Bo Annvik, President and CEO for Haldex: “For the past two years we have been working on creating a stable platform where improved operational excellence and profit margins has been our main focus. We are now ready to move into a phase with profitable growth. With an intensely focused company our ambition is to grow faster than the market while at the same time continue to improve our margins. We are building a sustainable business that is good for shareholders, customers and employees.”
The strategy will be focused even further. Haldex will offer a world-class, focused product range for OEM customers. Products within the portfolio should have market leading potential with features standing out among the competition. The OEM sales will continue to serve as a volume engine where an increased installed base of Haldex products on trucks, busses and trailers results in a great potential for aftermarket sales of service and spare parts.
For the aftermarket, the product offering, service level, pricing and channel distribution will be adapted over the vehicles lifecycle, with the ambition to offer support during the vehicle’s main lifetime.
Products within the Foundation brake product family will continue to serve as the base complemented with selected product investments in the Air Controls product family.
Maintain the leading market position for brake adjusters
Extend the leading position on actuators
Grow disc brakes to become a market leader
Maintain current product lines with selected product rationalizations
New product development where relevant market position is within reach
In addition, Haldex will use its size to its advantage with customer focus and operational excellence as key areas to excel within.
For the past quarters, Haldex has reached three out of four financial objectives. The operating margin has exceeded the 7% target, the net debt/equity ratio has been less than 1 and more than a third of the profit has been paid out in dividend. The target not reached is the growth target of 7% where Haldex has grown in line with the market.
The objectives are updated and also extended to include non-financial objectives:
Organically grow faster than the market (weighted segment volume)
Sustainable operating margin of 10% or above
Net debt/equity less than 1
1/3 of the yearly net income over a business cycle in dividend
People & Environment
Safe Haldex – vision zero
Ethical Haldex – vision zero
Green Haldex – global mapping on-going to define objective
Capital market day
Haldex is arranging its capital market day today with a factory tour in Landskrona, followed by a strategic update and further presentations in Malmö.
The presentations, including a video recording will be published on the Haldex website during the day. www.haldex.com/presentations
For further information, please contact:
Bo Annvik, President & CEO, +46 418 476000
Andreas Ekberg, CFO, firstname.lastname@example.org or +46 418 476150
Catharina Paulcén, SVP Corporate Communications, email@example.com or +46 418 476157
Haldex AB (publ) is required to publish the above information under the Swedish Financial Instruments Trading Act. The information was submitted for publication on October 2, 2014 at 7.30 am CEST.
Haldex (www.haldex.com), headquartered in Landskrona, Sweden, is a provider of proprietary and innovative solutions to the global commercial vehicle industry, with focus on products in vehicles that enhance safety, environment and vehicle dynamics. Haldex is listed on the Nasdaq OMX Stockholm Stock Exchange and had net sales of approx 3.9 billion SEK in 2013. The number of employees amounts to about 2,200.