Beru Reports Double-Digit EBIT Growth in First Half 2006 - Tire Review Magazine

Beru Reports Double-Digit EBIT Growth in First Half 2006

(Clacton, U.K./Tyres & Accessories) Beru AG increased its total sales revenues in the first half of the 2006 financial year by 10.4% to 223 million euros.

During the same period, operating profit (EBIT) increased by 23.2% to 30.9 million euros.

The company, which has been listed on the Frankfurt Stock Exchange since the end of February 2006, generated a group net profit of 20.6 million euros.

Beru’s Electronics and Sensor Technology division reported particularly strong revenue growth of 34.5% to 66.3 million euros. The key growth driver was the series ramp-up for two European premium manufacturers with tyre pressure monitoring systems. As had been expected, first-half sales revenues from the Tire Safety System (TSS) increased at an above-average rate of 76% to 19 million euros.

“After a very good start to the year 2006, the Beru group continued along its path of profitable growth in the second quarter. Revenue growth in the first half of 2006 was supported by the ramp-up of new products. At the same time, the company’s value creation increased. With an operating margin of 13.9%, Beru once again achieved a return above the average for the industry,” commented Marco von Maltzan, chairman of the executive board of Beru AG, on business developments in the first six months of 2006.

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