Getrag ended 2011 booking earnings before interest and taxes (EBIT) almost doubled to EUR191.6m versus EUR86.5m in 2010.
This included a contribution from a now-divested axles unit until September 2011. Turnover was a record EUR3bn.
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“We expect an increase of turnover to EUR3.2bn while our headcount will rise to 13,880 in 2012”, CFO Mike McMillan said. “We are still in a turnaround situation and not where we want to be with our results.”
Getrag expects manual transmission volume to rise from 2.78m units in 2011 to 4.2m in 2016. Dual clutch volume is seen up from 655,000 last year to 1.33m.
Getrag Asia Pacific, which includes China, expects turnover to increase from EUR268m in 2011 to near EUR1bn in 2016. Manual transmission sales in that region are forecast to grow from 644,000 last year to 1.7m in 2016; dual clutch sales from the 10,000 expected in 2013 to 200,000 in 2016.
Getrag is planning a manual transmission factory in Sanand, Gujarat state, to supply Ford India. The automaker last March laid the cornerstone for its new US$1bn factory on a 460 acre site nearby which will have capacity for 240,000 cars and 270,000 engines a year when completed in 2014.
“We are very excited about this project allowing us to enter the large and important market of India,” Kotecha said.
