Autoneum has posted 2020 Group revenue down 24.2% year-on-year to CHF1. 74bn (US$2bn).

"Autoneum's revenue in local currencies decreased by 18.7% in 2020, pretty much in line with the negative market dynamics," noted a statement from the supplier.

"The somewhat stronger decline of revenue compared to the market results from a lower share of Asia in Autoneum's total revenue. Impacted by the appreciation of the Swiss franc against the most important currencies for Autoneum, consolidated revenue dropped in 2020 by 24.2% to CHF1.74bn.

"The heterogeneous development of the first and second half of the year was characteristic for the pandemic-driven automotive year 2020. Worldwide lockdowns and production stoppages at vehicle manufacturers led to a market slump in the first six months and a corresponding loss in revenue for Autoneum.

"Thanks to the subsequent market recovery and catch-up effects in the second half of the year, revenue improved considerably compared to the first half of the year."

At the Annual General Meeting on 25 March, 2021, the board will propose Liane Hirner and Oliver Streuli for election to the board of directors of Autoneum Holding.

Peter Spuhler will not stand for re-election.

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https://www.autoneum.com/2021/01/21/2020-revenue-development-changes-board-of-directors/

Original source: https://www.autoneum.com/2021/01/21/2020-revenue-development-changes-board-of-directors/