Mann+Hummel reports 14% increase in sales for its FY 2016; will intensify strategic focus on filtration
LUDWIGSBURG, Germany, May 15, 2017-
In the financial year 2016 MANN+HUMMEL increased its sales revenue by 14% to 3.48 billion euros (2015: 3.04 billion euros). The result before interest, tax, depreciation and amortization (EBITDA) has improved considerably to 334.9 million euros (2015: 239.5 million euros). The EBITDA in 2016 amounted to 9.6% (2015: 7.9%).
Emese Weissenbacher, CFO at MANN+HUMMEL, was generally satisfied with the annual result: "As already announced, in the course of 2016 we were able to substantially increase our sales revenue. Our operating profitability is acceptable, even though the sales revenue and result are burdened by negative effects." Negative currency effects and value adjustments on acquisitions impaired the sales revenue and result (EBIT). The result before interest and tax (EBIT) at 115.7 million euros is below that of the previous year, which corresponds to an EBIT margin of 3.3% (2015: 4.5%). This was due to value adjustments made to the amount of 60 million euros.
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