Ludwigsburg/Frankfurt, September 12, 2018 – in the first half of 2018, the sales revenue of the MANN+HUMMEL Group with headquarters in Ludwigsburg amounted to approx. 1.95 billion euros (previous-year period: 1.97 billion euros). This information was disclosed by the filtration specialist at a press conference at the Automechanika trade fair in Frankfurt.
"The appreciation of the euro especially against the US dollar has put pressure on sales revenue", explained Emese Weissenbacher, CFO of the MANN+HUMMEL Group. "The result in the first half of 2018 was affected by material price increases."
In the field of original equipment, the business development remained at almost the same level as the previous year. The areas of the aftermarket and life sciences & environment were able to record positive growth. However, the growth in sales revenue particularly in the aftermarket was offset by the strong euro.
Cautious forecast for the whole year
"Experience has shown that the second half of the year at MANN+HUMMEL is stronger than the first half. We forecast a slight increase in sales revenue in comparison to the previous year", added Weissenbacher.
The weakening demand for cars in the areas of North America and Asia-Pacific will probably be compensated by growth in the commercial vehicle sector. In Europe, the automotive industry continues to enjoy a positive development, and here there are opportunities and challenges due to technological change. In South America the economic climate is improving. In the meantime, the economy there is growing strongly, although starting from a low level.
MANN+HUMMEL confirmed as global market leader
MANN+HUMMEL is the market leader in the highly competitive filtration market. This is confirmed in a recent study carried out by Freedonia, the independent US market research institute. Through its acquisition of the Affinia Group in 2016, the Ludwigsburg company was able to considerably strengthen its position as global market leader. MANN+HUMMEL continued to pursue its growth strategy with the acquisition of the North American air filtration company Tri-Dim in the summer of 2018.
"MANN+HUMMEL is already the no. 1 in the global market for filtration applications", noted Weissenbacher. "We want to strengthen this position. To do that we will have to grow further, organically and also through acquisitions.