[Stockholm, 11 July 2019] - Annualised series production reached 3.4 million Engine Equivalents in the second quarter of 2019, surpassing the previous record of 3.1 million Engine Equivalents set in the first quarter. Following two consecutive quarters of record series production, the annualised series production for the first half of 2019 is 30% above the 2018 full-year production volume. The positive trend in the series production peaked during the month of May, reaching the new annualised record level of 3.5 million Engine Equivalents. The full-year outlook remains positive, with strong demand for SinterCast-CGI diesel engines used in Ford and Ram pick-up applications, and continued strong demand for commercial vehicle production.
Benefitting from additional revenue derived from Tracking Technologies, installation revenue after the second quarter reached SEK 7.1 million, surpassing the historical full-year average of approximately SEK 6.5 million. The strong installation result includes the first full installation of the Cast Tracker technology at the Tupy foundry in Mexico and the first Ladle Tracker installation for ductile iron production at the Poitras foundry in Canada. Additional revenue was derived from Mini-System 3000 installations at the China Shipbuilding Industries Corporation foundry for industrial power components in China and at the Kimura rapid prototyping foundry in the United States; and from capacity and functionality upgrades of existing System 3000 installations.
"Following year-on-year growth of 24% from the first-half of 2017 to 2018, we have now achieved 25% year-on-year growth in the first half of 2019. The record production of 3.4 million Engine Equivalents in the second quarter validates the gains made over the last two years, and reinforces the current level as our new normal" said Dr. Steve Dawson, President & CEO of SinterCast. "The second quarter was particularly busy for SinterCast, with four installations in the field and the equipment builds for the GIFA world foundry trade fair in June. With a strong installation start in the first half of the year, and with ongoing discussions and new leads established at GIFA, we look forward to adding to the installation revenue in the second half of the year."
Series production continued to grow in the second quarter, reaching an annualised record of 3.4 million Engine Equivalents for the quarter, providing 30% growth compared to full-year 2018. Series production reached the new all-time high of 3.5 million Engine Equivalents in May.
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