The second quarter of 2022 was significantly better than the first three months of the year for automotive supplier Grupo Antolin (Burgos, Spain; www.grupoantolin.com). Compared to the same quarter last year, EBITDA rose by almost 16% to EUR 86.4 mn, while revenue amounted to EUR 1.12 bn (up 7.4%).

This means that the second quarter has almost offset the declines of the first quarter: turnover at the beginning of the year was EUR 981 mn, around 9% below the same period last year. At the same time, EBITDA had fallen by almost 40% to EUR 59.5 mn due to slumps in the European market – mainly caused by semiconductor shortages and the war in Ukraine.

Related: Antolin: concerns over semi-conductor shortage

Within the first six months, the overall development of growth was uneven. While Europe improved to a minus of only 12% after the second quarter, the North American market grew by 10% overall – after only a slight plus of 1% in the first quarter. Business in Asia improved by 13% in the first half of the year overall, which means that the second quarter was slightly weaker than the first. This was mainly due to a poor performance in China.

In the second half of the year, the Spanish company expects considerable uncertainty to continue in the automotive market. A strong emphasis will therefore remain on efficiency and cost control. At the same time, Antolin is stepping up its efforts to reduce carbon emissions. These are now supposed to be reduced by 75% by 2028 – in contrast to the previously issued target of 30%.