WINTERTHUR, Switzerland, January 20, 2023-

Production volumes in the automotive industry increased significantly in fiscal year 2022 for the first time since 2020, but did not quite reach the level of 2019. Autoneum’s revenue in local currencies increased by 8.5%. In Swiss francs, Group revenue increased by 6.1% year-on-year to CHF 1 804.5 million. A slight decline was recorded in production volumes. The increase in revenue resulted from inflation-related compensation.

For the first time in two years, global automotive production recorded a significant increase in full-year 2022 with 82.0 million vehicles produced (2021: 77.2 million vehicles) and growth of 6.2%, driven by the regions Asia and North America, but remained below 2019 levels. Autoneum’s revenue in local currencies increased significantly by 8.5%, largely due to inflation-related compensation. In the regions Europe and Asia, Autoneum’s production volumes developed below market. Compared to the July 2022 estimate, revenue was around CHF 90 million lower than assumed due to volume factors. The strong fluctuations in production volumes due to vehicle manufacturer supply chain issues continued in 2022 and were exacerbated by the war in Ukraine in Europe and by COVID-related lockdowns in Autoneum’s Asian main market China. Consolidated revenue in Swiss francs increased by 6.1% year-on-year to CHF 1 804.5 million (2021: CHF 1 700.4 million) due to the strong Swiss franc.

Nonwovens Markets subscribers - click here to read the full article.

Not a subscriber?

Try Nonwovens Markets free!