Antolin increases sales by 14% in the first half of the year
Antolin significantly improved its results in the first half of 2023 with strong growth in every region. The company’s sales reached €2,401 million, up 14% from the same period last year.
Customer diversification and new projects allowed Antolin to grow more than the global industry, which in the first six months of the year increased vehicle production by 11%. While the industry remains far from pre-pandemic figures, progressive improvement in supply chain issues is boosting market growth.
Despite a challenging economic background marked by global inflationary pressures and widespread interest rate hikes, Antolin recorded a gross operating profit (EBITDA) of €160 million in the first six months, compared to €146 million in the same period of the previous year (+10%). The company is focused on improving efficiency and pursuing operational excellence in its processes, as well as optimising costs. The goal is to fuel its margins and profitability, a key goal in its GOA transformation plan, by harnessing the full potential of new electric mobility.
Antolin is also making a significant commercial effort based on its strategy to offer products with more added value to its customers, which has turned into a project acquisition portfolio worth €3.5 billion in the first half of the year.
Among its emerging projects, its highlights are contracts related to technological solutions, such as different ambient lighting programmes for electric vehicles and backlit door panels. The new urban mobility models also offer business opportunities for Antolin. In this regard, the company is developing an innovative and advanced Door Control Unit (DCU) that will control the four automatic sliding doors with various functionalities for a disruptive self-driven electric robotaxi that will soon be available in the market.
Sales by Region
Between January and June, Antolin recorded a positive growth in every region; in most cases, growth was above respective markets: revenue in Europe and the rest of the world grew by 14%, to €1,220 million, while in North America sales soared by 12%, to €812 million.
In Asia, one of the focal points of its strategy and a region where it expects to substantially increase its business in the coming years, Antolin recorded sales of €369 million, up 20% from the same period last year, driven by business in China and India.
Morningstar Sustainalytics and EcoVadis Recognition
Advances in Antolin’s sustainable and responsible business model continue to earn recognition from ESG (Environmental, Social and Governance-related) rating agencies. Thus, Antolin rises in the Morningstar Sustainalytics ranking thanks to the improvement in the score obtained in the Sustainalytics ESG Risk Rating Report. Since 2019, the company has improved its ESG risk rating by 42%, consolidating its “low-risk” position.
In addition, the company has received the EcoVadis gold medal for its commitment and sustainable business management, improving the score earned by five points compared to the previous year (silver medal). With this rating, Antolin is among the best-rated companies in its industry in areas such as environmental management, ethics and human rights, good labour practices, cybersecurity and information security, and the supply chain.
Both awards add to the improvement in the position achieved in 2022 in various international sustainability rankings, such as Moody’s ESG Solutions, MSCI, S&P Global or Carbon Disclosure Project (CDP).