SMC grows European market share
SMC Corporation announces its fifth year of consecutive sales growth for its European business, posting a 6.3% increase to deliver annual net sales of €745.87 million.
During FY18, European sales accounted for 16.6% of SMC’s total global net sales of 576,948 B.Yen.
This was driven by steady demand from a wide range of industries, including food and medical equipment as well as growth in semiconductors and automobiles.
The company also delivered a 9% increase in European operating profit, from €64 million in FY17 to €70.8 million. Market share increased in Europe and globally by 1 point to 22 and 37 respectively.
To meet steady demand, SMC continues to invest in its European and global production facilities and now has a strong presence in over 33 countries and a expert team of circa 20,000 people.
Capital expenditure is due to increase to 31.9 B.Yen (248.36 million € ), an increase of +35% compared to FY18, while two new factories are under construction to meet international demand for SMC’s products, including a second factory in Ho Chi Minh, Vietnam and a first in the northeastern Chinese port city of Tianjin.
As a global player with a strong regional network, SMC has used its expertise to develop solutions that respond to current trends toward IoT, Smart Factories, Cloud Computing and the 5G technology revolution.
Its commitment to supporting environmental change is reflected in continued Research & Development (R&D) investment in energy, resource and space saving product ranges, with an additional 6% allocated to R&D during the last financial year (20.2 BillionYen).
The company also continues to focus on developing its infrastructure and its people to deliver outstanding technical solutions and customer service.
Foreign currency exchange rate applied: 1 Euro – ¥ 128.44 (average rate FY 18 – As per in Consolidated Financial figures published by the Corporation, May 22, 2019). 2019-06-24