Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Bolsa de Valores de Sao Paulo  >  Mahle Metal Leve S.A.    LEVE3   BRLEVEACNOR2

MAHLE METAL LEVE S.A.

(LEVE3)
  Report
End-of-day quote. End-of-day quote Bolsa de Valores de Sao Paulo - 10/27
18.59 BRL   -1.12%
03/11MAHLE METAL LEVE S.A. : annual earnings release
01/03MAHLE METAL LEVE S.A. : Ex-dividend day for
FA
2019MAHLE METAL LEVE S.A. : Ex-dividend day for
FA
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

Mahle Metal Leve : Release - 2nd Quarter 2019

share with twitter share with LinkedIn share with facebook
08/12/2019 | 06:12pm EDT

MAHLE REPORTS EBITDA OF R$ 114.9 million in 2Q19;

MARGIN OF 17.4%

Mogi Guaçu (SP), August 12, 2019 - MAHLE Metal Leve S.A. (B3: LEVE3), a Brazilian autoparts company that

manufactures and sells components for internal combustion engines and automotive filters, announces today its

results for the second quarter of 2019. The Company's operating and financial information is presented on a

consolidated basis in BRL according to Brazilian Corporation Law unless otherwise indicated.

Earnings conference call and

webcast:

Date: August 13, 2019

12 noon Brasilia time 4:00 p.m. London time 11:00 a.m. New York time

Participant telephone numbers:

Brazil: +55 11 3193-1070

Brazil: +55 11 2820-4070

USA: +1 800 492-3904

Password: MAHLE

Webcast:

http://cast.comunique- se.com.br/Mahle/2T19

RI website:

https://ri.mahle.com.br/

MAHLE website:

http://www.br.mahle.com/pt/

2Q19 HIGHLIGHTS

  • Net sales revenue of R$ 661.8 million in 2Q19, which represents an increase of 5.3% as compared to 2Q18. Net sales revenue in 1H19 was 3.1% higher than in 1H18;
  • At the end of the first half of 2019, while the Brazil and Argentina consolidated vehicle production was down 2.7%, the Company reported a 3.1% increase in sales compared to the same period in 2018, and this performance was also above Brazil's vehicle production (+2.6% in 1H19);

1

TABLE OF CONTENTS

1

MANAGEMENT'S COMMENTS ...................................................................................................................................

3

2

ABOUT MAHLE METAL LEVE ......................................................................................................................................

4

3

DEVELOPMENTS OF THE AUTOMOTIVE INDUSTRY ....................................................................................................

5

3.1

Developments of the Brazilian market...........................................................................................................................

5

3.2

Developments of the Argentina market .........................................................................................................................

5

3.3

Vehicle production in the main export markets..............................................................................................................

6

4

COMPANY'S FINANCIAL AND ECONOMIC PERFORMANCE .........................................................................................

6

4.1

Net sales revenue and segments' share .......................................................................................................................

7

4.2

OE sales........................................................................................................................................................................

7

4.3

Aftermarket sales ..........................................................................................................................................................

8

4.4

Consolidated export by region.......................................................................................................................................

8

4.5

Net revenue by segment ...............................................................................................................................................

9

4.6

Net revenue by product .................................................................................................................................................

9

4.7

Gross margin.................................................................................................................................................................

9

4.8

Selling, general and administrative expenses .............................................................................................................

10

4.9

Technology and new product development expenses.................................................................................................

10

4.10

Other operating income (expenses), net .....................................................................................................................

10

4.11

Operating performance measured by EBITDA ............................................................................................................

10

4.12

Finance result, net.......................................................................................................................................................

11

4.13

Income tax and social contribution ..............................................................................................................................

12

4.14

Net profit......................................................................................................................................................................

12

4.15

Capital expenditures....................................................................................................................................................

12

4.16

Net position of financial assets and liabilities ..............................................................................................................

