Winterthur, Switzerland – Autoneum’s EBITDA (earnings before interest, tax, depreciation and amortisation) for 2015 were CHF 223m (EUR205.6m) – a 10% increase on 2014.
The firm’s EBITDA figure, however, included the fine of CHF 31.5m it paid to the German Federal Cartel Office, which UTECH-polyurethane.com reported previously.
According to the firm’s annual results, its Asian business group’s sales grew more than 20% in local currencies. “This was achieved through extensive series start-ups for models of international and local OEMs and with Japanese customers who were over-proportionately successful in China,” the report said.
Autoneum’s Europe business group reported a sales increase over 13% in local currencies due to “production ramp-ups” the firm said. The firm’s North America’s business group reported an 8.8% growth rate during 2015.
Business Group SAMEA - South Asia, Middle East and Africa – sales “were decimated by the collapse in the main market Brazil.”
Sales in local currencies declined by 5.7%, due to significant devaluation of the Brazilian real and Argentine peso, the report added.
In terms of outlook, Autoneum said it anticipates a rise in global automobile production of 3% to approximately 91m light vehicles. “Autoneum expects to increase net sales in local currencies in line with its mid-term financial targets by 4% to 5%.”
Autoneum also expects the group’s 2015 operating margin to be exceeded in 2016.
XE currency conversion: 3 March, 2016