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Linamar Hungary Q4 revenue rises, after-tax losses decrease

Farm machinery manufacturer and automotive industry supplier Linamar Hungary generated turnover of HUF 7.15 billion in the fourth quarter of 2010, up 65.5% yr/yr, sustaining after-tax losses of HUF 463 million during the quarter, down from after-tax losses of HUF 525 million in Q4 of the previous year, the company announced in its unaudited IFRS report for the period of Friday evening.

Linamar Hungary had revenue of HUF 28.06 billion for all of 2010, up 22.5% yr/yr, posting after-tax profit of HUF 148 million for the year, down 55.1% yr/yr.  Linamar generated 77% of the company's 2010 revenue from its automotive-industry branch and 23% of the company's revenue from its farm-machinery branch.

Export revenue grew HUF 4.5 billion to HUF 23.3 billion in 2010. The company's operating profit dropped 13.6% to HUF 389.7 million in 2010. EPS was HUF 17 in 2010, compared to HUF 38 in 2009. Canada's Linamar Corporation owns more than 99% of Linamar Hungary. Linamar Hungary's shares trade in the A-category at the Budapest Stock Exchange.