Autoneum: Recovery of global automotive produ...

Recovery of global automotive production


Global automobile production has been recovering faster than expected since this summer. If the positive development continues in the 2nd half (H2) of 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, 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 H1 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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