---
title: Updated short- and mid-term outlook
date: 2019-12-09T06:55:50+01:00
author: Daniela Pistor
canonical_url: "https://autoneum.com/news/updated-short-and-mid-term-outlook"
section: News (Detail)
---
A comprehensive assessment by the new Group Management focusing on Business Group North America and taking into account the course of business from January to November 2019 led to a revaluation of the situation. It has become apparent that the problems in North America are not limited to two US plants and deficient ramp-ups there. Accordingly, a comprehensive turnaround program focusing on operational excellence and the improvement of cost structures is being developed and implemented in Business Group North America.

As a result of the slowdown in the automotive industry and the continuing low market level forecasted in the medium term, the cost structure at the Group’s headquarters in Winterthur, Switzerland, has been adjusted, among other things, by selective staff reduction. To further reinforce new mobility activities, they will be concentrated at the Research and Technology Center in Winterthur. This will include the relocation of the Competence Center New Mobility from Sunnyvale (CA), USA, to Winterthur.

Due to the continuing losses of Business Group North America, Autoneum expects a net loss for the financial year 2019 in the high double-digit million range. In addition to current operating losses, this also includes one-time charges from impairments which are not cash-effective. To achieve the Group’s mid-term targets announced in March (“2019 Year of tidying, 2020 Year of transition, 2021 Return to sound profitability level), an additional year will therefore be needed.

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     [  Media Release: Updated short- and mid-term outlook (pdf) ](https://autoneum.com/content/content-images/Documents/191209_Media-Release_Updated-short-and-mid-term-outlook.pdf)
 
 

 

 

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### Ulrike Reich

 Head Corporate Communications

 

   [ corporate.communications@autoneum.com ](mailto:corporate.communications@autoneum.com) 

  [ +41 52 244 83 88 ](tel:+41%2052%20244%2083%2088) 

  

 

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### Bernhard Weber

 Head Financial Services & IR

 

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  [ +41 52 244 82 07 ](tel:+41%2052%20244%2082%2007)