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Linamar releases Q2 2014 numbers

Web posted on August 09, 2014

On August 7, 2014, Linamar Corporation released its' second quarter numbers for 2014. The report shows record results, strong margins, and continued cash generation. The highlights include:

Sales increase 18.9% over the second quarter of 2013 to reach record levels of $1.1 billion;
Operating earnings up 38.0% over Q2 2013 to reach record levels of $124.3 million;
Net earnings up 47.8% over Q2 2013 and earnings per share up 46.8% over Q2 2013 reaching $89.7 million and $1.38 respectively, a new record for both;
Net margins reach 8.1%;
Launch book at nearly $3.2 billion;
Industrial segment showed significant margin improvements from Q2 2013 with operating earnings up 52.0% to $38.0 million on a sales increase of 20.5%;
Powertrain/Driveline showed strong margin improvements as well with operating earnings up 32.6% to $86.3 million from Q2 2013 on a sales increase of 18.5%;
Return on Capital Employed reached 21.5% continuing the trend of solid improvements for the last 12 quarters;
Return on Equity improved 14.8% from Q2 2013 to reach 24.1%;
Continued cash generation of nearly $50 million to drive one of the strongest balance sheets in their peer group.

Linamar Corporation (TSX:LNR) is a diversified global manufacturing company of highly engineered products powering vehicles, motion, work and lives. The Company is made up of 2 operating segments the Powertrain/Driveline segment and the Industrial segment which are further divided into 4 key divisions Manufacturing, Driveline, Industrial Commercial Energy ("ICE") and Skyjack, all world leaders in the design, development and production of highly engineered products. The Company's Manufacturing and Driveline divisions focus on precision metallic components, modules and systems for engine, transmission and driveline systems designed for passenger vehicle markets. The ICE group concentrates on similar products for on and off highway vehicle, energy and other industrial markets. The Company's Skyjack division is noted for its innovative, high quality mobile industrial equipment, notably its class-leading aerial work platforms and telehandlers. With more than 18,000 employees in 44 manufacturing locations, 5 R&D centers and 15 sales offices in 12 countries in North America, Europe and Asia, Linamar generated sales of $3.6 billion in 2013.

"We are thrilled to report another outstanding quarter of record results," said Linamar CEO Linda Hasenfratz. "We continue to deliver double digit growth top and bottom line and delivered another solid performance in margins in all areas driving excellent return on equity for our shareholders. Our strong results are driving continued cash generation even as we invest in our substantial book of business launching, meaning we have a strong balance sheet with maximum flexibility. We are on track for another great year at Linamar and feel very positive about continued strong performance in the future."

The full report can be found at the Linamar website.

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