Linamar said it had achieved a strong fourth quarter of double digit earnings growth and healthy full year results.

A second "major e-axle win" had  "capped off a record year for sales, profits and new business wins", the Canadian supplier said in a statement.

Sales increased 14.5% year on year to a record $6.5bn while net earnings before unusual items and foreign exchange impacts increased 11.8% to a record $551.5m.

During the year, a second major e-axle win of peak volume 550,000 per year was secured and continued business wins maintained a strong launch book of over $4.3bn.

Laniumar also claimed double digit content per vehicle growth in every region globally.

Powertrain/driveline segment sales were up 11.1% and operating earnings "normalised for foreign exchange" rose 13.4% despite flat global markets and declines in the North American market driven by launches.

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Industrial segment sales rose 43.9% and operating earnings were up 32.5%, roughly doubling global markets thanks to market share gains in every product segment on a global basis.

Sales in the fourth quarter were $1,574.5m, up $199.7m.

Sales for powertrain/driveline increased $136.2m, or 11.1% thanks to additional sales from launching programmes in Europe and North America, increased volumes from light vehicle automotive customers in North America, Europe and Asia; and additional sales from our on- and off-highway vehicle customers partially offset by unfavourable foreign exchange.

Industrial segment product sales increased 43.9%, or $63.5m, to $208.2m in Q4 2017 from Q4 2016.

Q4 operating earnings were $158.2m versus $147m a year ago.

Q4 2017 operating earnings for Powertrain/Driveline were higher by $7.0m or 5.7% over Q4 2016.

Industrial segment operating earnings in Q4 2017 were higher by $4.2m, or 17.1%

"We are thrilled with another quarter of excellent top and bottom line growth despite soft markets driving us to another record year in both sales and earnings," said Linamar CEO Linda Hasenfratz.

"Securing a second major e-axle program win is strategically key to helping us to build strong content in electric vehicles for the future and caps off a record year overall for new business wins for us. Strong cash flow completed the trifecta of solid performance, excellent outlook and the cash to invest in our future."

The board declared a quarterly dividend of CDN$0.12 per share.