Uniwheels profit up 67% in H1 2015
Alloy wheel manufacturer Uniwheels AG reports sales of 3.9 million wheels in the first half of 2015, 11.3 per cent more than a year earlier and a record first-half volume. This gave the company revenues of €217.0 million, a year-on-year increase of 26.8 per cent. EBITA rose 30.2 per cent in the January to June period to €27.9 million and the margin increased from 12.5 to 12.8 per cent. Net profit rose 66.9 per cent to €19.3 million.
“The year 2015 will be influenced by increasing wheel demand from European car manufacturers, we are operating at maximum capacity and driven by an increased aluminium price influencing revenues and material costs,” commented Ralf Schmid, chief executive officer of Uniwheels AG. “For the Fiscal Year 2015, we expect a sales increase with an upper single-digit growth. Revenue will further be influenced by a higher-value product mix and aluminium price adjustments leading to an expected growth of 15 per cent to 20 per cent.
“Overall, we are very satisfied with market situation and our group’s performance in the first half of 2015,” added chief financial officer Dr Karsten Obenaus. “For the whole year we expect an EBITDA growth in line with sales development. Stringent cost management will show its effects.”
Uniwheels AG recently undertook an initial public offering and debuted on the Warsaw Stock Exchange. The company received gross proceeds of approximately €62.7 million from the issue of new shares. Proceeds from the offering are being used to finance the construction of a new production plant in Stalowa Wola, Poland, which will allow Uniwheels to increase its overall production capacity by some 2 million wheels to a total of almost 10 million by 2018. Construction work in Stalowa Wola began in July. The Stalowa Wola site is already the world’s largest contiguous light alloy wheel production site, and after the completion of the new plant the three adjacent factories will boast an annual capacity of up to around 9 million wheels.