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Linamar Posts Q1 - 2014 Interm Report

Web posted on May 22, 2014

Linamar's Q1 Revenue Breaks $1 Billion, Drives Record Earnings with Solid Margin Expansion to Industry Leading Levels. Highlights from the report include:

--> Operating earnings up 56.3% over Q1 2013 to reach record levels of $112.1 million;

--> Net earnings up 64.6% over Q1 2013 and earnings per share up 64.0% over Q1 2013 reaching $79.7 million and $1.23 respectively, a new record for both;

--> Net margins reach 7.6%, well above target levels of 4 to 6%;

--> Launch book at more than $3.0 billion;

--> Industrial segment showed significant margin improvements from Q1 2013 with operating earnings up 111.9% to $30.3 million on a sales increase of 31.2%;

--> Powertrain/Driveline showed strong margin improvements as well with operating earnings up 42.5% to $81.8 million from Q1 2013 on a sales increase of 21.6%;

--> Return on Capital Employed reached 19.5% continuing our trend of solid improvements for the last 11 quarters;

--> Return on Equity improved 26% from Q1 2013 to reach 22.6%; and

--> Total debt to capital continues to improve reaching 28.4%, one of the strongest balance sheets in our peer group.

"What a terrific quarter for us at Linamar with sales exceeding that $1 billion mark and another exceptional level of margin improvement," said Linamar CEO Linda Hasenfratz. "We continue to deliver double digit growth top and bottom line, excellent return on equity for our shareholders, and enjoyed significant growth in content per vehicle in every region. We continue to build our launch book now north of $3 billion in annual sales currently under launch. The market is opportunistic for continued growth and our team delivering on every count. We are so pleased with the quarter, a great start to 2014."

The full report can be found online at Linamar's website


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