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Autoneum, the global leader in acoustic and thermal solutions for vehicles, is now facing a new market. The expected disappearance of combustion engines and the arrival of electric and hybrid vehicles is forcing it to alter its offering. “Autoneum should expect some of its products, such as noise and heat insulators for combustion engines, to gradually become obsolete. However, it will win new markets,” states Michal Lichvar from Vontobel bank. “In electric vehicles there are other noises, such as those made by the chassis. Autoneum develops a whole range of parts, including vehicle underbodies which also enhance aerodynamics.”
This solidly-managed company is considered extremely innovative, as much for its production processes as its constant development of new products, which are increasingly light and more noise absorbent. Moreover, they use more and more parts made from recycled materials. “Autoneum’s leading position enables it to substantially outperform its competition in terms of R&D,” asserts analyst Torsten Sauter from Kepler Cheuvreux. “We expect growth above the market average, of 4% to 5%, with an EBIT margin of over 8%.” There is still the difficult economic situation in the US to overcome, where vehicle sales are falling and Autoneum is particularly exposed in terms of production. This latter aspect has momentarily inspired restraint among analysts, even though the company’s fundamentals are not in question.