MAUMEE, Ohio—Dana Holding Corp. released its preliminary results for 2015, authorized the repurchase of an additional $300 million of common shares and completed its $1.4 billion repurchase authorization completed in the fourth quarter of 2014.
Dana reported sales of $6 billion in 2015, which it said was comparable to 2014. The firm said strong North American vehicular markets offset weaker demand in the global off-highway and Brazilian markets.
The firm said EBITDA for 2015 is about $655 million, or 10.9 percent of sales, about 40 base points lower than 2014. Dana cited supply chain inefficiencies in its Commercial Vehicle segment, leading to increased costs and lower sales with a significant customer.
Dana's 2016 guidance includes sales of $5.8 billion to $6 billion and EBITDA at $640 million to $670 million, or between 11 and 11.2 percent of sales.
Dana is a global manufacturer of highly engineered driveline, sealing and thermal management technologies for the automotive industry's passenger vehicle, commercial truck and off-highway equipment markets. Headquartered in Maumee, the firm employs about 23,000 in 25 countries.