Sales growth in a strongly declining market

25.07.2019 In spite of the weak global macroeconomic environment and a sharp decline in global light vehicle production, the automotive supplier Autoneum Management AG, Winterthur/Switzerland, was able to increase its sales by 1.9% in local currencies in the first 6 months of 2019 (H1/2019) compared to the same previous year period.

© Photo: Autoneum
At CHF 1.16 billion, sales in Swiss francs were equal to those of the previous year. All 4 Business Groups (BG) outperformed the market. The turnaround program in North America is showing progress, but the persisting operational inefficiencies at 2 US plants continue to impact the profitability of the entire group. Accordingly, EBIT fell to CHF 16.4 million (H1/2018: CHF 86.4 million).
A decline in global automobile production is forecast for the entire year of 2019. In this challenging environment, Autoneum anticipates that it will also achieve a slight organic increase in sales in H2/2019. Furthermore, and in view of the stabilization of BG North America, an improved operating result is to be expected in H2.