Autoneum: Operating profit achieved thanks to...
Autoneum

Operating profit achieved thanks to profitable H2/2020

Autoneum

Due to the pandemic-related decline in global vehicle production, sales by the automotive supplier Autoneum Management AG, Winterthur/Switzerland, decreased by 24.2% to CHF 1.74 billion in 2020, in local currencies sales decreased by 18.7%. The company achieved an EBIT of CHF 27.8 million (2019: CHF -32.9 million). While the corona virus pandemic – due to temporary production stoppages – led to a market slump in the 1st half (H1) of 2020, the recovery and pent-up demand in H2/2020 were also clearly reflected in Autoneum’s revenue.

At -28.8%, the decline in revenue at Business Group (BG) Europe reflected the regional, pandemic-marred market development. Sales decreased to CHF 641.8 million (2019: CHF 900.9 million) with an EBIT of CHF 21.5 million (2019: CHF 51.0 million).
BG North America’s fall in sales of 24.8% reflected the adverse regional market dynamics. Impacted by the market development sales fell to CHF 753.5 million (2019: CHF 1.002 billion). Significant operational and thus financial improvements were made in 2020 under the ongoing turnaround program. The BG increased its EBIT remarkably to CHF -43.6 million (2019: CHF –134.8 million).
With a sales decline of just -7.8%, BG Asia significantly outperformed the market. It was able to increase its EBIT in 2020 to CHF 22.2 million (2019: CHF 11.9 million).
BG SAMEA (South America, Middle East and Africa) also significantly outperformed the market, which contracted sharply as a result of the corona virus crisis. Due to the strong depreciation of various currencies in this region, sales fell 29.7% to CHF 88.4 million. Through prompt adjustment of costs in response to reduced volumes, BG SAMEA generated a slightly improved EBIT of CHF 10.9 million (2019: CHF 10.7 million).
Global automobile production is expected to increase in 2021 compared to 2020, even though the number of vehicles produced is still not forecast to reach the level of 2019. Autoneum’s revenue development is expected to be in line with the market.

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