From the Sector

Net result impacted by operating losses and high impairments in North America

In 2019, Autoneum grew organically by 2.5% and has thereby significantly outperformed the declining market. In Swiss francs, revenue rose slightly to CHF 2 297.4 million. However, as previously communicated, operational inefficiencies in North America and impairments on fixed assets in that region had a particularly strong impact on profitability and led to a net loss of CHF –77.7 million. The Board of Directors therefore proposes that no dividend bedistributed for the 2019 financial year. Based on the new turnaround program launched in North America at the beginning of this year, significant profitability increases are expected for 2020.

2019 was an extremely challenging year for the automobile industry. The continuing weakness of the global economy, ongoing trade disputes and the increasing regulation of mobility impacted vehicle demand negatively. But 2019 was also a year of change for Autoneum internally. An in-depth analysis carried out by the new Group Management in the fall showed a need to reevaluate the Group’s performance over the short- to medium-term. In Business Group North America, the operational and commercial problems have proven more extensive than originally assumed. As a result, the turnaround program launched in spring 2019 was replaced at the beginning of 2020 with a dedicated and far more comprehensive program for the North American sites.

Revenue growth despite a shrinking global market
As a result of weak demand, the number of light vehicles produced worldwide fell again sharply in 2019 compared to the previous year; whereby the decline of almost –6% was much steeper than in 2018. Thanks to numerous production ramp-ups and a favorable model portfolio, Autoneum generated organic revenue growth1 of 2.5%, despite the global market cooling. Revenue consolidated in Swiss francs rose by 0.7% from CHF 2 281.5 million to CHF 2 297.4 million.

Profitability2 impacted by operational inefficiencies and impairments
Operational inefficiencies in North America and impairments on fixed assets in this region were the main reason for the – first-ever – negative net result in 2019. In addition, the sharp drop in automobile production in Europe and China as well as associated lower utilization of production capacities in the affected Business Groups also burdened the Group’s profitability. EBITDA excluding IFRS 16 effects decreased to CHF 126.0 million (2018: CHF 197.2 million), which corresponds to an EBITDA margin of 5.5% (2018: 8.6%). One-time charges from impairments in the amount of CHF –68.0 million had a negative impact on EBIT, reducing it to CHF –32.9 million (2018: CHF 114.1 million). Without these one-time charges, EBIT amounted to CHF 35.0 million. The EBIT margin 1 Change in revenue in local currencies, adjusted for hyperinflation. 2 The figures for the 2019 financial year include IFRS 16 effects. Autoneum Management Ltd . Media Release . March 4, 2020 Page 2/5 excluding impairments was at 1.5% in 2019, and taking those into account the margin decreased to –1.4% (2018: 5.0%).

The conference on sustainability in production, trade and consumption will take a second round: On March 24, 2020, the Weser-Kurier’s conference SUSTAIN will take place in the run-up to the International Cotton Conference once more. The Bremen Cotton Exchange is again cooperating partner of this event. The theme “City and Change – the Future of the Textile Retail Trade” is on focus this year.

Shirt and trpousers or blouse and skirt – clothing is an instrument of expression, a social must and a major factor of consumption. Internet and debates on climate change have changed the indicators. On the one hand, textile online trade is booming, while local stores have come under pressure to an increasing degree and cities are on the search for new ideas. On the other hand, consumers increasingly ask for products considering aspects of fairness and ecology during production. Manufacturers and stores have to react. These subjects are on focus during the Sustain that takes place on Tuesday, March 24, 2020 in Bremen in the Glocke.

Exciting keynote speakers and panel guest from fashion, science and the textile industry
Sustain will feature outstanding speakers from the economy, politics and society discussing for instance the possibilities of new techniques in stationary retail trade, the compatibility of fair production with business interests of manufacturers as well as the question whether consumers are willing to pay the additional costs of sustainability. These are themes that influence the vitality of the cities just as the purchase decisions of the consumers.

Prof. Dr Niko Paech, Professor of Economics, Wolfgang Krogmann, Advisory Director Primark, Urs-Stefan Kinting, Managing Partner of the Zero Group, Model & TV Presenter Alena Gerber, Rolf Heimann, CEO Hessnatur Stiftung, Kai Falk, Managing Director Communication of the German retail association Handelsverband Deutschland and many others confirmed their participation.

