VMI parent group ahead at Q3

Haaksbergen, The Netherlands – Technology group TKH has reported year-on-year increases in third-quarter sales and earnings across its operations, which include tire & rubber machinery maker VMI.

A 9.8% rise in group earnings (EBITA) to €40 million on sales 4.0% higher at €389.5 million was despite higher operating expenses due to capacity expansions in tire manufacturing systems and other product areas.

VMI is part of TKH’s Industrial Solutions segment, which increased turnover by 5.9% year-on-year to €174.9 million. The unit posted an order-intake for tire manufacturing systems of €70 million in the third quarter.

“The outlook for full-year profit means that we can look forward to a good fourth quarter,” CEO Alexander van der Lof said of TKH’s group-wide performance.

“The order book is well filled and the progress we have made in positioning TKH in our vertical growth markets give us a solid basis for growth in 2019,” the CEO added in the 1 Nov trading update.