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    Power politics over ICE ban – Will OEMs get their way?
    In October 2022, EU lawmakers agreed on a new carbon dioxide (CO2) fleet regulation for passenger cars and light commercial vehicles, adopting the target of zero CO2 emissions by 2035. As CO2 emissions are measured exclusively at the tailpipe, this decision is effectively a ban on vehicles with internal combustion engines (ICEs). Although a final rubber-stamp vote by EU member states was scheduled for earlier this March, a coalition of EU countries (led by Germany) is now looking to oppose th...
    Insights
    Talking Heads: Software defined vehicles
    Software-defined vehicles (SDVs) have been everywhere these past few months, with the noise reaching a crescendo after the recent CES in Las Vegas. Trouble is, it’s not exactly new. It’s just that the auto industry loves a mega trend or a concept that helps explain everything. And to be fair, SDV does knit together a whole gamut of developments in the industry rather neatly.  Click the link above to download the whole article.
    Insights
    ZF registered sales of EUR43.8 billion in FY 2022, up 14.3%
    ZF posted a 14.3% year-on-year (y/y) increase in full-year consolidated sales to EUR43.8 billion (around USD46.6 billion), according to a press filing on 16 March. Its net EBIT was EUR2,038 million, compared with EUR1,910 million in FY 2021. “Our most important task is to focus ourselves, and to push change and gain speed. We have launched a comprehensive performance program to accelerate processes, simplify decision making, and maintain cost discipline,” said ZF CEO Dr. Holger ...
    News
    Continental’s FY 2022 sales up 16.7% y/y to USD41.9 billion
    Continental posted a 16.7% year-on-year (y/y) increase in full-year consolidated sales to EUR39.41 billion (around USD41.9 billion), according to a press filing on 8 March. Its net income was EUR66.6 million, compared with EUR1.44 billion in FY 2021. Continental said that its financial performance was impacted by the effects of the war in Ukraine, the restrictions due to the coronavirus pandemic in mainland China, semiconductor shortage, and additional costs of around EUR3.3 bi...
    News
    Luminar reports 27.4% y/y increase in FY2022 revenues to USD40 million
    Luminar has announced at Luminar Day its quarterly business update and financial results for the fourth quarter and full year of 2022, ended 31 December 2022. The company reported fourth quarter revenue of USD11.1 million and full-year revenue of USD40.7 million. Both are at the lower end of the guidance range primarily due to the timing of the program and service revenue recognition. The company reported fourth quarter GAAP net loss was USD144.8 million; fourth quarter Non-GAAP net loss...
    News
    Gestamp posts 32.5% y/y increase in FY 2022 revenue to USD11.31 billion
    Gestamp has reported a year-on-year (y/y) increase of 32.5% in FY 2022 revenue at EUR10.73 billion (USD11.31 billion), compared with EUR8.09 billion in FY 2021, according to a filing by the company on 27 February. Net income came in at EUR260 million for the year compared with EUR155 million in 2021. It posted a 21% growth in EBITDA. “Despite being one of the most adverse environments in decades, the company has managed to exceed its pre-COVID levels, achieving results that allow us to face...
    News
    Pirelli’s 2022 net income rises 35.5% y/y to USD465.4 million on higher revenues
    Pirelli has reported 35.5% year-over-year (y/y) increase in net income to EUR435.9 million (USD465.4 million) in the financial year ended 31 December 2022, the Italian tiremaker said in a press release on 22 February. Revenues were up 24.1% y/y to EUR6.6 million, driven by organic growth and better price-mix. Pirelli reported adjusted EBIT of EUR977.8 million, up 19.9% y/y, leading to adjusted EBIT margin of 14.8%. Pirelli spent EUR263.9 million on research and development (R&D), which wa...
    News
    Valeo reports 16% y/y increase in FY 2022 sales to USD21.31 billion
    Valeo has posted a 16% year-on-year (y/y) growth in sales for fiscal 2022, according to a filing on 23 February. Sales came in at EUR20.04 billion (USD21.31 billion) compared with EUR17.26 billion a year earlier. Net income was EUR230 million versus EUR175 million last year. Research and development (R&D) expense for the year was EUR1.88 billion compared to EUR1.51 billion a year earlier. “Leveraging the acceleration in these two sustainable mobility megatrends, we are targeting strong ...
    News
    Gentherm posts 15.2% y/y increase in FY2022 product revenues to USD1.20 billion
    US-based thermal management technology provider, Gentherm, has generated a revenue of USD1.20 billion in FY 2022, an increase of 15.2% year-on-year (y/y) from the USD1.05 billion last year, according to a 22 February press release. Operating income was down to USD48.3 million from USD115 million a year earlier. Net research and development (R&D) expenses for the fiscal grew 14% y/y to USD 85.7 million. For the fourth quarter, product revenues increased 38.3% from USD248.2 million to USD34...
    News
    Garmin’s FY 2022 net sales down 2% y/y to USD4.86 billion
    Garmin has reported a 2% year-on-year (y/y) decrease in net sales for FY 2022 to USD4.86 billion, according to an official filing on 22 February. Net income for the period fell to USD983.6 million from USD1.08 billion. Gross margin declined to 57.7% form 58% last fiscal. Operating income slid to USD1.03 billion from USD1.22 billion and research and development (R&D) expenses for the period was USD834.9 million compared to USD778.6 million. “Our performance in 2022 was solid even as we f...
    News
    Dana posts 14.6% y/y increase in FY 2022 sales to USD10.16 billion
    US automotive components and systems supplier Dana has reported a 14.6% year-on-year (y/y) increase in sales for FY 2022 to USD10.16 billion, according to a company press release on 21 February. Dana posted net sales of USD8.94 billion last year. Net loss attributable to the owners came in at USD242 million compared to a profit of USD197 million. “As we closed out 2022, Dana achieved many of its goals, including sales growth and cash flow in a challenging environment.  We experienced u...
    News
    AAM reports 10-fold jump in 2022 net income on higher sales
    American Axle & Manufacturing (AAM) has reported more than 10-fold increase in net income to USD64.3 million in the financial year ended 31 December 2022, the US-based driveline specialist said in a press release on 17 February. Sales increased 12.5% year-over-year (y/y) to USD5.8 billion. AAM also reported a marginal improvement in operating income to USD243.9 million. The Driveline segment reported sales of USD4.1 billion, up from USD3.7 billion a year earlier. In Metal Forming segment,...
    News
    Yokohama reports 28% y/y rise in FY 2022 sales to USD6.42 billion
    Yokohama Rubber has reported a 28% year-on-year (y/y) increase sales for full year at JPY860.47 billion (USD6.42 billion), according to its press filing on 17 February. Profit attributable to owners of parent dropped to JPY45.92 billion from JPY58.75 billion last year. Operating profit totaled JPY68.85 billion compared to JPY83.64 billion. Increase in sales was offset by adverse factors such as the conflict in Ukraine resulting in upturns in raw material prices and logistics costs, reduced pr...
