Grupo Antolin once again demonstrated the strength of its business throughout 2021, a challenging financial year in which the company experienced the chips crisis and a sharp increase in the cost of raw materials.
Sales reached €4,055 million compared to €3,975 million in the previous financial year, which represents a level of growth in line with the market. In total, close to 76 million vehicles were manufactured worldwide, just 2% more than in 2020 when the market suffered the impact of the COVID-19 crisis. In 2021, global vehicle production was heavily impacted by semiconductor shortages, recording low numbers for the second consecutive year. In this light, the company demonstrated its flexibility and operational efficiency in order to accommodate these production stoppages for customers.
In 2021, the EBITDA improved by 4% to €282 million thanks to the optimisation and efficiency measures that were put in place. The company’s cash increased by 10% to €441million, and net debt decreased to €760 million (–58 million). This coupled with refinancing bank credit and the issuance of the bond -both operations closed last year- ensure that Grupo Antolin is in a solid financial position to cope with the situation the industry is in, while continuing to develop its business strategy.
By region, the performance of Asia-Pacific stands out, where sales improved by 17% to €593 million, well above the market’s rise, thanks to a growth of 9.5% in China to €509 million, and of 58% in India to €63 million. Grupo Antolin is expanding its customer base and product portfolio in China with the goal of consolidating itself as a key provider of advanced solutions.
Sales in Europe (€1,994 million, -1%), South America (€59 million, +39%) and Africa (€73 million, +43%) also outperformed the respective markets. In North America, revenue reached €1,336 million compared to €1,368 million in 2020.
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