Interior supplier Grupo Antolin said the second quarter (April-June) was up 7.4% year over year to EUR 1,117.9 million.
The supplier said the auto industry continued to record low production levels due to semiconductor shortages and the effects of the war in Ukraine on supply chain and sales in Europe, as well as new mobility restrictions in China to help cope with the pandemic.
Global car production grew 1% in the second quarter.
“Despite this challenging context, the company responded flexibly and efficiently, outperforming the market by more than six percentage points,” the company said in a statement.
Thanks to the growth in recent months, sales in the first half of the year (January-June) reached EUR 2,099.2 million, compared to EUR 2,116.7 million in H1 2021. Sales evolved in line with global car production, which decreased by 1% in the first half of the year. first half of 2022.
Antolin said higher sales in recent months and efficiency measures have resulted in improved operating margins.
Second quarter EBITDA increased by 15.9% to EUR 86.4 million, although first half EBITDA declined 15% due to a weaker first quarter to EUR 145.9 million.
The company said it remained focused on increasing profitability while developing its strategy of consolidating itself as a global and innovative supplier of automotive interior technology solutions and growing its business in markets with high growth potential, such as China. or India.
Sales by region
In the first half, Antolin’s sales by region outperformed their respective markets: North American sales grew 10% to EUR 722.7 million (compared to market growth of 5%), while sales in Asia grew 13% to EUR 307.4 million, compared to a Market Increase of 1%. A 47% increase in business in India and a 6% increase in China were remarkable.
Sales in Europe decreased 12% in line with the market to EUR 986.1 million, and in Africa grew 16% to EUR 44.8 million, versus a market increase of 10%. Sales in South America were EUR 38 million, an increase of 48% year-over-year, compared to a market contraction of 1%.
“During the second half, the situation in the automotive industry will continue to be characterized by significant uncertainties, so Grupo Antolin will remain focused on improving its efficiency, controlling its costs and being flexible to adapt to the production of its customers,” a statement said.