    News
    Faurecia’s FY 2022 sales up 63% y/y to USD27.22 billion
    Faurecia has reported a 63% year-on-year (y/y) growth in sales to EUR25.46 billion (USD27.22 billion) for the full year 2022, it said in a press release dated 20 February. The financial numbers for the year include those of Hella, which was acquired last fiscal. Operating income for the year was EUR769 million compared to EUR896 million last year, while consolidated net loss widened to EUR382 million from EUR79 million a year earlier. “2022, which was initially expected to be a year of reco...
    News
    American Axle & Manufacturing y/y sales up by 12.5% in FY2022 to USD5.80 billion  
    According to a company release on 17 February, US-based automotive supplier of axles and driveline systems American Axle & Manufacturing (AAM) has reported total sales of USD5.80 billion FY 2022, up by 12.5% against the same period last year. The net income in the fiscal year is USD64.3 million at 1.1% of the sale. In the fourth quarter of FY 2022, the total sale USD1.39 billion, and the net income of USD13.9 million.  The increase in annual and four-quarter sales is attributed ...
    News
    Bridgestone’s FY 2022 revenue rises 26.6% y/y to USD30.69 billion
    Bridgestone has reported a 26.6% year-on-year (y/y) rise in sales for FY2022, it said in a press release on 16 February. Sales came in at JPY4.11 trillion (USD30.69 billion) compared to JPY3.25 trillion last year. Net profit was JPY305.51 billion for the same period, compared to JPY307.87 billion a year earlier. The company’s operating profit rose to JPY441.30 billion from JPY376.80 billion in the previous corresponding period. Demand for new tires was sluggish during the first half of fisc...
    News
    Visteon posts 35.4% y/y increase in FY 2022 net sales to USD3.76 billion
    Visteon has posted net sales of USD3.76 billion for FY 2022, a 35.4% year-on-year (y/y) increase from last year, according to a company press release on 16 February. Net income for the period came in at USD124 million compared to USD41 million year earlier. Income before income tax was USD175 million in 2022, up from USD81 million a year earlier. Cash used for capital expenditures was USD81 million. For the fourth quarter, Visteon reported a 34.5% rise in net sales at USD1.06 billion and net ...
    News
    Ichikoh reports 7.9% y/y growth in FY 2022 net sales to USD1.05 billion
    Ichikoh has posted a 7.9% year-on-year (y/y) rise in net sales for fiscal 2022 at JPY135.45 billion (USD1.05 billion), according to a company press release dated 13 February. Operating income for the year fell 29.2% y/y to JPY3.94 billion while net income increased to JPY4.42 billion from JPY3.98 billion. Its automotive parts business segment saw sales rise by 8.6% y/y to JPY127.93 billion while its automotive aftermarket segment saw sales of JPY9.07 billion compared to JPY8.52 billion last y...
    News
    Tachi-S reports 2.7% y/y fall in Q3 FY23 sales to USD531.4 million
    Japanese interior parts supplier Tachi-S has reported a 2.7% year-on-year (y/y) fall in net sales for the third quarter FY 2023 at JPY69.74 billion (USD531.4 million), according to a company press release on 10 February. The company posted a net loss of JPY5.75 billion compared with an income of JPY2.42 billion in the previous fiscal year. Operating loss for the third quarter of FY2023 widened to JPY10.60 billion, from a loss of JPY3.08 billion a year earlier. Research and Development (R&D) ...
    News
    Magna’s FY 2022 net sales up 4.40% y/y to USD37.8 billion
    Magna has reported a 4.40% year-on-year (y/y) growth in net sales for the full year 2022 at USD37.8 billion, according to a company press release on 10 February 2023. Operating income fell to USD878 million from USD1,948 million, while net income declined to USD641 billion from USD1,553 million. The company said that this decrease mainly reflects higher net production input costs, including energy, commodity, labor and freight costs, inefficiencies and other costs at certain underperforming f...
    News
    Goodyear’s FY 2022 net sales rises 19% y/y to USD20.80 billion
    Goodyear has reported 19% year-on-year (y/y) growth in full-year 2022 revenue to USD20.80 billion, compared to USD17.47 billion previous year, a company press release dated 8 February 2023 read. The net income fell to USD209 million in FY2022 from USD870 million in FY 2021. The company reported a loss of USD104 million, or a loss of 37% a share, for the fourth quarter, compared to net income of USD553 million a year earlier. Sales rose around 6% to USD5.37 billion from USD5.05 billion. Goodye...
    News
    AGC posts 19.9% y/y growth in FY 2022 net sales to USD15.45 billion
    AGC has reported net sales of JPY2.04 trillion (USD15.45 billion) with a year-on-year (y/y) increase of 19.9% compared to JPY1.70 trillion for full year 2022, according to a filing by the company on 8 February. Operating profit for the reporting period was JPY183.94 billion compared to JPY206.17 billion. Loss for the full year was JPY3.15 billion versus profit of JPY123.84 billion. In architectural glass market, sales prices rose mainly in Europe. In the automotive glass business, automobile ...
    News
    Cerence reports 11.3% y/y fall in Q1 FY23 revenue to USD83.7 million
    Cerence has reported a 11.3% year-on-year (y/y) fall in revenue for the first quarter of 2023 at USD83.7 million, according to a company press release on 8 February. Net loss for the period came in at USD2.2 million compared to a profit of USD19 million last year. Gross margin was 68.7% versus 74.3% last year. “We had a strong start to the fiscal year with revenue higher than projected in the core business due to stronger than expected contributions from connected services, professional ser...
    News
    Adient reports 6.3% y/y increase in Q1 revenue to USD3.70 billion
    Adient has posted a 6.3% year-on-year (y/y) increase in revenue for the first quarter at USD3.70 billion, according to a press filing on 7 February. Net income came in at USD12 million compared to a loss of USD54 million in the previous corresponding period. “Adient’s global teams executed well despite the challenging operating environment, delivering improved y/y financial results. Adient’s solid operational execution combined with an intense focus on cash management enabled the compan...
    News
    Qualcomm reports 12% y/y fall in Q1 revenue to USD9.46 billion
    Qualcomm’s first quarter revenue fell by 12% year-on-year (y/y) to USD9.46 billion, the company said in a press release on 2 February. Net income for the quarter came in at USD2.24 billion compared with USD3.40 billion a year earlier. Revenue from ‘Qualcomm CDMA Technologies’ (QCT) business dropped 11% y/y to USD7.89 billion while revenue from its Qualcomm Technology Licensing business (QTL) climbed 16% lower to USD1.52 billion. Its automotive business in QCT rose 58% y/y to USD456 mill...
