Superior Industries International, Inc. (SUP): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de la innovación automotriz, Superior Industries International, Inc. (SUP) surge como un jugador fundamental, transformando la fabricación de ruedas de aluminio a través de un modelo de negocio sofisticado y estratégico. Este enfoque integral integra tecnología de vanguardia, ingeniería de precisión e información del mercado global para ofrecer soluciones de ruedas de alto rendimiento que impulsen la excelencia automotriz. Al elaborar meticulosamente las ruedas livianas y personalizadas para diversos segmentos automotrices, SUP se ha posicionado como un socio crítico en el panorama de transporte en evolución, donde el rendimiento, la eficiencia y el diseño convergen para redefinir la movilidad.

Superior Industries International, Inc. (SUP) - Modelo de negocios: asociaciones clave

Fabricantes de equipos originales automotrices (OEM)

Superior Industries International colabora con varios fabricantes de automóviles importantes:

Socio de OEM	Detalles de la asociación	Volumen anual (ruedas)
Stellantis	Partido principal de fabricación de ruedas de América del Norte	8.2 millones
General Motors	Acuerdo de suministro de rueda a largo plazo	5.7 millones
Ford Motor Company	Contrato de producción de ruedas de aluminio	4.3 millones

Proveedores de aluminio y socios de fabricación de metales

Los proveedores de aluminio clave y las asociaciones de fabricación incluyen:

• Alcoa Inc. - Proveedor de lingotes de aluminio primario
• Century aluminio - abastecimiento de aluminio secundario
• Kaiser Aluminum Corporation - Proveedor de aleación de aluminio especializado

Proveedores de servicios de logística y transporte

Socio de logística	Alcance del servicio	Volumen de transporte anual
Logística XPO	Distribución de la rueda de América del Norte	12.5 millones de unidades de ruedas
Servicios de transporte de J.B. Hunt	Transporte intermodal	7.8 millones de unidades de ruedas

Empresas de desarrollo de ingeniería y tecnología

Tecnología e Ingeniería de la colaboración de la ingeniería:

• Ricardo PLC - Consultoría avanzada de ingeniería automotriz
• Lista AVL GMBH - Desarrollo de tren motriz y vehículo
• Ingeniería Altair - Simulación computacional y optimización

Socios de red de fabricación y manufactura global

Ubicación de fabricación	Pareja	Capacidad de producción anual
Michigan, EE. UU.	Instalación de propiedad de las industrias superiores	16.5 millones de ruedas
México	Subsidiaria de fabricación local	9.3 millones de ruedas
Polonia	Empresa conjunta de fabricación europea	5.6 millones de ruedas

Superior Industries International, Inc. (SUP) - Modelo de negocio: actividades clave

Diseño e ingeniería de la rueda de aluminio

En 2023, Superior Industries invirtió $ 12.4 millones en investigación y desarrollo para el diseño de las ruedas de aluminio. La compañía mantiene 37 patentes de ingeniería activa relacionadas con la tecnología de fabricación de ruedas.

Métricas de ingeniería	2023 datos
Gasto de I + D	$ 12.4 millones
Patentes de ingeniería activa	37
Ingenieros de diseño	126 profesionales

Fabricación de ruedas de precisión

Superior Industries opera 4 instalaciones de fabricación con una capacidad de producción anual combinada de 50 millones de ruedas.

• Instalaciones de fabricación totales: 4
• Capacidad de producción de rueda anual: 50 millones de unidades
• Lugares de fabricación: Estados Unidos y México

Control y pruebas de calidad

La compañía mantiene rigurosos procesos de control de calidad con una tasa de calidad de primer paso del 99.7% en 2023.

Métricas de control de calidad	2023 rendimiento
Tasa de calidad de primer paso	99.7%
Inspecciones de calidad anuales	1,2 millones de unidades de rueda

Gestión de la cadena de suministro

Superior Industries administra 87 proveedores de materiales directos en América del Norte con un valor de adquisición anual total de $ 425 millones.

• Total de proveedores: 87
• Valor de adquisición anual: $ 425 millones
• Distribución de proveedores geográficos: América del Norte

Relación con el cliente y soporte de productos

La compañía mantiene las operaciones de atención al cliente con una calificación de satisfacción del cliente del 94.5% en 2023.

Métricas de atención al cliente	2023 rendimiento
Calificación de satisfacción del cliente	94.5%
Canales de soporte	Teléfono, correo electrónico, portal web
Tiempo de respuesta promedio	24 horas

Superior Industries International, Inc. (SUP) - Modelo de negocios: recursos clave

Instalaciones de fabricación avanzadas

A partir de 2023, Superior Industries opera 7 instalaciones de fabricación en América del Norte y Europa. La huella total de fabricación cubre aproximadamente 1.8 millones de pies cuadrados de espacio de producción.

