Grupo Antolin sales during the first quarter of 2015 were EUR668.4m (US$743.42m), representing 20.2% increase over the same period last year.
Sales have been boosted in Europe, NAFTA, and Asia with the launch of new projects in 2014 as well as currency exchange effects, which in this case have benefited the company’s figures. In Mercosur sales were affected by the drop in production (12.8% in the first quarter) and Brazilian currency devaluation.
Antolin said all business units are achieving double-digit growth except for seating, whose figures reflect the end of one project and the normalisation of another two. The sales figures already show the impact of the group’s new facilities in Valencia and Missouri which have begun to generate recurring revenues.
Grupo Antolin’s margins are slightly higher than in the same period last year. These figures are due to the launch of new orders that had been allocated during the previous months, but most of all to the enormous effort made to contain fixed costs which remain at the level of March 2014.
The company’s EBITDA came to EUR99.9m and EBIT stood at EUR76.2m. This is significant growth, but the company’s management team does not believe it is setting a trend for the remainder of the year.
Evolution of the quarter
During the first quarter of 2015 Grupo Antolin has announced the purchase of Magna’s interiors division. With this transaction the company has established itself as a leading global supplier of technology for car interiors. For Grupo Antolin, this proposed acquisition is a strategic opportunity to extend its leading technologies; reinforce and diversify its international footprint; and to deepen and expand key commercial relationships by creating a large and balanced customer portfolio.
At present the transaction is pending approval by the competition authorities. Once this has been achieved, Grupo Antolin would double in size and would achieve over EUR4bn in sales and a workforce of 27,000 employees.
Furthermore, in February 2015 Grupo Antolin announced the appointment of Ernesto Antolín as chairman to replace José Antolín Toledano, who after more than 20 years in this position and a lifetime devoted to the family business has become chairman.
On the same day it was announced as part of the generational change planned by the company that José Temiño, the CEO of Grupo Antolin, is to step down next 30 June and will be replaced by Jesús Pascual, the company’s chief operations officer.