Your Location > Home > News & Market >International News > Nemak reports 16.4% YoY drop in revenue in 3Q19 on lower aluminium price; sales volume down 14%
Today' Focus
-
Hangzhou Jinjiang Group's general manager Zhang Jianyang, vice general manager Sun Jiabin and their team had attended the SECOND BELT AND ROAD FORUM FOR INTERNATIONAL COOPERATION, they also attended the signing ceremony of comprehensive strateg...
International News
Domestic News
International News
Nemak reports 16.4% YoY drop in revenue in 3Q19 on lower aluminium price; sales volume down 14%
- China Aluminium Network
- Post Time: 2019/10/23
- Click Amount: 402
Nemak, a leading provider of innovative light weighting solutions for the global automotive industry, published its operational and financial results for the third quarter of 2019. The company’s revenue was down 16.4% YoY to US$963 million in 3Q19, mainly due to lower shipments and aluminium prices.
Total sales volume decreased by 13.8% year-on-year to 10.6 million equivalent units during 3Q19. This was due to a less favourable product mix in North America and softer customer production in China.
Nemak manufactures aluminium components for powertrain and body structure applications. It generated revenue of US$4.7 billion in 2018.
EBITDA came in at US$139 million, a drop of 13.1% YoY. “This variation followed a lower volume, unfavourable exchange rate effects, and non-recurring expenses associated with a planned facility closure in North America; these factors were partially offset by the achievement of further operational efficiencies.”
“We finished the quarter in line with our expectations, leveraging efficiency initiatives to mitigate the negative effects of lower volume on our results. These efforts focused on driving optimization of our shop-floor operations across all regions. Notwithstanding increased volatility in most of the markets we serve, we remain on track to meet our 2019 Guidance, said Armando Tamez,” CEO of Nemak.
“Likewise, we made further inroads in the ramp-up of our structural and EV components business. We harnessed our technological capabilities—including design engineering, casting, and joining & assembly—to initiate series production of complex battery housings for plug-in hybrid electric applications in Europe.”
- Copyright and Exemption Declaration :①All articles, pictures and videos that are marked with "China Aluminum Network" on this website are copyright and belong to China
Aluminium Network (www.alu.com.cn). When transshipment, any media, website or individual must list the source from "China
Aluminium Network (www.alu.com.cn)". We seek legal actions against anyone that disobey this.
②Articles that marked as copy from others are for transferring more information to readers, do not represent or endorse their opinions or
accuracy and reliability. When other media, website or individuals copy from our website, must keep the source. Anyone that changes the
articles' sources will hold the responsibilities for copyright and law problems. We also seek legal actions against anyone that disobey
this.
③If any articles copied by our website concern the copyright and other problems, please contact us within one week.