Home / News / Freudenberg Group sales up 6.3% in 2014

Freudenberg Group sales up 6.3% in 2014

02 Jun '15

2 min read

Germany based Freudenberg Group reported sales of €7,039.1 million in 2014 as against €6,662.5 million in 2013, representing a growth of €416.6 million or 6.3 per cent.

Adjusted for effects of acquisitions and disinvestments to the amount of €131.0 million and exchange rate effects, 2014 sales were 5.6 per cent or €368.0 million higher than its previous year.

“Consolidated profit in 2014 grew higher at €478.3 million compared to €401.5 million in 2013, mainly as a result of market success and innovative products,” a Freudenberg press release informed.

The financial data are based on the pro-rata consolidation method, which also includes activities of the 50:50 joint ventures, which Freudenberg continues to use for managing its operating activities.

“Under IFRS financial reporting standards, 50:50 joint ventures are consolidated by the equity method, which means sales and employee figures are not taken into consideration,” it explained.

In the Greater China region, Freudenberg generated overall sales of Yuan 6 billion in 2014, up 10 per cent over 2013.

"China, now represents 10 per cent of the Group's global sales and is already the third largest region for Freudenberg after Europe and North America," Hanno Wentzler, regional representative (Asia) said.

“China's contribution to the Freudenberg Group's overall success is of growing importance, so we will continue to invest in this region," he added.

In 2014, the Group made local investments totaling to Yuan 245 million, while over the last ten years, Freudenberg has invested more than Yuan 2.5 billion or €300 million in China.

Significant projects include the Qingpu site expansion with state-of-the-art research and development facilities, a training center and administration building for Freudenberg Chemical Specialties.

Another is the Trelleborg Vibracoustic joint venture investment in the Yantai site on buildings and machinery and an extended production facility of additional 8,000 square meters.

Overall, Freudenberg expects a successful year in 2015, with sales growth outpacing the market and is expecting to generate double-digit growth in China.

As at December 31, 2014, the Freudenberg Group employed 40,456 people as against 39,897 people at the end of 2013.

The Freudenberg Group is a family company offering its customers technically challenging product solutions and services.

The Group develops and manufactures seals, vibration control components, filters, nonwovens, products for surface treatment, release agents and specialty lubricants, medical and mechatronic products. (AR)

Fibre2fashion News Desk - India