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Net sales growth in Transportation market segment, profitability remaining below expectations
The order intake of CHF 284.4 million in the Transportation market segment was 1.9 % above the previous year (CHF 279.0 million). Net sales grew by 9.8 % to CHF 270.6 million (PY CHF 246.4 million). Almost all of the growth was attributable to the automotive subsegment and driven by the ongoing trend toward electric vehicles. Business with radar antennas for advanced driver assistance systems still accounted for a small share of sales. In the railway subsegment, the total volume of business reached the previous year’s level. High growth rates were achieved for applications relating to the rail communications growth initiative. Thanks to a significant improvement in the second half of the reporting year, the EBIT margin in this market segment again reached 5.1 % (PY 5.1 %).
“In the automotive market, the transition to electric vehicles powered by batteries or fuel cells has accelerated. This development has also had an impact in the commercial vehicle market, where our focus lies. The product advantages offered by our RADOX® technology base have enabled us to increase both our net sales and market share. Changes to the legal framework for road traffic and the need for increased safety and comfort when driving are underpinning the demand for the next generation of advanced driver assistance systems. Over the past financial year, we were able to consolidate our position as the market leader for waveguide antennas in these applications thanks to further appointments by major tier 1 automotive manufacturers. 2022 saw an improvement in the railway market in Europe, while the impacts of the coronavirus pandemic were still being felt in the Asian market. The withdrawal from Russia also reduced our market potential. Over the medium term, we expect investment in the railway market to increase again at the global level.”
Drew Nixon,COO Transportation segment
Our solutions for the Transportation market
Growth initiatives developing positively – automated driving and electromobility as technology drivers
The two subsegments railway and automotive continued to experience differences in momentum in the reporting year. In the railway market, there remained minimal new rolling stock entering circulation, whereas there was a significant upturn in the rail communications business.
In the automotive subsegment, the reporting year again saw contracts signed with world-leading automotive suppliers and manufacturers for the development and production of distance radar antennas. This underscores the company’s competitiveness in the advanced driver assistance system (ADAS) growth initiative, thanks to differentiated technology solutions tailored to customer needs.
The company recorded high growth rates in the electric vehicle growth initiative, where the strategic focus is on commercial vehicles. The high requirements for cost effectiveness and service life in the commercial vehicle business align well with the expertise offered by HUBER+SUHNER. The company can draw upon its strengths in this promising market, based on its long-standing experience in the development of solutions for use in even the most challenging environmental conditions.