    News
    DENSO reports Q3 2022 revenue at USD34.6 billion, up 15.6% y/y
    DENSO has reported third-quarter revenue at JPY4,635.7 billion (USD35.6) billion with year-on-year (y/y) growth of 15.6% compared with JPY3,508.6 billion in the third quarter of 2022 for the three months ended 31 December 2022, according to a filing by the company on 3 February 2023. Operating income for the first quarter was JPY267.9  billion, a 4.6% increase from third quarter of 2021. In Japan, sales climbed to JPY2,691.7 billion, up 3.9% from the prior year, while operating profit in...
    News
    Aptiv’s FY 2022 revenue rises 12% y/y to USD17.49 billion
    Aptiv has reported 12% year-on-year (y/y) growth in full-year 2022 revenue to USD17.49 billion, a company press release dated 2 February read. Operating income rose to USD1.26 billion from USD1.19 billion a year earlier while net income fell to USD590 million from USD609 million. “We achieved a second year of record new business bookings and revenues increased 16% in 2022. Despite macroeconomic uncertainty, supply disruptions and inflationary cost impacts that are likely to persist in 2023,...
    News
    Bosch posts 12.3% y/y increase in FY 2022 revenue to USD96.95 billion
    Bosch has reported a 12.3% year-on-year (y/y) increase in fiscal 2022 revenue at EUR88.4 billion (USD96.95 billion), according to a company press release dated 3 February. EBIT (earnings before interest and taxes) from operations came in at EUR3.7 billion compared to EUR3.2 billion a year earlier. “The difficult 2022 business year once again demonstrated that Bosch is crisis-proof while possessing tremendous innovative strength. In an environment that remains challenging, we are securing ou...
    News
    Infineon posts 25% y/y growth in first-quarter revenue to USD4.31 billion
    Infineon has reported a 25% year-on-year (y/y) increase in revenue for the first quarter of fiscal 2023 at EUR3.91 billion (USD4.31 billion), according to a company press release on 2 February. Operating profit for the period grew to EUR729 million from EUR461 million last year while net profit surged 59% y/y to EUR728 million. “Infineon is staying on course in choppy waters, and the first quarter of our 2023 fiscal year has been very profitable. Substantial parts of our business have ...
    News
    TomTom posts 5.8% y/y increase in 2022 revenue to USD588.2 million
    TomTom has reported a 5.7% year-on-year (y/y) growth in FY 2022 revenue at EUR536.3 million (USD588.2 million), a press filing by the mapmaker on 3 February showed. Net loss for the year widened to EUR102.7 million from EUR94.7 million a year earlier. Gross margin increased to 84% compared to 80%. Overall research and development (R&D) expenses for the full year was EUR366 million. For the fourth quarter, TomTom’s revenue was EUR139 million compared to EUR115.2 million in the previous c...
    News
    SiriusXM’s FY 2022 revenue climbs 4% higher y/y to USD9.0 billion
    SiriusXM has reported an 3.5% year-on-year (y/y) increase in revenue for fiscal year 2022 to USD9 billion, according to its press release on 2 February. Net income fell to USD1.21 billion from USD1.31 billion last year, while income from operations rose to USD2.04 billion from USD2.02 billion. Engineering, design, and development costs increased 7.5% to USD285 million. For the fourth quarter, SiriusXM’s revenue grew 1.8% to USD1.73 billion while the company posted a net income of USD365 mil...
    News
    NXP posts 19% y/y increase in FY 2022 revenue to USD13.21 billion
    NXP has reported a 19% year-on-year (y/y) growth in FY 2022 revenue to USD13.21 billion, according to a company press release on 30 January. The company’s operating income climbed 47% higher y/y to USD3.80 billion. Operating Margin for the year was 28.8% compared to 23.3% last year. “In the fourth quarter, revenue was USD3.31 billion, an increase of 9% year-on-year, in line with the mid-point of our guidance range. From an end-market perspective, our automotive business performed very wel...
    News
    Autoliv reports FY 2022 net sales at USD8.84 billion, up 7.4%
    Autoliv has reported a 7.4% year-on-year (y/y) rise in net sales to USD8.84 billion for the full year (FY) 2022, compared to USD8.23 billion in the last year, a company press release read on 27 January 2023. Operating income for the year was reported at USD659 million for FY 2022 compared to USD675 million in the last financial year, a 2.3% decline from 2022. Mikael Bratt, president and CEO commented, “The fourth quarter and the full year 2022 were important steps toward our medium-term tar...
    News
    STMicroelectronics posts 26.4% y/y growth in FY2022 net revenue to USD16.13 billion
    STMicroelectronics has reported a 26.4% year-on-year (y/y) growth in revenue for full year 2022 at USD16.13 billion, according to a company press release on 26 January. Operating income rose to USD4.44 billion from USD2.42 billion, while net income nearly doubled to USD3.96 billion from USD2 billion. Research and development (R&D) costs were USD1.90 billion for the year. In terms of product groups, net revenue of the Automotive and Discrete Group (ADG) climbed 37.2% y/y to USD5.97 billion...
    News
    Mobileye reports FY2022 revenue at USD1.87 billion, up 25.8%
    Mobileye has reported a 25.8% year-on-year (y/y) rise in revenue to USD1.8869 billion for the full year 2022, compared with USD1.386 billion in the previous year, a company press release read on 26 January 2023. Operating loss for the year was reported at USD37 million compared with USD57 million in the previous year. Net loss was reported at USD82 million against USD75 million in the previous year. The company said that the future business backlog continues to g...
    News
    Magna updates full-year 2022 outlook
    In a press release announcement on 24 January 2023, Magna International said that it has updated its 2022 outlook to reflect an expected Adjusted EBIT Margin1 below the range disclosed in its press release dated 4 November 2022. According to early, unaudited statistics, overall sales for 2022 were around USD37.8 billion, compared to the range of USD37.4 to USDD38.4 billion projected in November. However, the adjusted EBIT margin is anticipated to be roughly 4.3% in 2022, which is below t...
    News
    Texas Instruments posts 9.2% y/y growth in FY 2022 revenue to USD20.03 billion
    Texas Instruments has reported a 9.2% year-on-year (y/y) increase in revenue for FY2022, a press filing by the US company on 24 January showed. Revenue climbed to USD20.03 billion from USD18.34 billion in the previous corresponding period. Net income rose 12.6% to USD8.75 billion while operating profit came in at USD10.14 billion compared to USD8.96 billion last year. Revenue from the company’s ‘Analog’ segment, which forms the largest part of the group’s business, rose 9% y/y to USD1...
    News
    Autoneum’s FY 2022 revenue rises 6.1% y/y to USD1.97 billion
    Autoneum has posted a 6.1% year-on-year (y/y) increase in revenue for the full year 2022, according to a company press release dated 20 January. Revenue came in at CHF1.80 billion (USD1.97 billion), from CHF1.70 billion. Revenue of Business Group Europe increased by 2.7% even as production volumes of vehicle manufacturers decreased by 1.3%. The growth in revenue resulted from inflation compensation, while Autoneum's production volumes were significantly lower compared to the previous year. ...
