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March 30, 2015 5:33 AM ET

Auto Components

Company Overview of Nexteer Automotive Group Limited

Company Overview

Nexteer Automotive Group Limited, an investment holding company, designs, engineers, manufactures, and distributes steering and driveline systems and components primarily for original equipment manufacturers worldwide. The company offers steering systems and components, such as electric power steering, hydraulic power steering, and steering columns; and driveline systems and components comprising front wheel drive, intermediate drive, and rear wheel drive halfshafts, as well as propeller shaft joints. It also provides rack-assist, single pinion-assist, and column-assist EPS products; and torque overlay solutions that analyze input from multiple vehicle systems to determine the appropriate re...

3900 East Holland Road

Saginaw, MI 48601

United States

Founded in 1906

11,000 Employees



Key Executives for Nexteer Automotive Group Limited

Chief Technology & Strategic Officer, Senior Vice President, Executive Director and Chairman of China Division & Driveline Business Units
Age: 58
Total Annual Compensation: $2.1M
Vice President, Joint Company Secretary and Executive Director
Age: 48
Total Annual Compensation: $305.0K
Compensation as of Fiscal Year 2013.

Nexteer Automotive Group Limited Key Developments

Nexteer Automotive Eyes Acquisitions

Nexteer Automotive Group Limited (SEHK:1316) is looking for acquisition opportunities. Guibin Zhao, Chairman and Chief Executive Officer of Nexteer, said, "Technology is the competitive advantage that drives opportunity for Nexteer. The integration of advanced driver assist functionality into our systems is key to providing sustainable solutions that customers increasingly require. Our capital structure enables us to consider targeted acquisitions and alliances appropriate for our business. This is an enormous benefit as we look to develop collaborative strategies to continue to grow the enterprise globally."

Nexteer Automotive Group Limited Recommends Final Dividend, Payable on June 22, 2015; Announces Consolidated Earnings Results for the Year Ended December 31, 2014

The Board of Nexteer Automotive Group Limited recommended the payment of a final dividend of $32.3 million or $0.013 per share of the company for the year ended December 31, 2014, subject to the approval of the Shareholders at the forthcoming annual general meeting of the company. The dividend is payable on June 22, 2015 and the record date for entitlement to the proposed final dividend was June 12, 2015. The company announced consolidated earnings results for the year ended December 31, 2014. For the year, revenue was $2,978,068,000 against $2,386,823,000 a year ago. Operating profit was $236,896,000 against $173,028,000 a year ago. Profit before income tax was $214,596,000 against $151,258,000 a year ago. Profit for the year attributable to equity holders of the company was $161,398,000 against $109,191,000 a year ago. Basic and diluted earnings per share were $0.06 against $0.06 a year ago. The increase in profit of 47.8% compared to the year ended December 31, 2013 was driven by the following: an increase in revenue from new program launches related to previously booked business, strong automobile industry production resulting in higher demand for products, continued rotation of portfolio to Electric Power Steering and enterprise focus on cost and operational efficiency. For the years the Group's cash generated from operating activities was $254,066,000 against $222,915,000 a year ago. Purchase of property, plant and equipment was $172,482,000 against $184,476,000 a year ago. Addition of intangible assets was $106,602,000 against $102,914,000 a year ago.

Nexteer Automotive Group Limited, 2014 Earnings Call, Mar 11, 2015

Nexteer Automotive Group Limited, 2014 Earnings Call, Mar 11, 2015

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