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According to the new market research report “Automotive Interior Market by Component (Seat, Interior Lighting), Material (Glass Composite, Carbon Composite, Metal, Vinyl, Fabric), Autonomous Driving (Semi-autonomous, Autonomous), Electric Vehicle, Vehicle Type and Region – Global Forecast to 2025″, published by MarketsandMarkets, the global Automotive Interior Market is projected to reach USD 153.8 billion by 2025 from USD 123.2 billion in 2020, at a CAGR of 8.8% during the forecast period.

Technological advancements in current generation automotive interior components and the increasing trend of connected and autonomous vehicles are further expected to drive the Automotive Interior Market. Overall, the changing preferences of buyers, improved standards of living, and focus of OEMs to provide comfort and convenience are also expected to drive the growth of the Automotive Interior Market.

Browse in-depth TOC on “Automotive Interior Market”

308 – Tables
66 – Figures
294 – Pages

The COVID-19 pandemic has resulted in halted production and plunging sales and has forced the key players in the global automotive field to rethink their strategies. Rescheduling the launch of models and projects, stabilizing dealer networks, managing cash carefully, and reviewing investment portfolios have affected the production and sales of passenger and commercial vehicles across the globe, which has resulted in a dip in the Automotive Interior Market in 2020 as compared to 2019. The development and implementation of safety features are expected to slow down as well.

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HUD segment, by component, is estimated to be the fastest-growing Automotive Interior Market during the forecast period.

The head-up display (HUD) is a device that displays information about the vehicle and the external environment in the driver’s field of view. It reduces driver distraction and helps the driver to concentrate on the road. The HUD has become a key advanced driver assistance system. The increasing demand for comfort and safety functions has encouraged auto manufacturers to invest in advanced in-vehicle safety functions. The increasing demand for safety functions is encouraging vehicle manufacturers to develop features for mid-segment and economy segment vehicles too. The HUD market growth can be attributed to the high luxury vehicle production capabilities coupled with high demand for luxury and convenience features.

Passenger car segment, by vehicle type, is estimated to be the fastest-growing market during the forecast period.

Due to the higher production of passenger cars than other vehicle segments, the passenger car segment is projected to have the largest share of the Automotive Interior Market during the forecast period. Passenger vehicles require high-quality interiors as compared to LCVs and HCVs due to end-user demand. The amount of money spent on quality, comfort, and styling of automotive interiors is much higher in the case of personal use than commercial use. Also, the increased disposable income in developing countries is driving the growth of the Automotive Interior Market for passenger vehicles. Passenger vehicles are the most focused segment for automotive interior manufacturers. The technologies used in this type of vehicle are frequently changing due to the high demand from consumers for luxury and convenience features. Also, government regulations for emissions and safety for passenger vehicles are frequently changing. The manufacturers must reduce the weight of passenger vehicles and offer comfort and safety at a lower price. Due to the increasing demand for autonomous and electric vehicles, the electronic content is frequently increasing in passenger vehicle interiors, which, in turn, is driving the growth of the passenger car interior market.

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Asia Pacific is estimated to be the fastest-growing market for automotive interior in 2020

Asia Pacific is projected to be the fastest-growing market for automotive interiors. Leading automakers in this region, such as Toyota, Honda, and Hyundai, are embracing the advantages of advanced seating systems, lighting, electronics, and various safety systems, making them essential features across their car models. Major countries in this region, such as China, Japan, India, and South Korea, are anticipated to witness the rapid adoption of new technologies. China, due to its high vehicle production capacity, is expected to significantly contribute to the market growth in Asia Pacific. Increasing demand for a safe, efficient, and convenient driving experience; rising disposable income in emerging economies; and stringent safety regulations across the region are also expected to contribute to market growth.

The Automotive Interior Market is dominated by globally established players such as Continental AG (Germany), Faurecia SA (France), Grupo Antolin (Spain), Marelli (Japan), and Magna International Inc. (Canada), Adient (US), Toyota Boshoku (Japan), Visteon (US), Dräxlmaier Group (Germany), Panasonic Corporation (Japan), and Yanfeng Automotive Interiors (China), among others.

Browse Related Reports:

Automotive Lighting Market for ICE & EV by Technology (Halogen, LED, Xenon/HID), Position & Application (Head, Side, Tail, Fog, DRL, CHMSL, Dashboard, Glovebox, Reading, Dome, Rear View Mirror), Adaptive Lighting and Region – Global Forecast to 2025

Automotive Seats Market by Type & Technology (Heated-Powered, Heated-Ventilated, Heated-Memory, Heated-Ventilated-Memory, Heated-Ventilated-Memory-Massage), Trim & Frame Material, Component, Vehicle (ICE, Electric,OHV) and Region – Global Forecast to 2025

JULY-SEPTEMBER 2020

• Total sales MSEK 26 501 (28 214)

• Organic sales growth 0 percent (4)

• Operating income before amortization MSEK 1 327 (1 574)

• Operating margin 5.0 percent (5.6)

• Items affecting comparability (IAC) MSEK -112 (-60), relating to IS/IT transformation programs and the cost savings program in the Group

• Earnings per share SEK 2.08 (2.56)

• Earnings per share, before IAC, SEK 2.31 (2.68)

• Cash flow from operating activities 199 percent (138)

