January 23, 2017 3:58 AM ET

Auto Components

Company Overview of Carraro Drive Tech SpA

Company Overview

Carraro Drive Tech SpA designs, manufactures, and markets axles, transmissions, and steel gears to customers in Italy and internationally. The company’s products are used in construction equipment, agriculture equipment, material handling, automotive, and other applications. It also offers after sales and spare parts. The company was founded in 2008 and is based in Campodarsego, Italy with production plants in Italy, Argentina, India, and China.

Via Olmo, 37

Campodarsego, PD 35011

Italy

Founded in 2008

Phone:

39 04 99 21 91 11

Fax:

39 04 99 28 91 11

Key Executives for Carraro Drive Tech SpA

Chief Commercial Officer
Compensation as of Fiscal Year 2016.

Carraro Drive Tech SpA Key Developments

Carraro Drive Tech Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016

Carraro Drive Tech announced unaudited earnings results for the third quarter and nine months ended September 30, 2016. The company recorded a turnover of EUR 118.4 million in the third quarter of 2016, a drop of 3.3% compared to the EUR 122.5 million recorded for the same period of 2015. The EBITDA in the third quarter of 2016 amounted to EUR 11.3 million (9.5% of turnover) compared to EUR 6.6 million (5.4% of turnover) for the third quarter of the previous year. For the nine months, the company reported turnover EUR 357.1 million, compared to the EUR 423.1 million recorded for the same period of 2015, a decline of 15.6%. Despite suffering from the negative effects on volumes, the EBITDA at 30 September 2016 amounted to EUR 27.9 million (7.8% of turnover), an increase of 20.8% compared to the EUR 23 million (5.4% of turnover) recorded for the same period of the previous year.

Carraro Drive Tech Reports Earnings Results for the Year Ended December 31, 2014

Carraro Drive Tech reported earnings results for the year ended December 31, 2014. For the period, the company achieved a total turnover of EUR 610.5 million in 2014, down 14.6% from EUR 714.7 million in 2013, with foreign currency translations having an unfavourable impact of approximately EUR 8.4 million. Excluding the effects of the sale of the Mini Gears business unit, the decrease would be 9.1%. Demand remained weak throughout 2014, constantly below prior year levels. While the material handling segment reported slightly higher volumes compared to 2013, the performance of the agricultural, construction equipment, construction and automotive markets was well below that of the previous year. In terms of profitability, EBITDA amounted to EUR 49.2 million compared to EUR 61.7 million in 2013, accounting for 8.1% of sales as at December 31, 2014 compared to 8.6% as at December 31, 2013, a decline of 20.7%. Excluding non-recurring costs for the reorganization process and excluding Mini Gears, adjusted EBITDA in 2014 would amount to EUR 49.3 million (8.4% of sales) compared to EUR 53.1 million (8.2% of sales); this slight increase reflects the company's ability to control the major economic factors despite the significant contraction in sales. EBIT came to EUR 28.8 million (4.7% of sales), down 22.7% compared to EUR 37.2 million as at December 31, 2013 (5.2% of sales). Excluding non-recurring costs for the reorganization process and excluding Mini Gears, adjusted EBIT in 2014 would amount to EUR 30.6 million (5.2% of sales) compared to EUR 34.8 million (5.4% of sales), in line in percentage terms with the prior year.

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