August 9, 2023, Guelph, Ontario, Canada (TSX: LNR)
- Normalized Earnings per Share1 up 55.4%;
- Sales up 28.8% to $2.55 billion, a new record for a quarter;
- Diversified strategy validated with Industrial earnings tripling over prior year, anchoring solid overall performance;
- Normalized Operating Earnings1 up 54.7%;
- New business wins take launch book to nearly $4.5 billion;
- 58% of wins for electrified vehicles (“EV”);
- Sales up 54.0% for Industrial due to strong markets in both agricultural and access equipment and solid market share growth notablyin our core agricultural products;
- Sales up 20.2% for Mobility driven largely by launching programs;
- Acquisition of Dura Shiloh’s battery enclosure business closed and will drive strong battery electric vehicle CPV growth;
- Linamar Structures Group created to drive rapidly growing propulsion agnostic business; and
- Propulsion agnostic and electrified vehicle sales nearly 60% of Mobility footprint inside of next 4 years.