WABCO Holdings Inc., a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles, has disclosed that - from Q2 2017 to Q1 2018 - it has entered into contracts in local currencies with customers worldwide that total $745 million of expected cumulative incremental business. These awards specify $502 million in new business earmarked from 2018 through to 2022 inclusively.
Representing new incremental business for WABCO, these contracts are separate from revenues gained from the replacement and renewal of existing contracts. It comprises orders for WABCO products that improve vehicle safety, efficiency and connectivity, including actuators and air disk braking solutions, steering technologies, electronic suspension systems, transmission automation and industry-leading fleet management solutions that provide advanced connectivity between trucks, trailers, drivers and fleet managers.
"These new contracts underline WABCO's continuing ability to generate sales growth that outperforms the commercial vehicle market relative to global truck and bus production," says Jacques Esculier, WABCO Chairman and Chief Executive Officer. "With new business wins totaling more than $500 million over the next 5 years, and building on $3.2 billion of cumulative new business wins announced since 2014, WABCO expects to continue to outperform the market within the 6-10% range.
"We are relentlessly focused on sustaining WABCO's outperformance commitment through our strategy of technology leadership, globalization and excellence in execution," adds Esculier. "WABCO's future new business wins will also be further powered by our recent strategic acquisitions combined with increasing technology penetration globally. This includes higher demand for WABCO content onboard vehicles in fast-growing emerging economies such as China, India and Brazil where WABCO is the firm market leader and where almost half of this new business over the next five years is anchored."
WABCO will hold its Q1 2018 earnings conference call at 9:00a.m. Eastern Time on Thursday, April 19, 2018. The call will be webcast at www.wabco-auto.com where the press release and financial information will be available under "WABCO Q1 2018 Results."