13

5

INVESTOR RELATIONS AND CAPITAL MARKET .........................................................................................................

14

5.1

Stock performance and free float turnover ..................................................................................................................

14

5.2

Shareholder structure..................................................................................................................................................

14

6

INDEPENDENT AUDITORS ........................................................................................................................................

15

7

EXECUTIVE BOARD'S DECLARATION ........................................................................................................................

15

8

ACKNOWLEDGEMENTS............................................................................................................................................

15

MANAGEMENT ....................................................................................................................................................................

15

9

EXHIBITS..................................................................................................................................................................

16

9.1

Balance sheet..............................................................................................................................................................

16

9.2

Statement of income ...................................................................................................................................................

17

9.3

Statement of cash flows ..............................................................................................................................................

17

2

1 Management's Comments

As already addressed at the beginning of 2019, the year started with negative economic activity data and, consequently, the production rate in the automotive industry has been more moderate than expected. As a result, the second quarter was also challenging.

The general market expectation is for the economy to recover bolstered by reforms and stimulus package which are being proposed by the Brazilian government for the second half of 2019. Therefore, the upward bias to vehicle output in Brazil is likely to continue.

The result of Argentina's presidential elections this year can help kick-start the country's economic recovery. In spite of adversities, we are striving to maintain the good results.

The best response to uncertainties facing us is MAHLE's business model, i.e., a balanced presence in our different market segments: Original Equipment (OE) and Aftermarket both in the domestic and international markets. This balance between our revenue streams allows us to offset fluctuations in these segments and stabilize our profitability margins over time.

So, the Company's revenue grew by 5.3% in 2Q19 compared with the same period in 2018, driven by strong sales in the domestic OE market (15.2%), Aftermarket (13.5%), which were partly offset by OE exports (-7.0%).

The chart below shows the Company's revenue broken down by market in 2Q19 and 2Q18:

In fact, in 2Q19 the Company reported EBITDA of R$ 114.9 million and an EBITDA margin of 17.4%.

MAHLE is systematically embracing a dual strategy for research and development. This means that, on the one hand, we are working intensively on the further optimization of internal combustion engines and, at the same time, we are focusing on the development of alternative drive concepts.

Regarding the development of new technologies, MAHLE Metal Leve is ready to serve customers with its portfolio of products and services and, if needed, possesses the capability to develop and deliver integrated solutions for customers. The ability to collaborate with several players is key to prospecting new cutting-edging technologies increasingly faster and thus boost our business opportunities.

3

2 About MAHLE Metal Leve

We are a Brazilian autoparts company that manufactures and sells components for internal combustion engines and automotive filters. We manufacture products with the latest technology and the highest quality, and we continuously invest in the research and development of new products and production processes.

We have been operating in Brazil since the 1950's and have a large portfolio of products and integrated solutions that in most cases have been specially customized in conjunction with our principal customers. We operate in the OEM (original equipment manufacturers) and aftermarket segments, serving automakers and large autoparts distributors and engine overhaul enterprises.

Our products are manufactured and sold in Brazil and Argentina and exported to more than 60 countries, including USA, Germany, Mexico, Portugal and Spain, for a diversified portfolio of customers including General Motors, Volkswagen, Fiat, Ford, Daimler MBB, Opel, International, Cummins, Volvo, PSA Peugeot, John Deere, Renault, Scania, Caterpillar, Honda, Hyundai, among others.

We own five industrial plants, four of which are located in Brazil, in the cities of Mogi Guaçu (two units) and São Bernardo do Campo, in the State of São Paulo, and i n Itajubá, State of Minas Gerais. Our fifth plant i s located in the city of Rafaela, Argentina. We have two distribution centers: one in the city of Limeira, State of São Paulo, and one in Buenos Aires, Argentina. We have a technology center in the city of Jundiaí, State of São Paulo , which we believe is one of the largest and most well-equipped technology centers in Latin America for development of components and solution packages for internal combustion engines. This center allows us to add value to and meet the requirements of our customers in a customized and efficient manner, and develop innovative new product technologies and processes.

