WABCO's 2010 sales reached US$491 million in the first quarter

WABCO Holdings Inc. recently announced its first-quarter sales of $491 million in 2010, a 47% increase over the same period last year. For example, based on the local exchange rate, its sales increased by 36% year-on-year.

Other major financial data of WABCO in the first quarter of this year are:

The operating profit was 43.1 million U.S. dollars and the operating loss was 30 million U.S. dollars in the same period of last year;

The operating profit margin was 8.8%, compared with 9.0% in the same period last year;

EBIT was US$38.7 million, a loss of US$36.3 million before the EBIT for the same period last year;

The net profit was 30.7 million US dollars, compared with a net loss of 36.4 million US dollars in the same period last year.

“The commercial vehicle market is gradually recovering. Although, as we expected, the situation in major global markets is not the same, the market in Asia and South America continues to show high growth. In fact, 75% of global truck and passenger car production came from the first quarter of this year. China, India and Brazil," said Jacques Esculier, chairman and chief executive of WABCO.

Esculier further stated that “in the first quarter, WABCO’s two-thirds of the supporting market business came from the Asian and South American markets, and our sales growth benefited from the rapid growth of emerging markets such as China, India and Brazil.”

In addition, he also stated that WABCO's growth in the global aftermarket is also a major reason for its sales growth. In the first quarter, its aftermarket business grew by 27% year-on-year.

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