Grupo Antolin improves its sales and EBITDA in the second quarter of 2022



Grupo Antolin improves its sales and EBITDA in the second quarter of 2022

2022-08-02
  • It increases its goal to reduce CO2 emissions by 75% by 2028 and is committed to 70% renewable electricity that year.

Grupo Antolin has once again demonstrated that it has a strong and flexible business that is able to cope with the most challenging stage in the history of the automotive industry. The company’s sales in the second quarter (April-June) were positively up by 7.4% to €1,117.9 million from the same period last year.

In recent months, the automotive industry has continued to record low production levels due to semiconductor shortages and the effects of the Ukraine war on supply chain and sales in Europe, as well as new mobility restrictions in China to cope with the pandemic. Global vehicle production grew 1% in the second quarter. Despite this challenging context, the company reacted in an agile and efficient manner which allowed it to outperform the market by more than six percentage points.

Thanks to the growth in recent months, Antolin’s sales reached €2,099.2 million in the first half of the year (January-June), compared to €2,116.7 million in the same period of the previous year. Sales evolved in line with global vehicle production, which declined 1% in the first half of year.

Increased revenue in recent months and efficiency measures implemented by the company have led to improved operating margins. Second-quarter EBITDA increased 15.9% to €86.4 million. During January-June, EBITDA fell 15% as a result of a weaker first quarter, to €145.9 million. The company is focused on increasing its profitability, while developing its strategy to consolidate itself as a global and innovative provider of automotive interior technology solutions and grow its business in high growth potential markets such as China or India.

Sales by territories

In the first six months of the year, Antolin’s sales by regions outperformed the respective markets: North American revenue grew 10%, to €722.7 million by +5% of the market, while Asia sales rose 13%, to €307.4 million, compared with +1% in the market. A 47% increase in business in India and a 6% increase in China stand out.

Grupo Antolin’s revenue in Europe fell 12% in line with the market, to €986.1 million, and in Africa grew 16%, to €44.8 million vs. +10% in the market. Antolin’s sales in South America were 38 million, up 48% year-on-year and compared with a 1% contraction in the market.

During the second semester, the automotive industry situation will continue to be marked by significant uncertainties, so Grupo Antolin will remain focused on improving its efficiency, controlling its costs and being flexible to adapt to its customers’ production.

New environmental goals

Grupo Antolin has updated its environmental objectives by strengthening the roadmap to respond to the challenges of evolution to a green economy in the industry. This roadmap is part of Planet Value, one of three areas of value creation for the company within its sustainable and responsible business model.

Grupo Antolin has set a new goal to reduce CO2 emissions by 75% by 2028 compared to a previously expected reduction of 30%. In addition, the company has reaffirmed its goal of achieving carbon neutrality in its own operations (scope 1 and 2) in 2040 to progressively reach total neutrality across the company’s value chain. At the same time, it has been set as a new goal that 70% of electricity consumption should come from renewable sources in 2028, compared to 35% previously. In Spain and Portugal, the target is 100% for this year. In addition, some of top management’s variable remuneration has been approved to be linked to achieving ESG targets.

All of these measures are part of Grupo Antolin’s commitment to being a business leader for its respect for the environment, its contribution to the fight against climate change and its support for the transition to a low-carbon economy. The company wants to help decarbonize mobility while contributing to the success of the 2030 Agenda.

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