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Switzerland's Autoneum posts net income of CHF 10.9 mn in FY22

03 Mar '23

1 min read

Pic: Autoneum

Autoneum, a Swiss-based leading acoustic and thermal management supplier for vehicles, has posted a net result of Swiss franc (CHF) 10.9 million in fiscal 2022 (FY22). The company’s revenue in local currencies increased by 8.5 per cent (6.5 per cent in Swiss francs). However, the company's EBIT fell compared to the previous year, declining from 3.4 per cent to 2 per cent.

In FY22, business group Europe's revenue rose by 2.7 per cent, while business group North America increased its revenue by 11 per cent. Revenue in business group Asia declined by 2.7 per cent, as Autoneum’s production locations in China, its main market, are in regions that were particularly affected by the coronavirus-related lockdowns. Business group South America, Middle East, and Africa (SAMEA) posted hyperinflation-adjusted revenue growth in local currencies of 65.2 per cent, the company said in a press release.

In the Europe, Asia and North America regions, Autoneum’s production volumes developed below market level.

The company generated a free cash flow of CHF 57.3 million in FY22.

Looking forward, Autoneum expects total revenue of CHF 2.4-2.5 billion for fiscal year 2023, with an EBIT margin of 3.5-4.5 per cent and a free cash flow in the higher double-digit million range.

Fibre2Fashion News Desk (DP)