Interiors supplier Antolin said revenue rose 10% year on year to EUR3,533m in the first nine months of 2023 compared to EUR3,220m year to date 2022.
EBITDA rose 12% to EUR249m “accomplished in part by the efficiency measures rolled out under the transformation plan coupled with cost optimisation and control”.
This growth was posted in a challenging economic environment shaped by high inflationary pressures and a general rise in interest rates, the supplier said.
“Nevertheless, Antolin was able to deliver positive performance due to the robustness and diversification of its business and its ability to adapt efficiently to the market situation. Global vehicle production grew by 9% over the first nine months of the year.”
The transformation plan targets an increased presence in markets with high growth potential, such as China, and offering more value added products by using lighting, electronics, and HMI capability.
This year Antolin has won new projects worth EUR5,300m.
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It noted electric mobility “calls for a more technological vehicle interior delivering a better travel experience to the passenger”.
It now supplies 14 all electric brands world wide and claims around 40% of electric cars sold in 2022 had Antolin components.
Asia sales, due to the strength of business in India and China, rose 12% to EUR564m compared to 7% growth in vehicle production.
Sales in Europe and other markets climbed 12% to EUR1,759m while North America revenue was up 6% to EUR1,209m.