Grupo Antolin raises its EBITDA and reaches sales of €2,116 million
Grupo Antolin achieved solid operating results and margins in the first half of 2021 thanks to the recovery of the global demand for vehicles, after the restrictions for dealing with the pandemic were lifted, and the efficiency measures adopted with the aim of overcoming the crisis. Sales in the first half of the year reached €2,116.7 million euros, compared to €1,552.6 million in the same period of the previous year (+36.3%).
The gross operating profit (EBITDA) between January and June grew by 227.4%, up to €171 million, with the operating margin on sales at 8.1%, compared to 3.4% in the first half of 2020. This margin, which has improved by 470 basis points, is above pre-COVID levels.
Despite the positive performance over the semester, the results were impaired by the impact on the global industry by the shortage in semiconductors and rising prices of certain raw materials. Analysts expect this situation to normalize over the next few months.
This recovery of the business was noticed in all the regions where Grupo Antolin operates. Sales in Europe grew by 52.1% (€1,121.4 million), North America by 17% (€659.1 million) and Asia by 52.1% (€271.8 million). In Mercosur, revenues improved by 56%, up to €25.7 million, and in Africa, by 112.6%, up to €38.6 million.
In the second quarter of this year, results grew strongly compared to figures for the same period in 2020, which were affected by the strict restrictions and lockdowns that were adopted in most countries. Revenues between April and June 2021 grew by 108.6%, up to €1,040.7 million euros, while EBITDA stood at €74.5 million, compared to operating losses of €24.2 million in the same period of 2020.
Grupo Antolin expects a positive performance in automobile sales in the second half of the year, as the vaccination process drives the overall recovery of global economic activity. The company expects an improvement in the results of 2021, with an increase in revenues and operating margin.
Driving sustainability from the car interior
To reinforce the transformation of its business model and support its strategy to consolidate itself as a global provider of technological solutions for car interiors, Grupo Antolin has just approved its new Sustainability Goals in environmental, social and corporate governance aspects, as well as actions to achieve them. Profitability and purpose come together at Antolin to build the mobility of the future, from the interior of its products and its people.
Grupo Antolin's strategy reaffirms its commitment to developing a sustainable business model that creates value for the stakeholders through more sustainable processes, the latest technology and the most innovative designs.
With regard to environmental matters, the company wants to contribute to the decarbonization of the automotive industry by helping its customers to meet their commitments in reducing emissions and creating a circular economy. Antolin has set the goal of reducing its CO2 emissions by 30% by 2028 and ensuring that its operations are carbon neutral by 2040. At the same time, it is working on the neutrality of emissions throughout its value chain.
As for the circular economy, Grupo Antolin is committed to doing more with a more sustainable use of resources. Innovation and technological development are key to the eco-design of its products and solutions, incorporating recyclable and natural materials and reducing their environmental impact throughout the entire life cycle. These efforts are in addition to its commitment to maximum resource utilization and a decrease in the generation of waste and emissions. The goal is to reduce non-hazardous waste by 10% by 2028.
Planet and Business are added to People as the main areas of value creation for the company. The reduction of occupational accidents, as a path toward zero accidents, along with diversity, equity and inclusion applied to talent development, are at the centre of team management. The promotion of specific plans to encourage diversity in all its dimensions – together with the fact that Antolin is a driver of economic, environmental and social development in the regions where it operates – complement its social objectives.
In terms of governance, Grupo Antolin will continue with its endeavours to be a benchmark in ethics, compliance and respect for human rights, including its supply chain, as well as in the application of best practices of corporate governance.