The once-glorious parts giant is now in a more and more difficult situation. Before, we took stock of the impact of the epidemic on the global automobile industry. The main reason is that the supply of parts made in China has been cut off, which has led to "cooking without rice" in many automobile factories around the world.
In fact, since last year, the life of the parts giant has been difficult. Recently, the international mainstream parts companies published the financial report for 20 19 years. Of the 10 parts enterprises we counted, only two have achieved revenue and profit growth, while the others have fallen sharply.
For the performance in 2020, most enterprises also give less optimistic expectations, and this is a prediction made considering the impact of this epidemic.
The sales of Bosch, the world's largest parts group, declined slightly in 20 19, but earnings before interest and tax experienced a sharp decline. The main reasons include the sharp drop in automobile production in China, Indian and other important markets, the further decrease in the market share of diesel vehicles, the increase in costs caused by the reorganization of the company's internal business segments, and the increase in investment in new technologies and projects.
The money invested in the future cannot be saved, so in 2020, Bosch will continue to invest 6,543.8 billion euros in electrification and automation. Considering that global automobile production will not increase before 2025, the next pressure is still great. In terms of cost reduction, Bosch said that personnel optimization will be considered when necessary.
Magna's profit also fell sharply in 20 19, partly due to the rising engineering cost of the driver assistance system business department, but it is expected that this cost will fall in the next few years. For this year's performance, Magna expects that the net profit will increase slightly compared with last year, ranging from $65.438 +0.8 billion to $2 billion.
Affected by the decline in automobile sales in China and the United States, the revenue and profit of Bridgestone tire business also declined in 20 19, but it is optimistic about Bridgestone's performance in 2020. Revenue and profit are expected to increase by 1.2% and 4.7% respectively.
The life of Michelin, another tire manufacturer, is much better. Although tire sales declined, thanks to several excellent business acquisitions and good management of the company, the performance achieved growth. However, the market is so depressed that Michelin predicts that the profit will drop slightly in 2020.
The general strike caused the supplier lear corporation to lose more than $300 million in sales. Coupled with the global automobile market decline, unfavorable exchange rate factors and the impact of internal restructuring of the company, Lear's performance in 20 19 declined. For 2020, Lear is expected to be the same as last year.
The general strike also has a great impact on Valeo's performance, and coupled with the global automobile industry recession, the decline in performance is inevitable. However, Valeo expects that with stricter cost control, the company is expected to outperform the market this year.
Although the main business such as chairs and interiors performed poorly, the acquisition of Gele Electronics had a positive impact on finance, so the income and profit of Faurecia 20 19 increased. In 2020, Faurecia will also strive to achieve steady growth in sales and cash flow.
An Bofu said that the decline in 20 19 revenue was mainly affected by factors such as exchange rate, general strike and increased investment in new technologies. However, the overall performance of the company is still bright, with a growth rate of 9% higher than the market average. It is expected to develop at a rate of 7% higher than the market average this year.
Delphi Technology, which originally belonged to Ampofo, was much more sad after the spin-off, and its revenue and net profit fell sharply, mainly because diesel vehicles in Europe were not popular, and many car companies closed their production bases, resulting in a decline in business volume. Last month, the company officially announced its acquisition by Borg Warner, and the transaction will be completed in the second half of the year.
The overall performance of Visteon 20 19 is poor, but the company is committed to promoting the research and development of the next generation digital cockpit. Judging from the performance in the fourth quarter, this transformation is seeing results, so Visteon predicts that revenue and profits will increase in 2020.
On the whole, the 20 19 general motors strike, coupled with the fact that more and more car companies have adjusted their production layout and closed some factories one after another, still have a great impact on parts companies. Coupled with the transformation of the automobile industry to the new four modernizations, spare parts enterprises have to increase investment in new technology research and development, so the cost is also increasing. The only company that has achieved performance growth is also achieved through business acquisition, rather than the outstanding performance of its main business.
Affected by the epidemic in the first quarter, the performance of most parts companies will be affected, and it is uncertain whether this impact can be diluted in the next three quarters. Therefore, after the epidemic is over, the performance forecasts of the above-mentioned companies in 2020 may be adjusted.
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.