Burgos, Spain – Automotive interiors company Grupo Antolin generated sales of EUR 1060m in the third quarter of 2020, down 9.6% on the same period last year. Adjusted EBITDA across the business rose by 12.7%, to EUR 91.4m in the quarter.
The company said its sales in the UK, Mexico, Germany and France and Brazil fell. However, the fall across each business unit was less intense than it had been in the second quarter as the business recovered.
EBITDA improved because different parts of the business did well in different parts of the world. The headliners and soft trim parts of the business performed well in Europe, despite sales falling 13% because of coronavirus shutdowns.
The company is in the middle of a cost savings programme. It estimates this will generate EUR45m in savings from industrial processes by the end of the year. A further EUR24m in savings are expected from a restructuring of its technical and commercial operations, and EUR 2m from managing its facilities better. Overall, the process should shave between EUR50m and EUR 60m off costs from 2021.