Interiors supplier Antolin said it continued to improve margins and profitability in the first half of 2024 though it faced an increasingly challenging and volatile industrial environment.
The company increased gross operating profit (EBITDA) by 12% to EUR180m, thanks to an improvement in efficiency and strict cost controls which helped offset a drop in sales.
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EBITDA margin was 8.4%, 1.7% higher year on year. Operating profit (EBIT) increased 44% to EUR61m.
Vehicle production fell by 0.2% to 43.6mn units in the first half of the year. This slowdown, coupled with the conclusion of programs in North America and the impact from exchange rates, led to Antolin posting sales of EUR2,155m versus €2,401 million (-10%) a year ago.
By region, Antolin recorded sales of EUR1,087million in Europe and the Rest of the World, down from EUR1,220m in the same period in 2023 (-11%).
Revenues in Asia reached EUR375m versus EUR369m (+2%) while the overall market rose 1%.
North America revenue was down 15% to EUR693m.
