Italy's Sogefi gave shareholders a 5.9 percent return in the second quarter.
The Mantova-based maker of filters and suspension components reported strong results for the first quarter, with revenues up 5.3 percent to E253.2 million and operating profit up 10.9 percent to E31.1 million.
It followed record sales and profit in 2004, when the company managed to pass on increases in raw material prices to customers. It also generated economies of scale because of higher sales volumes and cuts to structure costs.
"The company is successfully expanding abroad, notably in South America," said Philip Wylie, automotive leader at PricewaterhouseCoopers corporate finance.
In April, the board of directors appointed Rodolfo De Benedetti as chairman, succeeding his father Carlo De Benedetti. Carlo became honorary chairman.
French supplier Valeo provided a 4.0 percent return in the quarter.
Its shares were boosted by renewed speculation that investment funds such as Blackstone of the US are seeking to take control of Valeo - the company no longer has a single shareholder large enough to oppose a takeover bid.
Such speculation pushed Valeo's share price from E33 in April to E37.10 at the end of the quarter. But in June, CEO Thierry Morin said no potential buyer had approached the company.
Valeo's results in the first quarter did not shine. Sales fell 1.6 percent to E2.3 billion and operating margin fell 33.3 percent to E72 million. Valeo blamed the fall in profit on rising cost of raw materials.
Still the company is pursuing expansion in fast-growing Southeast Asia. Valeo increased its stake in the joint ventures of Siam Zexel Co. and Zexel Sales Thailand Co. to 74.9 percent from 39 percent. These companies are part of the Valeo Climate Control Branch that develops, manufactures and sells heating, ventilation and air conditioning systems.
In contrast, First Technology's shareholder return fell 20.2 percent in the quarter. The UK maker of electronics and safety systems said that about half its automotive and special products divisions' sales are affected by production cutbacks at Ford and GM.
Investors were concerned by the resignation of John Shepherd as First Technology CEO after two years in the job. No explanation was given by the group about the departure of Shepherd, replaced by former chief operating officer Jeff Wood.
First Technology said sales in its fiscal year ending April 30 reached £163.4 million (currently E240 million), up 37.5 percent from a year earlier. This gain was largely a result of acquisitions and consolidations, the most important being BW Technologies, a Canadian designer and manufacturer of portable and fixed gas detection equipment. But profits fell by 4 percent to £22.9 million.
Montupet's shareholder return fell 15.8 percent in the quarter. Montupet's share price fell from E23.60 in February to a low of E16.70 in May.
Total Shareholder Value Index
The Automotive News Europe/PricewaterhouseCoopers Shareholder Value Index for European automakers, suppliers and retailers reflects investor returns for publicly traded companies.
The index measures the growth in value of an investment by including capital gains, share buybacks and dividends, and assumes that all cash distributions are reinvested.
The three categories surveyed include vehicle manufacturers headquartered in Europe; European suppliers with annual sales more than E100 million, of which more than 50 percent is in the automotive sector; and European car retail companies with sales more than E250 million. The returns have been adjusted for currency movements.The indices are weighted by market capitalization. Companies with larger capitalization - the value of a share price multiplied by the number of shares outstanding - have a greater impact on the index.