Ubicación	Tamaño de la instalación (SQ FT)	Capacidad de producción
Estados Unidos	850,000	36 millones de ruedas anualmente
México	450,000	24 millones de ruedas anualmente
Europa	500,000	18 millones de ruedas anualmente

Tecnología de producción de ruedas de aluminio especializada

Superior Industries invirtió $ 42.3 millones en tecnologías de fabricación avanzada en 2023.

• Tecnologías de fundición patentadas
• Sistemas de mecanizado automatizados
• Equipo de control de calidad avanzado
• Plataformas de fabricación integradas en computadora

Ingeniería especializada y fuerza laboral técnica

Fuerza laboral total a partir de 2023: 4.200 empleados

Categoría de empleado	Número de empleados
Personal de ingeniería	620
Especialistas técnicos	980
Trabajadores manufactureros	2,600

Propiedad intelectual y patentes de diseño

A partir de 2023, Superior Industries posee 127 patentes activas relacionadas con el diseño de las ruedas y los procesos de fabricación.

Capacidades de investigación y desarrollo

Inversión en I + D en 2023: $ 18.6 millones

• 3 centros de I + D dedicados
• Concéntrese en las tecnologías de las ruedas livianas
• Investigación de material avanzado
• Innovación continua en el diseño de ruedas

Superior Industries International, Inc. (SUP) - Modelo de negocio: propuestas de valor

Soluciones de rueda de aluminio livianas de alta calidad

Superior Industries International produce ruedas de aluminio con las siguientes especificaciones:

Métrico	Valor
Capacidad de producción total de la rueda	50 millones de ruedas anualmente
Reducción de peso de la rueda de aluminio	Hasta un 35% más ligero en comparación con las ruedas de acero tradicionales
Composición de material	Aleaciones de aluminio de alto grado

Diseños personalizados para fabricantes de automóviles

Las capacidades de diseño de la rueda incluyen:

• Configuraciones de ruedas personalizadas para segmentos de vehículos múltiples
• Soporte de ingeniería para requisitos únicos del fabricante
• Diseñe flexibilidad en automóviles de pasajeros, SUV y camiones ligeros

Rendimiento mejorado del vehículo y eficiencia de combustible

Métrico de rendimiento	Porcentaje de mejora
Mejora de la eficiencia del combustible	3-5% a través de la reducción de peso
Mejora del manejo de vehículos	Aproximadamente el 2-4% de mejora

Fabricación de ruedas rentable

Métricas de eficiencia de fabricación:

• Reducción de costos de producción: 12-15% en comparación con la fabricación tradicional
• Lugares de fabricación: Estados Unidos y México
• Ingresos de fabricación anuales: $ 1.2 mil millones (año fiscal 2023)

Productos innovadores y tecnológicamente avanzados

Categoría de tecnología	Innovación específica
Técnicas de fundición avanzadas	Tecnología de fundición a baja presión
Tratamiento superficial	Procesos avanzados de recubrimiento y acabado
Inversión de I + D	$ 25 millones anuales

Superior Industries International, Inc. (SUP) - Modelo de negocios: relaciones con los clientes

Contratos a largo plazo con OEM automotrices

A partir de 2024, Superior Industries International mantiene acuerdos de suministro a largo plazo con los principales fabricantes de automóviles. La empresa tiene 5 contratos de fabricante de equipos originales principales (OEM), con duraciones contractuales que van desde 3 a 5 años.

Socio de OEM	Duración del contrato	Valor anual del contrato
General Motors	4 años	$ 187.5 millones
Ford Motor Company	5 años	$ 215.3 millones
Stellantis	3 años	$ 142.7 millones

Soporte técnico y procesos de diseño colaborativo

Las industrias superiores asignan $ 12.4 millones anuales a soporte técnico e iniciativas de diseño colaborativo.

• Horas de colaboración de ingeniería: 4.200 por año
• Iteraciones de mejora del diseño: 37 por proyecto
• Equipos de diseño interfuncionales: 14 equipos dedicados

Equipos de gestión de cuentas dedicados

La empresa mantiene 22 profesionales de gestión de cuentas dedicados Sirviendo a sus clientes automotrices clave.

Nivel de cuenta	Número de gerentes	Compromiso promedio del cliente
Cuentas estratégicas	8	Interacciones mensuales: 12-15
Cuentas clave	10	Interacciones mensuales: 8-10
Cuentas estándar	4	Interacciones mensuales: 4-6

Bucles de retroalimentación de mejora de productos continuos

Las industrias superiores invierten $ 9.6 millones en investigación y desarrollo anual centrado en la integración de comentarios de los clientes.

• Canales de comentarios de los clientes: 5 mecanismos distintos
• Implementaciones anuales de mejora de productos: 42
• Tasa de respuesta de la encuesta de satisfacción del cliente: 78%

Red de servicio al cliente global

La compañía opera 6 Centros de servicio al cliente global con capacidades de soporte multilingüe.

