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November 8, 2018

Linamar Q3 sales and profits rise

Canadian supplier Linamar increased third quarter sales 18.6% year on year to US$1.8bn.

By Olly Wehring

Canadian supplier Linamar increased third quarter sales 18.6% year on year to US$1.8bn.

Operating earnings rose 13.7% to $161.4m. Net profit was up up 5.5% to $113.2m.

Q3 sales were boosted by increased volume from light vehicle automotive customers in North America and Asia; favourable impact from the changes in foreign exchange rates from Q3 2017; and additional sales from new programmes in North America; partially offset by sales declines on mature programmes primarily in Europe largely due to the new Worldwide Harmonized Light Vehicles Test Procedure (WLTP).

"We are delighted to announce another quarter of double digit sales and earnings growth,"" said CEO Linda Hasenfratz.

"We continue to see record levels of opportunity and market share growth in our automotive business thanks to evolving technologies so well aligned to our capabilities."

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