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UNIWHEELS AG H1 2015 financial results with significant growth
  • 3.9 million wheels sold (+11.3% yoy) – new record in Company’s history
  • Double-digit increase of revenues yoy to EUR 217 million and EBITDA to almost EUR 28 million
  • Construction works of a new plant started in Stalowa Wola

Bad Dürkheim, 13th August 2015:: Germany-based alloy wheels manufacturer UNIWHEELS AG, who recently successfully conducted its initial public offering and debuted on the Warsaw Stock Exchange presented its financial results for the first half of 2015.

In the period of January-June 2015 UNIWHEELS Group sold 3.9 million wheels in both segments: OEM and Accessory (in total an increase of 11.3% over the first half of 2014). In the second quarter 2015, 2 million wheels were sold (increase of 14% year on year). 3.9 million wheels sold in the first half of the year and 2 million wheels sold in one single quarter are both Company’s new record volumes.

During the first half of 2015 UNIWHEELS generated EUR 217 million in revenues, an increase of 26.8% compared to H1 2014. EBITDA increased to EUR 27.9 million (+30.2%) and net profit rose by 67% to EUR 19.3 million. H1 net profit includes non-recurring income from currency derivative valuation amounting EUR 2.1 million.

“Year 2015 will be influenced by increasing wheel demand from European car manufacturers, we are operating at maximum capacity and driven by an increased aluminum price influencing revenues and material costs”– says Ralf Schmid, UNIWHEELS AG CEO. “For the Fiscal Year 2015, we expect a sales increase with an upper single digit growth. Revenue will further be influenced by a higher-value product mix and aluminum price adjustments leading to an expected growth of 15% to 20%” – he adds.

“Overall, we are very satisfied with market situation and our Group’s performance in the first half of 2015. For the whole year we expect an EBITDA growth in line with sales development. Stringent cost management will show its effects”– adds Dr. Karsten Obenaus, UNIWHEELS AG CFO.

UNIWHEELS AG recently successfully conducted an initial public offering and debuted on the Warsaw Stock Exchange. From the issue of new shares, the Company received the amount of approx. EUR 62.7 million gross. Proceeds from the offering are used to finance the construction of a new production plant in Stalowa Wola, Poland, which will allow to increase the Group’s production capacity by approx. 2 million wheels (to almost 10 million in total) by 2018. Construction works in Stalowa Wola has started in July. After the completion of the new plant in Stalowa Wola, the already world's largest contiguous production site for light-alloy wheels will consist of three adjacent factories with a capacity of up to approx. 9 million wheels annually.

Key financial figures of UNIWHEELS Group for 1H 2015*:

(in € thousand unless otherwise stated) 1H 2015 1H 2014 +/-
Revenue 217,037 171,160 +26.8 %
Sales volume (thousand pieces) 3,884 3,490 +11.3 %
EBITDA 27,.865 21,407 +30.2 %
EBITDA margin (% to sales) 12.8 % 12.5 % +0.3 PP
EBIT 20,543 14,273 +43.9 %
EBIT margin (% to sales) 9.5 % 8.3 % +1.2 PP
Net profit 19,.340 11,.586 +66.9 %
Capital expenditures and investments 12,774 4,400 +180.7 %
Equity ratio* 57.,4 % 31.7 % +25.7 PP
Net debt* 15,830 90,090 -82.4 %
Personnel (# persons) 2,524 2,366 +6.7 %

*Financial position significantly improved as an effect of successful IPO, capital increase and shareholder loan conversion into equity

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UNIWHEELS AG – Construction of new plant in Stalowa Wola has been started

Bad Duerkheim, July 21 2015: UNIWHEELS AG, one of the leading manufacturers of aluminum wheels for cars in Europe, has started its new plant construction in Stalowa Wola/Poland, which will increase the capacity of Polish factories by approx. 2 million wheels annually. The new factory in Poland will be UNIWHEELS’ fourth plant – the Group currently has three production plants, two in Stalowa Wola and one in Germany.

After the completion of the new plant in Stalowa Wola, the already world's largest contiguous production site for light-alloy wheels will consist of three adjacent factories with a capacity of up to approx. 9 million wheels annually.

“We have decided to expand our European operations by building the new production plant in Poland, in response to positive market conditions and consistently increasing demand from our customers – mainly the premium car producers” – says Ralf Schmid, UNIWHEELS AG CEO. “The expansion project in Stalowa Wola is fully on track as scheduled and the construction of the buildings have already begun” – he adds.

Excavation works and water drainage have been completed so far and now first supporting pillars for the new buildings are being set on site. Completion of the construction works and topping-out ceremony is planned for September.

