Grupo Antolin reached sales of €1,269 million in the first quarter of 2019
Grupo Antolin, one of the largest manufacturers of vehicle interiors in the world, achieved sales amounting to €1,269 million in the first quarter of 2019, compared to €1,291 million in the same period the year before.
Ebitda reached €99.9 million in the first quarter of 2019. The results have been achieved in a context of significant decline in worldwide automotive production (-5.3%) with falls in the biggest markets and uncertainties in the industry, such Brexit and trade tensions.
During 2019, Grupo Antolin will continue to expand its industrial network in order to carry out all the planned launches and improve the service to its customers. This month the company opened a new factory at Bamberg (Germany), which will be the company’s lead center for lighting electronics.
Vietnam, new market
As part of its growth strategy in Asia, the largest market in the world, Grupo Antolin has decided to enter in Vietnam to supply components to VinFast, the new carmaker that will launch this summer its first two models.
Grupo Antolin will supply overheads and sunvisors to VinFast vehicles. The Vietnamese company expects to reach sales of 110,000 cars by 2020. Grupo Antolin has opened a Just in Time center within the VinFast industrial park in Haiphong (Vietnam) to provide service to this new customer.
As part of the strategy in China, Grupo Antolin wants to take advantage of the business potential of electric mobility. Carmakers are focusing on the development of electric vehicles in this market. Grupo Antolin has ongoing projects to supply components to 14 electric vehicles in China, mainly from local brands.
Mobility of the future is an area that will provide opportunities for business and growth for the Grupo Antolin. The company is developing more integrated products, which include more technology and electronics, offering further lighting functions and solutions as well as reducing weight. The company has production programs for 34 new electric models.
In April, the shareholders of Grupo Antolin and certain members of the management team purchased Grupo Antolin’s Senior Secured Notes for an aggregate principal amount of €2.763 million.
For its part, Grupo Antolin purchased and cancelled Notes for an aggregate principal amount of €9.6 million.
The purchase of Senior Secured Notes is proof of the shareholders, company and management team's commitment to the Grupo Antolin’s business plan.
Sales by Business Unit and Territories
In the first quarter of 2019, Overheads Business Unit reached sales of €480 million and Doors achieved €462. Cockpits & Consoles attained €247 million and the sales for the Lighting Business Unit amounted to €80 million.
By territory, sales in Europe reached €645 million; and in the NAFTA region, €495 million. Sales in Asia amounted to €99 million, and in Mercosur, 20 million.
Note: IFRS 16 operating lease adjustment included as of 1stJanuary 2019.