SHW AG reported group earnings results for the first quarter of 2016. For the quarter, the company announced sales of EUR 106.6 million compared to EUR 117.0 million a year ago. As well as the expected decline in sales in the Pumps and Engine Components business segment, sales in the Brake Discs segment suffered due to factors including significantly lower scrap prices on account of reduced material surcharges. Adjusted consolidated earnings before interest, taxes, depreciation and amortization (EBITDA adjusted) amounts to EUR 10.8 million compared to EUR 11.0 million a year ago. The quarterly profit declined accordingly by 19% to EUR 3.3 million compared to EUR 4.1 million a year ago. Earnings per share came to EUR 0.51 compared to EUR 0.67 a year ago.

For 2016, the company continues to expect adjusted EBITDA of between EUR 43 million and EUR 47 million. In particular, this reflects the positive effects of the implementation of the group's productivity-boosting measures in its two business segments. The company expects group sales of between EUR 440 million and EUR 460 million for 2016. It is forecasting sales of between EUR 340 million and EUR 360 million in its Pumps and Engine Components business segment and sales close to the previous year's level in its Brake Discs business segment, assuming similar scrap prices.