UNIWHEELS Group is the largest employer in Stalowa Wola. As at the end of 2014 it employed over 1800 people in two factories – the number of employees increased by over 15% compared to 2013. Polish employees constitute approx. 78% of UNIWHEELS Group staff. The new plant will generate at least 250 additional jobs in Stalowa Wola region.

Total CAPEX for the new Stalowa Wola plant is estimated at approx. 87 mln EUR. Investment is financed with proceeds from the IPO conducted in Warsaw end of April and also own funds and credit lines.

 

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UNIWHEELS AG expands its Executive Board – Dr. Thomas Buchholz appointed Chief Automotive Officer and deputy chairman

Bad Duerkheim, June 18, 2015: At its meeting on June 15, 2015, UNIWHEELS AG made the decision to appoint Dr. Thomas Buchholz as an additional member and deputy chairman of the Executive Board as of August 10, 2015. As Chief Automotive Officer (CAO) Dr. Buchholz, aged 57, will take over the management of the Automotive Division. Other members of the Executive Board are Ralf Schmid (CEO and chairman) as well as Dr. Karsten Obenaus (CFO).

Dr. Buchholz has many years of international management experience in the automotive industry. In his last position, he served as Chairman of the Board at the automotive supplier SHW AG (Aalen). Previously, he led TI Automotive (Heidelberg) GmbH for many years as managing director and held various management positions at the MAHLE group for 17 years, including in Brazil. Dr. Buchholz obtained his doctorate in Mechanical Engineering at the University of Karlsruhe and earned a Master’s degree from Yale University.

The Supervisory Board is delighted to have gained an experienced and expert Executive Board member for the company. The Supervisory Board is convinced that, with his many years of experience in the automotive supply business, he will promote the internationalization, further growth and increased profitability of UNIWHEELS AG. In particular, Dr. Buchholz will be focusing on consistently expanding the various lightweight construction technologies for reducing the weight of high-quality aluminum wheels as well as increasing sales volumes for customers in the premium vehicles segment.

 

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UNIWHEELS AG Q1 2015 financial results with significant growth after successful listing debut
  • Very strong start into 2015 – 1.9 million wheels sold (+8.4%) despite capacity constraints
  • Record sales to OEM in March 2015
  • Double-digit increase of revenues to EUR 104.8 million (+22.3%)
  • Significant improvement of earnings: EBITDA amounted to EUR 13.2 mln (+31.2%)
  • Successful IPO – EUR 62.7 million proceeds for investment in the new production plant in Stalowa Wola
  • Outlook FY 2015: revenues with single-digit growth and EBITDA margin at least at previous year´s level

Bad Dürkheim, 13th May 2015: Germany-based alloy wheels manufacturer UNIWHEELS AG, who recently successfully conducted its initial public offering and debuted on Warsaw Stock Exchange presented its financial results for the first quarter of 2015.

In the period of January-March 2015 UNIWHEELS Group sold 1.9 million wheels in both segments: OEM and Accessory (in total an increase of 8.4% over the previous year). Only in March 2015 the Company sold 577.333 wheels to its OEM customers, which is a new sales record of sales to car manufacturers in one single month.

During the first quarter 2015 UNIWHEELS generated EUR 104.8 million of revenues, an increase of 18.3% compared to Q1 2014. Thanks to stable material and personnel costs EBITDA increased to EUR 13.2 million (+31.3%) and net profit rose by 209% to EUR 13.4 million. Net profit includes non-recurring income from currency derivative valuation amounting EUR 4.8 m.

“We are very satisfied with market situation and our Group’s performance in the first quarter of 2015. Despite capacity constraints, we achieved record sales volume to OEM business in March. This is a clear signal of good market condition, as well as our strong position as technology and development partner of European premium car manufacturers. Basing on our performance in 2014 and Q1 2015, we assume that positive business development will continue in 2015. For the Fiscal Year 2015, we expect a sales and revenue increase within a single-digit percentage range. In consequence of our stringent cost management, EBITDA margin should be at least at FY 2014 level.” – says Ralf Schmid, UNIWHEELS AG CEO. UNIWHEELS AG recently successfully conducted an initial public offering and debuted on Warsaw Stock Exchange. From the issue of new shares, the Company received the amount of approx. EUR 62.7 mln gross. Proceeds from the offering will be used to finance the construction of a new production plant in Stalowa Wola, Poland, which will allow to increase the Group’s production capacity by approx. 2 mln wheels (to almost 10 mln in total) by 2018.

