Autoneum has posted 2019 revenue up 2.5% organically to CHF2.3bn (US$2.4bn) in a declining market.

"For the second consecutive year, fewer vehicles were manufactured worldwide in 2019 than in the prior year," said an Autoneum statement.

"In particular, the persistently weak global economy and ongoing trade disputes have had an impact on vehicle demand. With only about 89m vehicles produced, the market shrank by almost 6% compared to 2018.

"Despite this negative trend, Autoneum achieved an organic revenue growth of 2.5% through numerous production ramp-ups and a favourable mix of vehicle models supplied."

Business Groups, North America, Asia and SAMEA (South America, Middle East and Africa) outperformed the negative market trend in each case and reported higher revenues compared to the previous year, added Autoneum.

In Europe, the drop in automobile production caused a decline in revenue of the corresponding Business Group by 5.6% in local currencies.

Business Group North America improved its revenue by 7.2% on a currency-adjusted basis, primarily driven by various production ramp-ups of German and Japanese vehicle manufacturers.

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