• Home
  • Kilas Global
  • Johnson Electric reports Business and Unaudited Financial Information for the Third Quarter of Financial Year 2021/22
Jumat, 14 Januari 2022 19:44:00

Johnson Electric reports Business and Unaudited Financial Information for the Third Quarter of Financial Year 2021/22

HONG KONG SAR - 13 January 2022 - This news release is made by Johnson Electric Holdings Limited ("Johnson Electric" or the "Company" and together with its subsidiaries, the "Group") for the business operations and selected unaudited financial information of the Group for the nine months and quarter ended 31 December 2021.

The Board of Directors (the "Board") of the Company considers the publication of quarterly sales performance updates to be consistent with international corporate disclosure best practice. The objective of this news release is to provide transparency and to ensure that investors and potential investors receive equal access to the same information at the same time.

The Group's sales for the nine months ended 31 December 2021 were US$2,521 million compared to US$2,242 million for the same period in 2020, an increase of 12%. Excluding currency movements and an acquisition, sales increased by 9% to US$2,448 million. Foreign exchange rate movements had a positive effect of US$61 million on the Group's sales during the period. This was mainly due to the stronger average exchange rates for the Chinese Renminbi, the Canadian Dollar and the Euro versus the US Dollar, comparing average exchange rates for the nine months ended 31 December 2021 to the same period last year.

The Group's sales for the quarter ended 31 December 2021 were US$847 million compared to US$912 million for the same quarter in 2020, a decrease of 7%. Excluding currency effects and an acquisition, sales for the quarter ended 31 December 2021 decreased by US$71 million or 8%.

The acquisition of E. Zimmermann GmbH ("Zimmermann"), a specialist automotive machining business based in Germany, on 31 May 2021 added US$12 million to sales for the nine months ended 31 December 2021 and US$5 million to sales for the quarter ended 31 December 2021.

Sales of Automotive Products Group ("APG")

APG's sales for the nine months ended 31 December 2021 were US$1,923 million, an increase of US$196 million or 11% compared to the same period in 2020. Excluding the acquisition of Zimmermann and currency effects, APG's sales increased by US$127 million or 7% for the nine months.

A significant part of this increase relates to the fact that in the period from late March to May 2020, much of Johnson Electric's and its customers' operations in Europe and the Americas were effectively shut down due to the COVID-19 pandemic. Although direct comparisons with the same period in the prior year are therefore somewhat difficult, APG's organic sales growth of 7% represented a substantial outperformance, when compared to the decrease in global auto industry production of approximately 3% during the nine months from April to December 2021. The automotive sector has been severely disrupted by several supply chain bottlenecks over the period under review. Semiconductor and raw material shortages have caused major automotive OEMs to make frequent changes to production schedules, suspend production of selected vehicle models and temporarily close some of their factories entirely.

APG's outperformance reflects the increasing demand for the electrification of critical automotive functions to support the growing number of battery-electric and hybrid vehicles, as well as the imperatives to reduce vehicle weight and to improve safety, reliability and comfort. Sales increased across most of APG's product segments, with significant increases experienced in:

Closures, including sunroof, window-lift, power lift-gate, door-lock and other power closure systems

Thermal management, including electric water pump, cooling fan module, HVAC components, integrated thermal management and other electrified components for thermal management

Powder metal parts, especially parts for fuel cell applications

Power steering

Braking

APG's sales for the quarter ended 31 December 2021 decreased by US$78 million or 11% compared to the same quarter in 2020. Excluding the acquisition of Zimmermann and currency effects, APG's sales decreased by US$86 million or 12% in the quarter. In comparison, global auto industry production volumes decreased by approximately 17% over the same period. The industry's production and sales activities in the quarter continued to be hampered by the supply chain bottlenecks mentioned previously. It should also be noted that APG's sales in the same quarter in the prior year rebounded to remarkably high levels following the resumption of OEM customer production in Europe and the Americas after earlier COVID-19 related shut-downs.

When looked at on a regional basis, APG's sales fared better than automotive industry production volumes in all regions in the nine months as well as the quarter ended 31 December 2021. The sales changes for APG by region, excluding currency effects and the acquisition of Zimmermann, were as follows:

Share
Komentar
Copyright © 2012 - 2022 riauone.com | Berita Nusantara Terkini. All Rights Reserved.