Montupet: First half 2014 turnover up by 7,5%

The Montupet Group has published today its turnover up to June 30, 2014.

 In M€ - IFRS
2014
2013
Variation
Variation at constant metal and exchange rates


1st quarter
122,4
111,6
+9,7%
+11,1%


2nd quarter
116,6
110,8
+5,2%
+4,6%


TOTAL
239,1
222,4
+7,5%
+7,8%


On-going activities only (IFRS 5)
 
 
 


In M€ - IFRS
First half 2014
First half 2013
Variation
Variation at constant metal and exchange rates


France
76,2
65,2
+16,9%
+13,7%


Spain
31,6
32,5
-2,8%
-0,6%


United Kingdom
63,7
65,4
-2,6%
-2,2%


Bulgaria
49,8
40,2
+24,0%
+25,6%


Mexico
17,8
19,2
-7,4%
-0,8%


TOTAL
239,1
222,4
+7,5%
+7,8%

Montupet turnover is up by 7,5% (or +7,8% at constant metal and exchange rates) for the first half of 2014, confirming that the Group is on track despite two unfavourable factors encountered during the second quarter:

a drop in demand from Ford in North America, with a direct impact on Montupet's plants in Mexico and Northern Ireland,
the effect on the market of Easter and extended French holiday periods in May.

On the other hand, operational profitability was improved thanks to other particularly favourable factors:

very strong growth at the two French plants, which are the most sensitive to volume fluctuations,
very strong growth at the Bulgarian plant, which is the most profitable in the Group,
the implementation of a cost saving programme in Belfast, made easier by a stable operating environment.

Thus, despite turnover which is likely to increase somewhat less than initially expected in 2014, the Group confirms and maintains the objective of improvement of the operating margin in 2014.

In the longer term, the Group is comforted in its positive outlook with the award of new business from Ford and from Audi in North America. This mainly involves additional volume of an existing cylinder head, requiring minimum investment in equipment and reduced development work. Thanks to this new business, the production at the plant in Mexico should come close to 2 million heads per year by 2018.

Next publication : First-half 2014 results, September 19, 2014 after the closure of the markets.