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Swiss firm Autoneum expects EBIT margin to improve to 2-3% in 2022

17
Jun '22
Pic: Autoneum
Pic: Autoneum
For the first half of 2022, Autoneum is expecting an EBIT margin at break-even level. On the basis of the ongoing collaborative discussions with customers to participate in the sharing of the sharply increased energy and material costs, Autoneum anticipates an improvement in the EBIT margin to 2.0 to 3.0 per cent (previously: 4.0 to 5.0 per cent) for 2022.

Due to the impact of the war in Ukraine on the automotive industry and vehicle production as well as of rising inflation, Autoneum is adjusting its corporate outlook for the 2022 financial year. The market recovery will be delayed by current developments.

Since the outbreak of war in Ukraine, new bottlenecks in global supply and logistics chains have been impacting vehicle manufacturer production volumes and thus slowing the revenue and earnings development of the automotive supply industry, especially in Europe. Current developments are accompanied by accelerated inflation and significant price increases on the commodities markets, which have been further exacerbated by the war. These are felt at Autoneum through rising material, energy and transport costs. With regard to the rising costs, automotive manufacturers and suppliers are now required to ensure a fair burden sharing as partners.

Autoneum is very well positioned for the transformation of the automotive industry towards e-mobility and sustainability. The product portfolio is suitable for all drive types, whether internal combustion, hybrid or pure electric vehicles. The medium-term forecasts that Autoneum published in November 2021 remains unchanged positive. The timing of the market recovery will be delayed by current events and will also depend on further geopolitical developments.

Fibre2Fashion News Desk (RR)

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