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American Axle & Manufacturing Q2 revenue climbed by 8.1%; net profit soared 4.5 times

Number of visits: Date:2013-09-07

News from auto.gasgoo.com: American Axle & Manufacturing announced that the company's operating income and net profit in the second quarter of this year showed steady growth, thanks to the strong recovery of the US light truck market.
In the second quarter of this year, American Axle & Manufacturing’s operating income reached 799 million US dollars, an increase of 8.1% compared with 740 million US dollars last year, of which revenues generated by the non-generic business are more obvious, up to 224 million US dollars, an increase of 12.9%, whose proportion in the operating income rose to 28% from 26.8% in the same period last year.
President and CEO of American Axle & Manufacturing David C. Dauch said that thanks to a strong recovery in the North American light truck market and the company’s a series of new products for its customers, American Axle & Manufacturing achieved solid growth in their performance in the last quarter. Due to these factors as well as their continuous improvement in operational efficiency, it is expected that their growth will continue in the second half of the year.
American Axle & Manufacturing realized a 104% surge in operating profit for the last quarter to $ 61.7 million, while the operating margin surged to 4.1% from 7.7% of the same period last year. The company's quarterly net profit jumped to $ 25.8 million from $ 4.7 million of the same period last year, an increase of 449%.
The overall performance of the first half shows that American Axle & Manufacturing’s total revenue reached 1.56 billion US dollars, representing a 4.7% increase over the same period last year, of which the non-GM business generated revenue was 412 million US dollars, an increase of 5.1%.
As in the first quarter American Axle & Manufacturing suffered a sharp decline in profits, the company's total operating profits in the first half of the year is still lower than the same period last year, which is 1.06 billion US dollars, a year-on-year decrease of 1.2%, and the operating margin fell to 6.8% from 7.2% last year.

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