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Affinia Group Intermediate Holdings Inc. (AFN) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Affinia Group Intermediate Holdings Inc.

CIK: 1328655 Ticker: AFN

Exhibit 99.1

 

LOGO

For Immediate Release

Contact: Scott Howat

Director of Global

Communications

Affinia Group Inc.

(734) 827-5421

AFFINIA GROUP ANNOUNCES FINANCIAL RESULTS FOR FOURTH

QUARTER AND FULL YEAR 2012

COMPANY TO HOLD CONFERENCE CALL AND WEBCAST ON MARCH 15TH

ANN ARBOR, MICHIGAN, March 14, 2013

– Affinia Group Inc., an innovative global leader in the design, manufacture, distribution and marketing of industrial grade products and services, today reported its financial results for the fourth quarter and full year ended December 31, 2012.

As announced earlier, the Company distributed its brake business to its shareholders in the fourth quarter of 2012. As a result, the financial performance of these entities is reflected in discontinued operations for financial reporting purposes.

Full Year 2012

Excluding unfavorable currency translation effects, year-over-year consolidated net sales improved by $63 million. On an as-reported basis, full year 2012 consolidated net sales decreased by $25 million to $1.45 billion, as compared to $1.48 billion for full year 2011, representing a 2 percent decrease in net sales versus last year. Lower currency exchange rates, primarily related to the Polish Zloty and Brazilian Real, reduced reported sales by $88 million, which was partially offset by increased sales to new and existing customers.

Filtration products net sales were $831 million in 2012, a $30 million increase as compared to 2011. The 4 percent improvement was attributable to $49 million of increased sales to new and existing customers, which was partially offset by $19 million of unfavorable currency translation effects, primarily due to depreciation of the Polish Zloty.

Affinia South America products net sales, excluding unfavorable translation effects, rose by $30 million. Reported net sales, including unfavorable translation effects, declined by 8 percent to $430 million in 2012 as compared to $469 million in 2011. Substantial currency depreciation of South American currencies, primarily the Brazilian Real, accounted for a year-over-year net sales decline of $69 million, which was partially offset by net sales improvement due to price increases on certain products and new business in our distribution and shock absorber operations.

Chassis product net sales declined by $19 million, or 9 percent in 2012, to $194 million from $213 million in 2011. The decrease in sales was attributable to significant initial order fulfillments recognized in 2011, whereas 2012 sales represented a more normal run rate for the new business.