    News
    Chinese lidar technology company Hesai to debut on Nasdaq
    China-based lidar company Hesai Technology has submitted a prospectus in preparation for its listing on the Nasdaq under stock code ‘HSAI’, according to a report published by Pandaily on 18 January 2023. According to market speculations, the company intends to raise USD150 million through this deal, and its worth might exceed USD3 billion. Hesai was established in Shanghai in 2014 and is a market leader in autonomous driving and advanced driver assistance system (ADAS) lidar. Lidar is ...
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    Hella’s HY 2022 sales up 25.7% y/y to USD4.12 billion
    HELLA has reported a 25.7% year-on-year (y/y) growth in sales for the first half at EUR3.82 billion (USD4.12 billion), according to a financial filing dated 13 January. Its adjusted earnings before interest and taxes (EBIT) came in at EUR162 million compared with a profit of EUR149 million last year, while the adjusted EBIT margin was 4.3% compared with 4.9% a year ago. “After a strong start to the fiscal year, we accelerated our successful business development even further in the second qu...
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    Indian auto component industry grows 35% y/y in H1 FY 2023, reports ACMA
    The Indian auto component manufacturing industry’s turnover in the first half of fiscal 2022–23 stood at USD33.8 billion, registering a growth of 34.8% y/y over the first half of fiscal year (FY) 2022, Automotive Component Manufacturers Association of India (ACMA) reported on 21 December 2022 while disclosing its findings of the industry performance review. Commenting on the performance of the auto component industry in India, Vinnie Mehta, Director General, ACMA said, “With vehicle sal...
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    Mobileye reports Q3 2022 revenue at USD450 million, up 38% y/y
    Intel’s autonomous driving arm Mobileye has reported third quarter 2022 revenue at USD450 million, recording a growth of 38% over the corresponding period last fiscal, the company said on 7 December 2022. Mobileye reported revenue of USD326 million in the third quarter of 2021. The net loss of the quarter was reported at USD45 million compared to USD26 million in third quarter 2021. The company executed an initial public offering (IPO). Before underwriting discounts and fees, 51.9 million s...
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    Cerence’s FY2022 revenue falls 15.3% y/y to USD327.9 million
    Cerence has reported a 15.3% year-on-year (y/y) fall in full year (FY) 2022 revenue at USD327.9 million, according to a company press release on 29 November. Net loss for the period came in at USD310.8 million compared to a profit of USD45.9 million last year. Gross margin was 72.4% versus 77.3% last year. “Our fourth quarter operating results were better than expected, and as committed, included no contribution from fixed contracts. Most importantly, our bookings at USD684 million represen...
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    BorgWarner reports Q3 2022 net sales at USD4 billion, up 19% y/y
    Michigan-based automotive component supplier BorgWarner has reported third quarter 2022 net sales at USD4,060 million, recording a growth of 19% over the corresponding period last fiscal, the company said on 27 October 2022. BorgWarner had reported net sales of USD3,416 million in third quarter 2021. That said, according to the company, its organic sales during the period grew 29% compared with third quarter 2021. This was calculated after excluding the impact of foreign currencies, the 2022 ...
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    SiriusXM posts 3.7% y/y increase in Q3 revenue to USD2.28 billion
    SiriusXM has reported a 3.7% year-on-year (y/y) rise in revenue for the third quarter of fiscal 2022 to USD2.28 billion, according to its press release on 1 November. Net income was reported at USD247 million compared to USD343 million last year. Operating income for the quarter increased to USD467 million compared to USD628 million for the previous corresponding quarter. “SiriusXM delivered solid subscriber and revenue growth during the third quarter, and while we continue to closely monit...
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    Continental’s third quarter 2022 sales grows 29.3% y/y to USD10.4 billion
    Continental posted a 29.3% year-on-year (y/y) increase in third quarter revenue to EUR10.4 billion (USD10.44 billion), according to a press filing on 10 November 2022. Net loss was EUR211 million compared to a profit of EUR309 million a year earlier. Research and Development expenses for the quarter were EUR753.1 million compared to EUR657.2 million last year. The company stated in a statement, “Against a persistently challenging macroeconomic backdrop, Continental ended the third quarter o...
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    Linamar’s Q3 sales up 27.5% y/y to USD1.56 billion
    Linamar has reported a 27.5% year-on-year (y/y) increase in sales for the third quarter of fiscal 2022, in a press release dated 9 November. Sales came in at CAD2.10 billion (USD1.56 billion) compared to CAD1.64 billion in the previous corresponding period. Net earnings increased 22.4% y/y to CAD133.2 million. Operating income was CAD185.4 million during the quarter compared to CAD156.2 million. Sales for the Mobility division increased to CAD100.7 million from CAD86.2 million. “Our team is...
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    Qualcomm’s FY2022 revenue grows 32% y/y to USD44.20 billion
    Qualcomm’s fiscal year 2022 revenue surged 32% year-on-year (y/y) to USD44.20 billion, the company said in a press release on 2 November. Net income for the year came in at USD14.25 billion compared with USD9.81 billion a year earlier. “We are pleased to report another strong year, despite the macroeconomic challenges, as we continue to execute our strategy of transforming Qualcomm from a wireless communications company for the mobile industry to a connected processor company for the inte...
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    American Axle & Manufacturing reports Q3 2022 sales at USD1.54 billion, up over 27% y/y
    Detroit-based automotive supplier of axles and driveline systems American Axle & Manufacturing (AAM) has reported total sales of USD1.54 billion in third quarter 2022, up 27.2% y/y, the company said as it disclosed its quarterly performance on 4 November 2022. AAM’s sales in third quarter 2021 stood at USD1.21 billion. “On a year-over-year basis, sales for the third quarter of 2022 were favorably impacted from the recent Tekfor acquisition and volume and mix,” the company said ...
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    TE Connectivity posts 9% y/y growth in FY 2022 net sales to USD16.3 billion
    TE Connectivity has reported a 9.1% year-on-year (y/y) growth in net sales for the fiscal year 2022, according to a company press release on 2 November. Net sales came in at USD16.28 billion versus USD14.92 billion a year earlier. Net income was USD2.43 billion compared to USD2.26 billion a year earlier. Research and development (R&D) costs rose to USD718 million for the year, up from USD677 million last year. “For the full year, we delivered double-digit organic growth, including ...
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    Aptiv reports 26% y/y increase in Q3 revenue to USD4.6 billion
    Aptiv has reported a 26% year-on-year (y/y) growth in third quarter revenue to USD4.6 billion, a company press release dated 3 February read. Net income rose to USD286 million from USD86 million last year. “Strong third quarter results are a testament to our ability to execute well despite the ongoing macroeconomic pressures. In the quarter, we continued to demonstrate strong growth over underlying vehicle production and achieved record year-to-date bookings. We continue to focus on strengt...
