“Lower production volumes and ramp-up costs in North America, as well as the strong expansion in Asia, had a negative impact on earnings, nevertheless the EBIT margin of 7.5% remained at a remarkable level for an automotive supplier,” the company adds.

While the number of vehicles produced in Europe and Asia grew at least moderately compared to the first half of 2017, again fewer vehicles were manufactured in North America than in the prior year period. Correspondingly lower call-offs at Autoneum resulted in a decline in revenue for Business Group North America. This was more than offset by the revenue growth of Business Groups Europe, Asia and SAMEA (South America, Middle East and Africa), which significantly exceeded the market level. This growth was largely driven by supply of high-volume models of European and Japanese vehicle manufacturers in Europe, Asia and the SAMEA region.

Further improvement in the operating result of Business Group Europe and the first-time solid profit contribution of Business Group SAMEA supported the company’s profitability level achieved in the first half of 2018. It was nevertheless characterised by lower production volumes and ramp-up costs in North America and the significant expansion in Asia with numerous production ramp-ups and correspondingly lower profit margins.

Therefore, EBITDA fell to CHF 127.2 million in the first half of 2018, which reduced the EBITDA margin to 11%. EBIT totalled CHF 86.4 million (prior-year period: CHF 94.0 million). The EBIT margin reached 7.5% (prior-year period: 8.4%). At CHF 60.1 million, net profit was at the previous year’s level (CHF 61.7 million).

Investment

Driven by strong customer demand and near maximum utilisation of existing European production capacities, Autoneum invested in a plant in Komárom, Hungary in 2018, making it the sixth production site in Eastern Europe. Since May 2018, multifunctional carpet systems have been produced there in series for a German premium car manufacturer. From the 12000-square-meter plant Autoneum will in the future supply German and British manufacturers with carpet systems, inner dashes and wheelhouse outer liners, as well as other NVH (noise, vibration, harshness) components just-in-time at their nearby production sites in Hungary and Slovakia.

Lightweight textile wheelhouse outer liners produced in Komárom will be used, among others, in a fully electric SUV by a British vehicle manufacturer, thereby contributing to noise and weight reduction of this model.

Carpet Cleanability Analyzer

“In light of new forms of mobility, automobile manufacturers and suppliers are jointly working on the development of innovative technologies for the passenger compartment, which will increasingly be used as a place for work or recreation in the future. Special attention is being paid to components that support a quiet and comfortable driving experience with a low environmental impact at the same time,” the manufacturer says. “Carpet systems in particular play an increasingly important role as they shield the passenger compartment from external noise sources while their dimensions have a decisive influence on the quality perception of a vehicle.”

To enable designing the carpet already during the pre-development of new vehicle models according to the requirements of the passenger compartment, Autoneum has developed the Carpet Cleanability Analyzer. The underlying methodology of this measurement system makes it possible to analyse and compare the cleanability and dirt resistance of different carpet surfaces. Autoneum delivered the first Carpet Cleanability Analyzer to a French vehicle manufacturer in the spring of 2018.

www.autoneum.com