GKN reports record sales of over £10 billion for full year 2017

February 28, 2018

February 28, 2018

GKN reports record sales of over £10 billion in 2017

PM parts in production at GKN Powder Metallurgy (Courtesy GKN plc)


GKN plc has reported record sales for its full-year 2017 results. The global engineering group’s sales were up 11% at £10,409 million, the first time the group has exceeded £10 billion. Excluding the £112 million North American Aerospace balance sheet review adjustments, operating profit (management basis) was reported to be £774 million (2016: £773 million). Including the adjustment, operating profit (management basis) across the group was £662 million, a 14% drop on the previous year.

“GKN has fantastic businesses which have grown organically above our key markets, demonstrating once again our strong positions and leading technology,” stated Anne Stevens, Chief Executive of GKN. The group’s Powder Metallurgy division, incorporating its Sinter Metals and Hoeganaes businesses, reported organic sales growth of 5% and a trading margin of 10.6% (2016: 11.4%), principally reflecting higher raw material surcharges and the division’s investment in high-end powder capability in China.

It was stated that GKN Powder Metallurgy’s trading margin is expected to show steady progression in 2018 and 2019 as it works towards achieving its 2020 target of at least 11%. Operating cash flow is expected to remain strong.

Commenting on its plans to split the Aerospace and Driveline businesses, GKN stated that it is in the process of separating operationally and that the board has determined to formally separate GKN Aerospace and GKN Driveline into two listed companies via a demerger. The aim is to complete the demerger in the middle of 2019, creating two companies able to support their share of the group’s pension liabilities. The basis on which to progress these discussions has been agreed with the UK Pension Trustees.

As previously reported, GKN plans to proceed with the sale of GKN Powder Metallurgy, and it was stated that this and other divestments are expected to be completed within 12-18 months.


February 28, 2018

About Metal Additive Manufacturing magazine

Metal AM magazine, published quarterly in digital and print formats, is read by a rapidly expanding international audience.

Our audience includes component manufacturers, end-users, materials and equipment suppliers, analysts, researchers and more.

In addition to providing extensive industry news coverage, Metal AM magazine is known for exclusive, in-depth articles and technical reports.

Our focus is the entire metal AM process from design to application.

Each issue is available as an easy-to-navigate digital edition and a high-quality print publication.

In the latest issue of Metal AM magazine

Download PDF

Extensive AM industry news coverage, as well as the following exclusive deep-dive articles:

  • BMW Group: Laying the foundations for the application of metal Additive Manufacturing in the automotive industry
  • Predicting the metal Additive Manufacturing market – and breaking the hype cycle
  • China’s thriving metal Additive Manufacturing industry: An outsider’s perspective
  • Enhancing the productivity of Additive Manufacturing facilities through PBF-LB automation
  • Award-winning metal AM parts from the MPIF’s 2024 Design Excellence Awards
  • Performance of eddy currents for the in-situ detection of defects during PBF-LB metal AM

The world of metal AM to your inbox

Don't miss any new issue of Metal AM magazine, and get the latest industry news. Sign up to our twice weekly newsletter.

Sign up

Looking for AM machines, metal powders or part manufacturing services?

Discover suppliers of these and more in our comprehensive advertisers’ index and buyer’s guide, available in the back of Metal AM magazine.

  • AM machines
  • Process monitoring & calibration
  • Heat treatment & sintering
  • HIP systems & services
  • Pre- & post-processing technology
  • Powders, powder production and analysis
  • Part manufacturers
  • Consulting, training & market data
View online

Discover our magazine archive…

The free to access Metal Additive Manufacturing magazine archive offers unparalleled insight into the world of metal Additive Manufacturing from a commercial and technological perspective through:

  • Reports on visits to leading metal AM part manufacturers and industry suppliers
  • Articles on technology and application trends
  • Information on materials developments
  • Reviews of key technical presentations from the international conference circuit
  • International industry news

All past issues are available to download as free PDFs or view in your browser.

Browse the archive

Share via
Copy link
Powered by Social Snap