CFO Emese Weissenbacher was satisfied with the annual result overall: "As announced last year, we were able to increase turnover and especially earnings over the course of 2017." EBIT rose by EUR 69 million to EUR 185.1 million. As in the previous year, the 2017 financial year was also influenced by significant one-off effects from impairments and structural measures.

"We develop and manufacture pioneering technologies for people's health and mobility. The sharp focus on the company's core competence helps here: filtration. Filtration separates the useful from the harmful and is a key technology. This applies not only to numerous technical and industrial applications, but also to clean air and pure water," said Kai Knickmann, Managing Director of Original Equipment, when presenting the figures for the 2017 financial year in Ludwigsburg on Tuesday. "The automotive and mechanical engineering industries are undergoing a profound process of change. The same applies to our business model. The drivers are alternative transport solutions, digitalization and the growing importance of sustainability. Rarely has it been more interesting and promising to help shape the mobility and industry of the future," he added.

In 2017, Mann+Hummel employed an average of 20,535 people at all locations. In order to do even better justice to the highly dynamic nature of the automotive industry, Mann+Hummel intends to step up project-related collaboration within the Group: "We are strengthening the use of cross-divisional teams with a high degree of independence in decision-making and collaboration. We are working even more closely and at an earlier stage with our customers and suppliers in order to bring attractive products into series production much more quickly. However, this also means abandoning a project quickly if expectations cannot be met. With this mindset, a start-up culture is also possible in a corporate group." One example is the "Feinstaubfresser" project, in which colleagues from different departments work together on an interdisciplinary basis, free from existing structures.

Research and development

In 2017, the Group invested 133 million euros in research and development According to Knickmann, the aim is to remain a leader in filtration, whether in the automotive, life sciences or environmental technology sectors.

"The digitalization of the value chain and the changes in drive systems are driving an exciting development," says Knickmann. "This will result in new and interesting business areas for our company." However, a technological leap in battery technology is still needed for the big breakthrough. Even in ten years' time - in relation to the total number of vehicles on the road - less than five percent of vehicles will probably still be purely electrically powered. "Every drive technology needs filtration," says Knickmann. "We stand for diversity and openness to technology. Anyone who seamlessly switches from the monoculture of the combustion engine to a monoculture of electric drives is blocking great potential and future opportunities that we cannot even foresee today."

Mann+Hummel already offers a broad portfolio of products for alternative drives. The range is constantly being expanded to include new applications for the filtration of air and water. Since January 2018, the company has been systematically focusing its business model on the two market segments of Transportation and Life Sciences & Environment.

Outlook for the year 2018

Emese Weissenbacher believes that the filtration company is ideally equipped for the future: "Mann+Hummel is financially sound and technologically strong. We are taking a focused approach and pursuing a clear strategy. In 2017, we successfully completed the acquisition of Wix-Filtron and fully integrated the division into the Group. Wix-Filtron has met our expectations and massively strengthened our position in the American spare parts business in particular."

The earnings margin should improve further in 2018. Overall, the company expects sales growth in the mid-single-digit percentage range and a slightly positive margin trend. The operating margin (EBIT) would also be in the mid single-digit percentage range. kp