We are part of the German group MAHLE (MAHLE Group), one of the most traditional autoparts suppliers in the world, which was founded in 1920 in Germany. The MAHLE Group currently has more than 170 industrial plants in 35 countries on five continents, 17 research and development centers and approximately 79,000 employees.

As part of the MAHLE Group, a group with global operations, we are able to exchange knowledge, have constant access to the latest technologies and develop new products together with our customers, which we believe are key factors to the high level of market penetration and customer loyalty that we have achieved.

4

3 Developments of the Automotive Industry

3.1 Developments of the Brazilian market

The Brazilian automotive industry has seen a growth of 2.6% in vehicle production and of 11.9% in sales in 1H19 compared with the same period of the prior year.

According to the Brazilian Association of Motor Vehicle Manufacturers (ANFAVEA), vehicle inventory recorded at the end of 1H19 reached 316 thousand units, corresponding to 42 days of sales. In the same period of the previous year, vehicle inventory was equivalent to 36 days of sales, representing 240.6 thousand units.

The table on the right shows the changes in production, sales and total inventory of national vehicles in the first six months of 2019 compared to the same period of 2018:

3.2 Developments of the Argentina market

The Argentine automotive industry reported a decline of 55.5% in vehicle sales and of 33.8% in vehicle production when comparing 1H19 to 1H18.

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

MAHLE Metal Leve SA published this content on 12 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2019 21:11:05 UTC


share with twitter share with LinkedIn share with facebook
All news about MAHLE METAL LEVE S.A.
03/11MAHLE METAL LEVE S.A. : annual earnings release
01/03MAHLE METAL LEVE S.A. : Ex-dividend day for
FA
2019MAHLE METAL LEVE S.A. : Ex-dividend day for
FA
2019MAHLE METAL LEVE : New battery housing from MAHLE reduces weight and CO2 footpri..
PU
2019MAHLE METAL LEVE : Release - 2nd Quarter 2019
PU
2019MAHLE METAL LEVE : makes fuel cells mobile
PU
2019MAHLE METAL LEVE : is making engine components intelligent
PU
2019MAHLE METAL LEVE : Changes to the MAHLE Management Board
PU
2019MAHLE METAL LEVE : reduces winter cruising range loss for electric vehicles by u..
PU
2019MAHLE METAL LEVE SA : Ex-dividend day for interim dividend
FA
More news
Financials
Sales 2020 1 994 M 349 M 349 M
Net income 2020 16,0 M 2,80 M 2,80 M
Net Debt 2020 125 M 22,0 M 22,0 M
P/E ratio 2020 109x
Yield 2020 7,00%
Capitalization 2 381 M 421 M 417 M
EV / Sales 2020 1,26x
EV / Sales 2021 1,09x
Nbr of Employees 6 930
Free-Float 30,0%
Chart MAHLE METAL LEVE S.A.
Duration : Period :
Mahle Metal Leve S.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MAHLE METAL LEVE S.A.
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 4
Average target price 24,25 BRL
Last Close Price 18,59 BRL
Spread / Highest target 61,4%
Spread / Average Target 30,4%
Spread / Lowest Target -19,3%
EPS Revisions
Managers
NameTitle
Sergio Pancini de SŠ Chief Executive Officer & Director-IR
Peter Paul Wilhelm Grunow Independent Chairman
Christian Harald Binkert Director-Finance & Administration
Heinz Konrad Junker Director
Eduardo Augusto Rocha Pocetti Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
MAHLE METAL LEVE S.A.-35.45%429
CUMMINS INC.23.31%32 567
RHEINMETALL-31.64%3 564
DORMAN PRODUCTS, INC.18.78%2 898
TOYOTA BOSHOKU CORPORATION-12.41%2 818
CUMMINS INDIA LIMITED-16.85%1 688