The ingrained ethos of putting customers at the heart of its business has powered AES Engineering Ltd to its 30th consecutive year of sales and profit growth.
Its annual results for the year to December 31 2012 show that the company, parent to the AESSEAL Group, pushed up sales during the year by 6.4%, to £131.9m. After allowing for acquisitions and exchange differences the company reports that like for like sales growth was a healthy 8.2%.
A global player, Yorkshire-based AESSEAL is the world’s fourth-largest designer and manufacturer of mechanical seals for a wide range of industries, including oil and gas, food, water, mining and pharmaceuticals. And even as it marks its continued growth, it is working on plans for further expansion.
The past year saw earnings before interest, tax, depreciation and amortisation (EBITDA) rise to £23.8m. Activities in its key strategic market of oil and gas also grew, by 26% in 2012, on top of the previous year’s 49%.
The group reports it has expanded in the UK and around the world, especially in emerging markets, that it is “well positioned to take advantage of the higher growth rates in markets outside of Europe and the USA” and will be continuing to strengthen its network wherever it sees opportunities for accelerated development, including sub-Saharan Africa and the Middle East. AES Engineering Ltd employs more than 1,600 people worldwide, of whom nearly 600 are in the UK and Ireland and more than 330 in Rotherham.
AESSEAL, whose Global Technology Centre HQ is in Rotherham, South Yorkshire, had net assets of £64,150,000, 17.2% up on 2011’s £54,727,000. It also increased the stock it holds to £25.3m, up 6.3% from 20011’s £23.8m, enabling it to give customers even faster service.
The group’s expanding pump business, Bedford-based AESPUMP, also made excellent progress, including acquisitions in Denmark and The Netherlands. Sales rose to £9.3m in 2012, an aggregate growth of 30% on 2011.
Stephen Shaw, group engineering director, said: “Our investment in research and development over the past five years has seen the product range develop more than any other seal company worldwide during that period.”
Group founder and managing director Chris Rea, OBE, said: “Over the past three years the group has continued to develop as a reliability-focused business, with exceptional sales growth of complementary products such as our bearing protection and seal support system ranges alongside emerging complementary services and consultancy support capabilities. In addition, our objective of offering a high-quality alternative for compressor dry gas mechanical seals is now a reality.
“The group’s purpose is to put customers at the heart of our business through providing exceptional customer service. Our customers have supported the expansion of our products, processes and the globalisation of our business. We believe this growth will continue in 2013 and beyond as long as we continuously improve every aspect of our business that brings a benefit to our customers.”