The German parts supplier MANN+HUMMEL has announced its financial statements for the first half of 2011, with sales increasing by two digits year-on-year.

In the first half of 2011, MANN+HUMMEL's sales increased by 20% year-on-year. Although material costs rose, MANN+HUMMEL’s EBIT remained high; the number of employees worldwide increased by 10% to 14,300.

Alfred Weber, chief executive of MANN+HUMMEL, stated: “We plan to reach the sales target of 3.4 billion euros in 2018. The strong growth in sales in the first half of 2011 shows that we are close to the target, despite the economic recession, currency instability and high The commodity prices may affect our sales in the second half of the year, but we expect to create new sales records this year."

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