Riri and Coeurdor announce that they are creating the largest metal accessories group dedicated to the high-end luxury brands. The combination of the two companies will result in a unique value proposition, offering the full range of metal trims. This will allow luxury brands to simplify their supply-chain and benefit from unique innovation capabilities, including new technology like 3D printing and stainless steel. They will also rely on a production network that spans from France, Italy, Switzerland to Portugal, offering maximum flexibility and security of supply adapted to the fashion market requirements.

Founded in 1951 and headquartered in Maîche (France), Coeurdor is a manufacturer of metal accessories for the luxury industry. The company is specialized in surface finishings and manufacture of metal products for Luxury leather goods, with production facilities in France and Portugal. The company is well-known for the quality of its products, its innovation capabilities and strong customer relationships.

Founded in 1936 and headquartered in Mendrisio (Switzerland), Riri is a well-known brand, producing zippers and buttons, through Riri and Cobrax brands, mostly for the high-end luxury market. Riri is the privileged choice of many brands in light of high quality of the creations released season after season, ever-ending effort in terms of innovation, personalization of details and high service levels. The company has a world commercial presence, with commercial offices in Paris, New York City, Los Angeles, Hong Kong and Shanghai and four manufacturing sites across Switzerland and Italy.

Robert Jeambrun, Chairman of Coeurdor said: “We are very excited to open this new chapter of our history together with Riri. We believe the two organizations share the same values, including a focus on innovation and dedication to high service levels for our customers. Crossing our path with Riri will enable us to continue our growth story and increase our financial means, becoming the supplier of choice of high-end luxury brands.”

Renato Usoni, CEO of Riri Group said: “We are welcoming the Coeurdor family. The alliance of the two groups will create a new leader in the market with a unique business model and industrial means capable of supplying all metal pieces needed by our clients, from zippers to buttons and metal trims, all at once. The combined offering will be highly synergetic and will allow our clients to better industrialize their supply chains and benefit from unique innovation capabilities.”

Die Organisatoren der CHIC Shanghai Fashion Fair teilten mit, dass die diesjährige Messe verschoben werden muss. Die ursprünglich vom 11. bis 13. März geplante Messe wurde angesichts der Notwendigkeit zur Prävention und Bekämpfung der neuen Coronavirus-Infektion bis auf Weiteres abgesagt. Ein neuer Termin wurde noch nicht bekannt gegeben.

Thanks to numerous new ramp-ups and the favorable portfolio of vehicle models supplied, Autoneum grew organically by 2.5% in a declining market. Adjusted for currency effects, Group revenue in Swiss francs amounted to CHF 2 297.4 million, 0.7% higher compared to the previous year.

For the second consecutive year, fewer vehicles were manufactured worldwide in 2019 than in the prior year. In particular, the persistently weak global economy and ongoing trade disputes have had an impact on vehicle demand. With only about 89 million vehicles produced, the market shrank by almost –6% compared to 2018. Despite this negative trend, Autoneum achieved an organic revenue growth of 2.5% through numerous production ramp-ups and a favorable mix of vehicle models supplied. Revenue consolidated in Swiss francs rose by 0.7% from CHF 2 281.5 million to CHF 2 297.4 million.

Revenue growth in North America, Asia and SAMEA region significantly above market The Business Groups North America, Asia and SAMEA (South America, Middle East and Africa) not only outperformed the negative market trend in each case, but also reported higher revenues compared to the previous year. In Europe only, the drop in automobile production caused a decline in revenue of the corresponding Business Group by –5.6% in local currencies. Business Group North America improved its revenue by 7.2% on a currency-adjusted basis, primarily driven by various production ramp-ups of German and Japanese vehicle manufacturers. Despite considerably fewer vehicles being produced in Asia, the Business Group increased its revenue in local currencies by 8.1% thanks to high-volume and new programs of European and Asian automobile manufacturers. Business Group SAMEA continued its growth course. Against the market slump in this region, revenue in local currencies and adjusted for inflation rose by 32.7%. This was mainly due to high-volume export programs in Turkey and South Africa as well as much higher production volumes compared to the previous year in the key SAMEA market of Brazil.

• Increasing demand for graphite-based automotive solutions
• Strengthening SGL Carbon’s site in Bonn

Over the past three years, SGL Carbon has invested a total of around 25 million euros in the modernization and expansion of its production capacities for specialty graphite automotive components at the Bonn site. The expansion project was completed at the end of last year and was inaugurated today at the site in an official ceremony. Besides the installation of partly new production facilities and a modernized production set-up, construction of a new, 2,000 m2 large hall for the production of the parts was implemented in the course of the expansion.

