Series production 2.4 million Engine Equivalents in December - Record installation revenue
[Stockholm, 14 January 2021] – Influenced by seasonal year-end shutdowns, series production in December decreased to 2.4 million Engine Equivalents, resulting in annualised production of 2.6 million Engine Equivalents for the fourth quarter. The December production was 6% below the December 2019 volume, while the year-on-year production for the fourth quarter was down 16%. Overall, series production for the full-year finished at 2.5 million Engine Equivalents, corresponding to a decrease of 24% compared to the full-year volume of 3.3 million Engine Equivalents in 2019.
As predicted at the outset of the year, 2020 provided a second consecutive year of record installation revenue. Building on System 4000 Plus installations at the First Automobile Works (FAW) foundry in China and at the new Scania foundry in Sweden, plus the exercise of a System 4000 purchase option at the WHB foundry in Brazil, full-year installation revenue finished at SEK 16.6 million. The 2020 installation revenue is 40% higher than the previous record of SEK 11.9 million set in 2019, and more than double the historical ten-year average established from 2010 to 2019.
“From the low-point of 1.0 million Engine Equivalents in April, we recovered to an average annualised production of 2.7 million Engine Equivalents in the second half of the year, positioning ourselves at approximately 80% of our pre-corona run-rate as we enter the new year” said Dr Steve Dawson, President & CEO. “With new commercial vehicle programmes starting production at FAW and Scania during 2021, plus the overall market recovery, we remain confident in returning to our pre-corona run-rate in the near-term. We also maintain our confidence in the long-term growth potential of CGI and in our ability to reach and exceed the five million Engine Equivalent milestone.”
For more information:
Dr. Steve Dawson
President & CEO
SinterCast AB (publ)
Tel: +44 771 002 6342
SinterCast is the world’s leading supplier of process control technology for the reliable high volume production of Compacted Graphite Iron (CGI). With at least 75% higher tensile strength, 45% higher stiffness and approximately double the fatigue strength of conventional grey cast iron and aluminium, CGI allows engine designers to improve performance, fuel economy and durability while reducing engine size, weight, noise and emissions. The SinterCast technology is used for the production of petrol and diesel engine cylinder blocks and exhaust components for passenger vehicles, medium-duty and heavy-duty cylinder blocks and heads for commercial vehicles, and industrial power engine components for agriculture, marine, rail, off-road and stationary engine applications. SinterCast supports the series production of components ranging from 2.7 kg to 9 tonnes, all using the same proven process control technology. As a specialist supplier of precision measurement and process control solutions to the metals industry, SinterCast also supplies the SinterCast Ladle Tracker® and SinterCast Cast Tracker® technologies, to improve process control, productivity and traceability in a variety of applications. With 54 installations in 14 countries, SinterCast is a publicly traded company, quoted on the Small Cap segment of the Nasdaq Stockholm stock exchange (SINT). For more information: www.sintercast.com
- END -