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AAM Reports Record Results for 2017

Published on February 16, 2018

Diversification, sales and profit accelerate during the year

DETROIT – American Axle & Manufacturing (AAM) reported record sales and profitability and increased scale and accelerated business diversification for both fourth quarter and full-year 2017.

For fourth quarter 2017, AAM saw sales of $1.73 billion. This compares to $947 million for fourth quarter 2016. Adjusted EBITDA was $295.7 million of 17.1% of sales.

Non-GM sales in the fourth quarter of 2017 were $1.01 billion as compared to $323.0 million in the fourth quarter of 2016.

For full year 2017, AAM sales totaled a record $6.27 billion compared to $3.95 billion for full-year 2016. Adding in first quarter MPG sales before the acquisition, AAM proforma sales would top $6.9 billion for 2017.

Non-GM sales for full year 2017 were a record of $3.33 billion as compared to $1.29 billion for full year 2016.

AAM’s 2017 adjusted EBITDA was $1.1 billion or 17.6% of sales compared to $619.4 million or 15.7% of sales for full year 2016.

“Overall it was a very successful year for AAM,” said David C. Dauch, Chairman and chief executive officer. “As we have increased our size, scale and global presence, we continue to focus on delivering quality, technology leadership and operational excellence each and every day at every one of our facilities.”

During 2018, AAM will launch more than 50 major project and program launches for global customers including AAM’s first e-AAM electric and hybrid driveline program. The program includes front and rear e-Drive units on a fully electric, all-wheel-drive crossover vehicle.

AAM is also entering production on power transfer units featuring all-wheel-drive disconnecting technology on a global crossover vehicle platform. This is the company’s third EcoTrac customer since launching this innovative technology in 2013.

“As we look ahead to 2018, we expect another year of outstanding financial results, further integration and synergy attainment and exceptional support of our customers on numerous product launches,” Dauch said.

To read AAM’s 2017 financial results press release visit