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Fibres/​Yarns/​Fabrics

Autoneum reports increases in sales and profitability in first half 2015

In terms of profitability and earnings, Autoneum hit new peaks thanks to the high production capacity utilization and lower raw-material prices in Europe.

22nd July 2015

Innovation in Textiles
 |  Winterthur

Interiors, Transport/​Aerospace

Despite a stagnating market environment, successful launches of large volume car models in Europe and North America, as well as the strategy-driven growth with international and Chinese OEMs in Asia led to increases in sales and earnings, the company reports.

Growth rates

Autoneum recorded significant growth rates in sales in the first half of 2015. The company increased net sales in local currencies by 6.3%. Autoneum thereby outperformed the development of global automobile production, which only increased moderately compared with the previous-year period by 0.9% to 44.8 million light vehicles, the company reports.

In terms of profitability and earnings, Autoneum hit new peaks thanks to the high production capacity utilization and lower raw-material prices in Europe, as well as new model launches in North America and efficiency increases in Asia. EBITDA grew by 9.0% to 108 million CHF in the first half of 2015.

Net profit before taxes rose by 7 million CHF to 65.4 million CHF despite the currency-related lower financial result. Net profit increased from 40 million CHF to 48.5 million CHF. Following the deduction of the nonrecurring expenses caused by the settlement with the German Federal Cartel Office, net profit came to 17 million CHF.

Innovation and expertise

In the reporting period, Autoneum has also demonstrated its expertise in multifunctional and lightweight products for vehicle interior floors. The new Clean-Tuft technology served to expand the product portfolio in the area of high-quality carpeting.

With its Prime-Light product innovation, Autoneum this year launched a technology for inner dashes and floor insulators in 2015. It is the latest advancement of Autoneum’s successful Ultra-Light technology.

In June 2015 the Automotive Acoustics Conference staged under the scientific leadership of Autoneum took place in Zurich, Switzerland. At the specialist event in vehicle acoustics over 200 experts from 20 countries discussed the challenges associated with new regulations and the latest developments in the treatment and optimization of vehicle acoustics.

Business groups

BG Europe increased its net sales in local currencies by a significant 6.9%. At 5.1%, the sales growth of BG North America in local currencies also outperformed market growth. Net sales in the reporting currency rose by 8.9% to 473.1 million.

With an increase of 21.4% in local currencies, net sales of BG Asia once again grew significantly above market in the first half of 2015. Net sales in Swiss francs rose by 28.4% to 85.6 million CHF.

Net sales of BG SAMEA (South America, Middle East and Africa) decreased by 8.4% in local currencies. Due to the significant devaluation of the Brazilian real and the Argentine peso, net sales in Swiss francs fell by 20.1% to 48.2 million CHF.

Outlook

Autoneum expects to be able to continue the sales growth in local currencies in the seasonally weaker second half of the year and to achieve a sales increase for the full year above the 4–5% forecasted in March.

Based on the significant improvement in the operating margin of Business Group Europe and the performance of Business Groups North America and Asia, it can be expected that the EBIT margin also in the second half of the year will turn out better than in the second semester 2014, the company reports.

www.autoneum.com

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