Autoneum increased its net sales in local currencies by a significant 10.6% in a stagnating market environment in 2015. Net sales in Swiss francs rose by 6.7% from 1‘954.7 million CHF to 2‘085.9 million CHF despite the strength of the Swiss franc. Thanks to strong production capacity utilization in Europe, material efficiency and increases in productivity, there was a renewed improvement in the operating result in 2015. Based on the unaudited figures it is expected that net profit will be lower than in the previous year despite the improved operating result due to one-time expenses associated with the payment of 31.5 million CHF to the German Federal Cartel Office and a normalization of the tax ratio.
With 88.3 million light vehicles produced and growth of just 1.0%, the global automobile industry recorded the weakest growth momentum in 2015 since the automotive crisis in 2009. While automobile production in Europe, North America and Asia made gains, the production volumes in South America declined on the previous year due to the economic crisis and associated fall in demand. Thanks to a good order situation and corresponding utilization of production capacities, Autoneum increased its net sales in local currencies by 10.6% in 2015 and in doing so significantly outperformed global market growth. Net sales in Swiss francs rose by 6.7% from 1‘954.7 million CHF to 2‘085.9 million CHF despite the strength of the Swiss franc.
Sales growth in almost all regions
Compared with the previous year, three of the four Business Groups considerably increased sales in local currencies and distinctly outperformed market growth. Due to several ramp-ups, the net sales of Business Group Europe rose by 13.1% in local currencies in 2015 and in doing so well exceeded the already dynamic market growth of this region. Business Group North America grew by 8.8% in organic terms in the reporting year thanks to production for high-volume models of US-American and Japanese vehicle manufacturers. Almost all of the 15 best-selling vehicle models in the USA were equipped with Autoneum components. At 20.6%, Business Group Asia once again recorded pronounced sales growth in local currencies which was achieved through extensive series launch for models of international and local automobile manufacturers and growth with Japanese customers in China who were more successful than the average. The sales of Business Group SAMEA (South America, Middle East and Africa) were severely depleted by the slump in the key market of Brazil and fell by 5.7% in local currencies.
Operating result significantly improved
Thanks to the strong utilization of production capacities in Europe, material efficiency and increases in productivity, Autoneum once again clearly boosted its operating result in 2015. The operating margin before one-time expenses associated with the payment of 31.5 million CHF to the German Federal Cartel Office will exceed that of the previous year. However, it is anticipated that despite the improved operating result, the one-time expenses and higher tax expenses resulting from a normalization of the tax ratio will lead to lower net profit compared to the previous year.
New Head Business Group SAMEA
On January 14, 2016, the Board of Directors of Autoneum Holding Ltd appointed Fausto Bigi as Head of Business Group SAMEA (South America, Middle East and Africa) and member of the Group Executive Board. Bigi has long-standing experience in the global automotive supplier industry. He was already in charge of the South America business of the Automotive Systems division of Rieter Holding Ltd from 2008 to 2011 and following the spin-off additionally held office at Autoneum as Deputy Head of Business Group SAMEA until 2012. The Brazilian citizen will take over management of Business Group SAMEA on March 1, 2016, from CFO Dr. Martin Zwyssig, who has been temporarily in charge of it since January 1, 2016. In order to ensure optimum control of the key SAMEA market of Brazil, the headquarters of the Business Group will be transferred from Winterthur, Switzerland, to São Paulo.
The CV and a photo of Fausto Bigi are available for download at
The year-end financial statements and 2015 annual report will be published at the media and financial analysts’ conference on March 3, 2016 in Winterthur, Switzerland.