On July 25, BorgWarner announced financial reports for the second quarter and first half of 2013. As demand for parts and components products increased in the global market, the company’s second-quarter net profit surged by more than 40% year-on-year, and this year The full-year profit forecast has been raised.
In the second quarter of this year, BorgWarner's operating income reached US$1.89 billion, up 2% year-on-year. The company’s second-quarter net profit surged from US$120 million in the same period last year to US$170 million, a year-on-year increase of 44%.
The operating revenue of the BorgWarner Engine Group business unit reached US$1.29 billion in the first quarter, up nearly 4% year-on-year, mainly due to the increase in sales of turbochargers, EGR coolers, and engine timing systems in China and Brazil. . The adjusted EBIT before the division reached US$220 million, a year-on-year increase of 5%.
In the second quarter, the operating income of the Transmission Systems Group Business Unit rose by nearly 2% to US$610 million. This increase was mainly due to the increase in demand for all-wheel drive systems and transmission components in North America and South Korea. The adjusted EBIT was US$60 million, up 10% year-on-year.
From the perspective of the overall performance in the first half of the year, BorgWarner’s operating revenue totaled US$3.75 billion, which is still 0.6% lower than the US$3.77 billion in the first half of last year; and its net profit has increased from US$280 million in the same period last year to US$320 million, which represents a year-on-year increase. 11.1%.
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