Earnings Release • Apr 11, 2018
Earnings Release
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[Stockholm, 11 April 2018] – Annualised series production reached 2.5 million Engine Equivalents in the first quarter of 2018, surpassing the previous quarterly record of 2.2 million Engine Equivalents. The first quarter production represents an increase of 19% compared to the full-year 2017 volume, and 25% compared to the first quarter of 2017, providing a strong start to the year. Series production continued to improve in March, setting an all-time single-month high of 2.7 million Engine Equivalents. The full-year outlook remains positive, with the anticipated start of production of a new high volume in-line diesel engine for passenger vehicles in the third-quarter, providing further growth potential.
"Series production in 2017 was burdened by temporary reductions in three high volume programmes. These programmes have now posted strong improvements, and new niche volume programmes have come on-stream, primarily in the industrial power sector, to contribute to the total volume. Together with the Mini-System 3000 order at Sanlian Casting in China during February, and a 13% increase in first quarter Sampling Cup shipments, the increased series production provides a strong start to the year" said Dr. Steve Dawson, President & CEO of SinterCast. "The strong start, plus the anticipated start of production of the high volume passenger vehicle in-line diesel engine during the third quarter, puts us squarely on track for our targeted return to double-digit growth in our series production in 2018."
Following a flat period caused by temporary reductions in some programmes, series production increased to the record level of 2.5 million Engine Equivalents in the first quarter of 2018
For more information:
Dr. Steve Dawson President & CEO SinterCast AB (publ) Tel: +44 771 002 6342 e-mail: [email protected]
This press release contains information SinterCast AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the President & CEO Dr. Steve Dawson, at 08:00 CET on 11 April 2018
SinterCast is the world's leading supplier of process control technology for the reliable high volume production of Compacted Graphite Iron (CGI). With at least 75% higher tensile strength, 45% higher stiffness and approximately double the fatigue strength of conventional grey cast iron and aluminium, CGI allows engine designers to improve performance, fuel economy and durability while reducing engine size, weight, noise and emissions. The SinterCast technology, with 45 installations in 13 countries, is primarily used for the production of petrol and diesel engine cylinder blocks and exhaust components for passenger vehicles, medium-duty and heavy-duty cylinder blocks and heads for commercial vehicles, and industrial power engine components for marine, rail, off-road and stationary engine applications. SinterCast supports the series production of components ranging from 2.7 kg to 9 tonnes, all using the same proven process control technology. As a specialist supplier of precision measurement and process control solutions to the metals industry, SinterCast also supplies a suite of tracking technologies, including the SinterCast Ladle Tracker®, Cast TrackerTM and Operator TrackerTM, to improve process control, productivity and traceability in a variety of applications. The SinterCast share is quoted on the Small Cap segment of the Nasdaq Stockholm stock exchange (SINT). For more information: www.sintercast.com
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