Autoneum: 6.1 % increase in sales in 2022

6.1 % increase in sales in 2022

(Source: Autoneum)
(Source: Autoneum)

For the first time since 2020, global automotive production recorded growth (+6.2%) with 82 million vehicles produced, but not yet back to pre-pandemic levels. Automotive supplier Autoneum Management AG, Winterthur/Switzerland, increased its 2022 sales by 6.1% to CHF 1.80 billion. In local currencies, an increase of 8.5% was even achieved. A slight decline was recorded in production volumes. The increase in sales resulted from inflation-related compensations.
In the regions Europe and Asia, Autoneum's production volumes developed below market. Compared to the July 2022 estimate, revenue was around CHF 90 million lower than assumed due to volume factors. The strong fluctuations in production volumes due to vehicle manufacturer supply chain issues continued in 2022 and were exacerbated by the war in Ukraine in Europe and by Covid-related lockdowns in Autoneum's Asian main market China.
In local currencies, sales of Business Group (BG) Europe increased by 2.7%, while production volumes of vehicle manufacturers decreased by 1.3%. The growth in revenue resulted from inflation compensation, while Autoneum's production volumes were significantly lower compared to the previous year. BG North America increased its revenue in local currencies by 11.0%. The number of vehicles produced increased by 9.7% year-on-year. Volume development at Autoneum’s North American plants clearly improved compared with 2021 due to the allocation of semiconductors to the vehicle models supplied by Autoneum.
Revenue of BG Asia declined by 2.7% in local currencies, and thus was significantly below the market (+7.7%). Autoneum's production facilities in its main market China are located in regions that were hit particularly hard by the Covid-related lockdowns. Growth in China was also driven by Chinese vehicle manufacturers, with whom Autoneum generated only little revenue last year.
BG SAMEA (South America, Middle East and Africa) achieved hyperinflation-adjusted revenue growth in local currencies of 65.2% year-on-year. This increase was mainly due to inflation compensation and in terms of volume slightly outperformed the market, which grew by 7.5%.

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