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    Magna’s Q3 FY 2022 net sales up 17% y/y to USD9.3 billion
    Magna has reported third quarter net sales at USD9.3 billion with a year-on-year (y/y) increase of 17% compared to USD7.9 billion in the third quarter of 2022 for the three months ended 30 September 2022, according to a filing by the company on 4 November. Income from operations before income taxes increased to USD400 million for the third quarter of 2022 compared to USD27 million in the third quarter of 2021. Net income was reported at USD289 million for the third quarter of 2022 compar...
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    NXP’s Q3 FY 2022 revenue up 20.4% y/y to USD3.45 billion
    NXP has reported third-quarter revenue at USD3.45 billion with year-on-year (y/y) growth of 20.4% compared with USD2.8 billion in the third quarter of 2021 for the three months ended 30 September 2022, according to a filing by the company on 31 October 2022. Non-GAAP operating income for the third quarter grew 24% to USD1.9 billion compared with USD1.6 billion in the third quarter of 2021. “NXP delivered quarterly revenue of USD3.45 billion, an increase of 20% year-on-year and above the mid...
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    Adient’s Q4 2022 net sales up 31.76% y/y to USD3.65 billion
    Adient has reported fourth quarter 2022 net sales at USD3.65 billion, up 31.76% year-on-year (y/y) from USD2.77 billion from the previous year for three months ended 30 September, according to a filing by the company on 4 November. Operating income for the quarter was reported at USD138 million. Net income for the quarter was reported at USD45 million. Doug Del Grosso, president and CEO, said, “Adient’s unwavering focus on our strategy throughout FY 2022 enabled the company to drive ...
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    ams Osram’s Q3 2022 revenue down 5.55% y/y to USD1.19 billion
    ams Osram has reported third quarter 2022 revenue at EUR1.21 billion (USD1.19 billion), down 5.55% year on year (y/y) from EUR1.28 billion in the previous year for the third quarter of 2021, according to a filing by the company on 2 November. Operating income for the quarter was reported at EUR91 million. Alexander Everke, CEO of ams Osram, said, “As announced we are implementing additional cost mitigation measures to manage through the current and expected short-term market situation. Thes...
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    Elmos posts 48% y/y increase in Q3 sales to USD118.1 million
    Elmos Semiconductor has reported a 48% year-on-year (y/y) sales growth in the third quarter of fiscal 2022 at EUR119.6 million (USD118.1 million), a company press release on 3 November showed. EBIT for the period rose to EUR29.8 million from EUR13.6 million in the previous corresponding period while EBIT margin improved to 24.9% compared to 16.8% last year. “In a challenging environment, we performed extremely well in the third quarter of 2022 and have raised our full-year guidance. The con...
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    Leoni’s Q3 sales up 7% y/y to USD943.1 million
    Leoni has reported a 7% year-on-year (y/y) rise in preliminary sales for the third quarter at EUR955 million (USD943.1 million), the company said in a press release on 2 August. Loss before interests and taxes from continuing operations came in at around EUR71 million (USD69.4 million) compared to a loss of EUR20 million last year. Overall net sales increased due to growth in Wiring Systems Division following positive effects from copper price increases, FX and compensation payments made...
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    Aptiv’s Q3 FY 2022 revenue up 26% y/y to USD4.6 billion
    Aptiv has reported third quarter 2022 revenue of USD4.6 billion, up 26% year on year (y/y) from USD3.6 billion in the year-ago period, for the three months ended 30 September, according to a filing by the company on 3 November 2022. Net profit was reported at USD286 million, up 233% y/y from USD86 million, for the third quarter of 2022. Third quarter adjusted operating income was reported at USD525 million., compared to USD256 million in the prior year period. Adjusted Operating Income margin...
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    Cooper Standard’s Q3 2022 net sales up 24.76% y/y to USD657.15 million
    Cooper Standard has reported third quarter 2022 net sales at USD657.15 million with a year-on-year (y/y) increase of 24.76% compared to USD526.69 million in third quarter from the previous reporting period for the three months ended 30 September 2022, according to a filing by the company on 1 November. Operating loss for third quarter 2022 was reported at USD10.06 million. Net loss for the quarter was reported at USD32.68 million. Jeffrey Edwards, chairman and CEO, Cooper Standard, said,...
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    Modine reports 21% y/y increase in Q2 net sales to USD578.8 million
    Modine has posted a 21% year-on-year growth in second quarter net sales at USD578.8 million, according to a 2 November press release. Operating income came in at USD36.8 million compared to USD10.5 million. Net income was USD24.4 million compared to USD400,000 last year. “Our results this quarter clearly demonstrate that our strategic initiatives are beginning to unlock the value in Modine. Our renewed focus on select products and solutions, combined with our strong leadership team are prov...
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    Gentherm’s Q3 2022 revenue up 36.80% y/y to USD332.96 million
    Gentherm has reported third quarter 2022 revenue at USD332.96 million with a year-on-year (y/y) increase of 36.80% compared to USD243.83 million in third quarter from the previous reporting period for the three months ended 30 September 2022, according to a filing by the company on 2 November. Operating income for third quarter 2022 was reported at USD22.82 million, compared to USD20.70 million. Net income for the period was reported at USD9.82 million. Phil Eyler, the Company's President and...
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    Visteon’s Q3 sales climb 63% higher y/y to USD1.03 billion
    Visteon has posted net sales of USD1.03 billion for the third quarter, a massive 63% year-on-year (y/y) increase from last year, according to a company press release on 27 October. Net income for the period came in at USD44 million compared to USD5 million. Adjusted EBITDA was USD95 million or 9.3% of sales, an increase of USD53 million, driven by the favorable impact of higher sales volumes and the ongoing benefits from the restructuring actions initiated in 2020. “Our 14th consecutive gro...
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    Dana reports 15% y/y increase in Q3 net sales to USD2.54 billion
    US automotive components and systems supplier Dana has reported a 15% year-on-year (y/y) increase in net sales for the third quarter to USD2.54 billion, according to a company press release on 27 October. Dana posted net sales of USD2.20 billion last year. Net loss attributable to the owners came in at USD88 million compared to a profit of USD48 million. “Dana generated solid earnings and free cash flow again this quarter as end-market demand remained strong despite ongoing supply and produ...
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    BASF’s Q3 2022 net sales up 11.60% y/y to USD21.74 billion
    BASF has reported third quarter 2022 net sales at EUR21.94 billion (USD21.74 billion) with a year-on-year (y/y) increase of 11.60% compared to EUR19.66 billion in the third quarter from the previous reporting period for the three months ended 30 September 2022, according to a filing by the company on 26 October. Operating income for the third quarter 2022 was reported at EUR1.29 billion, compared to EUR1.82 billion. Net income for the period was reported at EUR909 million. Dr. Martin Bru...
