News: AESSEAL continues to grow sales and profit
Award-winning Rotherham manufacturer, AESSEAL has again reported growth in sales and profit, a record that extends over 30 consecutive years.
Its annual results for the year to December 31 2012 show that the company, parent to the AESSEAL Group, pushed up sales during the year by 6.4%, to £131.9m. After allowing for acquisitions and exchange differences the company reports that like for like sales growth was a healthy 8.2%.
With global headquarters at Templeborough, AESSEAL is the world's fourth-largest designer and manufacturer of mechanical seals for a wide range of industries, including oil and gas, food, water, mining and pharmaceuticals.
The past year saw earnings before interest, tax, depreciation and amortisation (EBITDA) rise to £23.8m. Activities in its key strategic market of oil and gas also grew, by 26% in 2012, on top of the previous year's 49%. Net assets of £64,150,000 is 17.2% up on 2011's £54,727,000. It also increased the stock it holds to £25.3m, up 6.3% from 20011's £23.8m, enabling it to give customers even faster service.
The group reports it has expanded in the UK and around the world, especially in emerging markets, that it is "well positioned to take advantage of the higher growth rates in markets outside of Europe and the USA" and will be continuing to strengthen its network wherever it sees opportunities for accelerated development, including sub-Saharan Africa and the Middle East.
The group's expanding pump business, Bedford-based AESPUMP, also made excellent progress, including acquisitions in Denmark and The Netherlands. Sales rose to £9.3m in 2012, an aggregate growth of 30% on 2011.
Stephen Shaw, group engineering director, said: "Our investment in research and development over the past five years has seen the product range develop more than any other seal company worldwide during that period."
AES Engineering Ltd employs more than 1,600 people worldwide, of whom nearly 600 are in the UK and Ireland and more than 330 in Rotherham.
During the financial year, AESSEAL purchased land and buildings on a site neighbouring its UK headquarters in Rotherham which could lead to the 300-strong workforce doubling over time. It also invested £3m in expanding its US operation.
Chris Rea, OBE, group founder and managing director at AESSEAL, said: "Over the last three years the group has continued to develop as a reliability-focused business, with exceptional sales growth of complementary products such as our bearing protection and seal support system ranges alongside emerging complementary services and consultancy support capabilities. In addition our objective to offer a high-quality alternative for compressor dry gas mechanical seals is now a reality.
"The group's purpose is to put customers at the heart of our business through providing exceptional customer service. Our customers have supported the expansion of our products, processes and the globalisation of our business.
"We believe this growth will continue in 2013 and beyond as long as we continuously improve every aspect of our business that brings a benefit to our customers."
AESSEAL website
Images: AESSEAL
Its annual results for the year to December 31 2012 show that the company, parent to the AESSEAL Group, pushed up sales during the year by 6.4%, to £131.9m. After allowing for acquisitions and exchange differences the company reports that like for like sales growth was a healthy 8.2%.
With global headquarters at Templeborough, AESSEAL is the world's fourth-largest designer and manufacturer of mechanical seals for a wide range of industries, including oil and gas, food, water, mining and pharmaceuticals.
The past year saw earnings before interest, tax, depreciation and amortisation (EBITDA) rise to £23.8m. Activities in its key strategic market of oil and gas also grew, by 26% in 2012, on top of the previous year's 49%. Net assets of £64,150,000 is 17.2% up on 2011's £54,727,000. It also increased the stock it holds to £25.3m, up 6.3% from 20011's £23.8m, enabling it to give customers even faster service.
The group reports it has expanded in the UK and around the world, especially in emerging markets, that it is "well positioned to take advantage of the higher growth rates in markets outside of Europe and the USA" and will be continuing to strengthen its network wherever it sees opportunities for accelerated development, including sub-Saharan Africa and the Middle East.
The group's expanding pump business, Bedford-based AESPUMP, also made excellent progress, including acquisitions in Denmark and The Netherlands. Sales rose to £9.3m in 2012, an aggregate growth of 30% on 2011.
Stephen Shaw, group engineering director, said: "Our investment in research and development over the past five years has seen the product range develop more than any other seal company worldwide during that period."
AES Engineering Ltd employs more than 1,600 people worldwide, of whom nearly 600 are in the UK and Ireland and more than 330 in Rotherham.
During the financial year, AESSEAL purchased land and buildings on a site neighbouring its UK headquarters in Rotherham which could lead to the 300-strong workforce doubling over time. It also invested £3m in expanding its US operation.
Chris Rea, OBE, group founder and managing director at AESSEAL, said: "Over the last three years the group has continued to develop as a reliability-focused business, with exceptional sales growth of complementary products such as our bearing protection and seal support system ranges alongside emerging complementary services and consultancy support capabilities. In addition our objective to offer a high-quality alternative for compressor dry gas mechanical seals is now a reality.
"The group's purpose is to put customers at the heart of our business through providing exceptional customer service. Our customers have supported the expansion of our products, processes and the globalisation of our business.
"We believe this growth will continue in 2013 and beyond as long as we continuously improve every aspect of our business that brings a benefit to our customers."
AESSEAL website
Images: AESSEAL
0 comments:
Post a Comment