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Autoneum Annual Report 2015
Letter to shareholders
2
Strong sales growth –
further increase in
profitability
Operational excellence, innovation leadership
and the globally balanced production network
of Autoneum have once again paid off in the
past financial year: Despite a challenging market
environment with corresponding economic
headwinds triggered by a slump in demand in
South America and Russia, Autoneum not
only increased sales remarkably but was also
operationally more profitable than ever.
Notwithstanding the lower year-on-year net
profit due to non-recurring expenses and
a normalized tax ratio, the Board of Directors
proposes an unchanged dividend of CHF 4.50
per share.
Strong sales growth in weak market
environment
With 88.6 million light vehicles produced and
a growth rate of only 1.4%, the global automotive
industry in 2015 recorded its weakest growth
momentum since the automotive crisis of 2009.
While automobile production in Europe, North
America and Asia grew, production volume in
South America decreased due to the economic
crisis and the related drop in demand over
the previous year. In this low-impulse market
environment, Autoneum was able to increase
net sales in local currencies by 10.6% and thus
significantly exceeded global market growth
thanks to a good order situation and the corre-
Dear shareholders