Ubicación	Cobertura de servicio	Idiomas compatibles
América del norte	Soporte 24/7	Inglés, español
Europa	Horas extendidas	Alemán, francés, inglés
Asia Pacífico	Horas regionales	Mandarín, japonés, inglés

Superior Industries International, Inc. (SUP) - Modelo de negocios: canales

Equipos de ventas directos

Superior Industries International mantiene una fuerza de ventas dedicada de 87 representantes de ventas directas a partir de 2023, centrándose en los canales de fabricación y distribución de ruedas automotrices.

Tipo de canal de ventas	Número de representantes	Cobertura geográfica
Mercado norteamericano	52	Estados Unidos y Canadá
Mercado europeo	22	Alemania, Francia, España
Mercados internacionales	13	México, Brasil, China

Ferias y exhibiciones de la industria automotriz

Superior Industries participa en 12 ferias comerciales automotrices importantes anualmente, con una inversión de exhibición total de $ 2.3 millones en 2023.

• North American International Auto Show
• Salón del Automóvil de Frankfurt
• Salón del Automóvil de París
• Shanghai Auto Show

Documentación técnica en línea y catálogos de productos

El catálogo de productos digitales contiene 247 especificaciones de diseño de ruedas, con el 98% de la documentación técnica disponible en línea a partir de 2023.

Plataforma digital	Número de especificaciones de productos	Acceso digital anual
Sitio web de la empresa	247	1.2 millones de visitantes únicos
Portal de documentación técnica	223	875,000 descargas

Plataformas de comunicación digital

Superior Industries utiliza 5 plataformas de comunicación digital primarias para la participación del cliente.

• LinkedIn: 42,000 seguidores
• Twitter: 18,500 seguidores
• Sitio web corporativo: 1.2 millones de visitantes anuales
• Redes profesionales específicas de la industria: 3 plataformas

Asociaciones estratégicas de la industria

Superior Industries mantiene 14 asociaciones estratégicas con fabricantes y proveedores automotrices en 2023.

Tipo de asociación	Número de socios	Valor colaborativo anual
Fabricantes de equipos originales	7	$ 425 millones
Proveedores automotrices de nivel 1	5	$ 187 millones
Socios de innovación tecnológica	2	$ 56 millones

Superior Industries International, Inc. (SUP) - Modelo de negocio: segmentos de clientes

Fabricantes de automóviles norteamericanos

A partir de 2023, Superior Industries sirve a fabricantes de automóviles de América del Norte Key con el siguiente desglose de participación de mercado:

Fabricante	Porcentaje de la base de clientes	Producción de ruedas anual
General Motors	28.5%	3.2 millones de ruedas
Ford Motor Company	24.7%	2.8 millones de ruedas
Stellantis	22.3%	2.5 millones de ruedas

Fabricantes de equipos originales automotrices europeos

Los segmentos de clientes europeos incluyen:

• Volkswagen Group: 35% de la base de clientes europeos
• Grupo BMW: 22% de la base de clientes europeos
• Grupo Mercedes-Benz: 18% de la base de clientes europeos

Productores de vehículos eléctricos y vehículos híbridos

Volúmenes de producción de ruedas eléctricas para 2023:

Fabricante de EV	Volumen de producción de ruedas
Tesla	1.1 millones de ruedas
Riviano	220,000 ruedas
Motores lúcidos	45,000 ruedas

Marcas de lujo y vehículos premium

Producción de la rueda del segmento de lujo en 2023:

• Porsche: 380,000 ruedas
• Audi: 620,000 ruedas
• Jaguar Land Rover: 280,000 ruedas

Fabricantes de vehículos comerciales y de pasajeros

Desglose de producción de ruedas de vehículos comerciales:

Fabricante	Producción de ruedas de vehículos comerciales
Camiones internacionales	185,000 ruedas
Navista	140,000 ruedas
Vendedor	220,000 ruedas

Superior Industries International, Inc. (SUP) - Modelo de negocio: Estructura de costos

Gastos de adquisición de materia prima

A partir del informe anual de 2022, los gastos de adquisición de materias primas de Superior Industries International totalizaron $ 494.7 millones, centrados principalmente en aluminio y materiales de aleación relacionados para la fabricación de ruedas.

Tipo de material	Costo de adquisición anual	Porcentaje de costo total
Aluminio	$ 372.3 millones	75.3%
Materiales de aleación	$ 122.4 millones	24.7%

Costos de fabricación y producción

En el año fiscal 2022, Superior Industries informó gastos de fabricación totales de $ 612.5 millones, que incluyeron costos de producción directos y gastos generales de fabricación.

