Autoneum sales in local currencies rose 15% in 2011, outperforming the 2.9% growth in global automobile production, while sales in Swiss francs grew modestly to 1’722.4 million CHF. Despite numerous adverse impacts, Autoneum expects a small improvement of the EBIT margin for 2011 compared with prior year and a slightly positive net result – as already announced last summer. Furthermore, the Autoneum Group Executive Board will be strengthened per March 1, 2012.
Autoneum sales for the business year 2011 rose 15% in local currencies thanks to strong local growth in all regions. Sales in Swiss francs, which strengthened against most other currencies, rose only slightly to 1’722.4 million CHF. Due to seasonal effects and continued decline of the Euro and US dollar against the Swiss franc, Autoneum sales for the second half of 2011 were lower than in the first six months as expected.
Worldwide vehicle production in all major economic regions except Japan increased by 2.9% to 76.6 million automobiles during the year under review.
Positive development in regional markets
Autoneum sales in local currencies exceeded the prior year figures in all regions, greatly outperforming automobile production development and strengthening our market positioning thereby. Autoneum sales growth was particularly strong in North America and Asia despite setbacks due to the Japanese earthquake and tsunami, flooding of the biggest US Autoneum plant, and the flood disaster in Thailand.
The year-end financial statements and annual report for 2011 will be presented at the financial media and analyst conference on March 20, 2012 in Winterthur.
Autoneum Group Executive Board strengthened
On February 2, 2012 the board of directors of Autoneum Holding AG, Winterthur, appointed Volker Eimertenbrink per March 1, 2012 as new head of the Business Group South America, Middle East, Africa (SAMEA) and member of the Autoneum Group Executive Board. He takes over as planned from Martin Hirzel, who as CEO also headed Business Group SAMEA ad interim after Autoneum went public. Volker Eimertenbrink, German citizen aged 52, holds an MSc in engineering and joined the Rieter Group in 2008 as CFO Automotive Systems Division. He has accumulated years of engineering, production and controlling know-how in the automotive supply industry. His detailed CV is available for download in the Press Kit.