WABCO Holdings Inc.
NYSE : WBC

WABCO Holdings Inc.

April 14, 2016 06:30 ET

WABCO Wins Nearly $1 Billion in New Business in Past Four Quarters, Comprising $612 Million Through 2020 Inclusive; Reiterates Long Term Sales Growth Is Expected to Outperform Market Growth

BRUSSELS, BELGIUM--(Marketwired - April 14, 2016) - WABCO Holdings Inc. (NYSE:WBC) (www.wabco-auto.com), a leading global supplier of technologies that improve the safety, efficiency and connectivity of commercial vehicles, today disclosed that - from Q2 2015 to Q1 2016 - it has entered into contracts in local currencies with customers across the globe that total $918 million of expected cumulative incremental business. These awards include $612 million in new business to be realized from 2016 through 2020 inclusive.

These contracts represent new incremental business for WABCO that is separate from replacement and renewal of existing contracts. It comprises orders for WABCO products that improve vehicle safety and efficiency, mostly in vehicle dynamics systems, air management and vehicle electronic systems, transmission automation technologies, and electronic suspension and braking technologies on commercial vehicles as well as car components and systems. It also includes fleet management solutions that enhance connectivity between the truck, trailer, driver and fleet hub.

"These new contracts underline WABCO's continuing ability to generate sales growth that outperforms the commercial vehicle market relative to global truck and bus production," said Jacques Esculier, WABCO Chairman and Chief Executive Officer. "Indeed, two thirds of this new business is anchored in high-growth emerging economies such as China, India and Brazil where WABCO is solidly the market leader and increasingly augmenting WABCO content per vehicle."

"WABCO expects that its sales growth will continue to outperform global market expansion of new truck and bus builds on average above 8 percent through 2020 and beyond," said Esculier. "WABCO's differentiating strategies of technology leadership, globalization and excellence in execution continue to create further value for customers - original equipment manufacturers and fleet operators alike - in mature as well as emerging markets."

About WABCO

WABCO (NYSE:WBC) is a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles. Founded nearly 150 years ago, WABCO continues to pioneer breakthrough innovations for advanced driver assistance, braking, stability control, suspension, transmission automation and aerodynamics. Partnering with the transportation industry as it maps a route toward autonomous driving, WABCO also uniquely connects trucks, trailers, drivers, cargo, and fleet operators through telematics, as well as advanced fleet management and mobile solutions. WABCO is regularly recognized among "the best of the best" companies. Forbes named WABCO "America's Best-Managed Capital Goods Company." For four consecutive years, Institutional Investor named WABCO among the "Top 3" in its sector for "Best CEO." WABCO reported sales of $2.6 billion in 2015. Headquartered in Brussels, Belgium, WABCO has 12,000 employees in 39 countries. For more information, visit www.wabco-auto.com.

Forward-Looking Statements

This document contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995 that are based on management's good faith expectations and beliefs concerning future developments. Statements preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "strategies," "prospects," "intends," "projects," "estimates," "plans," "may increase," "may fluctuate," and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could" are generally forward looking in nature and not historical facts. Actual results may differ materially from these expectations as a result of many factors. These factors include, but are not limited to, the actual level of commercial vehicle production in our end markets, adverse developments in the business of our key customers, pricing changes to our supplies or products, our ability to successfully integrate any acquired businesses or our acquired businesses not performing as planned, the outcome of any appeal by Belgium and/or the company of the European Commission's decision to invalidate the Excess Profit Ruling Program, and, if the decision is not overturned, the methodology the Belgian tax authority employs to calculate the amount of the clawback, the company's ability to claim alternative tax relief for prior and current periods, or the success of any other avenues the Company pursues to mitigate the impact of the European Commission's decision, and the other risks and uncertainties described in the "Risk Factors" section and the "Information Concerning Forward Looking Statements" section of WABCO's Form 10-K, as well as in the "Management's Discussion and Analysis of Financial Condition and Results of Operations - Information Concerning Forward Looking Statements" section of WABCO's Form 10-Q Quarterly Reports. WABCO does not undertake any obligation to update such forward-looking statements. All market and industry data are based on company estimates.

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