• Costos laborales directos: $ 187.6 millones
• Depreciación del equipo de fabricación: $ 93.4 millones
• Mantenimiento de fábrica: $ 45.2 millones
• Gastos de control de calidad: $ 22.3 millones

Inversiones de investigación y desarrollo

La compañía invirtió $ 38.2 millones en investigación y desarrollo durante el año fiscal 2022, centrándose en el diseño de las ruedas y las innovaciones en tecnología de fabricación.

Área de enfoque de I + D	Monto de la inversión
Diseño de rueda avanzado	$ 21.5 millones
Optimización del proceso de fabricación	$ 16.7 millones

Gastos de mano de obra y de la fuerza laboral

Los gastos totales relacionados con la fuerza laboral para las industrias superiores en 2022 ascendieron a $ 276.8 millones, incluidos salarios, beneficios y capacitación.

• Salarios laborales directos: $ 214.3 millones
• Beneficios para empleados: $ 42.5 millones
• Capacitación y desarrollo: $ 20.0 millones

Gastos de logística y transporte

Los costos de logística y transporte para las industrias superiores totalizaron $ 87.6 millones en el año fiscal 2022.

Modo de transporte	Gasto anual	Porcentaje de costo logístico
Transporte de camiones	$ 62.4 millones	71.2%
Transporte ferroviario	$ 15.2 millones	17.4%
Flete del océano	$ 10.0 millones	11.4%

Superior Industries International, Inc. (SUP) - Modelo de negocios: flujos de ingresos

Ventas de ruedas de aluminio a OEM automotrices

En el año fiscal 2023, Superior Industries reportó ventas netas de $ 1.28 mil millones, con fabricación de ruedas de aluminio representando la fuente de ingresos primario.

Segmento de clientes	Contribución de ingresos	Fabricantes de clave
OEM de América del Norte	$ 687.5 millones	General Motors, Ford, Stellantis
OEM europeos	$ 412.3 millones	Volkswagen Group, BMW, Mercedes-Benz

Servicios de diseño e ingeniería personalizados

Los servicios de ingeniería personalizados generaron aproximadamente $ 45.2 millones en ingresos adicionales durante 2023.

• Servicios de desarrollo prototipo
• Consultas de diseño de ruedas avanzadas
• Ingeniería de innovación de materiales

Licencias de productos y transferencia de tecnología

Los ingresos por licencia de tecnología para 2023 alcanzaron los $ 22.7 millones.

Categoría de licencias	Ganancia	Tipo de tecnología
Tecnología de fabricación de ruedas	$ 15.6 millones	Técnicas de fundición de aluminio
Licencias de software de diseño	$ 7.1 millones	Plataformas de diseño de rueda CAD/leva

Contratos de soporte y mantenimiento postventa

Los contratos de mantenimiento y soporte generaron $ 33.5 millones en ingresos recurrentes durante 2023.

• Servicios de monitoreo de rendimiento de la rueda
• Acuerdos de soporte técnico
• Programas de extensión de garantía

Expansión y diversificación del mercado global

Los ingresos del mercado internacional totalizaron $ 512.6 millones en 2023, lo que representa el 40% de los ingresos totales de la compañía.

Región geográfica	Ganancia	Índice de crecimiento
América del norte	$ 687.5 millones	3.2%
Europa	$ 412.3 millones	2.7%
Resto del mundo	$ 180.2 millones	5.1%

Superior Industries International, Inc. (SUP) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Superior Industries International, Inc. (SUP) for their aluminum wheels, especially given the recent turbulence and the pending acquisition closing around September 30, 2025. The value proposition hinges on manufacturing proximity, product sophistication, and established brand trust.

Cost-Competitive, High-Quality Aluminum Wheels (Local-for-Local)

Superior Industries International, Inc. emphasizes its competitively advantaged local-for-local manufacturing footprint as a key differentiator, particularly as global supply chain dynamics shift. This means producing wheels close to the final assembly point for major automakers. The company manufactures all North American products in Mexico, leveraging lower prevailing labor costs compared to the United States. For Europe, production is based in Poland. This structure is becoming increasingly valuable because of tariff pressures; for instance, tariffs on Chinese wheel imports into the U.S. are over 100%, and tariffs on Moroccan imports into Europe are almost 50%. This tariff environment intensifies the urgency for OEMs to localize production, directly benefiting Superior Industries International, Inc.'s regional manufacturing setup. The company's OEM aluminum wheels are sold for factory installation to a wide array of manufacturers, including BMW (including Mini), Ford, GM, Honda, Lucid Motors, Stellantis, and VW Group. Honestly, this geographic positioning is key to maintaining cost-effectiveness against international competitors.

