Federal-Mogul reports strong sales growth in 2015

Federal-Mogul has published net sales of US$7,419 million, compared to US$7,317 million in 2014. Sales from acquired businesses as well as organic sales growth were largely offset by the negative impact of currency exchange rate fluctuations, it said. Gross profit was US$1,074 million, up US$17 million or 2%, compared with full-year 2014, despite a US$113 million negative impact from currency exchange rate fluctuations. Net sales for the fourth quarter were US$1,798 million, compared to US$1,795 million in Q4 2014. Net sales increases from the acquired valvetrain business, as well as from strong domestic aftermarket sales in the US and Canada, were offset by a US$132 million negative impact from currency exchange rate fluctuations. Gross profit was US$270 million, an improvement of US$45 million, or 20%, compared with Q4 2014, despite a US$21 million negative impact from currency exchange rate fluctuations. Federal-Mogul¡¯s Powertrain division reported fourth quarter revenue of US$1,066 million, compared to $1,039 in the prior year period, while 2015 full-year Powertrain revenue was US$4,450 million, compared to US$4,430 million in 2014. Negative impact The company¡¯s Motorparts division reported fourth quarter revenue of US$792 million, compared to US$823 million in the prior year period. Organic sales growth of US$26 million was more than offset by a US$57 million negative impact from currency exchange rate fluctuations. 2015 full-year Motorparts revenue was US$3,253 million, compared to US$3,192 million in 2014. Revenue growth, driven principally from the full-year benefit of the Affinia chassis and Honeywell brake component acquisitions, was largely offset by a US$235 million negative impact from currency exchange rate fluctuations.