Burgos, Spain — Grupo Antolin, which supplies automotive seating and interiors, had EUR 1.27bn sales in the first quarter of 2019. This is down 1.67% on the equivalent period last year.
Adjusted EBITDA across the business rose by 9.3%, reaching EUR 98.5m in the first quarter of 2019. This compares with EUR 90.1m in the same quarter a year earlier.
The company said it achieved the results 'in the context of significant decline in worldwide automotive production'. It cited falls in the biggest market and uncertainties in the business such as Brexit and trade tensions.
The company said adjusted EBITDA in the headliners and soft trim part of the business fell by 23.4% year to year, at EUR 28.4m in the first quarter of 2019. Sales in the division were EUR 480m.
The change in adjusted EBITDA in headliners was more than offset by an EUR 11.5m increase in adjusted EBITDA in the doors and hard trim business. Adjusted EBITDA here reached EUR 58.1m, with sales of EUR 462m.
The company's plant in Spartanburg, which makes headliners and doors, struggled with boot linings during the quarter. These are for new BMW SUVs and the VW Atlas models.
Antolin said it intends to expand in to new markets. It is opening a site in Vietnam to supply VinFast, a new carmaker that is launching with two new models this summer. It also has 14 projects supplying parts of Chinese electric mobility projects.
|Grupo Antolin numbers Q1 2019 ( EUR m)|
|Group||Q1 2019||Q1 2018||Change %|
|Source: Grupo Antolin|