Linamar posts record results, sees revenues climb 24 per cent through 2015
Hasenfratz says company "perfectly positioned" for continued growth
GUELPH, Ont.—Linamar Corp. has posted its fifth consecutive year of record earnings, capitalizing on what was a mainly positive year for the auto industry.
The Guelph, Ont.-based company recorded revenue of $5.2 billion for 2015, a 24 per cent increase from a year earlier. It also posted earnings of $436.7 million over the course of the year, or $6.71 per share—a 33 per spike from its 2014 earnings.
“We are thrilled to deliver another record year on sales and earnings at Linamar, our fifth consecutive year of doing so,” the company’s CEO, Linda Hasenfratz, said. “Financially we again saw strong, industry leading double digit top and bottom line growth.”
“Strategically,” she added, “we have made enormous progress in 2015 in our vertical integration strategy, successfully acquiring or joint venturing with three world leading forging and aluminum casting companies. We are perfectly positioned for continued exciting market share growth driving continued exceptional performance in 2016 and beyond.”
Led by 42 per cent growth in operating earnings from its industrial segment, the company also achieved 31 per cent earnings growth within its larger Powertrain and Driveline business.
Linamar made major headway into the aluminum components market in 2015 by taking over French auto parts maker Montupet in an approximately $1.16 billion deal.