• Reinstated dividend proposal SEK 4.80 (4.40) per share to be resolved at an EGM in December

JANUARY-SEPTEMBER 2020

• Total sales MSEK 81 477 (82 642)

• Organic sales growth 0 percent (5)

• Operating income before amortization MSEK 3 488 (4 241)

• Operating margin 4.3 percent (5.1)

• Items affecting comparability (IAC) MSEK -218 (-126), relating to ­IS­/­IT transformation programs and the cost savings program in the Group

• Earnings per share SEK 5.18 (6.82)

• Earnings per share, before IAC, SEK 5.63 (7.07)

• Net debt/EBITDA 1.9 (2.5)

• Cash flow from operating activities 163 percent (72)

• Significant impact and uncertainty related to the corona pandemic

Comments from the President and CEO

The corona pandemic continued to have negative impact on the Group’s operations in the third quarter, but the overall business situation improved compared to the second quarter. The Group’s organic sales growth was 0 percent (4) in the quarter and 0 percent (5) for the first nine months, with all business segments improving during the quarter. The airport security business is still heavily impacted by the corona pandemic, with the largest negative impact in Security Services Europe. We have been able to offset some of the portfolio reductions with increased extra sales, helping our clients with their security needs related to the ­corona pandemic.

Security solutions and electronic security sales was 22 percent (21) of total Group sales. The installation business within electronic security is negatively impacted by the corona ­pandemic, but improved in the third quarter ­compared to the second quarter.

The Group’s operating margin was 5.0 percent (5.6) in the third quarter and 4.3 percent (5.1) in the first nine months, with all business segments behind last year mainly due to the corona pandemic. The operating ­margin was supported by cost saving actions and government grants but hampered by increased provisioning. The price and wage balance was on par in the first nine months.

The operating result, adjusted for changes in exchange rates, declined by 8 percent in the third quarter and by 15 percent in the first nine months. Earnings per share, before items affecting comparability, amounted to SEK 5.63 (7.07).

The Group delivered a strong cash flow in the first nine months, also when excluding the effects from corona-related government support measures. We have re-­initiated acquisition activities and in the third quarter we ­announced the strategically important acquisition of STANLEY Security’s electronic security businesses in five countries. The acquisition was closed on November 2.

In light of the improving financial performance and the solid financial position under a continued prudent approach, the Board of Directors has decided to reinstate the dividend proposal of SEK 4.80 (4.40) per share earlier withdrawn on April 28.

Preparing for a strong future

Although we experienced improvements in the general business environment in the third quarter compared to the second quarter, much uncertainty remains regarding the duration and long-term implications of the pandemic. We maintain focus on our four main priorities to handle the corona pandemic: the health and safety of our employees, ­delivery of our services to our ­clients and supporting their new needs, managing cash flow and cost.

In the second quarter we announced a cost savings program in the Group, addressing the profitability in parts of our business due to the corona pandemic. We have started to implement this program in the third quarter and restructuring costs of MSEK 59 were recognized as items affecting comparability. The first savings will start impacting in the fourth quarter and gradually increase thereafter. We earlier ­estimated a range of ­­restructuring costs of MSEK 350-500 with a payback period of 2 years. The final amount of restructuring will largely depend on changes related to govern­ment grants and the development of the airport security business. We expect to finalize the program at the end of the second quarter 2021.

Despite the challenging situation with the corona pandemic we maintain high focus on our transformation ­programs: the business transformation in Security Services North America and the global IS­/­IT ­trans­­formation. During the third ­quarter, we implemented an important part of the ­business transformation program in Security Services North America. The Securitas team has shown great strength and commitment through­out these difficult times with a strong focus on adapting to our ­clients’ needs. Our resilience, combined with our strong offering of ­protective services and solutions, gives us a ­competitive advantage also in ­­turbulent times.

Magnus Ahlqvist
President and CEO

PRESENTATION OF THE INTERIM REPORT

Analysts and media are invited to participate in a telephone conference on November 3, 2020, at 2:30 p.m. (CET) where President and CEO Magnus Ahlqvist and CFO Bart Adam will present the report and answer questions. The telephone conference will also be audio cast live via Securitas’ website. To participate in the telephone conference, please dial in five minutes prior to the start of the conference call:

US: + 1 631 913 1422

Sweden: + 46 8 566 426 51

UK: + 44 333 3000 804

Please use the following pin code for the telephone ­conference: 621 490 78#

To follow the audio cast of the telephone conference via the web, please follow the link www.securitas.com/investors/webcasts. A recorded version of the audio cast will be available at www.securitas.com/investors/webcasts after the ­telephone conference.

For Further Information, Please Contact:

Micaela Sjökvist,
Head of Investor Relations.  
+ 46 761167443

FINANCIAL INFORMATION CALENDAR

February 4, 2021, 8.00 a.m. (CET)    Full Year Report January-December 2020

May 5, 2021, app. 1.00 p.m. (CET)    Interim Report January-March 2021

May 5, 2021    Annual General Meeting 2021

July 29, 2021, app. 1.00 p.m. (CET)    Interim Report January-June 2021

October 29, 2021, app. 1.00 p.m. (CET)    Interim Report January-September 2021

For further information regarding Securitas IR activities, refer to www.securitas.com/investors/financial-calendar