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Industry Talk

Positive result for Autoneum

Acquisition of Borgers automotive business strengthens leadership in lightweight acoustic and thermal management solutions for vehicles.

7th March 2023

Innovation in Textiles
 |  Winterthur, Switzerland

Transport/​Aerospace

Autoneum increased its sales in 2022 by 6.1% to just over CHF 1.8 billion year-on-year, mainly due to inflation-related compensation.

Following the closure of its acquisition of Borgers the company expects revenues of CHF 2.4-2.5 billion in 2023.

It was again not an easy year for the automotive supply industry the company reports, and sharp fluctuations in production volumes as a result of bottlenecks in vehicle manufacturer supply chains continued. They were worsened in Europe by the war in Ukraine, and in China, Autoneum’s most important Asian market, by coronavirus-related lockdowns.

 In addition, there was an increase in energy and raw material prices with a climbing inflation the likes of which have not been experienced in the last 40 years. Despite these difficult conditions, Autoneum managed to post a positive group net result and generate a solid free cash flow of CHF 57.3 million.

With the acquisition of the Borgers automotive business announced in January 2023, Autoneum has taken an important strategic step towards further expanding its leadership with sustainable and lightweight acoustic and thermal management solutions for vehicles.

In addition, Autoneum continues to respond to increasing electrification and a focus on sustainable products via developments such as the new monomaterial needlepunch and tufted carpet systems made entirely of polyester which are completely recyclable and also enable waste and latex-free production.

Autoneum expects global automotive production to increase by 3.3%1 in 2023 compared to 2022.

www.autoneum.com

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