Grupo Antolin has reported sales revenue up 11.2% to EUR2.9bn (US$3.3bn) in the first nine months of 2021.

Gross operating profit (EBITDA) from January to the end of September improved by 45.8%, up to EUR210m.

The Spanish supplier notes the results were achieved in the context of the severe impact the semiconductor shortage in the industry is causing, as well as the generalised rise in raw material prices. This year, nearly 10m 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.

Antolin expects when the industry situation returns to normal in the coming months, high demand for cars will produce sustained growth in global sales during the medium term. In this context, the company is focused on improving its efficiency and keeping costs under control, as well as preserving profitability and generating cash flow.

The company’s solutions and products can now be found in nearly 100 models (both in production and in development), which use different types of alternative technologies, from Battery Electric Vehicles to Plug-in Hybrid Electric Vehicles and cars powered by solar cells. The company supplies well-established manufacturers, as well as start-ups specialising in electric cars, with a strong focus on China.

In regard specifically to electric vehicles, Grupo Antolin is working on a line of products aimed at reducing vehicle weight and optimising thermal and acoustic insulation.