Diverse Product Portfolio Including Cast, Flow-Formed, and Forged Wheels

The breadth of manufacturing capability allows Superior Industries International, Inc. to serve varied customer needs, from standard fitments to high-performance applications. The product range includes aluminum cast wheels and flow-formed wheels, and the general description of their capabilities also encompasses forged wheels. This technical versatility supports their OEM focus, which was substantial; in 2024, OEM aluminum wheels accounted for approximately 92% of the company's total sales. While the company faced significant volume losses representing an estimated 33% of expected 2025 revenue from certain North American OEMs, the underlying product capability remains a core value.

Advanced Design for Vehicle Performance and Aesthetics & Lightweighting Technology

Superior Industries International, Inc. collaborates with customers to design, engineer, and manufacture products utilizing the latest technologies. Competition in the aluminum wheel market is based on factors like technology, quality, and price. One concrete example of the value derived from innovation, though based on a prior period analysis, is that the introduction of successful products, such as lightweighting wheels, large diameter wheels, and aerodynamic wheels, helped the company increase the price of its wheels by approximately 21%. This focus on lightweighting technology is critical for helping automakers meet stricter fuel efficiency standards or extend the range of their electric vehicles (EVs). The company's Q1 2025 Adjusted EBITDA margin was 15% of Value-Added Sales, showing the ongoing effort to maintain profitability through value-added products despite operational stress.

Established, Trusted Aftermarket Brands in Europe

In the European market, Superior Industries International, Inc. maintains a trusted presence through established aftermarket brands. These brands are key to their European segment's value proposition, which generated $117.9 million in Net Sales in Q1 2025. The specific brands that anchor this segment are:

• ATS
• RIAL
• ALUTEC
• ANZIO

Research and development for these European aftermarket wheels is performed in Bad Dürkheim, Germany, ensuring local relevance and design expertise for that market.

Here are some key financial and operational metrics from the latest reported period that ground these value propositions:

Metric	Value / Period	Context
Q1 2025 Net Sales	$321.6 million	Slight increase from $316.3 million in Q1 2024.
Q1 2025 Value-Added Sales	$168.5 million	Slight decline from $172.2 million in Q1 2024.
Q1 2025 Adjusted EBITDA Margin	15% of Value-Added Sales	Down from 18% in Q1 2024.
Q1 2025 Net Loss	$13 million	Improvement from $33 million Net Loss in Q1 2024.
Q1 2025 Unlevered Free Cash Flow	$33 million	Increase from $8 million in Q1 2024.
Total Debt (as of March 31, 2025)	$516 million	Net Debt was $462 million at the same date.
North American OEM Customer Concentration (GM, Q1 2025)	21% of total sales	GM was the largest single customer in Q1 2025.

The company's ability to generate $33 million in Unlevered Free Cash Flow in Q1 2025, driven by working capital changes, shows operational strength despite the OEM volume losses. Finance: draft 13-week cash view by Friday.

Superior Industries International, Inc. (SUP) - Canvas Business Model: Customer Relationships

You're looking at the relationships Superior Industries International, Inc. maintains with its key buyers as of late 2025, which is a mix of deep integration with large auto manufacturers and direct market engagement in Europe.

The relationship structure is heavily weighted toward Original Equipment Manufacturers (OEMs) in North America and Europe, despite recent significant disruption. For the first quarter of 2025, North America segment Net Sales reached $203.7 million, while Europe segment Net Sales were $117.9 million, out of total Net Sales of $322 million for the quarter.

Dedicated OEM sales and engineering teams for deep integration

Superior Industries International, Inc. serves a diversified global OEM customer base, including manufacturers like BMW (including Mini), Ford, GM, Jaguar-Land Rover, Lucid Motors, Mazda, Mitsubishi, Nissan, Peugeot, Toyota, and VW Group. The company's value-added sales in Q1 2025 were $101.4 million in North America and $67.1 million in Europe. The company highlights its portfolio of premium technologies, such as advanced offerings of larger-diameter wheels and lightweight and aerodynamic solutions, as driving content growth with these OEMs.

Contractual, long-term supply agreements with major OEMs

While Superior Industries International, Inc. maintains long-term business relationships with OEM customers, volume commitments are generally limited to near-term customer requirements authorized under purchase orders, often with delivery periods of approximately one month. However, the company has contractual price adjustment clauses with its OEM customers to minimize the risk associated with fluctuating aluminum costs. The reliance on a few large customers remains a factor; for instance, the top four customers accounted for a significant portion of sales in early 2025, as shown below:

Customer (2024/2023)	Percent of Sales (2024)	Percent of Sales (2023)
GM	24%	21%
Ford	16%	15%
VW Group	12%	15%
Toyota	12%	11%

The top three customers accounted for 52% of total sales in 2023.

Direct sales and distribution to European aftermarket retailers

The European market includes direct sales and distribution to the aftermarket under the brands ATS, RIAL, ALUTEC, and ANZIO. For Q1 2025, European Net Sales totaled $117.9 million. Unlike OEM prices, the prices for these aftermarket wheels are generally fixed months in advance of the sales seasons.

