Grupo Antolin reports sales of €2,905 million to the end of September
In an extremely challenging market, Grupo Antolin exceeded industry growth by 170 basis points (worldwide vehicle production in the period grew by 9.5%). Without taking into account the currency effect, the company's sales revenue showed an increase of 12.3%.
Gross operating profit (EBITDA) from January to the end of September improved by 45.8%, up to €210 million. These results were achieved in the context of the severe impact that the semiconductor shortage in the industry is causing, as well as the generalized rise in raw material prices. This year, nearly ten million vehicles less than initially forecast will be produced due to the semiconductor chip crisis, which caused the worldwide production of vehicles to drop by 19% in the third quarter. As a consequence, the total recovery in the sector, in the wake of the crisis last year caused by the onset of COVID-19, will take longer than expected.
Grupo Antolin expects that, when the industry situation returns to normal in the coming months, the high demand for cars will produce sustained growth in global sales over the medium term. In this context, the company is focused on improving its efficiency and keeping its costs under control, as well as preserving profitability and generating cash flow. As at the end of September, the company was in a sound financial position with a liquidity of €593 million, including cash and credit lines undrawn, which gives it the flexibility necessary to face future situations in the industry.
New integrated project and strategy for electric vehicles
Grupo Antolin continues to make progress in its strategy to consolidate itself as a global provider of technological solutions, while developing a sustainable business model that helps to decarbonize the automotive industry. This year has reached an important milestone with the awarding of the first Touch Control Unit project, which combines a sophisticated deco trim, ambient lighting, capacitive switches and electronics, all into one single unit. This project will be fully produced and developed in Asia for a customer in this market. Grupo Antolin is able to fully meet the demand for advanced smart surfaces with the seamless integration of functions, thanks to the experience of the Lighting & HMI Business Units and Electronic Systems.
The objective of this project and others on which Grupo Antolin's Advanced Engineering is working, is to deliver customers a more advanced, technological and sustainable car interior that offers passengers a unique travel experience.
On the other hand, Grupo Antolin is fully committed to the goal of achieving zero emissions in the industry, helping its customers to implement their electricity-based strategy. In total, the company’s solutions and products can now be found in nearly 100 models (both in production and under development) that use different types of alternative technologies, from Battery Electric Vehicles to Plug-in Hybrid Electric Vehicles and even cars that are powered by solar cells. The company supplies well-established manufacturers, as well as new start-ups specializing in electric cars, with a strong focus on China.
In regard specifically to electric vehicles, Grupo Antolin is working on a special line of products aimed at reducing vehicle weight and optimizing their thermal and acoustic insulation, so necessary for this type of models. In this way, the company is developing solutions to cover the cockpits of premium vehicles such as Double Slush Skin, which cut weight by up to 40%. It is also reducing the panorama headliner frames with the use of lighter and more sustainable materials. In addition, Grupo Antolin is presenting ultralight door modules to meet the specific needs of electric vehicles.