“Achieved sales volume in 2014 and in the first quarter of 2015 also confirm a need for capacity increase, therefore the upcoming implementation of the new capacity expansion in Stalowa Wola will allow us to improve our market position in the coming years” – says Ralf Schmid. “Once again we would like to thank all the investors, who decided to invest in UNIWHEELS AG shares during the IPO and took part in our success. Our offer met with a very high interest from investors. At the issue price of PLN 105 we had a substantial oversubscription and what is important - the price was fully in line with our internal expectations. Gained proceeds of EUR 62.7 million will allow us to continue with investment in line with the schedule” – says Ralf Schmid.

“We wanted to have diversified shareholding structure. Therefore we have decided to make a balanced allotment of our shares between Polish pension funds (OFE), polish investment funds (TFI), international institutions and private Polish investors, and we have reached that target – adds Dr. Karsten Obenaus, UNIWHEELS AG CFO.

“On May 8th a historic milestone in UNIWHEELS Group history was reached. I am convinced that UNIWHEELS AG is ready to be a public company, which means full professionalization and
readiness for further growth” – concludes Mr. Schmid.

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UNIWHEELS becomes official sponsor of the „VLN Nürburgring 2015”

Bad Dürkheim, 27. März 2015: German-based alloy wheels manufacturer UNIWHEELS becomes official sponsor of the „VLN Endurance Championship Nürburgring”.

The UNIWHEELS Group is one of the leading manufacturers of alloy wheels for the Europeanaftermarket (with brands ATS, RIAL, ALUTEC and ANZIO) and one of the world´s largest wheel suppliers to the automotive industry. The group has 3 major production plants, two of them based in Poland (in Stalowa Wola) and one in Germany (in Werdohl).

From this season on the UNIWHEELS logo will replace the former’s group ATS logo on the front fenders of the cars racing in the VLN Endurance Championship Nürburgring. Season begins on March 28th and consists of 10 race series.

UNIWHEELS’ brands RIAL and ATS were the series sponsors in the past (season 2007 until 2008 and season 2009 until 2014).

“The decision to execute the sponsorship with our group brand UNIWHEELS is part of our new marketing strategy. We would like to make UNIWHEELS more recognizable as a brand in connection with the Automotive business (OEM). Our brands ATS, RIAL, ALUTEC and ANZIO are already very well-known to the customers in the accessories market around the world while little of our clients are aware of the fact, that at the same time, UNIWHEELS is a leading supplier to the big car manufacturers such as Audi, BMW/Mini, Jaguar/LandRover, Mercedes/AMG, Peugeot/Citroen and many others. We are proud to continue the partnership with the VLN Endurance Championship in 2015” says Tobias Eisele, Head of Marketing of the UNIWHEELS Group.

The VLN Endurance Championship has been held at the Nürburgring Nordschleife - which is often called the „Green Hell“ - for 38 years. The Nürburgring Nordschleife is the world`s most demanding racing track and is therefore used by all major car manufactures for testing and doing the setup of new cars. The championship is a very popular and successful racing series
in Europe. In 2014 there were an average of 180 vehicles in 25 different categories and about 800 drivers attending each event and an average of 20,000 to 30,000 spectators. Admission for visitors at the Nordschleife is free.

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In 2014 UNIWHEELS continued to improve its financial results

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In 2014 UNIWHEELS continued to improve its financial results

Bad Dürkheim, 24th March 2015: Germany-based alloy wheels manufacturer UNIWHEELS presented its financial results for the financial year 2014. In 2014 UNIWHEELS Group sold 7.2 million wheels (an increase of 5.8% over the previous year). The sales of wheels increased substantially both in the automotive industry segment, with supply of alloy wheels to the premium European automotive manufacturers, and in the accessory market segment with sales of wheels under own brands to worldwide dealers.

In 2014, the Group delivered approx. 5.8 million wheels to the OEM (Original Equipment Manufacturer) customers – renowned car manufacturers like Audi, BMW/MINI, Mercedes/AMG, Jaguar/Land Rover, PSA, Volvo and others and approx. 1.4 million of wheels to the aftermarket customers under the well-known own brands ATS, RIAL, ALUTEC and ANZIO.

UNIWHEELS generated EUR 362.6 million of revenues, an increase of 7.5% compared to 2013. The Group improved profits and all relevant margins in 2014. EBITDA increased to EUR 46.8 million (+22% compared to 2013), EBIT reached EUR 32.6 million (an increase of 8%) and net profit grew to EUR 22.8 million (+73% compared to 2013). EBITDA margin in 2014 improved by 1.3 percentage points to 12.6%, and EBIT margin improved by 1.8 percentage points to 8.8% compared to 2013.

