Superior Industries International, a supplier of aluminum wheels for OEMs reported significantly improved financials for the fourth quarter of 2017.
Global net sales for the quarter were $361.8 million as compared to $188.3 million for the same quarter in 2016.
“2017 was a transformational year for Superior, as we established our company as one of the largest aluminum wheel suppliers globally through our acquisition of UNIWHEELS AG, which changed the long-term trajectory of our business. Today, Superior is more diversified, by geography, customer and product, and is leveraging a common culture of innovation to capitalize on attractive secular trends,” said Don Stebbins, president and chief executive officer. “In 2017, we increased value-added sales by 51 percent and Adjusted EBITDA by 58 percent year-over-year. As we look forward, we see significant improvement opportunities ahead of us. We continue to make strides in building a best-in-class organization with a commitment to operational excellence and ongoing investment in new technology and capabilities in anticipation of our customers’ needs. We believe we are well positioned to drive increased value for all of our stakeholders.”
For the complete year, wheel unit shipments were 17 million for 2017, compared to unit shipments of 12.3 million in 2016.
Net sales for 2017 were $1,108.1 million, compared to net sales of $732.7 million in 2016. Gross profit for 2017 was $102.9 million compared to $86.2 million in the previous year.