Grupo Antolin reached sales of €5,425 million and will open a new factory in Mexico
Grupo Antolin, one of the largest manufacturers of vehicle interiors in the world, achieved sales amounting to €5,425 million in 2018, compared to €5,391 million the year before.
Without the effect of currency fluctuations, sales increased 3.2% in a context of decreasing global automotive production (-0.5%).
Ebitda reached €356 million in 2018. The end of the last financial year was affected by the deterioration in market conditions due to an increase in uncertainty in United Kingdom, the effect of the new WLTP emissions protocol, and trade tensions. The results also reflect production delays of some new programs.
Grupo Antolin is carrying out the biggest programme of launches in its history thanks to the confidence shown by the clients in the company. This confidence strengthens Grupo Antolin's standing as one of the biggest manufacturers of vehicle interiors in the world. At the end of 2018, the company had 429 ongoing projects of which 112 are programs that were launched last year.
Electric cars projects
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 32 new electric models (21 that have not yet reached the market). Carmakers are focusing on the development of electric vehicles.
Grupo Antolin will supply all models of Volkswagen's new electric vehicle platform in Europe, the majority of electric cars that will reach the Chinese market and the electric vehicle that Ford plans to produce in Mexico for the whole world.
As part of this project, Grupo Antolin will open a new factory in Cuautitlan (Mexico), which will supply doors panels and instrument panels to Ford. Arteaga and Toluca factories are also involved in this project.
The new Cuautitlan factory will employee more than 100 people and incorporate state-of-the-art technology and processes, strengthening the company's industrial network in Mexico.
In 2019, the company is continuing to make significant investments, more than 300 million euros will be invested in all its different projects. Grupo Antolin is expanding its industrial network in order to carry out all the planned launches and improve the service to its customers.
In 2018, Grupo Antolin opened the new Chinese plants in Guangzhou, specialized in the lighting business, and Shenyang. Grupo Antolin also opened Shelby factory that is carring out one of the biggest programs in the history of the company, and started the production of its factory in Alabama (USA).
Sales by Business Unit and Territories
In 2018, the four Business Units continued to consolidate its market share. Overheads Business Unit reached sales of €2,061 million and Doors achieved €1,886 million which represents a significant increase of 3%. Cockpits & Consoles attained €1,126 million and the sales for the Lighting Business Unit amounted to €349 million which represents an increase of 8%.
By territory, the sales growth was led by Asia-Pacific with an increase of 21% (618 million). It is worth noting that sales increased by 31% in China compared with a 3.5% drop of local automotive production. Sales in Europe reached €2,734 million; and in the NAFTA region, €1,946 million. Sales in Mercosur amounted to 90 million, 2% more than in 2017.
Note: The 2018 results have been prepared following the new IFRS 15, which has meant an increase in revenue as a result of including tooling revenue. This has not had any impact on EBITDA or EBIT. Prior to IFRS 15, the result of tooling sales minus tooling costs was reflected under Other operating income. Figures for 2017 restated according new IFRS 15 to compare with 2018.