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Follow on Google News | Preh and Joyson Automotive Show Dynamic Growth in Every MarketIn its first joint fiscal year, Preh and Joyson Automotive post record gains.
By: Preh, Inc. After Preh’s incorporation into the exchange-listed Ningbo Joyson Electronics, the entire Joyson Group has demonstrated dynamic growth. As the largest business area within the Joyson Electronics Group, the Preh Automotive Electronics unit shows a revenue increase in 2012 of 12% to €462 million, compared to €412 million in 2011. This growth resulted from positive business performance in all three relevant markets in Europe, North America and China. Preh’s income thus continues upward: operating earnings before interest and taxes (EBIT) rose from €27.8 million to €29.8 million, a 7.2% increase compared to the previous year. The number of employees at Preh rose by 14% to 3,210 employees by the end of 2012 (2011: 2,820). Preh’s headquarters in Germany also benefited from the positive development in 2012, as over 100 new jobs were created at Bad Neustadt, with the number of employees increasing 8.8% to around 1,350. The entire Joyson Group in 2012 achieved revenues of 5.4 billion RMB, which is equivalent to about €680 million, with 6,000 employees. In 2013, the start of the fiscal year has also been gratifying: in the first quarter, Preh revenues increased 13% over the same period last year. Also, operating earnings of the supplier have further improved. After presenting the company’s balance sheet, Dr. Michael Roesnick, president and CEO of Preh GmbH, said, "Together with our Chinese partner Joyson, as an automotive supplier group, we are entering an entirely new dimension. We have combined the strong market positioning of Preh in Europe and North America with a very good entry into the Chinese market with Joyson, and created a worldwide dynamic growing technology company. “Our strategy is fully developed: on the one hand we support each other to develop new market potential; on the other, we have retained the necessary independence at Preh to best serve our long-standing customer relationships. In other words, Preh remains Preh, despite the increased internationalization." End
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