MADRID, 25 Nov. (EUROPA PRESS) –
The manufacturer of vehicle components Grupo Antolin posted net attributable losses of 166.7 million euros in the first nine months of 2020, compared to the 6 million it earned a year earlier, despite the fact that during the third quarter the company recorded a “recovery” of your activity.
So far this year, Grupo Antolin had a turnover of 2,612 million euros, 32.1% less when compared to the 3,850 million euros that it entered in the same period of 2019.
In addition, the company recorded a gross operating profit (Ebitda) of 144 million euros, 53.3% less than the 307 million it earned between January and September of the previous year, due to the fall in automotive production due to the crisis of the coronavirus.
However, the company has highlighted the improvement in its results during the third quarter. Thus, between July and September, the multinational based in Burgos recorded a net loss of 9.4 million euros, less than the 14 million it lost in the third quarter of the previous year.
ITS EBITDA IMPROVES 12.7% IN THE THIRD QUARTER
In this sense, Grupo Antolin entered 1,059 million between July and September, 9.6% less. However, its gross operating profit rose 12.7% to 91.4 million euros.
“Grupo Antolin has shown that it has a solid, resilient and flexible business that is being able to face the Covid-19 crisis. During these months, the company’s priority has been to protect the health of all employees, ensure business continuity and protecting liquidity, despite strong market disruption “, the Spanish firm highlighted.
In this sense, he has shown his “optimism” about the future evolution of the sector, although he has acknowledged that analysts estimate that the industry will take “a while” to reach the production levels of 2019.
ORGANIZATIONAL CHANGES
Grupo Antolin has also announced a series of organizational changes as part of its business transformation process, for which it has created the Corporate Industry Division, which will centralize the management of all operations to achieve the maximum possible synergies.
The Doors and Instrument Panels business units will also be unified under the same management, which will be called Cockpits and Doors, with the aim of seeking operational synergies.
Among other elements, Antolin has created the Sustainability Division with the aim of reinforcing the work that the Corporate Social Responsibility and Environment areas have been carrying out.