Individual view
12/05/2009

Even during the crisis, Eberspächer considers itself well prepared: Good results in 2008 with an optimistic view for the future

Esslingen, May 12, 2009 – Despite a slump during the last quarter, Eberspächer achieved a very satisfactory Group result during the financial year 2008, and sales were at the same level as the previous year. The Esslingen-based automotive supplier responds to the current crisis with capacity adjustments, short-time work and strict cost management. At the same time, it sets the wheels in motion for future growth in new market and technology segments.

"2008 was one of the best business years in the recent company history of Eberspächer", explains President/Managing Partner Heinrich Baumann: "Without the slump during the fourth quarter, I am sure that we would have been able to perform even considerably better. By the end of the year, the Group result amounted to approximately 43 million Euros after taxes (previous year: close to 31 million Euros).”

Group sales, which the Group generated with 5,575 employees in 2008, amounted to more than 2.2 billion Euros and was only slightly less than the previous year's figure. Around 45 percent of this is accounted for by exports and foreign subsidiaries. In the largest division Exhaust Technology, gross sales were more than 1.9 billion Euros; net sales (excluding items in transit) amounted to more than 950 million Euros (plus 1.5 percent).

The division Vehicle Heaters achieved sales of more than 313 million Euros, which is 6.9 percent less than in the previous year. The seasonal winter business in pre-heaters was particularly affected by the slumps in November and December, as these months normally account for very high sales volumes.

During the first quarter of 2009, the Eberspächer Group had to cope with an average fall in sales of approximately 34 percent compared to the same period of the previous year. The supplier does not expect a quick upswing in the economic situation of the automotive industry, but rather assumes a gradual recovery.

As a reaction to the economic situation, the company implemented or initiated personnel cuts at all of its sites. Including contract staff and contingent employees, 920 employees are affected worldwide, of which 420 are located in Germany. In Germany, 116 employees at the closed production sites Sindelfingen and Unna are affected by terminations of employment for operational reasons. In case of structural problems, adjustments must be implemented consistently and excess personnel capacities must be reduced, Baumann emphasizes. Otherwise, the supplier opts for short-time work, which by now has been applied for or introduced at almost all German sites. "After all, even when the crisis is over, we would like to work again successfully with our established permanent staff", says Baumann.

With its future-oriented product and technology portfolio, Eberspächer considers itself well prepared and equipped for the success after the crisis. Tomorrow's stringent exhaust emission standards in the commercial and off-road vehicle sector – construction machines, tractors, stationary engines, etc – present a global area of growth. Also, the introduction of more stringent emission directives in emerging markets such as India and Brazil offers outstanding prospects for the exhaust specialist.

Eberspächer, presently the world's sole complete supplier in the Vehicle Heaters area, offers custom-engineered system solutions for every vehicle type and every drive concept. With air and water heaters powered by fuel or electricity, the supplier strategically positioned itself as a specialist in innovative heating technology for hybrid, fuel-cell and electric vehicles.

At the same time, the company is establishing a third business division in the field of vehicle electronics and development tools for automobile bus systems such as CAN, LIN, MOST and FlexRay. In the field of vehicle electronics, the development proceeds in such a dynamic way that Eberspächer expects a turnover in the triple-digit million range. Big growth drivers are the complex control units by the Herxheim-based subsidiary Eberspächer Controls, which are being used in vehicles with state-of-the-art start-stop-functions.


Captions:

Photo "Eberspächer Production Exhaust Technology":

For the exhaust specialist Eberspächer, tomorrow's stringent exhaust emission standards in the commercial vehicle sector present a global area of growth.


Photo "Eberspächer Production Vehicle Heating":

In 2008, Eberspächer manufactured more than 600,000 fuel-powered heaters: Despite the crisis, the production volume showed a renewed increase last year.



Key Figures of the Eberspächer Group

2008
Mio. EUR

2007
Mio. EUR

Change
in %

Sales revenue

2.239,9

2.250,4

- 0,5

Share abroad in %

45,0

52,3

-

Own funds in %*

26,7

22,3

-

Fixed asset expenditure

65,2

47,3

+ 37,8

Depreciation

48,3

47,2

+ 2,3

Research and development expenditure

82,6

70,2

+ 17,7

Profit on sales in % (after taxes)

1,9

1,4

-

Number of employees (average number of employees including trainees)

5.575

5.477

+ 1,8

(* Incl. partner loans)

 

 

 

 

Eberspächer Climate Control Systems GmbH & Co. KG
Public Relations
Eberspächerstraße 24
73730 Esslingen / GERMANY

Phone + 49 711 939-0250
Fax + 49 711 939-0642
presse@eberspaecher.com
www.eberspaecher.com

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