Interiors supplier Antolin said it grew first quarter 2024 EBITDA by 20% year on year to EUR83m on sales down 10% to EUR1,039m.
EBITDA margin was 8%, up 2% year on year thanks, the company said, "to the efficiency measures and strict cost controls of [the] transformation plan".
Operating profit (EBIT) increased 156% to EUR23m.
In the first three months of the year, global vehicle production fell 1% to 21.4m units, with a slight drop in volume in both Asia and Europe.
By region, Antolin recorded sales of EUR542m in Europe and the rest of the world, compared to EUR605m a year ago (-10%).
Due to the divestment of the Ebergassing plant, sales in that region fell 3%, in line with the 2% production drop in the market.
Asia revenue was EUR173m versus EUR177m in Q1 2023 (-2%).
North America revenue was EUR323m, down 14%.