The background of the expansion is the continuously increasing demand for advanced solutions and products made from graphite in the automotive sector. Due to its durability, high strength, low friction behavior, and high conductivity, the material is suitable for many different automotive applications. Examples include rotors and vanes in vacuum pumps for brake boosters, bearings for exhaust gas management, and sealing rings and bearings for seals in coolant pumps. These solutions include applications for vehicles with conventional combustion engines as well as for e-mobility, thereby making an important contribution to clean driving, higher energy efficiency, and lower emissions.

“Automotive components made from specialty graphite are increasingly becoming the standard in many different applications in the automotive industry. Due to their special properties, they are more and more frequently replacing the materials previously used in pumps and seals, such as plastic and metal. By investing in the modernization and expansion of production in Bonn, we are consolidating our leading position in this market and offering our customers real added value in the close partnership with each other. Through the expansion, we are also strengthening our site in Bonn,” explains Burkhard Straube, President of the business unit Graphite Materials & Systems.

#Takelifebythehorns

Overcoming challenges. Thinking outside the box. Positive thinking. A vision of personal creativity. The advertising campaign for the Spring-Summer 2020 season is a manifesto for expressing the PINKO Woman. Determined, empowered, confident, making her own decisions. Always ready to take life by the horns.

A fiery sunset. A wilderness of mesmerising colours is the backdrop to Mert Alas & Marcus Piggott’s shots, which portray a femininity that is glamorous, gritty, rock, and never predictable. This visual symphony was shaped with a creative team that united stylist Vanessa Reid and creative director Riccardo Ruini with the new star, Lily Aldridge – model, mother and businesswoman – who embodies the beauty of the moment. “We chose Lily because she is the epitome of the PINKO woman”, explained Caterina Negra, image director of PINKO. “She is elegant, sophisticated, with a modern approach. She fills many roles without having had to sacrifice anything. She makes an impression living a life filled with different experiences, as demanded by the modern world”.

Fringes  and  a  masculine  jacket.  Bright  sequins  and  dark  leather.  Rodeo-style  boots,  belt  and  hat  are  teamed  with  sensual denim. This is Lily’s look, as she mounts a unique mechanical bull. It was made specially for the campaign, inspired by the shape and detailing of the Love Bag Mix Studs. An ultra-stylish clash of black and metal accompanies the Love Bag Puff, a new shape in soft quilted nappa leather with chevron motif and appliqué suede fringe. The  fastening  is  the  iconic  metal  buckle  with  Love  Birds.  Not  forgetting  micro-chains  and  studs  for  the  Mini  Love  Metal Fringes or rhinestone fringing for the Go-round version.

The looks are a spontaneous expression of femininity, where personality is key, and movement adds a new dimension to the images. It’s the PINKO message. To be in a safe place where you can be creative without being judged and where you are free to choose. #createyourownlife

“100 % NATURE” collection by Calida reflects a shared vision for sustainable fashion. A mission and a strong commitment combining comfort with technology, style and a responsible attitude.

Manufactured in a closed, particularly energy-efficient cycle and sourced from sustainably managed forests, the man/woman underwear and loungewear collection by leading fashion brand Calida reaches the 100% of sustainability thanks to the premium stretch fiber  ROICA™ delivers ultimate hyper-performance in both stretch and sustainability.

Cellulose-based premium materials are blended with ROICA™ V550; the non-toxic-release* innovation in sustainable elastic fibers, matching the need for elasticity , quality , comfort with the request for sustainability and respect for the environment.

ROICA™ V550 is part of ROICA Eco-Smart™ family, the latest and cutting edge range of ROICA™, the premium stretch fiber for the modern wardrobe by leading innovator Asahi Kasei.

“100% NATURE” is certified CRADLE TO CRADLE™, which means that raw materials can be used time and again in an ongoing biological cycle. CALIDA is also the first clothing brand worldwide to be awarded the ‘MADE IN GREEN by OEKO-TEX®’ label, which is based on compliance with strict social responsibility and ecological criteria and certifies that the textiles carrying the label have been tested for harmful substances.

Sustainability is part of SEEK’s internal make-up and has always been part of the team and community experience. Over 80 sustainable brands make up the brand portfolio, including players like Veja, Dedicated and Kings of Indigo. Experts will be sharing their experiences on this market-defining topic as well, with a host of live podcasts, talks and panel discussions, and will be shaping SEEK’s programme of content.
 
BIG PLAYER: the new SEEK Culture
 
SEEK is Europe’s most successful trade show for pop, street and sneaker culture. This is where the key players meet, where the looks of tomorrow are showcased, modelled and retold, where classics are celebrated, authenticity rules the roost and where icons take their positions alongside shooting stars. SEEK is essential participation for anyone looking to curate a modern, youthful and relevant range.