"We are very satisfied with the 2014 sales and financial results. The Group’s performance in the last three years shows a constant increase of wheels sold - in 2012 it was 6.4 million, in 2013 6.9 million and in 2014 it increased to 7.2 million wheels. Thus, we have continuously improved our strong position in the automotive market as a long standing technology and development partner of all major European premium car manufacturers". – says Ralf Schmid, UNIWHEELS AG CEO. "Positive trends in our sales continued in first months of 2015 – in January and February we sold 1.22 million wheels already, a 7.0% increase in sales compared to first two months of 2014 and we also feel comfortable with our current filled order pipeline for 2015" – he adds.


Key financial figures of UNIWHEELS Group:

(in € million unless otherwise stated, audited) 2014 2013 +/-
Revenue 362,6 337,2 +7,5%
Sales volume (million pieces) 7,2 6,9 +5.2%
Gross profit 146,7 128,3 +14%
EBITDA 46,8 38,3 +22%
EBITDA margin (% to sales) 12,6% 11,3% +1,3PP
EBIT 32,6 23,6 +38%
EBIT margin (% to sales) 8,8% 7,0% +1,8PP
Group consolidated profit (-loss) 22,8 13,2 +73%
Cash Flow from operating activities 23,8 19,6 +21%
Capital expenditures and investments 13,7 7,1 +93%
Return on equity 27,3% 15,5%  
Net debt/EBITDA 1,9x 2,1x  
Personnel (# persons) 2.366 2.141 +10%

The audited consolidated financial statements have been prepared in accordance with International Financial Reporting Standards as adopted by the European Union ("IFRS")

"Increase of key margins indicates significant improvement in profitability of UNIWHEELS Group." – says Dr. Karsten Obenaus, UNIWHEELS AG CFO. "Gross profit improved due to quality and efficiency increase in the production process as well as a better product mix. With stringent cost management, we also achieved significant improvements on the cost side, which are reflected in EBITDA and net income increase. It is worth mentioning that EBITDA has doubled over the two years period – from EUR 23 million in 2012 to EUR 46.8 million last year. Also in 2014 we reported the highest level of net profit in the Group’s history amounting to EUR 22.8 million" – stresses Dr. Obenaus.

"Thanks to sound financial management, the Net Debt-to-EBITDA improved to the factor of 1.9x in 2014, confirming the solid financial position of the company. Based on these factors, we plan further growth and are optimistic about the Group's development in the current financial year"– adds Dr. Obenaus.

In 2014, the company increased investments as initially planned. Capital expenditures and investments almost doubled in comparison to 2013 and amounted to EUR 13.7 million. The main part of this expenditure involved development and productivity improvement measures in the production area in Polish and German factories. As the investment process continues, UNIWHEELS AG recently announced its plans of further raising production in Poland by building a third factory there. This will expectedly from mid- 2016 gradually increase the capacity of the Polish factories by up to 2 million wheels. The availability of the full capacity is expected in 2018.

"We expect further growth and a positive development in 2015. The high levels of sales achieved in 2014 and in the first months of this year are the confirmation of our strong position in the European automotive market. Based on the forecasts for the light vehicle production for the years 2014-2018 and the estimated growth of the market volume for OEM wheels, we expect to be able to further increase our output of wheels in 2015 compared to 2014. This is another reason why the upcoming implementation of the new capacity expansion in Stalowa Wola is a strong basis for the planned growth of the UNIWHEELS Group" – says Ralf Schmid.

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Very good start of 2015 production at UNIWHEELS factories

Very good start of 2015 production at UNIWHEELS factories in Poland
and Germany

Bad Dürkheim, March 12th, 2015 Germany-based alloy wheels manufacturer UNIWHEELS recorded a very good start in January and February with its Automotive and Accessory businesses. UNIWHEELS exceeded previous year sales in January and February by 7% and sold 1.22 million wheels.

The UNIWHEELS Group is one of Europe's largest OEM wheel suppliers to the automotive industry and the leading European manufacturer of aftermarket alloy wheels (well-known brands ATS, RIAL, ALUTEC and ANZIO). Currently, the Group has three production plants, two of them based in in Poland (Stalowa Wola), and one in Germany (Werdohl).

“Sales increases recorded in the first two months of 2015 are also the confirmation of our constant improvement in the European automotive market. We are excited about the excellent order entry development which anticipates further increasing customer demand for the upcoming years. This is another reason why the company looks forward to the implementation of the new capacity expansion in Stalowa Wola with high expectations.”- says Ralf Schmid, UNIWHEELS AG CEO.

UNIWHEELS AG recently announced its plans of expanding its production in Poland by building a third plant there, which allows increasing capacities of the Polish factories by approx. 2 million wheels by the end of 2017.

