Autoneum Holding AG (formerly Rieter Automotive) Business Report FY2010

Business Highlights

Financial Overview

(in CHF million)

	FY2010	FY2009	Rate of change(%)	Factors
Sales	1,715.4	1,424.3	20.4	+Strongest revenue revovery in North and South America +Strong growth in Asia driven by new orders and recent opening of new facilities in China and India +In Europe volume stabilized and started to rocover in 2010.
EBIT	22.3	(115.8)	-

Further expansion in Emerging markets

-The Company established facilities in emerging markets at an early stage, for example, Latin America and Turkey. In recent years, it has clearly focused on developing its presence in the large Asian markets, China and India. The Company already has a good market position in these countries with Japanese and western manufacturers; customer relationships with local manufacturers are being established.
China: Two new plants were established in 2010. It will have six plants and a research center at the end of 2011.
India: A new plant was established in 2010. It will have two plants at the end of 2011.

-The Company established a third manufacturing facility in the Czech Republic in response to structural changes in Europe.

Restructuring

-Total manufacturing capacity aligned in Europe and North America and 8 facilities have been closed since 2008. The restructuring was virtually completed in 2010.

-The Company sold I.DE.A Institute S.p.A. to Swiss-based investment company Quantum Kapital AG. I.DE.A Institute is an automobile design company in Turin, Italy. Quantum will acquire the parent company in Italy as well as the branch office in China and the activities in Brazil. (From a press release on June 16, 2010)

R&D

R&D Expenditure

(in CHF million)

FY2010	FY2009	FY2008
66	74	81

R&D Structure

Switzerland	Winterthur (HQ)	Acoustics Center, Research and Technology center
	Sevelen	Development Center
France	Aubergenville	Acoustics Center, Development Center
Germany	Rossdorf-Gundernhausen	Acoustics Center
Italy	Desio	Acoustics Center Trucks
	Leini	Development Center
	Santhia	Acoustics Center
USA	Fmarmington Hills, Michigan	Acoustics Center, Development Center
	Chicago Heights, Illinois	Development Center
Brazil	Sao Bernardo do Campo	Acoustics Center, Development Center
China	Shanghai	Acoustics Center, Development Center
Japan	Kita-ku, Tokyo (Nittoku)	Acoustics Center
	Shizuoka (Nittoku)	Acoustics Center

Product development

Rieter Hybrid Acoustics
-This product offers weight reductions of up to 50% compared with a conventional products for engine bay rear bulkhead insulation.

Triform Pattern
-New pattern with 15-20% less weight compared to conventional embossing patterns