Output and profitability at Schrader Electronics in the year to December 2017 was lower than in 2016. However, the company continues to operate successfully with manufacturing units in Antrim and Carrickfergus.
Until September 2010, Schrader was a wholly owned subsidiary of Tomkins plc, registered in England, which was then purchased by the Dutch registered Pinafore Cooperatief UA. In October 2014, ownership passed to Sensata Technologies, also in the Netherlands. Then in March 2018, the parent company transferred its registration back to the UK as Sensata Technologies Holdings plc.
In the last three years, production revenue has stabilised, after some years of rapid growth. Operating and pre-tax profits, whilst still significant, have fallen back from the peak levels recorded in 2015.
The business of the company is the de- velopment and manufacture of remote tyre pressure monitoring systems for vehicles and other electronic sensing technologies for the automotive industry.
In 2017 there was a small fall in turnover. This £6m reduction was a consequence of a £39m fall in sales to the United States largely offset by increased sales in other markets.
Expenditure on research and development continues at a high level. In 2017, R&D spending rose to £18.4m from £17.1m a year earlier.
The balance sheet value of shareholders’ funds rose sharply in each recent year. At the end of 2017, as the accumulation of retained post-tax profits were added to reserves, they reached nearly £224m. No dividends were paid to shareholders during the year.
Capital spending in 2017 fell to £5.2m from the record level of £17.3m in 2016.
The average number of employees in 2017, at 1,387, was slightly lower than a year earlier.
The company is an award-winning business for health, safety and environmental management.