Coronavirus pandemic massively impacts course of business of Swiss Autoneum

The corona pandemic has a significant impact on the global economy and thus also on the global automotive industry. The temporary plant closures at almost all customers in all regions will result in a revenue decline at Autoneum in the current year, the extent of which cannot yet be estimated.

In addition to the ongoing cost-saving programs, Autoneum has therefore decided on a compre- hensive set of measures to further increase the flexibility of personnel and material expenses. This includes staff adjustments, e.g. by reducing the number of temporary employees in plants. In addi- tion, short-time work at the Swiss sites, the Group’s headquarters in Winterthur and at the Sevelen plant (canton of Sankt Gallen), as well as short-time work in some other European countries and temporary closures of production facilities in various regions in line with those of customers are be- ing implemented. With these measures, Autoneum is at the same time making its contribution to protecting the workforce, breaking chains of infection and containing the spread of this pandemic.

Despite the above-mentioned countermeasures and in light of the advancing spread of the coronavirus, Autoneum does not expect to achieve its targets for the business year 2020. Due to the considerable uncertainties regarding the course and duration of the pandemic, no updated out- look is provided for 2020 for the time being.

Autoneum is globally leading in acoustic and thermal management for vehicles. The Company develops and produces multifunctional, lightweight components and systems for interior floor and engine bay as well as the underbody. Customers include almost all automobile manufacturers in Europe, North & South America, Asia and Africa. Autoneum operates 55 production facilities and employs around 13000 people in 25 countries.

The Company with its headquarters in Winterthur, Switzerland, is listed on the SIX Swiss Exchange (ticker symbol AUTN).