Grupo Antolin reached sales of more than €3,790 million in the first nine months of 2018
Grupo Antolin’s sales reached €1,192 million in the third quarter of 2018, 3.1% more than in the same period of 2017. Without the effect of currency fluctuations, the sales increased 7.2%. Grupo Antolin outperformed worldwide automotive industry growth thanks to the performance of new projects launched with car manufacturers. Global automotive production dropped by 0.1% in the third quarter.
Ebitda reached €254 million in the first nine months of 2018 and €57 million in the third quarter. The third quarter results have been affected by the deterioration in market conditions and an increase in uncertainty in the industry due to United Kingdom, the effect of the new WLTP emissions protocol, trade tensions and emerging market currency weakness. The results also reflect project delays in United States and China as well as the investment in new factories and projects.
The price pressure from carmakers is continuing to affect the financial year.
Progress in the investment plan
Despite the current situation of the industry, Grupo Antolin is continuing to make progress in its investment plan to strengthen its presence in its key markets. Grupo Antolin is expanding its industrial footprint in order to improve the service to its customers and carry out all the planned launches. The company is going to open this week a new Guangzhou plant, specializing in the lighting business for the Chinese market.
The new and modern facility, which replaces the old Guangzhou plant, has the latest technology and improves customer service with a technical-commercial office specialized in the lighting business. One of the Grupo Antolin strategic lines focuses on providing new lighting solutions integrated into the car interior components. Grupo Antolin will strengthen its lighting business in the Chinese market with the new Guangzhou plant.
The facility employs around 700 people and plans to supply 35 million lighting products to about 250 customers this year.
So far this year, Grupo Antolin has opened new plants in Shelby (USA) and in Shenyang (China) as well as reaching an agreement with Donghuan to establish a joint venture in order to expand its window regulators business. Grupo Antolin has also started the production of its factory in Alabama (USA) this year.
Sales by Business Unit and Territories
In the first nine months of the year, the Overheads Business Unit reached sales of €1,416 million and Doors achieved €1,322 million which represents a significant increase of 10%. Cockpits & Consoles attained €803 million and the sales for the Lighting Business Unit amounted to €254 million which represents an increase of 8%.
By territory, sales in Europe reached €1,892 million; and in the NAFTA region, €1,377 million. The sales growth was led by Asia-Pacific with an increase of 25% (434 million), followed by Mercosur with 66 million, 10% more than in the same period of 2017.