Nexteer reports H1 revenues up 7%, operating profit up 17%

Yahoo

7 days ago

Steering systems specialist Nexteer Automotive has posted first half 2025 revenues of $2.2 billion, up 7% compared with the first half of 2024.
Nexteer said it continued growth momentum with China domestic OEMs (COEMs), with approximately US$0.6 billion, or 39%, of bookings generated by COEMs' business. Total bookings for 1H 2025 were US$1.5 billion.
"Nexteer continues to outperform the market by delivering innovation, securing strategic programs and investing in operational excellence, even amid ongoing volatility in global vehicle production," said Robin Milavec, President, Chief Technology Officer (CTO), Chief Strategy Officer (CSO), and Executive Board Director, Nexteer Automotive. "We remain confident in our ability to sustain momentum and deliver long-term value for our customers and stakeholders."
Adjusted EBITDA for the first six months of 2025 was US$230.4 million, an increase of US$33.1 million or 16.8% compared to the same period in 2024. The improved profitability was driven by higher volumes, enhanced efficiency and performance, the company said.
The company launched 31 new customer programs in H1, including its first dual-pinion electric power steering (DPEPS) program in China and first modular column-assist electric power steering (mCEPS) launch in Europe. Of these, 23 were new or conquest programs and 21 supported fully electric vehicle platforms.
Nexteer said it secured $1.5 billion in new customer program bookings during the first half. Of those, 74% represented new or conquest business and 39% were tied to fully electric vehicle platforms. EPS programs accounted for 69% of bookings, complemented by additional growth in driveline and rear-wheel steering. Bookings with China domestic OEMs totaled $599 million, reinforcing Nexteer's strong position in China with local OEMS, it said.
Nexteer also said it has advanced several global footprint initiatives to support growing customer demand and operational efficiency:
Opened a new manufacturing and testing facility in Changshu, China, in January. The facility supports Nexteer's leadership position in China and aligns with the country's New Quality Productive Forces initiative focused on high-end, intelligent manufacturing.
Broke ground on a new smart manufacturing facility in Liuzhou, China, to expand production capacity and strengthen support for domestic and global OEMs.
Continued transformation of the Saginaw, Michigan, site, including plant consolidation, real estate optimization and modernization of operations to reduce costs and support future growth.
"Our strong first-half performance reflects Nexteer's unwavering focus on delivering value through innovation, customer-driven solutions and operational excellence," said Milavec.
"Our new program launches, footprint investments, and technology advancements position Nexteer to meet evolving customer needs while strengthening our competitive edge across global markets."
"Nexteer reports H1 revenues up 7%, operating profit up 17%" was originally created and published by Just Auto, a GlobalData owned brand.
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