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Autoneum Holding H2 profit climbs 38.1% YOY


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Autoneum Holding H2 profit climbs 38.1% YOY

Autoneum Holding AG said its normalized net income for the second half was CHF7.52 per share, an increase of 40.2% from CHF5.37 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was CHF34.4 million, an increase of 38.1% from CHF24.9 million in the year-earlier period.

Total revenue rose 10.0% on an annual basis to CHF1.07 billion from CHF974.1 million, and total operating expenses grew 9.0% on an annual basis to CHF1.00 billion from CHF917.4 million.

Reported net income declined 22.3% year over year to CHF39.0 million, or CHF8.54 per share, from CHF50.2 million, or CHF10.82 per share.

For the year, the company's normalized net income totaled CHF13.25 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of CHF9.13.

EPS rose 23.1% from CHF10.77 in the prior year.

Normalized net income was CHF61.4 million, an increase of 22.8% from CHF50.0 million in the prior year.

Full-year total revenue grew 6.7% on an annual basis to CHF2.09 billion from CHF1.95 billion, and total operating expenses rose 5.9% year over year to CHF1.94 billion from CHF1.84 billion.

The company said reported net income fell 46.5% year over year to CHF42.2 million, or CHF9.10 per share, in the full year, from CHF78.9 million, or CHF16.97 per share.