Grupo Antolin, one of the largest manufacturers of vehicle interiors in the world, achieved sales amounting to €2,678 million in the first half of 2019, compared to €2,713 million in the same period the year before.
Thanks to the start-up of new projects, especially in the United States and the Czech Republic, Grupo Antolin’s sales outperformed worldwide automotive production which declined 6.3% to the end of June with falls in the largest markets. It is worth noting the negative performance of China, the world’s largest market, with a 13% drop in production over the same period.
Ebitda reached €226 million in the first half of 2019. The results have been achieved in a market that has continued to deteriorate and is affected by important uncertainties, such as Brexit and trade tensions.
Grupo Antolin is carrying out the biggest programme of launches in its history with 419 ongoing projects. The company is also focused on improving its competitive position by taking advantage of the commercial opportunities offered by the mobility of the future. It has projects to equip 67 electric models: 37 fully electric vehicles, of which more than half have not yet been launched to the market, and 30 electric versions of fuel-combustion vehicles.
To take advantage of the mobility of the future, which will be characterised by electric, self-driving connected cars, Grupo Antolin’s strategy is focused on developing integrated products, which include more technology and electronics, offering further functions and lighting solutions. The company is increasing its capabilities in electronics: having recently opened a new factory in Bamberg (Germany), which will be the company’s main center for lighting electronics.
Notes purchase
Grupo Antolin continued to purchase company’s Senior Secured Notes. In June, Grupo Antolin purchased and cancelled Notes for an aggregate principal amount of €5 million which add to the €9.6 million worth of bonds acquired in April. In total, Grupo Antolin cancelled €14.6 million worth of debt.
For its part, in April, the shareholders of Grupo Antolin and certain members of the management team purchased Grupo Antolin’s Senior Secured Notes for an aggregate principal amount of €2.8 million.
The purchase of Senior Secured Notes is proof of the shareholders, company and management team’s commitment to the Grupo Antolin’s business plan.
Sales by Business Unit and Territories
In the first half of 2019, Doors Business Unit reached sales of €1,000 million and Overheads achieved €992. Cockpits & Consoles attained €515 million and the sales for the Lighting Business Unit amounted to €171 million.
By territory, sales in Europe reached €1,372 million; and in the NAFTA region, €1,024 million. Sales in Asia amounted to €221 million, and in Mercosur, 41 million.
Note: IFRS 16 operating lease adjustment included as of 1stJanuary 2019.