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    Lear’s Q3 2022 net sales up 23% y/y to USD5.24 billion
    Lear Corporation has reported third quarter 2022 net sales at USD5.24 billion, up 23% year-on-year (y/y) from USD4.26 billion in the previous year for the three months ended October 2022, according to a filing by the company on 1 November. Operating income for the quarter was reported at USD154.9 million. Net income was reported at USD92.3 million. Ray Scott, Lear’s President and Chief Executive Officer, said, “We expect further improvement in both business segments in the fourth quarter....
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    Flex’s Q2 2022 net sales up 24.75% y/y to USD7.76 billion
    Flex has reported secind quarter 2022 net sales at USD7.76 billion with a year-on-year (y/y) increase of 24.75% compared to USD6.22 billion in third quarter 2021 for the three months ended 30 September 2022, according to a filing by the company on 26 October. Operating income for third quarter 2022 was reported at USD325 million, compared to USD237 million. Net income for the reporting period was reported at USD238 million. Revathi Advaithi, CEO of Flex, said, "The Flex team deliver...
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    Goodyear’s Q3 net sales rises 7.6% y/y to USD5.31 billion
    Goodyear has reported sales of USD5.31 billion for the third quarter of fiscal 2022, representing an increase of 7.6% year-over-year (y/y) from the USD4.93 billion in the precious corresponding period. In a press release dated 31 October, the company reported a net income of USD44 million for the same period, down from USD132 million last year. The company anticipates cost increase between USD300 to USD400 million for the first half of 2023 and cost inflation to peak in the fourth quarter giv...
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    Grammer’s 2022 nine months revenue up 13.57% y/y to USD1.59 billion
    Grammer has reported 2022 nine months revenue at EUR1.59 billion (USD1.59 billion) with a year-on-year (y/y) increase of 13.57% compared to EUR1.40 billion from the previous reporting period, according to a filing by the company on 27 October. Operating EBIT was reported at EUR1.9 million compared to EUR30.7 million. Jurate Keblyte, CFO of Grammer AG, said, “We can look back on a positive third quarter of 2022 in which the turnaround in sales in China, our operational improvements, and grad...
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    Gentex’s Q3 2022 net sales up 23.53% y/y to USD493.63 million
    Gentex has reported third quarter 2022 net sales at USD493.63 million with a year-on-year (y/y) increase of 23.53% compared to USD399.59 million in the third quarter from the previous reporting period for the three months ended 30 September 2022, according to a filing by the company on 28 October. Operating income for third quarter 2022 was reported at USD86.79 million, compared to USD88.16 million. Net income for the quarter was reported at USD72.65 million. Significance: According to G...
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    DENSO posts 16.9% y/y increase in Q2 revenue to USD20.9 billion
    DENSO has reported a 16.9% year-on-year (y/y) rise in consolidated revenue to JPY3.02 trillion (USD20.9 billion) for the second quarter ended 30 September 2022, the Japanese supplier said in a press release on 28 October. Operating profit for the period totaled JPY155.4 billion, down by 2.5% and net profit dropped 6.1% to JPY105.8 billion. “Revenue in the first half of our fiscal year increased compared to the previous year due to sales recovery, sales expansion and foreign exchange gains. ...
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    STMicroelectronics posts 35.2% y/y growth in Q3 revenue to USD4.32 billion
    STMicroelectronics reported a 35.2% year-on-year (y/y) growth in revenue for the third quarter of fiscal 2022 at USD4.32 billion, according to a company press release on 27 October. Operating income more than doubled to USD1.27 billion from last year, while net income rose to USD1.10 billion from USD474 million. In terms of product groups, net revenue of the Automotive and Discrete Group (ADG) climbed 55.5% y/y to USD1.56 billion, while revenue of the Analog, MEMS, and Sensors Group...
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    Valeo posts 33% y/y increase in Q3 net sales to USD5.27 billion
    Valeo has reported a 33% year-on-year (y/y) increase in third-quarter net sales at EUR5.26 billion (USD5.27 billion), according to a filing by the company on 27 October 2022. OE sales were up 24%. Acceleration in High-Voltage sales (formerly Valeo Siemens eAutomotive), up 61% to EUR321 million. Advanced driver assistance system (ADAS) OE sales were up 53%. Christophe Périllat, CEO said, “The strong sales growth in third-quarter 2022, in an environment still affected by the electronic compo...
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    Constellium’s Q3 revenue up 27% y/y to USD2 billion
    Aluminum products supplier Constellium has reported a 27% year-on-year (y/y) rise in third quarter fiscal 2022 revenue at EUR2 billion (USD2 billion), according to a company press release on 26 October. Adjusted EBITDA was EUR160 million, up 12% compared to Q3 last year while net income came in at EUR131million compared to EUR99 million a year earlier. “Constellium delivered strong results in the third quarter. Adjusted EBITDA of EUR160 million is a third quarter record and includes re...
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    Texas Instruments posts 13% y/y increase in Q3 revenue to USD5.24 billion
    Texas Instruments has posted a 13% year-on-year (y/y) increase in third quarter revenue at USD5.24 billion, a press filing by the US company on 25 October showed. Revenue climbed to USD5.24 billion from USD4.64 billion in the previous corresponding period. Net income rose 18% to USD2.30 billion. Revenue from the company’s ‘Analog’ segment, which forms the largest part of the group’s business, rose 13% y/y to USD3.99 billion, while revenue from ‘Embedded Processing’ segment climbed...
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    Autoliv reports 25% y/y increase in Q3 net sales to USD2.30 billion
    Automotive safety systems company Autoliv has reported a 25% year-on-year (y/y) increase in third-quarter net sales at USD2.30 billion, according to a filing by the company on 21 October. Operating income for the third quarter shot up 72% y/y to USD171 million, while net income surged 76% y/y to USD106 million, compared with USD60 million in the third quarter of 2021. “We expect continued sequential margin improvement in the fourth quarter, due to positive seasonal effects, price increases,...
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    Dow’s Q3 2022 net sales declines 4.85% y/y to USD14.11 billion
    Dow has reported third quarter 2022 net sales at USD14.11 billion with a year-on-year (y/y) decline of 4.85% compared to USD14.83 billion in third quarter from the previous reporting period for the three months ended 30 September 2022, according to a filing by the company on 20 October. Operating income for third quarter 2022 was reported at USD1.19 billion, compared to USD2.88 billion. Net income for the reporting period was reported at USD760 million. Jim Fitterling, chairman and CEO, Dow, ...
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    TomTom posts 7% y/y increase in Q3 revenue to USD132.3 million
    TomTom has reported a 7% year-on-year (y/y) increase in third quarter revenue at EUR136 million (USD132.3 million), a press filing by the mapmaker on 14 October showed. Revenue was EUR127.5 million a year ago. Net loss for the quarter narrowed to EUR17.5 million from a net loss of EUR20.8 million a year earlier. Gross margin was unchanged at 81%. Overall research and development (R&D) expenses for the period was EUR96.3 million. “We are very pleased with the performance this quarter, es...
