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Grupo Antolin opens innovation centre in China, revenue plunges | Automotive Business Information
Group Antolin mentioned it had improved its monetary place with new COVID-19 monetary help loans from Spain, France and the UK.
It had opened an innovation centre in China and all crops have been working whereas complying with virus prevention protocol.
“Income in July has carried out positively,” the inside know-how specialist added in an announcement.
The brand new R&D centre in China contains an electronics laboratory to supply higher customer support.
“[The group] has demonstrated that it has a sound, resilient and versatile enterprise that’s able to withstanding the best disaster ever skilled by the automotive business. Over the previous few months, the corporate’s precedence has been to guard the well being of all its workers and guarantee enterprise continuity and liquidity, regardless of the extreme market disruption,” the provider mentioned in an announcement.
The COVID-19 disaster triggered a historic 65% collapse in world automobile manufacturing in April, when the pandemic led to the closure of nearly each automotive manufacturing plant on the planet. International automobile manufacturing fell by 33% within the first half of the 12 months. Consequently, Grupo Antolin’s gross sales between January and June have been EUR1,553m, in comparison with EUR2,678m a 12 months in the past.
The autumn in gross sales and the restricted time to adapt the associated fee construction brought about the gross working revenue (EBITDA) to plunge to EUR52m within the first half of the 12 months, in comparison with EUR226m in 2019.
“At present, all crops are operational and income in July has carried out positively. Analysts forecast a progressive market restoration if the evolution of the pandemic so permits. Nevertheless, they estimate that we are going to not return to 2019 manufacturing figures till 2022 or 2023,” Grupo Antolin mentioned.
“[We have] a sound monetary place from which to cope with new market disruptions, with a liquidity of EUR452m between money and undrawn loans, as of 1 September. The corporate has improved its liquidity after receiving loans inside the framework of the COVID-19 monetary help plans carried out by the governments: EUR51m in Spain and France, and GBP20m in the UK.”
The brand new innovation centre in Shanghai will permit the provider higher and extra rapidly adapt to wants and necessities of consumers in China, particularly in initiatives “centered on the brand new electrical mobility”.
The centre homes the brand new Antolin headquarters in China, bringing collectively all company departments plus engineering and know-how growth. It has an electronics laboratory and a showroom the place merchandise are demonstrated each bodily and utilizing digital actuality. Round 100 individuals work there.
“We proceed to launch new initiatives and initiatives – the most effective instance being the brand new innovation centre – as a part of the transformation we began a while in the past, with the intention of strengthening our place as a world provider of technological options for the inside. We proceed working so as to add extra worth to our merchandise by integrating electronics, lighting options, ornamental components and the brand new know-how that automobiles of the long run will incorporate”, mentioned chairman Ernesto Antolin.