Wednesday, June 19, 2019

News: Record-breaking sales in AESSEAL's 40th year

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Rotherham manufacturer AESSEAL has hit a new high with an unbroken three-month run of record-breaking sales.

With its global headquarters at Templeborough, the company sells to 104 countries around the world and recorded £17.6m in sales of mechanical seals, support systems and reliability-based product and service solutions during May 2019 alone – more than £800,000 over target.

The business had already beaten its previous record in March and again with even higher sales in April this year, achieving over £16.4m in each month.

Designing and manufacturing mechanical seals and support systems for a wide range of global industries including oil and gas, food, water, mining and pharmaceuticals, AESSEAL is marking its 40th anniversary in 2019. Founder, Chris Rea OBE purchased Aurora Engineers Supplies in 1979, as a small distributor of mechanical seals, with ten employees and an annual turnover of £400,000.

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Jim Hamilton, general manager and director at AESSEAL, said: "We put this fantastic success down to increased demand for high quality products which deliver reliability, swift return on investment and long-term value for money. AES continues to invest in technology that achieves this goal for our customers.

"This constant pushing forward is not without its challenges, however the excellent AES global workforce, coupled with teamwork across the board continues to respond proactively to overcome them.

"Our success is all the more gratifying in light of this."

Group turnover rose 6.3% from £170.6m to £181.3m in the year to December 31 2018, with organic sales growth of 8% when adjusted for acquisitions and currency fluctuations. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 15.7% to £34.7m.

Group net assets rose to £122.8m, an increase of 18.6% from 2017, and the group held a positive cash balance of £16.5m at year end, despite increasing capital expenditure – which included investment of £6.8m in additional 9 and 11 axis machining capacity.

AESSEAL website

Images: AESSEAL

1 comments:

Marcus T June 28, 2019 at 7:49 AM  

Congratulations to my first company. You've come a long way.

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