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    HELLA’s Q1 FY2022 net sales grows 21.76% y/y to USD1.79 billion
    HELLA, a FORVIA company, has reported net sales of EUR1.790 billion (USD1.792 billion) for the fiscal first quarter 2022 ended 31 August, a year-on-year (y/y) increase of 21.76% from EUR1.470 billion, according to a filing by the company on 29 September. Earnings before interest and taxes (EBIT) came in at EUR75 million compared with EUR79 million in the same period last year, while EBIT margin was 4.2% compared with 5.4% a year ago. Michel Favre, CEO, HELLA, sai...
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    ADS-Tec Energy’s H1 2022 revenue declines 54.97% y/y to USD9.89 million
    ADS-Tec Energy has reported first half 2022 revenue at EUR9.43 million (USD9.89 million) with a year-on-year (y/y) increase of 54.97% compared to EUR20.94 million from the previous year for the six months ended 30 June, according to a filing by the company on 12 September. Operating income for first half 2022 was down EUR18.48 million. Net income for first half 2022 declined EUR7.30 million. According to ADS-Tec Energy’s financial statement, order backlog was more than EUR176 million f...
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    Brembo’s H1 2022 revenue grows 27.94% y/y to USD1.82 billion
    Brembo has reported first half 2022 revenue at EUR1.74 billion (USD1.82 billion) with a year-on-year (y/y) increase of 27.94% compared to EUR1.36 billion from the previous year for the six months ended 30 June, according to a filing by the company on 28 July. Operating income for first half 2022 was reported at EUR187.5 million. Net income for first half 2022 was reported at EUR148.9 million. Significance: According to Brembo’s financial statement, the company reported strong performan...
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    ABC Technologies’ Q4 2022 net sales grows 36.87% y/y to USD319.2 million
    ABC Technologies has reported fourth quarter 2022 revenue at USD319.2 million with a year-on-year (y/y) increase of 36.87% compared to USD233.2 million in the fourth quarter from the previous reporting period for the three months ended 30 June, according to a filing by the company on 2 September. Operating income for the quarter was reported at USD15.2 million, compared to USD26.9 million. ABC Technologies’ newly appointed President and CEO, Terry Campbell, said, “I’m excited to be join...
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    CATL’s H1 CY 2022 net profit grows 82.17% y/y to USD1.19 billion
    China’s largest battery manufacturer Contemporary Amperex Technology Company Ltd (CATL) has posted a revenue of CNY112.97 billion (USD16.5 billion) in the first half of CY2022, up 156.32% y/y, according to a news report published by CnEVPost on 24 August 2022. The news report cited a financial report released by the company in the local language. CATL’s net profit attributable to the shareholders in the first half of CY 2022 stood at CNY8.17 billion (USD1.19 billion), up 82.17% ...
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    NVIDIA posts 3% y/y growth in Q2 FY 2023 revenue to USD6.70 billion
    NVIDIA has reported a 3% year-on-year (y/y) growth in second quarter revenue at USD6.70 billion, according to a company press release on 24 August. Net income for the period dropped to USD656 million from USD2.37 billion a year earlier while gross margin was 43.5% compared to 64.2% last year. NVIDIA posted second-quarter revenue from its automotive business was USD220 million, up 45% from from a year earlier and up 59% sequentially. During the quarter, rollout plans of new model vehicles usin...
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    Indian auto component industry reports turnover of USD56.5 billion in FY 2021–22, grows 23% y/y
    The Automotive Component Manufacturers Association of India (ACMA), the apex body representing India’s auto component manufacturing industry, announced the findings of its ‘Industry Performance Review’ for FY 2021–22 on 22 August. In a press note released on Tuesday, ACMA said that the turnover of the automotive component industry stood at INR4.2 trillion (USD56.5 billion) for the period April 2021 to March 2022, registering a growth of 23% over the previous year. Commenting on the pe...
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    Novem’s Q1 2022/23 revenue grows 16.52% y/y to USD190.79 million
    Novem has reported its first quarter 2022/23 revenue at EUR181.9 million (USD190.79 million), up 16.52% y/y compared to EUR156.1 million from the previous year for the three months ended 30 June, according to a filing by the company on 18 August. Operating income for the quarter was reported at EUR21.1 million. Net income for first quarter 2022/23 was reported at EUR17.6 million. According to Novem’s financial report, Revenue Series reported EUR151.9 million, up 5.85% y/y. While R...
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    HELLA posts marginal fall in FY2021/22 sales to USD6.43 billion
    HELLA has reported a 0.8% year-on-year (y/y) decrease in sales for full year at EUR6.33 billion (USD6.43 billion), according to a financial filing dated 18 August. Earnings before interest and taxes (EBIT) came in at EUR279 million compared to EUR510 million last year, while EBIT margin was 4.4% compared to 8% a year ago. “In the past fiscal year, we were confronted with a variety of challenges on the market side: from bottlenecks in the global supply chains, the effects of the coronavirus ...
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    AGC’s H1 2022 net sales grows 20.58% y/y to USD7.17 billion
    AGC has reported in the first half of 2022 net sales at JPY978.34 billion (USD7.17 billion) with a year-on-year (y/y) increase of 20.58% compared to JPY811.33 billion in the first half from the previous reporting period for the three months ended 30 June 2022, according to a filing by the company on 2 August. Operating profit for the reporting period was reported JPY115.34 billion. Net income for the first half of 2022 was reported at JPY71.20 billion. Significance: According to AGC’s ...
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    ElringKlinger posts 9.4% y/y increase in Q2 FY 2022 revenue to USD437.9 million
    German automotive components supplier ElringKlinger AG has posted a 9.4% year-on-year (y/y) growth in second quarter revenue even as supply chain constraints offset favorable exchange rates, according to a company press release dated 4 August. Revenue came in at EUR430.6 million (USD437.9 million) compared to EUR393.6 million a year earlier. Net loss for the quarter was EUR94.1 million compared to a profit of EUR7.9 million last year. EBIT margin was -22.5% versus 5.9%. “The difficult econo...
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    thyssenkrupp’s Q3 2021/22 net sales grows 26.29% y/y to USD11.48 billion
    thyssenkrupp has reported third quarter 2021/22 net sales at EUR10.95 billion (USD11.48 billion) with a year-on-year (y/y) increase of 26.29% compared to EUR8.67 billion in third quarter from the previous reporting period of for the three months ended 30 June 2022, according to a filing by the company on 11 August. Operating income for third quarter 2021/22 was reported at EUR305 million, compared to EUR332 million. Net income for the reporting period was reported at EUR76 million. Klaus...