The shift from a niche event to a large trade show is now complete with a new logo and campaign design. SEEK has emerged from its transformation to reveal that its content and visual look are as relevant as ever!  

Together with creative agencies Karl Anders and Haebmau, the SEEK team has been working for weeks on the brand’s new branding. The result: a visual concept with a strong message.

“The handshake is the right imagery and commitment to our stance and that of the SEEK community.”

“SEEK stands for strength and business just as much as for communality and good vibes! ‘Get Along’ articulates a feeling of agreement, of moving forward and getting to grips with things. We all want to shape a positive future for our industry – as partners and by joining forces.”, explains Fashion Director Maren Wiebus.

CREATIVE CONNECTION: Karl Anders and Haebmau
 
The Hamburg-based agency Karl Anders, which was established by Claudia Fischer-Appelt and Lars Kreyenhagen, was commissioned to come up with the creative concept and design language for the logo and campaign.

“With the new look we are entering a new era for SEEK as a brand. Lots of brands have chosen a design using Helvetica in recent years,” says Claudia Fischer-Appelt, Creative Director at Karl Anders. “We are now signalling a clear shift in another direction. Confident, bold and independent. With the logo we are inviting the viewer to play with the linear layout in their head; we are breaking viewing habits, making a statement and revving things up a gear. SEEK, there it is.”
 
The artwork is the result of a process of in-depth debate with the SEEK brand that took place over several weeks both within the team and also with the support of lifestyle agency Haebmau. Workshops, research and analyses ultimately led to a new, strong brand identity. SEEK is focussed on both established and new players and stands for the WE.

“I have known SEEK since it was in its infancy, so to me it was always like a little brother of the large, successful PREMIUM. Quirky and different, always interesting but somehow not quite so imposing,” says Markus Bublitz, Executive Creative Director at Haebmau. “SEEK today is more grown-up, confident and sharper. Thanks to its position in the market, which it has conquered over the years, it no longer needs to please everyone but can afford to be controversial. This can offer space for new, creative ideas.”

SEEK is edgy, clean-cut and unpolished.

We are all about statement design, new classics, denim and sportswear. SEEK is the trade show event for the fashion community. SEEK knows who calls the shots; it boosts sales and is the place for the next generation of decision-makers to get together. Unlike all the others, SEEK is unconventional and the antidote to boring.

Der Textil vernetzt-Partner Hahn-Schickard hat ein neues Projekt zur Produktentwicklung mit der Ernst REINER GmbH & Co. KG begonnen.

Welche Notwendigkeiten und welche Möglichkeiten ergeben sich durch die Vernetzung mobiler Kennzeichnungsgeräte? Dieser Frage will die Ernst REINER GmbH & Co. KG aus Furtwangen zusammen mit dem Textil vernetzt-Partner Hahn-Schickard in einem gemeinsamen Projekt auf den Grund gehen.

Das 1913 gegründete Familienunternehmen Ernst REINER zählt zu den Marktführern von Stempeln und Kennzeichnungsgeräten in Europa sowie von OCR Druck- und Scan-Systemen in Deutschland. Die mobilen Kennzeichnungsgeräte kommen vornehmlich in Industrie, öffentlicher Verwaltung oder Logistik zum Einsatz, um Verpackungen, Kisten oder auch Paletten zu bedrucken. In der Textilindustrie sind Beschriftungen ebenfalls ein Thema. Bei der Produktion der Kennzeichnungsgeräte steht bei Ernst REINER die Erfüllung höchster Qualitätsstandards im Mittelpunkt, die etwa 200 Mitarbeiter umsetzen. Unter Einsatz neuer Technologien sowie moderner Produktionsanlagen steht das Unternehmen für eine wirtschaftliche und hochpräzise Fertigung.

Um den Mehrwert für Kunden und Unternehmen zu steigern, soll nun – aufbauend auf diesen Anwendungen – evaluiert werden, welche erweiterten Funktionen und Dienstleistungen vor allem für mobile Kennzeichnungsgeräte durch das Internet der Dinge konzipiert, implementiert und angeboten werden können. Mit den Kollegen von Hahn-Schickard wird dazu eine Kosten-Nutzen-Rechnung aufgestellt. Welche Möglichkeiten sich durch die Vernetzung der Belegdrucker bei Ernst REINER ergeben, wollen die Kollegen von Hahn-Schickard in einem 360°-Screening ermitteln.