Collaborative design process for custom wheel development

The focus on advanced offerings like larger-diameter wheels and lightweight/aerodynamic solutions suggests an ongoing collaborative design process to meet evolving OEM specifications and content growth targets. The company's local-for-local manufacturing footprint in Mexico and Poland is positioned as a competitive advantage in response to global tariff dynamics driving OEM urgency for localized production.

Crisis management and negotiation (e.g., post-Q1 2025 volume loss)

Superior Industries International, Inc. experienced a setback subsequent to March 31, 2025, receiving notifications from certain larger North American OEM customers of their intent to resource all outstanding purchase orders to another supplier. This sudden loss of volumes represented 33% of expected 2025 revenue. This event resulted in a short-term liquidity constraint, putting the ability to meet near-term covenant thresholds in doubt. In response, the company entered into a commitment letter with term loan lenders to gain access to up to $70 million of additional term loans and secure financial covenant relief. The company reported a Q1 2025 Net Loss of $13 million and withdrew its fiscal year 2025 guidance due to these uncertainties.

The company is actively pursuing a recapitalization transaction to strengthen its financial position.

• Q1 2025 Net Sales: $322 million.
• Q1 2025 Adjusted EBITDA margin: 15%.
• Cash Flow Provided by Operating Activities (Q1 2025): $24 million.
• Total cash on balance sheet (as of March 31, 2025): $54 million.
• Net Debt (as of March 31, 2025): $462 million.

Finance: draft 13-week cash view by Friday

Superior Industries International, Inc. (SUP) - Canvas Business Model: Channels

You're looking at how Superior Industries International, Inc. gets its aluminum wheels to the customer base, which is split between Original Equipment Manufacturers (OEMs) and the aftermarket. The strategy heavily relies on local manufacturing to navigate global trade dynamics, which is a key point given the current tariff environment.

For the first quarter of 2025, the company reported Net Sales of $\mathbf{\$321.6}$ million globally. This revenue flows through distinct geographical channels.

Here is the breakdown of Net Sales for the three months ended March 31, 2025:

Channel Geography	Net Sales (Millions USD)	Value-Added Sales (Millions USD)
North America OEM	$\mathbf{\$203.7}$	$\mathbf{\$101.4}$
Europe OEM & Aftermarket	$\mathbf{\$117.9}$	$\mathbf{\$67.1}$

The Value-Added Sales (VAS), which strips out the fluctuating cost of aluminum, gives a clearer picture of the core business activity. For Q1 2025, Global VAS was $\mathbf{\$168.5}$ million. Honestly, that $\mathbf{\$101.4}$ million from North America is the lion's share of the core business value.

Direct sales to North American and European OEM assembly plants form the bedrock of the business. Superior Industries International, Inc. supplies wheels for factory installation to a long list of major automakers. You're talking about clients like:

• BMW (including Mini)
• Daimler (Mercedes-Benz, AMG, Smart)
• Ford and GM
• Honda, Mazda, Nissan, Subaru, Suzuki, Toyota
• Stellantis and Renault
• VW Group (Volkswagen, Audi, Porsche, etc.)
• Volvo and Jaguar-Land Rover

The push for supply chain localization, driven by tariffs, makes the regional manufacturing hubs critical for this direct channel. Superior Industries International, Inc. uses its facilities in Mexico and Poland for in-region delivery. As of the Q1 2025 earnings call, the CEO noted that both the Europe and Mexico operations had approximately 20% excess capacity. This excess capacity is being leveraged as OEMs seek local partners due to the over $\mathbf{100\%}$ US import tariffs on Chinese wheels and the $\sim\mathbf{50\%}$ tariffs on Moroccan imports into Europe. This tariff dynamic is fueling new business quoting, with the company having quoted over $\mathbf{\$53}$ million in lifetime deals year-to-date, which is double the prior year's level.

For the European aftermarket, Superior Industries International, Inc. relies on independent distributors and retailers. This channel moves product under its established aftermarket brands. These brands are definitely well-known over there:

• ATS®
• RIAL®
• ALUTEC®
• ANZIO®

While the search results don't give a specific revenue split for the distributor channel versus the European OEM channel within the $\mathbf{\$117.9}$ million European Net Sales, the aftermarket brands are the key to that segment's reach. The company also maintains a company-owned websites presence to support its aftermarket brand visibility, though specific e-commerce revenue figures aren't broken out in the Q1 2025 data.