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    TS Tech’s Q1 2023 revenue declines 9.3% y/y to USD601.51 million
    TS Tech has reported first quarter 2023 revenue at JPY82.04 billion (USD601.51 million) with a year-on-year (y/y) decrease of 9.3% compared to JPY90.46 billion in first quarter from the previous reporting period for the three months ended 30 June 2022, according to a filing by the company on 10 August. Operating income for the reporting period was down JPY228 million. Net income for first quarter 2023 was down JPY1.20 billion. According to TS Tech’s financial report, Automobile’s seg...
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    Stanley Electric’s Q1 FY2023 net sales falls 1.4% y/y to USD689.2 million
    Stanley Electric has reported a 1.4% year-on-year (y/y) drop in net sales to JPY93.06 billion (USD689.2 million) for the first quarter of fiscal 2023, a company press release read on 29 July read. Net profit for the period fell to JPY2.57 billion from JPY6.06 billion in the same period last year. Total sales from its automotive equipment business fell around 3.2% y/y to JPY72.20 billion for the period, while sales from its electronics components business slid to JPY11.07 billion from JPY11.96...
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    Elmos reports 34.1% y/y rise in Q2 FY2022 sales to USD108.4 million
    Elmos Semiconductor has reported a 34.1% year-on-year (y/y) sales growth in second quarter of fiscal 2022 sales at EUR105.8 million (USD108.4 million), a company press release on 8 August showed. EBIT for the period rose to EUR25.2 million from to EUR12.5 million in the previous corresponding period while EBIT margin improved to 23.8% compared to 15.9% last year. “The persistently high demand for forward-looking Elmos semiconductor solutions is spurring on our business development and under...
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    Mitsuba Corporation’s Q1 2023 net sales declines 4.16% y/y to USD489.77 million
    Mistuba Corporation has reported first quarter 2023 net sales at JPY66.8 billion (USD489.77 million) with a year-on-year (y/y) decrease of 4.16% compared to JPY69.7 billion in first quarter of 2022, according to a filing by the company on 10 August. Operating income for the reporting period was down JPY1.9 billion. According to Mitsuba’s financial report, Transportation equipment-related operations segment reported net sales at JPY61.9 billion, down 6.06% y/y in first quarter 2023 compared ...
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    Linamar’s Q2 2022 net sales grows 26.11% y/y to USD1.53 billion
    Linamar has reported second quarter 2022 net sales at CAD1.98 billion (USD1.53 billion) with a year-on-year (y/y) increase of 26.11% compared to CAD1.57 billion in second quarter of 2021 for the three months ended 30 June 2022, according to a filing by the company on 10 August. Operating income for the quarter was reported at CAD143.8 million. Linda Hasenfratz, Linamar executive chair and CEO, said, “Q2 was a strong quarter thanks to markets improving in all our businesses, market share gro...
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    Tachi-S’ Q1 2022 net sales grows 1.4% y/y to USD364.91 million
    Tachi-S has reported first quarter 2022 net sales at JPY49.77 billion (USD364.91 million) with a year-on-year (y/y) increase of 1.4% compared to JPY49.08 billion from the previous year for the three months ended 30 June, according to a filing by the company on 10 August. Operating income for the quarter was down JPY2.34 billion. Net income for first quarter 2022 was down JPY2.95 billion. According to Tachi-S’s financial report, In Japan, net sales totaled JPY17.75 billion, down 0.7% fr...
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    Grammer’s H1 2022 revenue grows 6.4% y/y to USD1.08 billion
    Grammer has reported first half 2022 revenue at EUR1.03 billion (USD1.08 billion), up 6.4% year on year (y/y) compared with EUR972.49 million from the previous year for the six months ended 30 June, according to a filing by the company on 11 August. Operating income for first half 2022 was down EUR12.54 million. Net income for first half 2022 declined EUR25.53 million. Jurate Keblyte, CFO, Grammer AG, said, "As already announced at the end of June, business development in ...
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    Autoneum’s H1 2022 revenue down 0.17% y/y to USD930.77 million
    Autoneum has reported first half 2022 revenue at CHF888.7 million (USD930.77 million), down 0.17% year on year (y/y) compared with CHF890.3 million in the equivalent period of the previous year for the six months ended 30 June, according to a filing by the company on 27 July. Net income for first half 2022 was reported at CHF20.2 million.    Significance: Autoneum said in the first half of 2022, geopolitical developments had a significant impact on company p...
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    Bridgestone reports 24.9% y/y rise in HY2022 revenue to USD13.97 billion
    Bridgestone has reported a 24.9% year-on-year (y/y) rise in sales for half year 2022, it said in a press release on 10 August. Sales came in at JPY1.89 trillion (USD13.97 billion) compared to JPY1.51 trillion last year. Net profit was JPY117.60 billion for the same period, compared to JPY131.34 billion a year earlier. The company’s operating profit fell to JPY173.99 billion from JPY176.55 billion during the first half of last year. Significance: Goodyear said its global tire sales was signi...
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    Sirius XM’s Q2 FY2022 revenue grows 4.4% y/y to USD2.25 billion
    SiriusXM has reported a 4.4% year-on-year (y/y) rise in revenue for the second quarter of fiscal 2022, according to its press release on 28 July. Net income for the period dropped to USD292 million compared to USD433 million last year. Operating income for the quarter decreased to USD496 million compared to USD658 million for the previous corresponding quarter. “We are pleased with our results in the second quarter, and while we continue to navigate an uncertain economic environment, we del...
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    Continental’s Q2 2022 sales grows 13% y/y to USD9.62 billion
    Continental posted a 13% year-on-year (y/y) increase in second quarter revenue to EUR9.44 billion (USD9.62 billion), according to a press filing on 9 August. Net loss was EUR250.7 million compared to a profit of EUR545.3 million a year earlier. Research and Development expenses for the quarter was EUR738.5 million compared to EUR706.1 million last year. “The current headwind is rather like a hurricane and will not subside any time soon. Given this environment, we have performed well and bec...
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    Cerence’s Q3 FY 2022 revenue falls 8% y/y to USD89 million
    Cerence has reported an 8% year-on-year (y/y) fall in third-quarter revenue at USD89 million, the company said in a press release on 9 August. Net loss for the period came in at USD99.3 million compared with an income of USD5.8 million in the year-ago period. Net income was significantly impacted by a provision for income taxes. Gross margin was 72.8% versus 75.4% in 2021. “Notwithstanding external headwinds, we are invigorated for the future and confident in our direction. In that vein, in...
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    SABIC’s Q2 2022 revenue grows 32% y/y to USD14.90 billion
    Saudi Basic Industries Corporation (SABIC) has reported second quarter 2022 revenue at SAR55.98 billion (USD14.90 billion) with a year-on-year (y/y) increase of 32% from the first quarter of 2021, according to a filing by the company on 9 August. Net income was reported at SAR7.93 billion for second quarter 2022 compared to SAR7.64 billion in the second quarter of 2021. Yousef Abdullah Al-Benyan, SABIC’s Vice Chairman and Chief Executive Officer, said, “The second quarter strong fina...
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