Milwaukee, United States – Automotive components maker Johnson Controls (JC) is expecting announce consolidated net sales of $43.8bn (EUR 60.1bn) this year – a 3% increase on 2012.
The company said it had seen sales and income increases in its automotive, construction and power solutions segments.
CEO Alex Molinaroli said the company is ‘focused on market leadership in our core businesses and driving sustainable performance where we believe we can win."
"This is reflected in our expectations for a successful 2014 as well as the positive outlook we have provided through 2018,” he added.
He pointed to China’s potential to provide opportunity across all of the company's businesses and said the country’s markets represented more than $8bn in JC’s annual revenues during 2013, including the company's non-consolidated joint ventures. A new corporate HQ is currently being constructed in Shanghai.
In a statement the company said it expected an 11% automotive production growth rate in China but only a 2% increase on 2013 for the European automotive market and a 6% increase for North America.
In terms of the company’s predictions up to 2018, it said it expected higher revenues in building efficiency, which are expected to increase 5 to 6% annually as global markets recover.
XE Currency Conversion - January 2, 2014