Antolin reports 10% revenue growth in first nine months of 2023

Antolin has announced a substantial 10% increase in revenues, reaching EUR 3,533 million in the first nine months of 2023, compared to the same period last year. The positive performance was attributed to growth in all regions, with a notable focus on Asia, particularly India and China.

Robust Performance Across Regions

Antolin’s robust financial results were driven by positive performances in all of its operating regions. Notably, Asia emerged as a key contributor, where the company experienced a 12% increase in sales, amounting to EUR 564 million. This growth outpaced the 7% increase in vehicle production in the region, showcasing the strength of Antolin’s business in India and China.

Efficient Operations and Cost Optimisation

The company achieved an impressive EUR  249 million in EBITDA between January and September, marking a 12% growth. This accomplishment was attributed to efficiency measures implemented under Antolin’s transformation plan, coupled with effective cost optimisation and control. The positive results align with the broader global trend of a 9% increase in vehicle production over the first nine months of the year.

Key Growth Drivers: India and China

Antolin’s strategic focus on high-growth markets was evident in the 12% sales growth in India and China. Sales in Europe and other markets also climbed by 12%, reaching 1,759 EUR million. In North America, Antolin’s operations posted a 6% revenue increase, totaling EUR 1,209 million.

Transformation Plan and Market Expansion

As part of its transformation plan, Antolin is actively expanding its presence in high-growth markets, particularly in China. The company aims to offer more value-added products to customers by leveraging its capabilities in lighting, electronics, and HMI solutions. The overarching goal is to achieve sustainable and profitable growth while solidifying its position as a leading provider of technological solutions for vehicle interiors.

Focus on Electric Mobility

Antolin is strategically positioned to tap into the opportunities presented by the growing demand in electric mobility. Antolin supports the electric strategies of both traditional and emerging manufacturers, with a strong emphasis on the Chinese market. The company is a supplier to 14 all-electric brands globally, and in 2022, approximately 40% of electric cars sold worldwide were equipped with Antolin components.