Grupo Antolin Half-Year Report 2024

Highlights

• Net turnover of €1,116.1 million in Q2 2024, down 10.2% (-5.4% on a constant currency considering the dollarization of our Mexican business and excluding Ebergassing figure in Q2 2023, a subsidiary which was sold during the last quarter of last year) vs. Q2 2023 and compared to -0.5%1 industry production growth on a worldwide basis. FX evolution reduced our total sales by around €23.8 million mainly due to the negative evolution of the USD, the Chinese Yuan, the Argentinean peso and the Czech Koruna against the Euro.
• Net turnover for components (without including Tools on behalf of customers) decreased by 12.9% up to 1,055.2 million euros. In Q2 2024 tooling sales amounted to 60.9 million euros, compared with the 30.9 million euros recorded in Q2 2023. 
• EBITDA of €97.2 million in Q2 2024, thus representing a 6.2% increase (+10.3% on a constant currency) vs. Q2 2023 (€91.5 million), while EBITDA margin materially improved to 8.7% compared with the 7.4% recorded in Q2 2023.
• Excluding one-off costs and including synergies linked to the 2023-2026 GOA Transformation Plan which totaled 37.5 euro million at 30.06.2024 (LTM, 7.9 euro million for Q2 2024), EBITDA margin was 9.4% vs. 8.2% in Q2 2023 (one-off and synergies of €10.0 million in Q2 2023).
• The evolution of exchange rates negatively impacted our EBITDA by around €3.8 million in the period.
• EBIT of €37.7 million in Q2 2024 (+13% YoY) vs. €33.3 million recorded in Q2 2023, while EBIT margin improved by 0.7 percentual points to +3.4% vs. +2.7% in Q2 2023.
• Cash available of €200.5 million.
• Available credit facilities of €128.8 million.
• Cash and long-term undrawn committed credit lines of €329.3 million versus short-term maturities of €159.6 million (excluding €130.0 million of drawn RCF which can be roll-over until June 2029).
• Net Financial Debt to EBITDA of 3.3x (for covenant purposes: excluding one-off costs and including synergies linked to the 2023-2026 GOA Transformation Plan which totaled 37.5 euro million).
• Interest coverage (EBITDA to Net Financial expenses) of 4.6x (for covenant purposes: excluding one-off costs and including synergies linked to the 2023-2026 GOA Transformation Plan which totaled 37.5 euro million).