 140 | 141 | 126 |
*In 2015, the Company switched accounting principles to IFRS regulations. Figures prior to 2014 use the HGB standards, and are incomparable to more recent figures.
-In the fiscal year ended December 31, 2015, the Company’s capital expenditure amounted to approximately 4.6% of its sales, a decrease of 0.5 percentage points.
-Approximately EUR 55 million of the capital expenditure was invested in the Automotive Original Equipment business unit, while EUR 50 million was invested in the Automotive Aftermarket business unit.
Investments outside Germany
-In October 2015, the Company opened a new plant in Chongqing, China. Having invested more than RMB 30 million into the 10,000-square-meter facility, the Company anticipates that the plant will help satisfy increasing demand in Southwest China. The Chongqing plant will primarily manufacture intake manifolds and air filter systems, with an expected annual production capacity of two million units. Customers which will use the parts from the new plant include Changan Ford and Changan Suzuki. (From a press release on October 28, 2015)
-The Company invested in its location in Portage, Michigan, U.S. to increase its production capacity of air intake systems.