The following information was filed by Affinia Group Intermediate Holdings Inc. (AFN) on Thursday, March 14, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (loss)
Consolidated Statements Of Operations
Consolidated Statements Of Shareholder's Equity
Consolidated Statements Of Shareholder's Equity (parenthetical)
Accounts Receivable Factoring
Accounts Receivable Factoring - Additional Information (detail)
Acquisition
Acquisition - Additional Information (detail)
Asset Retirement Obligations
Asset Retirement Obligations - Additional Information (detail)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Commitments And Contingencies - Schedule Of Future Minimum Rental Commitments Under Non-cancelable Operating Leases In Continuing Operations (detail)
Debt
Debt (tables)
Debt - Additional Information (detail)
Debt - Schedule Of Debt (detail)
Debt - Schedule Of Debt (parenthetical) (detail)
Debt - Schedule Of Fair Value Of Debt, Net Of Discount (detail)
Debt - Schedule Of Fair Value Of Debt, Net Of Discount (parenthetical) (detail)
Debt - Schedule Of Interest Rate And Fees (detail)
Debt - Scheduled Maturities Of Debt (detail)
Debt - Summarizes Deferred Financing Activity (detail)
Derivatives
Derivatives (tables)
Derivatives - Additional Information (detail)
Derivatives - Notional Amount And Fair Value Of Outstanding Currency Forward Contracts (detail)
Derivatives - Schedule Of Forward Contract Currency Gains And Losses (detail)
Discontinued Operation
Discontinued Operation (tables)
Discontinued Operation - Brake - Additional Information (detail)
Discontinued Operation - Brake - Schedule Of Assets And Liabilities Held For Sale (detail)
Discontinued Operation - Brake - Summary Of Net Sales, Loss Before Income Tax Provision, Income Tax Provision, Loss From Discontinued Operations, Net Of Tax, Net Income Attributable To Noncontrolling Interest, Net Of Tax And Loss Attributable To The Discontinued Operations (detail)
Discontinued Operation - Quinton Hazell - Additional Information (detail)
Discontinued Operation - Quinton Hazell - Summary Of Net Sales, Loss Before Income Tax Provision, Income Tax Provision And Loss From Discontinued Operations, Net Of Tax (detail)
Financial Information For Guarantors And Non-guarantors
Financial Information For Guarantors And Non-guarantors (tables)
Financial Information For Guarantors And Non-guarantors - Additional Information (detail)
Financial Information For Guarantors And Non-guarantors - Guarantor Condensed Consolidating Balance Sheet (detail)
Financial Information For Guarantors And Non-guarantors - Guarantor Condensed Consolidating Cash Flow Statement (detail)
Financial Information For Guarantors And Non-guarantors - Guarantor Condensed Consolidating Statement Of Comprehensive Income (detail)
Financial Information For Guarantors And Non-guarantors - Guarantor Condensed Consolidating Statement Of Operations (detail)
Goodwill
Goodwill (tables)
Goodwill - Additional Information (detail)
Goodwill - Summary Of Goodwill Activity (detail)
Goodwill - Summary Of Goodwill Activity (parenthetical) (detail)
Income Tax
Income Tax (tables)
Income Tax - Additional Information (detail)
Income Tax - Components Of Income (loss) Before Income Tax, Equity, Net Of Tax And Noncontrolling Interest (detail)
Income Tax - Schedule Of Components Of Income Tax Provision (benefit) (detail)
Income Tax - Schedule Of Deferred Tax Assets And Liabilities (detail)
Income Taxes - Schedule Of Reconciliation Of Effective Income Tax Rate (detail)
Income Taxes - Summary Of Unrecognized Tax Benefits (detail)
Inventories, Net
Inventories, Net (tables)
Inventories, Net - Summary Of Inventories (detail)
Inventories, Net - Summary Of Inventories (parenthetical) (detail)
Joint Venture Acquisition - Additional Information (detail)
Organization And Description Of Business
Organization And Description Of Business - Additional Information (detail)
Other Accrued Expenses
Other Accrued Expenses (tables)
Other Accrued Expenses - Schedule Of Other Accrued Expenses (detail)
Other Accrued Expenses - Schedule Of Other Accrued Expenses (parenthetical) (detail)
Other Accrued Expenses - Schedule Of Reconciliation Of Changes In Return Reserves (detail)
Other Accrued Expenses - Schedule Of Reconciliation Of Changes In Return Reserves (parenthetical) (detail)
Other Intangible Assets
Other Intangible Assets (tables)
Other Intangible Assets - Additional Information (detail)
Other Intangible Assets - Other Intangible Assets (detail)
Other Intangible Assets - Other Intangible Assets (parenthetical) (detail)
Property, Plant And Equipment
Property, Plant And Equipment (tables)
Property, Plant And Equipment - Additional Information (detail)
Property, Plant And Equipment - Schedule Of Property, Plant And Equipment (detail)
Related Party Transactions
Related Party Transactions - Additional Information (detail)
Restructuring Of Operations
Restructuring Of Operations (tables)
Restructuring Of Operations - Additional Information (detail)
Restructuring Of Operations - Schedule Of Restructuring Charges And Activity (detail)
Restructuring Of Operations - Schedule Of Restructuring Charges And Activity (parenthetical) (detail)
Restructuring Of Operations - Schedule Of Restructuring Expenses By Segment (detail)
Schedule Ii - Valuation And Qualifying Accounts (detail)
Schedule Ii - Valuation And Qualifying Accounts (parenthetical) (detail)
Schedule Ii-valuation And Qualifying Accounts
Segment Information
Segment Information (tables)
Segment Information - Company's Sales By Group Of Similar Products (detail)
Segment Information - Long Lived Assets By Geographic Region (detail)
Segment Information - Long Lived Assets By Geographic Region (parenthetical) (detail)
Segment Information - Net Sales By Geographic Region (detail)
Segment Information - Reconciliation Of Sales, Operating Profit, Total Assets, Depreciation And Amortization And Capital Expenditures (detail)
Stock Incentive Plan
Stock Incentive Plan (tables)
Stock Incentive Plan - Additional Information (detail)
Stock Incentive Plan - Schedule Of Stock Option Activity (detail)
Stock Incentive Plan - Schedule Of Stock Plan Balances For Restricted Stock Units, Stock Options, Deferred Compensation Shares And Stock Awards (detail)
Stock Incentive Plan - Schedule Of Weighted-average Black-scholes Fair Value Assumptions (detail)
Stock Incentive Plans - Schedule Of Restricted Stock Units (detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies - Additional Information (detail)
Venezuelan Operations
Venezuelan Operations - Additional Information (detail)
Ticker: AFN
CIK: 1328655
Form Type: 10-K Annual Report
Accession Number: 0001193125-13-111193
Submitted to the SEC: Mon Mar 18 2013 8:02:08 AM EST
Accepted by the SEC: Mon Mar 18 2013
Period: Monday, December 31, 2012
Industry: Motor Vehicle Parts And Accessories

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