Wednesday, May 25, 2016

News: Annual sales growth at AESSEAL

By

Award-winning Rotherham manufacturer, AESSEAL, has seen sales increase for 2015 despite challenging conditions in the oil and gas sector.

With global headquarters at Templeborough, AESSEAL manufactures seals to stop leakage of harmful liquids and gases into the environment for a wide range of industries, including oil and gas, food, water, mining and pharmaceuticals.

The firm has previously seen sales and profits grow every year for over 30 years.

AES Engineering Ltd, parent to the AESSEAL Group, has reported its annual results for the year to December 31 2015 which showed sales improve slightly by 1% from £141.8m to £142.9m. The company said that if adjusted for currency fluctuations in the year, the organic sales growth would be 3.5%.

However, EBITDA (Earnings before taxes), which rose to £25.2m in 2014, up 6% on 2013, fell by 5% to £23.9m. The firm, which supplies customers in 104 countries, said: "The majority of this reduction was due to reduced sales into the oil and gas industry, in particular in Mexico, where the impact of the fall in the oil price has been most significant for the group.

"International business remains challenging but AESSEAL sister companies around the world helped secure a satisfactory result for 2015. Particular strong performers in the year against 2014 were AESSEAL China, AESSEAL Malaysia and AESSEAL Finland."

AESSEAL recently picked up another Queen's Award. The company and its subsidiaries have now won 13 of the awards which are considered the highest official UK awards for British businesses.

The award for Innovation is in recognition of the development of a novel modular approach with standardised components, to deliver a step change in the supply chain for seal support systems.

After the year end, AES Engineering Ltd secured a new £15m, five year multi-currency facility with long term banking partner, HSBC.

AESSEAL continues to focus on innovation, again investing 9% of sales in Research & Development (R&D) in 2015, around £3.9m.

An £8.7m project to expand the company's UK R&D and manufacturing capability is underway. In 2012, the growing firm secured secured £1.7m from the Government's Regional Growth Fund (RGF). AESSEAL purchased land adjoining the Global Technology Centre HQ in Rotherham, which has already expanded a number of times. It could lead to to staff numbers doubling over time.

AES currently employs more than 1,650 people worldwide, of whom approximately 680 are in the UK and Ireland and more than 350 in Rotherham.

AESSEAL website

Images: AESSEAL

0 comments:

Sponsored by:
Members:
Supported by:
More news...

  © Blogger template Newspaper III by Ourblogtemplates.com 2008

Back to TOP