Nexteer Automotive on a Roll in 2014
Published By : 16 Mar 2015 | Published By : QYRESEARCH
Nexteer Automotive enjoyed a bumper 2014, growing on all fronts and posting remarkable figures all round. The Saginaw-based automotive supplier, owned by Pacific Century Motors, released their figures for the fiscal year 2014-15 last week. The company experienced a growth of 25% in both revenue and gross profit last year, making it one of the best years in the booming company’s history. Nexteer’s global CEO and President Laurent Bresson attributed the massive growth to the company’s consistent commitment to constant innovation and strong technological base and tireless efforts of globalization, leading to an extremely competitive portfolio. He stated the company had struck upon a virtuous cycle of expanding company operations, which led to stronger consolidation of market position and further expansion of operations.
Guibin Zhao, Nexteer’s chairman and CEO, echoed Bresson in emphasizing upon the importance of Nexteer’s strong technological background in providing such strong results.
This drive to globalize has seen Nexteer open operations in the booming markets of India, China, and a large part of South America. The wide range of Nexteer’s clients also illustrate its reach, with Nexteer being a supplier to the Italian FIAT, the German BMW, the Japanese Toyota, the French PSA Peugeot Citroen, in addition to American giants GM, Ford, and Chrysler.
The jump in revenue saw Nexteer post totals of US$2,978.1 million dollars, up from the 2013 figure of US$2,386.8 million. Gross profit, which increased by close to 24%, jumped from US$339.4 million in 2013 to US$420 million in 2014. The profit for equity holders of Nexteer made an even bigger leap, growing by 47.8% from US$109.2 million in 2013 to US$161.4 million in 2014.
The bumper business in 2014 higher even than Nexteer’s own estimations, with new program launches linked with the main program of 2014 being attributed for the extra growth.