Grupo Antolin third-quarter sales fell 9.6% to EUR1.06bn (US$1.3bn), while EBITDA grew 12.7%.

“The company’s activity has recovered progressively between July and September, thanks to the improvement of the markets since the historic crash in April,” said a Grupo Antolin statement.

“Grupo Antolin’s sales in the third quarter were EUR1,060m, a reduction of 9.6% compared to the same period of the previous year, but a clear improvement compared to the 65% drop in revenue in the second quarter.

“Grupo Antolin has shown it has a strong, resilient and flexible business that is managing to cope with the COVID-19 crisis. During these months, the company’s priority has been to protect the health of all employees, ensure business continuity and protect liquidity, despite the considerable disruption of the market.

“The company is optimistic about future developments in the sector, although analysts estimate that the industry will take some time to reach 2019 production levels.”