• Wheel sales volume grows by +15.7% yoy to 4.9 mln wheels
  • Revenues up by 23.2 % to EUR 274.7 mln
  • EBITDA grows by 11.3% to EUR 40.3 mln
  • Net profit for the period - EUR 30.2 mln, an increase of 5.2%
  • Outlook for 2017: guidance confirmed - sales volume growth of 10-15%, revenue growth of 14-19% and EBITDA growth of 15-20%
  • Superior transaction - integration in progress, delisting process started

Bad Dürkheim, August 9th, 2017: Germany-based alloy wheels manufacturer UNIWHEELS AG, listed on the Warsaw Stock Exchange, presented its financial results for the first half of 2017.

In 1H 2017 UNIWHEELS Group sold 4.940 million wheels in both segments: Automotive and Accessory (in total an increase of 15,7% y/y).

In the Automotive segment UNIWHEELS sold in 1H 2017 4.08 mln wheels (+13.1% yoy) and in the Accessory segment 0.86 mln wheels (an increase of 30.0% yoy).

In 1H 2017 UNIWHEELS generated EUR 274.7 mln in revenues, an increase of 23.2% yoy, mainly influenced by wheels sales increase (+15.7 % yoy) in both segments, higher value added and aluminum price adjustments. In the Automotive segment, revenues grew by 20.6% yoy to EUR 221.8 mln, the Accessory business saw a revenue increase of 28.8% yoy to EUR 46.9 mln.

Since 4Q 2016, LME aluminum price increased and influenced cost of material level in 1H 2017, which rose 37.2% in that period. Personnel expenses grew in line with revenues level and were impacted by additional staff recruitment for new plant in Stalowa Wola as well as by wage increases. Other operating costs were influenced by higher consulting and legal fees. In total EBITDA grew in 1H2017 by 11.3% to EUR 40.3 mln. Net profit increased by 5.2% to EUR 30.6 mln. Earnings performance in the analyzed period has been influenced also by very strong second quarter of 2016.

Regarding the outlook for 2017, UNIWHEELS confirms the guidance that has been published together with the 2016 results. Wheels sales are expected to increase in 2017 between 10% - 15% yoy. Group revenues are forecasted to grow between 14% and 19% yoy, taking the aluminium price development into account. And an EBITDA increase by 15% to 20% yoy is expected.

Superior Industries currently owns 93.2% of UNIWHEELS AG shares after public tender. Now, process of integrating of the two organizations began, which will lead to building a consolidated organization. Also delisting process from Warsaw Stock Exchange has started.

Key financial figures of UNIWHEELS Group for 1H 2017:

(in € mln unless otherwise stated)
1H 2017
1H 2016
+/-
Revenue
274.7
223.0
+23.2%
Sales volume (thousand units)
4,940
4,269
+15.7%
EBITDA
40.3
36.2
+11.3 %
EBITDA margin (% of revenue)
14.7 %
16.2 %
-1.5 PP
EBIT
29.0
28.4
+2.1 %
EBIT margin (% of revenue)
10.6 %
12.7 %
-2.1 PP
Net profit
30.6
29.1
+5.2 %
Capital expenditures and investments
15.4
52.6
-70.7 %
Personnel
3,281
2,794
+17.4 %

Financial highlights 1H 2017:

  • Revenues increased by 23.2%, influenced by:
    • wheels sales increase of 15.7%
    • product mix with higher value added
    • aluminum price adjustments
  • Material costs rose by 37.2%, reflecting higher LME aluminum prices and energy costs
  • Personnel costs (+24.9%) in line with revenues, impacted by staff recruitments for new plant and wage increases
  • EBITDA increased by 11.3% to EUR 40.3 mln
  • EBIT up by 2.1% to EUR 29.0 mln
  • Finance: net debt at EUR 52.3 mln
  • Net profit (+5.2%) amounts to EUR 30.6 mln

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Uniwheels AG published this content on 08 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 09 August 2017 07:41:03 UTC.

Original documenthttp://www.uniwheels.com/uwag/en/home/press/latest-news/news-2017/

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