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Industry Talk

Autoneum sales signal automotive recovery

Supply chain bottlenecks easing in Europe and North America.

23rd August 2023

Innovation in Textiles
 |  Winterthur, Sitzerland

Medical/Hygiene

Autoneum’s consolidated revenue increased by 24.1% in the first half of 2023, from CHF 888.7 million to CHF 1,102.6 million.

The increase is attributed by the company in part to a recovery of the automotive markets in Europe and North America, and also to the acquisition of Germany’s Borgers.

There has been an easing of supply chains and a rise in production volumes among vehicle, especially in markets that were previously being heavily impacted by supply chain bottlenecks, the company says.

Global vehicle production climbed by 11.8% compared to the first six months of 2022, although consumer demand is being dampened by high vehicle prices in some markets.

The Borgers units – consolidated for the first time in the second quarter of 2023 – made a positive contribution to Autoneum’s overall result from day one. As a result of the acquisition, it now operates 67 production facilities worldwide and employs around 16,600 people in 24 countries.

All Autoneum business units improved their profitability and EBIT increased by CHF 33 million to CHF 45 million.

According to the current S&P market forecasts, global automotive production will climb by 5.7% in 2023 compared to 2022. Customer negotiations are ongoing and Autoneum expects that its increase in costs for raw materials, energy, transportation and staff will be completely offset in the second half of the year. As a consequence, it is anticipating total revenue of between CHF 2.4-2.5 billion at unchanged exchange rates for the full year 2023.

Electrification

Vehicle electrification continues to be a key topic across Autoneum’s markets and the company is already producing components developed specifically for electric vehicles that enable a higher driving range due to their their low weight, while at the same time meeting the latest acoustic requirements.

With Ultra-Silent Tune, the company has delivered another innovation for sustainable noise protection to market. The new lightweight and eco-friendly technology for underbody shields significantly reduces the noise from tyres thanks to the addition of chamber resonators. The noise-absorbing technology is made entirely of polyester and not only reduces noise pollution, but substantially improves driving comfort in electric vehicles, while being suitable for full recycling.

www.autoneum.com

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