Autoneum (AUTN) Investor presentation summary

Half-year financial performance

• HY1 2023 revenue CHF 1,102.6 million, up 24.1% reported; organic growth was 10.7% and inorganic growth 20.2%.

• EBIT excluding one-time effects rose to CHF 45.0 million from CHF 12.0 million; margin increased to 4.1% from 1.4%.

• Reported EBIT was CHF 84.9 million, including CHF 109.1 million Borgers bargain purchase gain and CHF 69.1 million in negative one-time effects.

• Net result was CHF 57.8 million versus a CHF 12.8 million loss; free cash flow was negative CHF 93.6 million, or CHF 30.6 million excluding acquisition-related effects.

Business development

• Performance before one-time effects improved across all regions; North America reached near break-even, with CHF 8.7 million from volume growth and CHF 5.8 million from operational improvements.

• Borgers reported a 4.5% EBIT margin excluding one-time effects in Q2 2023; integration was described as on track.

• Global footprint expanded to 67 production facilities and 16,600 employees across 24 countries following the Borgers acquisition, effective April 1, 2023.

Borgers acquisition and integration

• Acquisition rationale included complementary products, technologies and customers, stronger EV offerings, sustainable-material expertise, and a reinforced global market position.

• Planned synergies of CHF 25–30 million are expected to be fully effective in 2025; 2023 integration costs were estimated at CHF 6 million.

• Integration actions included combining Sales and Purchasing functions, renegotiating trade agreements, identifying synergies, and planning capacity consolidation at Ellzee.