Autoneum Holding Ltd. (Formerly Rieter Automotive) Business Report FY2011

Business Highlights 

Financial Overview

(in CHF million)
  FY2011 FY2010 Rate
of change (%)
Sales 1,682.4 1,677.5 0.3 1)
EBITDA 104.2 107.2 (2.8) -

1) Overall
-The Company's sales in local currencies rose 15% during the 2011 business year, considerably more than worldwide automobile production, due to the high production volume and substantial new customer orders.

-Sales in local currencies increased strongly in all regions, particularly strong in North America and Asia despite, setbacks due to natural disasters in Japan, USA and Thailand.


-Rieter Holding Ltd. announced a split of the Group by separating the Automotive Systems and Textile Systems divisions into independent listed companies. The name of the new Automotive Systems division will be Autoneum Holding Ltd. Rieter Holding Ltd. will continue the existing business of Rieter's Textile Systems division. (From a press release on April 13, 2011)

Cost management policy

-Due to currency turbulence and the natural disasters in Japan, Thailand, and the USA, the profitability improvement plan was not yet fully implemented. Significant progress was however made in reducing employee and other operating expenses. A strict cost management, an increase in productivity as well as a shift of production capacities to low-cost locations have considerably contributed to these improvements. Nevertheless, the still-high raw-material prices could not be passed on in full to customers. The Company continues to focus intensively on improving productivity through its Operational Excellence initiative at all locations, particularly in Europe.


R&D Expenditure

(in CHF million)
FY2011 FY2010 FY2009
Overall 58 66 74

-The focus in 2011 was the development of acoustic solutions, underbody components and carpets for new models and customer specific requests from automobile manufactures in Europe, America and Asia.

R&D Structure

-The Company has about 400 R&D employees group-wide.
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 for Trucks
-Development Center for Truck
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.

Investment Activities

Capital Expenditure

(in CHF million)
  FY2011 FY2010 FY2009
Overall 75.3 72.4 56.2

Investments Outside Switzerland
-The Company opened new plant in Shenyang, Liaoning Province, China to supply heat shields and acoustic insulation components. The company is now present in the Chinese market with five production plants and a development center.

<Czech Republic>
-In Bor, Czech Republic, the Company installed production capacities in the first half-year of 2011. Production will start from fall in 2011.

Investments in Switzerland

-In Sevelen, the Company established a production plant for lightweight underfloor systems employing the new Rieter Ultra Silent (RUS) fiber technology.