- Expectations for first half year exceeded
- Stable growth in Europe and the USA
- Only slight growth in China in the second half year
In the context of the 66th International Automobile Fair (IAA) Cars in Frankfurt, Webasto, the world market leader for roofs, convertible roofs and thermo-systems indicated that business development for the first half of 2015 yielded positive results. Dr. Holger Engelmann, Chairman of the Management Board Webasto SE sees the continued outlook as positive overall for the second half of the year, despite current market developments in places such as China and Russia.
The Webasto Group saw excellent development in the first half of 2015: The company succeeded in achieving a 21 percent increase in sales to 1.42 billion euros (1st HY 2014: 1.17 billion euros). At 73 million euros, results were approximately 13 million above those for the same period of the previous year. For the year 2015 overall, Webasto anticipates double-digit sales growth (2.5 billion euros in the previous year) and once again an increase in earnings vs. the previous year (136 million euros in 2014).
Dr. Engelmann expressed his satisfaction with the first half of the year 2015. According to the Management Board Chairman, the numbers exceeded expectations and thus constituted a solid basis for the second half of the year, which would be more difficult. “With a view to the year 2015 overall, we will once again surpass the previous year’s sales,” said Dr. Engelmann. “Given the innovations we are exhibiting in Frankfurt and our very large order backlog of about 10 billion euros, we are ensuring continued growth in the coming years.”
The three Webasto business units are currently developing in different ways. In the first half year, the Thermo business unit generated sales that were slightly below the previous year’s level. The main reason was the slowing business in Russia. Dr. Engelmann’s comment: “Nevertheless we are convinced that we will reach the full year targets we have set.” The light-duty commercial vehicles business is experiencing positive development. In recent years Webasto has invested in this area and continuously expanded its product portfolio for customized heating, air-conditioning and cooling solutions.
The Convertibles business unit increased its sales significantly for the first half of 2015 as compared to the same period in the previous year. Thanks to successful restructuring measures, Webasto has achieved its goal of being well-positioned in a smaller market. The company offers its OE customers the broadest product portfolio in terms of convertible tops. A study by IHS Automotive anticipates growth of 35 percent for this market segment by 2020. “The projected development of the convertible market for the next five years gives us every reason to view the future with optimism,” according to Dr. Engelmann.
The Sunroofs business unit enjoyed strong growth in the first half of the year, especially in Europe and Asia. Dr. Engelmann made it abundantly clear that this development would not continue in the same way in the second half of the year. The reason is the current slackening of growth in China, the largest individual market for roof systems. Nevertheless, he expects slight growth there in the second half year. At the same time, the fact that in recent years the company did not rely only on growth in China is paying off, and it is well positioned in all regions worldwide. Thus, the roof business continues to grow in Europe. In April, the company took over a production plant for roof systems in Liberec (Czech Republic) and the plant in Arad (Romania) is being expanded to become the largest production plant for roof systems in Europe. And the sales development trend in the US is also positive.
Thus, Dr. Engelmann’s outlook for the Webasto Group for the second half of the year and for the year overall is a positive one.
