Autoneum: Recovery of global automotive produ...
Autoneum

Recovery of global automotive production

Autoneum

The global automobile production has been recovering faster than expected since this summer. If the positive development continues in the 2nd half of 2020 (H2/2020), the decline in sales at automotive supplier Autoneum Management AG, Winterthur/Switzerland, could be only around -5% in local currencies compared to 2019. For fiscal year 2020, a decline in sales in local currencies of around -20% is expected.

Based on this development of sales, the extensive cost reduction measures taken in response to the Covid-19 crisis and the on-schedule progress of the turnaround in North America, an EBIT margin of 4-5% is expected for the H2/2020 and a slightly positive EBIT margin for 2020 as a whole.
The outlook for 2021 and especially the 1st half-year remains uncertain and depends strongly on how the pandemic will develop. According to forecasts, global vehicle production in 2021 will still not reach the level of 2019.

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