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August 17, 2018 02:00 AM

Datwyler posts financial gains as demand for seals rises

European Rubber Journal
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    ALTDORF, Switzerland—Datwyler Group increased its first half net revenue by 7.7 percent year-on-year to $698 million.

    In an Aug. 10 financial report, the company noted that its earnings (EBIT) margin improved to 13.1 percent, while the net result rose by 17.3 percent to $62.8 million.

    In what it described as "moderate" market conditions, Datwyler noted high demand for its seal components, particularly in the health care industry. The firm also said that its earnings grew despite higher raw material prices and set-up costs associated with expansion plans.

    Current projects include the construction of a new plant in the U.S. dedicated to the manufacturing of health care-related products.

    "The Datwyler Group has maintained its profitable growth path in the first half of 2018," CEO Dirk Lambrecht said in a statement. "The healthy order book in the key market segments of health care and automotive as well as some promising acquisition projects should generate additional momentum in the second half of the year."

    For the year as a whole, Datwyler is expecting net revenue of between $1.36 billion and $1.41 billion and an EBIT margin within the 12-15 percent target range.

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