{"id":25550,"date":"2019-12-09T06:55:22","date_gmt":"2019-12-09T05:55:22","guid":{"rendered":"https:\/\/www.autoneum.com\/?p=25550"},"modified":"2020-03-23T13:07:59","modified_gmt":"2020-03-23T12:07:59","slug":"updated-short-and-mid-term-outlook","status":"publish","type":"post","link":"https:\/\/www.autoneum.com\/zh-hant\/2019\/12\/09\/updated-short-and-mid-term-outlook\/","title":{"rendered":"Updated short- and mid-term outlook"},"content":{"rendered":"

Following an in-depth analysis of the current business situation conducted by the new Group Management, Autoneum expects a net loss in the high double-digit million range for the full year 2019 due to the situation in North America and related one-time charges from impairments. Therefore, achieving the communicated mid-term targets will take more time.<\/strong><\/p>\n

A comprehensive assessment by the new Group Management focusing on Business Group North America and taking into account the course of business from January to November 2019 led to a revaluation of the situation. It has become apparent that the problems in North America are not limited to two US plants and deficient ramp-ups there. Accordingly, a comprehensive turnaround program focusing on operational excellence and the improvement of cost structures is being developed and implemented in Business Group North America.<\/p>\n

As a result of the slowdown in the automotive industry and the continuing low market level forecasted in the medium term, the cost structure at the Group\u2019s headquarters in Winterthur, Switzerland, has been adjusted, among other things, by selective staff reduction. To further reinforce new mobility activities, they will be concentrated at the Research and Technology Center in Winterthur. This will include the relocation of the Competence Center New Mobility from Sunnyvale (CA), USA, to Winterthur.<\/p>\n

Due to the continuing losses of Business Group North America, Autoneum expects a net loss for the financial year 2019 in the high double-digit million range. In addition to current operating losses, this also includes one-time charges from impairments which are not cash-effective. To achieve the Group\u2019s mid-term targets announced in March (\u201c2019 Year of tidying, 2020 Year of transition, 2021 Return to sound profitability level), an additional year will therefore be needed.<\/p>\n<\/div>

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Media<\/h2><\/div>

Dr Anahid Rickmann
\nHead Corporate Communications & Responsibility
\nT +41 52 244 83 88<\/a>
\nmedia.inquiry@autoneum.com<\/a><\/p>\n<\/div>

<\/div><\/div><\/div>

Investors and Financial Analysts<\/h2><\/div>

Bernhard Weber
\nHead Financial Services & IR
\nT +41 52 244 82 07<\/a>
\ninvestor@autoneum.com<\/a><\/p>\n<\/div>

<\/div><\/div><\/div>

Downloads<\/h2><\/div>
Media Release: Updated short- and mid-term outlook (English, PDF)<\/span><\/a><\/div>
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