Fairford_årsredovis_2015_enkelsidor (2)-50A WORD FROM THE CEO

Demand fluctuated heavily in 2015. A strong first six months was replaced with a dry “period”. This correlated with the Chinese car market’s downturn and recovery. Our planned 10 % growth was replaced by zero growth after currency effects. This negatively affected outcome as did cost increases in some of the larger customer and technology projects.

More stringent emissions standards are driving the car industry to continue investing in environmentally friendly technologies. Car models to be launched before 2020 are using more press-hardened parts. Hot-formed aluminum is close to a breakthrough. We are well-equipped in view of both technologies. We are strengthening our position in press hardening by introducing well-aimed aftermarket and training products. We have also delivered the first aluminum hot forming solutions to customers.

Magnus Baarman, CEO

IMPORTANT EVENTS IN 2015

FAIRFORD ́S VIEW

One of the fundamental motives for acquiring AP&T was an expected technical shift towards press hardening and we can now see that this is fully ongoing within the automotive industry worldwide. AP&T’s customer offering enables lighter and less fuel consuming vehicles as well as improves safety which we believe to be two fundamental cornerstones motivating our long term engagement in the company. AP&T’s strong position within the metal forming industry has strengthened since the acquisition and we remain motivated to continue to support the company and its strategic plan to maintain and develop this market leading position.

Sales, EBITDA

EBITDA graph

Equity Ratio, ROCE

Equity Ratio, ROCE graph