Freudenberg financial performance in 2014 and outlook

On the basis of the pro-rata consolidation of joint ventures, the Freudenberg Group reported sales of €7,039.1 million (previous year: €6,662.5 million) in 2014, representing growth of €416.6 million or 6.3 percent over the previous year. Adjusted for the effects of acquisitions and disinvestments to the amount of €131.0 million and exchange rate effects, sales were 5.6 percent or €368.0 million higher than the previous year. Sales rose in all Business Groups. Consolidated profit ran at €478.3 million (previous year: €401.5 million), mainly as a result of market success and innovative products. As at December 31, 2014, the Freudenberg Group employed 40,456 people (previous year: 39,897 people).

The financial data are based on the pro-rata consolidation method (including the activities of the 50:50 joint ventures) which Freudenberg continues to use for the management of its operating activities. Under IFRS financial reporting standards, 50:50 joint ventures are consolidated by the equity method. This means sales and employee figures are not taken into consideration.

Overall, Freudenberg expects a successful year in 2015, with sales growth outpacing the market. The high quality of innovative products aimed specifically at meeting the needs of the Group`s customers, is expected to generate further growth in India.
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