Antolin continued to improve margins and profitability in the first half of 2024, even as it faced an increasingly challenging and volatile industrial environment. The company increased gross operating profit (EBITDA) by 12% to €180 million, thanks to the improvement in efficiency and strict cost controls that helped offset the drop in sales.

The EBITDA margin stood at 8.4%, 1.7 percentage points higher than in the same period of last year, further progressing towards the target of reaching a double-digit margin in the medium term. Operating profit (EBIT) increased by 44% to €61 million.

Global vehicle production fell by 0.2% to 43.6 million units in the first half of the year. This slowdown, coupled with the conclusion of certain programs in North America and the impact from exchange rates, led to Antolin posting sales of €2,155 million between January and June, versus €2,401 million (-10%) in the same period of the previous year. Adjusted for exchange rates and on a like-for-like basis following the divestment of the Austrian Ebergassing plant last year, revenue fell by 5%.

Source: Antolin