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Autoneum Holding Ltd. (Formerly Rieter Automotive) Business Report FY2011
Business Highlights
Financial Overview |
(in CHF million) |
| FY2011 | FY2010 | Rate of change (%) |
Factors | |
| Overall | ||||
| Sales | 1,682.4 | 1,677.5 | 0.3 | 1) |
| EBITDA | 104.2 | 107.2 | (2.8) | - |
Factors
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.
Restructuring
-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
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 |
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