MAHLE has steered through 2020 with resilience.
Thanks to a strong second half, the Group was able to partially compensate for the severe spring sales slumps and to generate sales of about EUR 9.8 billion. That represents a fall of 16.7% compared to 2019, as a result of COVID-19.
Adjusted for negative exchange rate effects, business in China grew by almost 4% compared with the previous year.
In a challenging environment, MAHLE won many orders for products in its strategic future-oriented areas of activity.
“MAHLE is a healthy company with sound financing. We steered a clear, strong course through the special year of 2020.”
Despite the COVID crisis, we generated strong cash flow, reduced our debt and closed the year positively in operational terms,” says Michael Frick, Chairman of the MAHLE Group Management Board (ad interim) and CFO.
“2021 started well and we have the clear objective of significantly boosting our sales and recording positive results for the year. In these efforts, we are guided by strict cost and cash discipline.“
Technological transformation
Despite the challenging environment, the Group laid firm foundations for the expansion of its product portfolio and development competencies. The main focus was on hydrogen and e-mobility.
In 2020, the Group developed two standardized air filter solutions for fuel cells. With this new, modular approach, MAHLE will significantly reduce development times and costs giving fuel cell technology a noticeable boost toward suitability for large-scale production.
In e-mobility, MAHLE has been enabling the faster charging of the traction battery of hybrid and electric vehicles.
MAHLE also expanded its network of global competence centres for e-mobility. A new global development centre for mechatronics and electronics was also established, as well as a new test rig for testing and developing electric axles and drive units.
“MAHLE is a modern technology group. In the field of alternative drive systems, we won orders for electric drive motors for two-wheelers and passenger cars, power electronics, battery cooling systems, as well as electric compressors and water pumps. In traditional business areas, demand for internal combustion engine products continues at a high level,” says Michael Frick.
Responsibility
MAHLE also expanded its training program last year and adapted it to changing conditions—i.e. introducing virtual learning meetups, toolboxes and digital learning platforms.
The Group has intensified its efforts to make its production processes and operational procedures more environmentally sustainable.
MAHLE is committed to the Paris Agreement. By 2040, the Group intends to become carbon-neutral in accordance with Scopes 1 and 2 of the Greenhouse Gas Protocol.
