Annual report 2019

The highest turnover in the company’s history

The MANN+HUMMEL Group can look back on a good financial year 2019. The turnover generated by the global filtration experts rose to 4.2 billion euros.

Both the Transportation and Life Sciences & Environment business segments contributed to this positive development. Despite challenging conditions arising from factors including Brexit, trade disputes and mobility change, operating earnings before interest and taxes (EBIT) in 2019 were significantly higher than in the previous financial year. The EBIT rose by EUR 59.7 million or 63.9 percent to EUR 153.3 million. In connection with the 2019 restructuring program, expenses for severance payments of EUR 44.9 million were incurred. Adjusted for these expenses, the operating result was EUR 198.2 million. In 2018, sales revenues amounted to EUR 3.9 billion with an EBIT of EUR 93.6 million.

 

“For MANN+HUMMEL, 2019 was a challenging year, yet one that we were able to end with a very positive operating profit. This year will certainly not be easy either due to the economic consequences of COVID-19 but we are on a sound financial footing. We will do everything to ensure that the company has a sustainable future while at the same time consolidating our role as leaders in the filtration sector.”

Kurk Wilks, President and CEO of the MANN+HUMMEL Group

“We have consistently lowered our costs in the past year through process improvements. We have made good progress with our global restructuring. As a result, we were able to achieve positive effects on earnings as early as 2019.“

Emese Weissenbacher, Executive Vice President and Chief Finance Officer

Key figures

in EUR million

2019

2018

Sales

4,213

3,955

Operating profit or loss (EBIT)

153

94

As % of sales

3.6 %

2.4 %

Earnings before interest, taxes, depreciation and amortization (EBITDA)

387

327

As % of sales

9.2 %

8.3 %

Net profit or loss before income tax and changes in capital economically attributable to the shareholders

90

16

As % of sales

2.1 %

0.4 %

Consolidated net income

-1

-21

As % of sales

-0,03

-0.5 %

Free Cash Flow

232

-37

As % of sales

5.5 %

-0.9 %

Total assets

4,128

3,938

Investments in tangible assets

143

154

Average number of employees

22,013

21,149