Autoneum: Sales development 2020 in line with...
Autoneum

Sales development 2020 in line with market

Autoneum

Due to the worldwide corona crisis, global automotive production declined by 16.2% to 74.5 million vehicles in 2020. Sales by automotive supplier Autoneum Management AG, Winterthur/Switzerland, in local currencies fell by 16.2%. In Swiss francs, this was a reduction of 24.2% to CHF 1.74 billion.

The somewhat stronger decline of revenue compared to the market results from a lower share of Asia in Autoneum's total sales. The heterogeneous development of the 1st and 2nd half (H1, H2) of the year was characteristic for the pandemic-driven automotive year 2020. Worldwide lockdowns and production stoppages at vehicle manufacturers led to a market slump in the first 6 months and a corresponding loss in sales for Autoneum. Thanks to the subsequent market recovery and catch-up effects in H2/2020, sales improved considerably compared to H1/2020.
While sale in local currencies of the highest-volume Business Groups (BGs) Europe and North America decreased by 25.6% and 19.3% respectively, reflecting the regional, pandemic-driven market development (Europe: -22.9%; North America: -20.1%), BG Asia almost held its prior-year level with an organic decline of only 2.1% in 2020 thanks to the strong upturn in automobile production in China in H2/2020 and despite the fact that the number of vehicles produced in Asia fell by 11.4%.
At the Annual General Meeting on March 25, 2021, the Board of Directors will propose Liane Hirner and Oliver Streuli for election to the Board of Directors of Autoneum Holding. Peter Spuhler will not stand for re-election.

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