Copy Tracking Code

Prime Mover Magazine


Wabco 2Q revenue declines despite gains in North America

Wabco Holdings Inc. has reported lower revenue and net income in a tough global market over the second quarter.

Net income fell $70.6 million from $104.4 million for the period that ended 30 June the commercial vehicle technology specialist announced.

Revenue also declined $913 million for the Switzerland company, which is based in Bern, compared with $1 billion a year earlier amid lower sales in overall truck, bus and trailer markets.

Sales in North America increased 3.5 per cent to 4.4 per cent excluding foreign currency translation effects.

Europe where growth slowed is where Wabco does 76 per cent of its business.

“The second quarter of 2019 was affected by a slowdown in economic growth expectations across most regions, leading to a further deterioration in key markets where we operate," the company said in a statement.

"This impact was partially offset through agile management of our variable cost structure and discretionary operating expenses. Due to the size and speed of the drop in markets, we were unable to fully offset the market impact.”

Over the first half of the year net income fell $192 million.

Total year-to-date sales in North America increased 1.2% — 2.2% excluding foreign currency translation effects.

Sales to truck and bus manufacturers also increased by 7.1 per cent to 8.2 per cent in North America.

In March ZF Friedrichshafen AG.entered into an agreement to acquire Wabco for  over $7 billion. Wabco shareholders

Wabco entered into a $7 billion agreement to be acquired by ZF Friedrichshafen AG. Wabco shareholders adopted the plan June 27.

Featured Article

  • Shine a light

    Shine a light

    Global original equipment specialist HELLA Australia is investing heavily in its local operations. With a dedicated new facility already on the way, adding special applications in electronics to its joint ventures and established brands makes for a compelling portfolio.

    Read Story

  • advertisement
  • Click here to join the CRT network today
  • Keep up to date on the latest news and developments in the commercial road transport industry. Sign up to CRT News today to receive a FREE weekly E-newsletter delivered straight to your inbox.


  • advertisement

© Copyright 2019 Prime Creative Media. All rights reserved.

Find us on Google+