Winterhur, Switzerland -- Autoneum increased sales and local currencies by 4% to CHF 1.17 billion in the first half of 2017, the company said in late July.
Autoneum sales inch forward in H1 2017
The firm, which makes automotive seating components said that its European business group saw sales increase slightly to CHF 129 m compared with 124 m in the first half of 2016. Earnings before interest and taxes before special events rose from CHF 90 m in the first half of 2016 to CHF 93.1 m in the first of 2017.
In North America falling production volumes in the US and Canada markets lead to a 1.4% sales decline in that region. The firm said it was only take a small part in the growth in the Mexican market as it was building a factory there.
Autoneum said the Asian business group saw net sales rise 14% to and CHF 109 m compared to CHF 99 in the corresponding half of 2016.
In South America Middle East and Africa, 30% sales growth was seen in local currencies with higher-order volumes in Brazil and Argentina as well strong export volumes to Turkey.
The company says that it has invested incapacity including production lines in Jeffersonville, Indiana, and new plant in St Louis Potosi, Mexico. Also in North America Autoneum opened a new technical centre in Novi Michigan. This will be used for pre-development studies for customers as well making noise- and heat- reducing vehicle components, the company said. Autoneum added that in China it is expanding to support sales there. The firm said that market shares gains have been achieved in the first six months of 2017.
Looking ahead to the rest of the year, Autoneum says that further softening demand in North America in the second half means the sales growth is likely to be above the market but below the annual target of 4 to 5%.