Global filtration expert MANN+HUMMEL has published preliminary key figures for the financial year of 2016. The company has reported sales revenue of 3.5 billion euros (approx. $3.7 billion USD) in the financial year of 2016, meeting its forecast from July 2016. The Affinia Group, which the company acquired in May 2016, contributed approximately 500 million euros (approx. $538 million USD) to the sales revenue of the MANN+HUMMEL group.
“In 2016 we made some important strategic decisions. The successful acquisition of the Affinia Filtration Group and the restructuring of important production locations in Germany and Brazil will enable us to further improve profitability in the coming years. The fourth quarter of 2016 was positive in terms of sales revenue and earnings, therefore we look forward to the financial year of 2017 with optimism and energy,” said Alfred Weber, president and CEO.
MANN+HUMMEL will present its business figures at its annual financial statement press conference on May 10 in Ludwigsburg, Germany. This year will be the first business year in which the Affinia Group is fully consolidated. In 2016, the new subsidiary achieved sales revenue of approximately 760 million euros (approx. $818 million USD), of which, however, only eight months can be apportioned to the MANN+HUMMEL Group.
In 2017, MANN+HUMMEL says it will further strengthen its competitiveness through a growth strategy to open up new markets and also through measures to increase efficiency. The sales revenue forecast for 2017 is expected to be similar to the previous year, the company stated.
