BorgWarner has posted fourth quarter net earnings dipping slightly from US$141m to US$141m, while full-year net sales were a record US$8.3bn, up 12%.
Excluding the impact of foreign currencies and the Wahler acquisition, net sales were up 7% compared with fourth quarter 2013.
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“2014 was a remarkably positive year for our company,” said BorgWarner, president and CEO, James Verrier. “Global adoption of our advanced powertrain technology, combined with the Wahler acquisition, drove strong net sales growth of 11.7%.
“Furthermore, we delivered an impressive 12.9% operating income margin, up from 12.4% in 2013, despite executing a major restructuring of the drivetrain segment, incurring the costs of global growth and facing other macro challenges.
“As we look ahead to 2015, we expect our backlog of net new business to drive low double-digit organic net sales growth as demand for our product technologies that improve fuel economy, emissions and performance, continues to accelerate around the globe.”
Gustav Wahler and its general partner produces exhaust gas recirculation (EGR) valves, EGR tubes and thermostats.
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