Autoneum Holding Ltd

Latest Results (14.08.2024):

Revenue Growth

Autoneum Holding Ltd reported a significant increase in revenue for the full year 2023. Revenue in local currencies grew by 34.8% compared to the previous year, driven by both organic and inorganic growth. When consolidated in Swiss francs, the revenue increased by 27.6% to CHF 2302.3 million. This growth was bolstered by the acquisition of Borgers Automotive, which contributed positively to the earnings.

Profitability Improvement

Autoneum Holding Ltd saw a substantial improvement in profitability in 2023. EBIT adjusted for one-time effects more than doubled year-on-year to CHF 99.2 million, achieving an EBIT margin of 4.3%. The net profit for the year increased by CHF 50.2 million to CHF 61.1 million. This improvement was attributed to strategic initiatives and efficiency gains, particularly in Business Group North America.

Dividend Proposal

Based on the positive financial results for 2023, the Board of Directors of Autoneum Holding Ltd is proposing a dividend of CHF 2.50 per share. This proposal aligns with the company's long-term dividend policy and represents 30% of the profit attributable to Autoneum shareholders for the 2023 financial year. The dividend proposal will be presented at the Annual General Meeting on April 9, 2024.

Net Debt Reduction

Autoneum Holding Ltd successfully reduced its net debt in 2023. Excluding leasing liabilities, net debt fell by CHF 74.5 million, amounting to CHF 177.8 million as of December 31, 2023. This reduction was achieved through a combination of higher net profit and a capital increase of CHF 101.1 million, which also improved the equity ratio to 32.1% despite significant currency losses.

Strategic Acquisitions and Turnaround

The acquisition of Borgers Automotive was a significant strategic move for Autoneum Holding Ltd in 2023. This acquisition contributed to the company's revenue and profitability growth. Additionally, Business Group North America achieved a turnaround, with an operational break-even before special effects and an EBIT margin of 1.3%. These strategic initiatives have laid a strong foundation for future growth and profitability.