ACE Automotive Component Europe

Dynamic long-term growth of the ACE Group was not very much disturbed last year . In 2009 the ACE Group achieved EUR 77.1 million of sales, representing decline of 18.3% comparing with 2008 mainly due to a financial crisis having a strong impact on the automotive sector those days. But we maintained or even improved our strong market position in both products dedicated for the braking systems. In case of iron anchors ACE was keeping its dominating over 40% market share in Europe being unquestionable number one supplier of these parts. In case of aluminium calipers we improved our market share up to over 35% (from around 30% in 2008) maintaining our importance as the second largest supplier.

The ACE Group enjoys  competitive  profit margins reflecting its high specialization and strong market position. Despite the slowdown period we managed to slightly improved our EBITDA in 2009 (operating profit plus amortisation) to the level of EUR 10.1 million (margin 13.1%), and maintain an operating profit at a stable level of EUR 4.3 million (margin 5.6%).

Financial forecasts. Due to general automotive market slowdown and its high volatility in 2009 it is still far away from stability. Thus ACE is not going to disclose any official performance forecasts nor guidelines for 2010. But ACE intends to maintain its strong leading position on the market for cast iron and aluminium components for automotive braking systems in 2010 as well as in future.

Year 2010 is very important from the future long term business perspective. In 2009, and despite the market slowdown, we managed to add two new products to our products/services portfolio.  Successful start of production of the TMC project in 2008 was followed by a front calliper production in late 2009 and iron machining. All of these actions will lead to further increase of generated sales and margins in future and will allow ACE to offer a complete range of casted products and services.