UNIWHEELS Group will publish audited consolidated financial statement for financial year 2014 on March 24, 2015.

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UNIWHEELS – expands production in Poland
Wheels manufacturer UNIWHEELS continues to grow

Räderhersteller UNIWHEELS wächst weiter

 

Neuer Absatzrekord im Jahr 2014 erreicht

 

Bad Dürkheim, 19. Januar 2015: Die UNIWHEELS AG konnte auch im vergangenen
Jahr den Absatz an Leichtmetallrädern weiter steigern. Nach vorläufigen Zahlen stieg
die Absatzleistung in 2014 um 5,2 Prozent gegenüber dem Vorjahr auf über 7,2 Mio.
Räder. Dabei wuchs der Räderabsatz sowohl im Bereich Automotive, mit nunmehr
neuen Rekordzahlen bei der Zulieferung von hochwertigen Leichtmetallrädern an die
europäischen Automobilhersteller, als auch im Accessory-Markt, mit der Belieferung
des weltweiten Zubehörhandels mit Rädern der bekannten Eigenmarken ATS, Rial,
Alutec und Anzio.


UNIWHEELS Vorstandsvorsitzender Ralf Schmid: "Wir sind stolz darauf, dass unsere
Firmengruppe auch in 2014 wieder ein so ausgezeichnetes Absatzergebnis erzielt hat.
Unsere bereits zuvor gute Vertriebsposition im anspruchsvollen Markt für
Leichtmetallräder hat sich damit nochmals verbessert. Ebenso wurde die bisher bereits
sehr breite Kundenbasis in der Automobilindustrie durch mehrere Neukunden weiter
verstärkt.“


Die UNIWHEELS AG geht auf Basis der gesteigerten Absatzzahlen – wie in dem im
Rahmen des Halbjahresberichts 2014 gegebenen Ausblick prognostiziert - für das
abgelaufene Geschäftsjahr von einem erneut guten Jahresergebnis aus. Ebenso wird
aufgrund der anhaltend hohen Kundennachfrage mit einem weiteren Absatzwachstum
im Geschäftsjahr 2015 gerechnet.

 

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UNIWHEELS receives the QTE Award 2014

UNIWHEELS mit dem Quality Through Excellence Award 2014 der Volvo Car Group ausgezeichnet

 

Volle Punktzahl in allen 12 Bewertungskriterien erreicht

Bad Dürkheim, 16. Januar 2015: UNIWHEELS Deutschland ist mit dem Volvo Quality
Through Excellence Award (“VQE Award”) 2014 ausgezeichnet worden. Die
Preisverleihung fand Ende 2014 in Schweden statt. UNIWHEELS hat diesen
angesehenen Preis erlangt, indem es die maximale Punktzahl in allen relevanten
Bewertungskriterien erzielt hat.


Die entsprechenden Bewertungskriterien für die Vergabe des Preises waren unter
anderem: Logistik, Vertrauen, Einblick in das Werksgeschehen, Beurteilung der
Produktionsstätte und schlanker Ressourceneinsatz. In seinem Mitteilungsschreiben
der Preisvergabe an UNIWHEELS erklärte Herr Jonny Samuelsson, Leiter Einkauf bei
Volvo Car Corporation: "Herzlichen Glückwunsch an die Deutsche UNIWHEELS
Produktionsstätte, deren Mitarbeiter unermüdlich daran gearbeitet haben, den VQE
Status zu erhalten. Und ich bin froh, verkünden zu können, dass das UNIWHEELS
Werk in Polen zu einem ähnlichen Preis im Januar 2015 nominiert wurde". Herr
Samuelsson fügte hinzu, dass "Volvo von allen Lieferanten erwartet, dieses
Kompetenzniveau zu erreichen und vor allem diesen Status beizubehalten".


Das Deutsche UNIWHEELS Werk in Werdohl liefert High-End Leichtmetallräder für die
Premium-Modelle von Volvo Car XC60, XC70, XC90.


“Wir sind sehr stolz darauf, von Volvo Cars als einer der Topzulieferer insgesamt
angesehen zu werden und diese wichtige Auszeichnung zu erhalten.“, sagte Ralf
Schmid, Vorstandsvorsitzender von UNIWHEELS. „Für UNIWHEELS und seine
Mitarbeiter ist sie ein erneuter Beweis dafür, dass wir Volvo und allen anderen
Premiumkunden die höchsten Qualitäts- und Sicherheitsstandards bieten, denn in der
Gruppe ist es weiterhin das vorrangige Ziel, stets die Erwartungen unserer Kunden zu
übertreffen.“

 

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