The global automobile production has been recovering faster than expected since this summer. If the positive development continues in the 2nd half of 2020 (H2/2020), the decline in sales at automotive supplier Autoneum Management AG, Winterthur/Switzerland, could be only around -5% in local currencies compared to 2019. For fiscal year 2020, a decline in sales in local currencies of around -20% is expected.
Based on this development of sales, the extensive cost reduction measures taken in response to the Covid-19 crisis and the on-schedule progress of the turnaround in North America, an EBIT margin of 4-5% is expected for the H2/2020 and a slightly positive EBIT margin for 2020 as a whole.
The outlook for 2021 and especially the 1st half-year remains uncertain and depends strongly on how the pandemic will develop. According to forecasts, global vehicle production in 2021 will still not reach the level of 2019.