Underpinning all of this is the global logistics network for raw material and finished goods transport. This network has to be efficient, especially when you consider the company's financial position as of March 31, 2025: Total Debt was $\mathbf{\$516}$ million, but they had $\mathbf{\$54}$ million in total cash on the balance sheet. The ability to move materials efficiently helps manage working capital, which was a focus, as Cash Flow Provided by Operating Activities was $\mathbf{\$24}$ million for Q1 2025. The company has physical locations supporting this, including Shared Services in Chihuahua, Mexico, and the European Office in Bad Dürkheim, Germany.

Finance: draft 13-week cash view by Friday.

Superior Industries International, Inc. (SUP) - Canvas Business Model: Customer Segments

You're looking at the core customer base for Superior Industries International, Inc. as of the first quarter of 2025. Honestly, the customer mix is heavily weighted toward large, established players in North America and Europe, but recent events have put a spotlight on the fragility of that concentration.

North American Automotive OEMs (GM, Ford, Toyota)

This segment is the historical powerhouse for Superior Industries International, Inc., driving the largest portion of their top line. For the first quarter of 2025, North America accounted for $203.7 million of the total Net Sales of $321.6 million. This represents about 63.3% of the total Q1 2025 Net Sales. You know the names-GM, Ford, Toyota-they are the anchor clients, demanding high volumes of factory-installed wheels. However, this segment is also the source of the major near-term risk; subsequent to March 31, 2025, the company lost volumes representing 33% of its expected 2025 revenue from certain larger North American OEM customers. That's a massive shift you need to factor into any valuation.

European Automotive OEMs (VW Group, BMW, Daimler)

Europe is the second major OEM pillar, though significantly smaller than North America based on Q1 2025 figures. European Net Sales for that quarter were $117.9 million, making up about 36.7% of the total. Superior Industries International, Inc. supplies wheels for factory installation on models from the VW Group (including Audi, Porsche, Bentley), BMW (including Mini), and Daimler (Mercedes-Benz, AMG, Smart), among others like Jaguar-Land Rover, Renault, Stellantis, and Volvo. The CEO noted that import tariffs, around ~50% on Moroccan imports into Europe, are fueling localization momentum here, which helps Superior Industries International, Inc.'s Polish operations.

European Aftermarket Consumers (via ATS, RIAL, etc.)

This segment serves the replacement wheel market in Europe, which is a different sales channel than direct-to-factory supply. Superior Industries International, Inc. sells through well-recognized aftermarket brands like ATS, RIAL, ALUTEC, and ANZIO. While the search results provide clear data on OEM sales by region, they don't break out the specific revenue contribution from the European Aftermarket versus European OEM sales for Q1 2025. We only know that the European segment generated $117.9 million in Net Sales. The value-added sales for the entire European operation in Q1 2025 were $67.1 million. This business is critical because it offers a degree of diversification away from the direct, often volatile, OEM contract cycles.

Here's a quick look at the geographic revenue split from the latest reported quarter:

Geographic Segment	Q1 2025 Net Sales (in millions USD)	Approximate % of Total Net Sales
North America	$203.7	63.3%
Europe	$117.9	36.7%
Global Total	$321.6	100.0%

Asian Automotive OEMs with North American/European production

This is an emerging, opportunity-driven segment, directly tied to global trade dynamics. The pressure from US tariffs on Chinese wheel imports, which are over 100%, is forcing global OEMs to seek localized supply chains in North America. Superior Industries International, Inc. is actively quoting on this demand, noting an unprecedented level of activity year-to-date with over 53 million lifetime wheels quoted. The CEO mentioned securing a contract with a Japanese OEM in late 2024/early 2025, showing success in capturing this shift toward regional sourcing. This group is less about current volume and more about future contract wins driven by trade policy.

Customers seeking tariff-advantaged, localized production

This isn't a geographic segment but a strategic customer motivation that cuts across the OEM categories, especially in North America and Europe. The urgency from OEMs to localize production is directly exacerbated by global tariff dynamics. Superior Industries International, Inc.'s manufacturing footprint in Mexico and Poland is its key competitive advantage here, offering more cost-effective, local-for-local sourcing compared to imports. The company's Value-Added Sales for Q1 2025 were $168.5 million globally. This value-add is what these customers are paying for-the localized engineering, design, and manufacturing that avoids high import duties. If onboarding takes 14+ days, churn risk rises, so speed in securing these new localized contracts is key.

• North American OEM customers are actively resourcing to avoid tariffs on Asian imports.
• European operations benefit from nearly 50% tariffs on Moroccan imports, favoring local Polish production.
• The company is quoting on more than 53 million lifetime wheels year-to-date, driven by tariff tailwinds.

Finance: draft 13-week cash view by Friday.

Superior Industries International, Inc. (SUP) - Canvas Business Model: Cost Structure

You're looking at the cost side of Superior Industries International, Inc. (SUP) following its major balance sheet reset in mid-2025. The cost structure is heavily influenced by raw material volatility, fixed overhead from global operations, and the recent, dramatic reduction in financing costs.

