Cummins Inc. announced on February 14, 2011 that thanks to strong growth in key international markets and improved efficiency in global production operations, the company’s sales and profits in the fourth quarter hit a record high, pushing up profits for the entire year of 2010. The best level.

In the fourth quarter, Cummins achieved sales of US$4.14 billion, an increase of 22% over the US$3.4 billion in the same period of 2009. EBIT was US$541 million, accounting for 13.1% of sales, which increased by 41% last year. Fourth-quarter net income also increased from $270 million (US$1.36 per share) in 2009 to US$362 million (US$1.84 per share).

Cummins achieved sales revenue of US$13.23 billion in 2010, an increase of 22% over 2009. EBIT was 1.66 billion U.S. dollars, an increase of 114% from 2009, and a 12.5% ​​pre-tax profit rate. The company's net income in 2010 was 1.04 billion US dollars (equivalent to 5.28 US dollars per share), while the net income in 2009 was 428 million US dollars ($ 2.16 per share).

In 2010, Cummins's annual sales were second only to the peak period in 2008, the second highest in history, but EBIT and net income both set a new historical record. The company's three divisions - the engine, components and distribution divisions have achieved record revenues, and the power division also achieved a significant increase in sales and profits compared to 2009.

The globalization of Cummins' business and the diversification of markets are the key to boosting its 2010 results. The North American heavy truck market continued to be weakened by the sluggish US economy and the newly introduced emissions regulations. North American heavy truck engine installed capacity decreased by 61% throughout the year, and the engine installed capacity in the China Card and passenger car markets also dropped by 44%. However, these market declines have been effectively offset by strong growth in international markets such as China, India and Brazil. This has benefited from the company's efforts to increase the efficiency of its global plant operations in the past two years.

Sales in China and Brazil have increased by more than 70%, and India has also achieved high growth of 37%. Cummins International's sales increased further, accounting for 64% of the company's total sales in 2010.

Cummins's performance in the Chinese market is eye-catching, with consolidated and unconsolidated sales exceeding US$3 billion. Among them, the joint ventures including Dongfeng Cummins, Chongqing Cummins, and Wuxi Cummins Turbocharged Technology Systems have performed particularly well, with both sales and shipments hitting record highs. In addition, in order to further enhance the service level of Cummins in China's post-market, Cummins has successfully opened 26 new customer support platforms across the country in 2010, which are closer to the target market and users, and injected new vitality into the distribution service network.

“2010 was the best year in Cummins history,” said Tim Solso, Cummins Chairman and Chief Executive Officer. “With the continued downturn in the North American automotive market, we are still able to achieve such good results. Our international strength also shows that our efforts in the economic downturn have paid off."

“Based on the good performance foundation we have laid, coupled with the expectation of the recovery of the North American market and the grasp of the global market opportunities, we believe that 2011 and future performance will continue to grow.”

Cummins expects sales in 2011 to increase to US$16 billion and achieve a pre-tax EBIT of 13.5%.

In addition, Cummins will continue to focus on investing in the future, in addition to plans to increase the global investment of 6 to 650 million US dollars for the sole proprietorship business, the joint venture company also expects an additional 300 million US dollars of capital to operate in order to expand its business volume.

“We are facing a lot of growth opportunities in the global market and are best prepared to take advantage of these opportunities,” said Tom Linebarger, president and chief operating officer. “We particularly expect the North American heavy truck market to usher in a major recovery. After all, Our new engine has performed very well in this market."

“In 2010, we provided 62,000 engines equipped with Selective Catalytic Reduction Systems (SCR) for the North American heavy truck market. The SCR system not only enables engines to meet more stringent US EPA emission regulations, but also improves fuel economy for customers. ."

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January 18, 2019