Dana sales for second quarter 2017 reached US$1.84bn, compared with $1.55bn a year ago, an increase of 19%. The supplier said the increase was dye to recent acquisitions that contributed $150, new customer deals, higher demand in global light truck markets and improved demand in off highway markets.
Currency movements affected sales by $10m.
Go deeper with GlobalData
Net income was $71m, compared with $53m thanks to an increased in adjusted EBITDA.
Adjusted EBITDA of $217m provided an 11.8% margin, a 30 point improvement. The increase of $39m was driven by stronger demand and conversion of a new business backlog. The contribution from acquisitions was $17m while changes in foreign currency rates reduced earnings by $4m.
Dana has raised key financial guidance across all business units.
"We continue to execute our strategy by expanding our markets and winning new business while converting our sales backlog into profitable growth. This quarter's strong sales, profit, and cash flow are driven by improved market conditions, our recent acquisitions, and a focus on operational execution," said president and chief executive officer James Kamsickas.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData"We have raised our financial guidance this year consistent with our continued strong operating performance and improved customer demand. The solid foundation that we have established will serve as an enabler to continue to deliver on our commitments beyond 2017."
