ANTOLIN
Earnings back in the black for automotive supplier after Q1 loss / Turnaround follows intensive cost-cutting
Thanks to incoming orders of EUR 3.5 bn, Grupo Antolin (Burgos, Spain; www.antolin.com/en) has announced a small profit of EUR 19.7 mn in the second quarter after a first quarter still slightly in the red.

In terms of operating results from continuing operations, the family-run automotive supplier reported a profit of EUR 40.2 mn in the second quarter, quite a difference compared to the weak year-earlier period and the first quarter, which was just in the black. At the same time, sales rose 11.2% on the year to EUR 1.24 bn and were also around 7% higher than in the first quarter. Sales jumped 21% in Asia, 14% in North America, but slipped 6% in Europe.

Considering the environment, savings measures are being intensified. The company spent EUR 30 mn on transformation in the second quarter alone. In addition to the short-term optimisation of processes, plans include a medium-term reorganisation into a Product Systems unit with operations that are more mature, slow-growing, and once considered core activities, and a Technological Solutions division for growth drivers.

In the past financial year, Antolin – with 24,000 employees at 130 plants and JIT production centres – reported a significantly larger loss of EUR 225.6 mn compared to 2021. At the same time, revenues increased almost 10% to EUR 4.45 mn. The development in the first half of 2023 seems to point to a noticeable recovery, but one that may be incomplete.
16.08.2023 Plasteurope.com [253402-0]
Published on 16.08.2023
Antolin: Knapp zurück in den schwarzen ZahlenGerman version of this article...

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