Linamar’s fourth quarter results marked the 9th consecutive record breaking year of double digit earning growth.
Sales for the Canadian automotive parts manufacturer increased 10 per cent over the fourth quarter of 2017 to hit $1.7 billion.
“We are thrilled to deliver another record year at Linamar,” said Linamar CEO Linda Hasenfratz. “2018 was our 9th consecutive year of double digit earnings growth, a record we are very proud of! We continue to see record levels of opportunity and market share growth in our transportation business thanks to evolving technologies so well aligned to our capabilities, Skyjack continues to grow through product and geographic expansion, and MacDon is performing strongly as well. We are confident in our ability to continue to drive growth at Linamar as we have so consistently done over the past decade.”
Of particular note was the product sales increase in its industrial segment area, which jumped almost 70 per cent to $343.4 million in Q4 2018 when compared to $145.2 million in in Q4 2017. The increase was related to the company’s MacDon acquisition, strong market share gain for scissors and “a favourable impact on sales from the changes in foreign exchange rates from Q4 2017.”