Detroit-based American Axle & Manufacturing Holdings Inc., a Tier 1 automotive supplier of driveline and drivetrain systems, today reported sales of nearly $4 billion in 2015 with earnings of $236 million, a 64 percent increase compared to $143 million in 2014.
"On the strength of North American light vehicle production volumes, and our solid operational performance, American Axle achieved record sales and record gross profit for the year," says David Dauch, chairman and CEO of American Axle. "We also made measurable progress in diversifying our business and improving our capital structure."
Dauch says net sales for 2015 increased by nearly 6 percent to $3.9 billion when compared to $3.7 billion in 2014. He says American Axle's gross profit in 2015 increased 21.5 percent to more than $635 million compared to nearly $523 million in 2014. Gross margin was about 16 percent in 2015 compared to 14 percent in 2014.
In 2015, American Axle was selected as the target supplier to provide axles and driveshafts for General Motors' next generation full-size truck program.
"As we look ahead to 2016 and beyond, we remain focused on advancing our technology leadership in order to capitalize on major industry trends and drive profitable growth and business diversification," Dauch says.
American Axle, founded in 1994, has about 13,500 employees working in more than 30 locations in 13 countries.