BERU Achieves Double Digit Quarterly Revenue Growth
Beru AG’s preliminary first quarter figures show the company increased its total sales revenues in the first quarter by 14.5 per cent to 97.9 million euros. The company attributed the strong first quarter results to new product “start-ups” in the core division of Diesel Cold Start Technology and in the youngest division of Electronics and Sensor Technology, which includes TPMS sensors.
According to executive board chairman, Marco von Maltzan, the group now plans to achieve growth in sales revenues at a high single-digit percentages in its current financial year. The goal is for operating profit (EBIT) to increase at the same rate as sales revenues. Beru considers itself well positioned with its strong product pipeline, but expects weaker growth in the coming quarters in view of only moderate growth in demand for automobiles combined with an increasingly competitive environment and more aggressive pricing.