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Parts multinationals under pressure in 2021

Categories: Company News

Categories: Industry dynamics

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Time of issue:2022-04-01 13:24

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1.Bosch Group: Sales of 78.8 billion euros, up 10% YoY; Profit of 3.2 billion euros, up 50% YoY. The Bosch Group expects sales to continue to grow in 2022 and profits to be at least the same as in 2021. The company's goal remains to outperform and achieve strong growth in key business areas and regional markets.

2.BorgWarner: Revenue of US $14.83 billion, up 12% year-on-year; Profit of US $15.31, up 54.6 percent year-on-year; Profit rate was 10.3 percent. BorgWarner plans to increase the proportion of electric vehicles to 45% by 2030 from the current 3%. In June 2021, BorgWarner completed its offer to acquire Akasol, a German manufacturer of lithium-ion battery systems, holding 89% of its outstanding shares; in August, it invested in CelLink companies to further expand the electrification sector. In February, BorgWarner announced the acquisition of the motor business of Tianjin Songzheng Electric Technology Company for US $0.22 billion, aiming to electrify its product portfolio through mergers and acquisitions. BorgWarner said that it will use innovative solutions to help car companies create future-oriented mobile travel.

3.ZF: Sales of 38.3 billion euros, up 17.5% YoY; profit of 1.9 billion euros, margin of 5%. It is worth noting that ZF's sales in the Asia-Pacific market in 2021 achieved a strong growth of 14% year-on-year. In China, in addition to winning customer orders from a number of mainstream traditional car companies, ZF has also signed a number of contracts with new car makers. In 2022, ZF expects revenue to exceed 40 billion euros, profit margins of 4.5-5.5 percent and cash flow of 10-1.5 billion euros.

4.Faurecia: Sales of € 15.6 billion, up 8.8 per cent YoY; profit of € 0.862 billion, up 106 per cent YoY; margin of 5.5 per cent. In February this year, Faurecia and Hella announced the merger, named FORVIA, becoming the seventh largest auto parts supplier in the world. Faurecia forecasts sales of 175-18 billion euros in 2022; profit margin of 6%-7%; cash flow of 0.5 billion euros.

5.Valeo: Sales of € 17.3 billion, up 5% YoY. Among them, powertrain system sales of 4.651 billion euros, comfort and driver assistance system sales of 3.417 billion euros, thermal management system sales of 3.926 billion euros, an increase of 6% year-on-year; vision system sales of 5.094 billion euros, an increase of 1% year-on-year.

6.Magna: Revenue of US $36.2 billion, up 11% year-on-year; Net profit of US $1.5 billion, up 23% year-on-year. In January, Magna acquired the technology, intellectual property and assets of Optims Ride, a Boston-based self-driving vehicle and mobility solutions startup. Recently, Huayu Magna Electric Drive Systems Co., Ltd. (HME) has begun to provide Volkswagen ID. 4 Electric models produced the first two-stage electric drive system. Magna's 2022 revenue is expected to be $388-$40.4 billion, with a net profit of $17-$1.9 billion.

7.Schaeffler: Sales of 13.9 billion euros, up 9.7 percent year-on-year; cash flow of 0.523 billion euros, unchanged from the previous year. In 2021, Schaeffler Group's Automotive Technology Division will have a new order of 10.2 billion euros, of which 3.2 billion euros will come from the electric drive business, far exceeding the expected target of 1.5 billion -2 billion euros.