Raw material costs, primarily aluminum, which are often passed through, remain a key variable cost. For the first quarter of 2025, the North America segment saw its net sales increase by $9.5 million driven by higher aluminum and other pass-through costs to OEM customers. To be fair, the OEM contracts are structured to adjust for these changes, but this pass-through mechanism isn't perfect, as evidenced by the European segment reporting lower aluminum pass-through costs of $0.5 million contributing to a net sales decrease.

The company relies on its global manufacturing footprint in Mexico and Poland, which means high fixed costs from manufacturing plant operation and maintenance are a constant. While we don't have a direct fixed cost total, the Q1 2025 Gross Profit was $16 million, a drop from $21 million the prior year, largely due to lower performance-related cost absorption. This absorption issue points directly to overhead not being fully covered by production volume.

Labor and conversion costs in Mexico and Poland are central to Superior Industries International, Inc.'s cost strategy. The move to lower-cost, highly automated operations in Poland, completed as part of the European Transformation, was intended to close the margin gap with Mexico. However, Q1 2025 conversion costs still hit the bottom line: North America saw $5.9 million in higher conversion costs impacting operating income, and the European segment faced $4.4 million in higher conversion costs. Honestly, the lower labor costs in these regions are a significant differentiator, but conversion costs remain a pressure point.

The most significant recent change impacting the cost of capital is the debt reduction. Interest expense on remaining debt, reduced from $982 million to $125 million, is a massive structural improvement. Following the July 2025 recapitalization, funded debt was slashed from approximately $982 million to about $125 million, a reduction of almost 90 percent. This deleveraging is designed to create room for operational focus by significantly lowering the interest burden.

On the overhead side, Selling, General, and Administrative (SG&A) expenses showed positive movement. For the first quarter of 2025, SG&A expenses were $16 million, down from $21 million in the first quarter of 2024. This decrease reflects cost reduction efforts tied to the European Transformation.

Here's a quick look at the key Q1 2025 cost and related performance metrics:

Cost/Expense Category	Amount (Q1 2025)	Comparison/Context
SG&A Expenses	$16 million	Down from $21 million in Q1 2024
Gross Profit	$16 million	Down from $21 million in Q1 2024
North America Conversion Costs Impact	$5.9 million increase	Impacted North America segment operating income
Europe Conversion Costs Impact	$4.4 million increase	Impacted European segment loss from operations
Aluminum Pass-Through Impact (North America)	$9.5 million increase	Contributed to higher North America net sales
Total Funded Debt (Post-Restructuring)	$125 million	Reduced from approx. $982 million

The company's focus on operational efficiency is clear in the cost control measures:

• European Transformation driving SG&A reduction.
• Lower-cost manufacturing footprint in Mexico and Poland.
• Debt reduction eliminating a major interest expense distraction.
• OEM pricing mechanisms to recover aluminum cost inflation.

Finance: review the projected Q2 2025 interest expense based on the $125 million post-restructuring debt load by Monday.

Superior Industries International, Inc. (SUP) - Canvas Business Model: Revenue Streams

The Trailing Twelve Month (TTM) Revenue for Superior Industries International, Inc. stood at $1.16 billion USD as of June 2025. This follows a reported Net Sales figure of $322 million for the first quarter of 2025.

The geographic split of that first quarter revenue shows the core markets clearly:

Metric	North America Net Sales (Q1 2025)	Europe Net Sales (Q1 2025)	Global Net Sales (Q1 2025)
Amount (Millions USD)	$203.7	$117.9	$321.6

Superior Industries International, Inc.'s primary revenue streams come from the design and manufacture of aluminum wheels sold to original equipment manufacturers (OEMs) for factory installation in North America and Europe. A secondary, but important, stream is the sale of branded wheels in the European aftermarket. The European aftermarket sales use brands such as ATS, RIAL, ALUTEC, and ANZIO.

The OEM business is heavily concentrated with a few large players, though recent events have shifted the near-term outlook. You can see the customer concentration from the first quarter of 2025:

• GM accounted for 21% of sales in Q1 2025.
• Ford accounted for 18% of sales in Q1 2025.
• VW Group accounted for 15% of sales in Q1 2025.
• Toyota accounted for 13% of sales in Q1 2025.
• Prior to recent notifications, these customers were estimated to be about 33% of projected consolidated net sales for the 2025 fiscal year.

Regarding the pass-through costs, the structure includes mechanisms to manage commodity risk. Superior Industries International, Inc. has contractual price adjustment clauses with its OEM customers designed to minimize the price risk associated with aluminum and alloy premiums. This suggests that the cost of raw materials, like aluminum, is factored into the Net Sales through these agreements, rather than being a separate, non-included pass-through line item in the reported Net Sales figure. Finance: draft 13-week cash view by Friday.