Winterthur, Switzerland – Autoneum, an acoustic foam supplier to the global auto industry, reported H1 2016 sales of CHF 1.09bn (EUR 1bn), a rise of 7.6% on H1 2015.
EBIT before special effects was CHF 89.9m in H1 2016. The report said Autoneum’s “EBIT margin before special effects improved by 0.6 percentage points year-on-year and hit a new record high of 8.2%.”
Net profit grew from CHF 48.5m reported in H1 2015 to CHF 60.6m before special effects in H1 2016, and to CHF 81.4m including special effects, the report added.
In terms of outlook it said: “Assuming sales growth remains above the market level in the second half of the year, Autoneum expects net sales of up to CHF 2.2 bn for the full year 2016.
“Based on unchanged market conditions in the second half of 2016, an EBIT margin above 8% (before special effects) should also be recorded for the year as a whole,” it added.
In H1 2016, Autoneum reached a net profit of CHF 60.6m before special effects, equalling an increase of 25% on H1 2015 EBIT before special effects of CHF 48.5m.
The firm’s Europe business group “significantly raised its net sales in local currencies” in H1 2016 with net sales in Swiss francs growing by around CHF 27m to CHF 433m - compared to CHF 406.5m in H1 2015.
North American net sales in Swiss francs climbed by 9.4% to around CHF 518m, compared to CHF 473m in 2015, the report said.
“Operationally, the firm's North America business group recorded a successful H1 2016 thanks to strong capacity utilisation and further productivity improvements at the majority of plants as well as low raw material prices,” it added.
The firm’s Asia business group saw net sales grow significantly above market levels in the first half of 2016. Net sales in Swiss francs rose by 16.3% to CHF 99.6m compared to CHF 85.6m in H1 2015.
The report also said: “Despite the decline of the key market of Brazil, net sales for the firm’s business group SAMEA (South America, Middle East and Africa) recorded growth of 11% in local currencies “thanks to gains in market shares in Argentina and higher export volumes in South Africa and Turkey.”
The “massive devaluation of the Brazilian real and the Argentine peso” were blamed for a fall in net sales Brazil and Argentina.
XE Currency conversion: 3 August, 2016