Magna Interiors

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Magna Interiors GRUPO ANTOLIN forma Nº72 - June 2015 GRUPO ANTOLIN ACQUIRES MAGNA INTERIORS The acquisition means that together, the company On April 16, 2015, Grupo Antolin announced the largest opera- were presented, showing some magnificent figures that will would have registered global sales of 4,062 million tion in its history, the acquisition of the interiors division of the help it successfully carry out the purchase of Magna Interiors. euros in 2014 and had a workforce of over 27,000 Canadian company Magna for the sum of 490 million euros. This operation, subject to approval by the competition author- employees. On the same day, the results obtained in the 2014 financial year ities, will be completed in the third quarter of 2015. PAGE 2 JOSÉ MANUEL TEMIÑO RECEIVES SUMMARY THE HONOR AWARD FROM AWARDS CASTILLA Y LEÓN ECONÓMICA Saarlouis in USA, Rosslyn in Our CEO took advantage of the event to thank the Antolín family South Africa & Trimtec in Brazil PAGES 12 & 13 for their trust and all the employees for their hard work PAGE 8 NEWS IN BRIEF Presence at several forums PAGES 14 & 15 LABOUR HEALTH AND SAFETY In India, Mexico & Slovakia PAGE 16 INNOVATION Sky-fx The end user voice PAGE 17 DESIGNING THE FUTURE New concept of the vehicle interior PAGE 18 ERNESTO ANTOLÍN, CHAIRMAN OF GRUPO ANTOLIN, FINALIST OF THE EY ENTREPRENEUR OF THE YEAR AWARD 2014 Our Chairman has been the Spanish representative at the EY BACK COVER World Entrepreneur Of The Year celebrated in Monaco PAGE 9 Geneva Motor Show PAGE 20 grupoantolin 2 INFORMA IN COVER june 2015 Grupo Antolin acquires the interior of MAGNA Becomes the THIRD largest global supplier of vehicle interiors “We are leading the consolidation of the industry in order to become more competitive and offer the best solutions to our customers” Ernesto Antolín, Chairman of Grupo Antolin GRUPO ANTOLIN BEGINS A NEW PHASE AS A LEADING PLAYER IN THE AUTOMOTIVE On April 16, 2015, Grupo Antolin announced the largest operation in its INTERIOR INDUSTRY history, the acquisition of the interiors division of the Canadian company · It will become the third largest global supplier Magna for the sum of 490 million euros. On the same day, the results of interiors obtained in the 2014 financial year were presented, showing some · It will double its current size, reaching sales magnificent figures that will help it successfully carry out the purchase of more than €4 billion and a workforce of of Magna Interiors. This operation, subject to approval by the competition over 27,000 employees authorities, will be completed in the third quarter of 2015. · It will reinforce its presence in key areas such as Europe and the USA, and diversify its This is the start of a new phase in which Grupo Antolin, on be- customer and product base coming the third largest global supplier, will play a leading role in the automotive interior industry. It will double in size, reinforce · It will be able to fully equip the interior its already solid global platform and add new products and tech- nologies that will allow it to fully equip the interior of a vehicle. In of a vehicle thanks to new products and short, it will become a more diversified and therefore more resis- technologies tant company, one that will undoubtedly play an important role in the automotive industry. grupoantolin 2015 june INFORMA 3 A MORE DIVERSIFIED AND STRONGER becoming a leader in the interiors industry and offering the markets (Europe and United States) and with growth in COMPANY best solutions to the customers. It is a necessary step to the automotive industry that is estimated to be 4.4% annu- make the Group stronger through reinforcing its diversifi- ally up to 2018, with expected increases of 2.7% in NAFTA, In an industry as competitive as the automotive sector, cation in terms of technologies, customers and markets. 3.2% in Europe and 7.4% in Asia Pacific. size is key when it comes to responding to the major ve- hicle trends (comfort, sustainability, global platforms, Grupo Antolin has completed the most important opera- Financial soundness and a clear strategic direction are go- technology agreements with OEM’s, growth outside the tion of its history at its best moment. In 2014 it achieved ing to allow Grupo Antolin to successfully complete the traditional markets). sales of €2,225 million and an operating profit of €175 mil- acquisition of Magna Interiors, the financing of which has lion, figures that show the success of the company’s man- involved signing a five-year syndicated loan of €200 million The acquisition of Magna Interiors responds to the need to agement model. The purchase also coincides with a sig- (which involves 10 banks headed by Deutsche Bank) and is- create a larger and more solid industrial group, capable of nificant improvement in the economies of its two largest suing a bond of €400 million. PRODUCTS PRESENCE CUSTOMERS PRODUCTS The complementarity of the businesses of both companies is one of the main attractions of this operation that will not only · Ability to offerthe complete vehicle interior increase the size of the company, but also see the arrival of new resources and technologies that will help it to more suc- · New products: Instrument panels cessfully address new challenges. · New technologies for producing doors Grupo Antolin will add instrument panels to its product port- folio, a product it has not manufactured until now. It will also · Global leadership in overhead systems add key technology that will reinforce its doors unit. All of this is added to its global leadership in overhead systems and its · Strong presence in seats and lighting solid presence in lighting and seats. “We are very happy to have found the opportunity to acquire a business that is so complementary to ours. This operation allows us to perform a consolidating role in the vehicle interiors sector and respond to the demands of the market. We will be more competitive in technology and have a greater capacity to generate economies of scale” Ernesto Antolín Chairman of Grupo Antolin Instrument panels will create a fifth Business Unit. From now there will be Overhead Systems, Doors, Seating, Lighting and Instrument Panels. grupoantolin 4 INFORMA june 2015 PRODUCTS PRESENCE CUSTOMERS INTERNATIONAL PRESENCE · Strong presence in the major automotive markets: · Global platform to respond to the needs of customers - Greater presence in the USA, where it will gain weight in In terms of international presence, Grupo Antolin will reinforce the doors area its position in key markets for the industry with a strong pres- - Consolidation in Europe and an extremely important ence in Europe, North America and Asia. This operation will al- industrial position in Germany and the UK low for the consolidation of a global platform and will extend - Reinforcement of its presence in China relationships with the customers. “The key reasons for purchasing Magna have been to increase our presence in + the United States and with high-end customers” María Helena Antolín Vice-Chairman of Grupo Antolin GRUPO ANTOLIN MAGNA INTERIORS PRODUCTS PRESENCE CUSTOMERS CUSTOMERS · Presence in all segments of the industry and reinforcement of The Group has the support of its customers to complete the op- its position with some, such as: Jaguar-Land Rover, BMW and eration. The market is experiencing a time of consolidation and Mercedes vehicle manufacturers need increasingly large suppliers to help them innovate. · Well-balanced portfolio In this context, complementarity in the customer portfolio has be- · Consolidation of long-term relationships come one of the most important aspects and Grupo Antolin will ex- pand its presence in all segments and strengthen its position with · The operation is supported by the customers General Motors, Jaguar-Land Rover, BMW and Mercedes. “Our customers have . encouraged us to complete €627 M the operation given that we BMW Daimler Renault Nissan are an industrial partner, a family company with 2000 a long-term project that Others GM PSA Group Ford Volkswagen Group €1,685 M relies on the support of our Daimler shareholders” José Manuel Temiño 2007 CEO of Grupo Antolin Others BMW GM Chrysler PSA Group Ford Renault Nissan Volkswagen Group TATA Group Jaguar €2,225 M Land Rover Daimler 2014 Others BMW GM Hyundai PSA Group FIAT-Chrysler Group Renault Nissan Volkswagen Group Ford KIA TATA Group Jaguar €4,062 M Land Rover 2014 Others Hyundai PSA Group GM Daimler Renault Nissan BMW Group Ford FIAT-Chrysler Group Volkswagen Group PF COMBINATED PF KIA grupoantolin 2015 june INFORMA 5 IN 2010 IN 2014 WITH MAGNA INTERIORS TODAY OVERHEAD DOOR SEATING OVERHEAD DOOR SEATING LIGHTING OVERHEAD DOOR SEATING LIGHTING COCKPIT 22 COUNTRIES 25 COUNTRIES 27 COUNTRIES 86 FACILITIES 125 FACILITIES 161 FACILITIES SALES SALES SALES €1,780 M €2,225 M €4,062 M 11,788 15,400 27,000 EMPLOYEES EMPLOYEES EMPLOYEES TRUST IN THE EXPERIENCE OF GRUPO ANTOLIN Grupo Antolin is a family business with a sound shareholder that has an ambitious business project for the future. The Antolín fam- ily has shown its long-term commitment to the company and its staff. Both companies also have strong management teams which are highly committed to the success of the operation. Despite the possible cultural differences, the two companies have one very im- portant thing in common: their desire for leadership. A QUICK AND PROFESSIONAL MERGER · Grupo Antolin has created a merger team with professionals from both companies FINANCIAL STRENGTH · At first, the exchange of best practice will be encouraged · Strong results in 2014 · Creation of a new business unit · Sales, +6.8% A team has been created to handle the merger process. This is made up of professionals from both companies and it will have · Ebitda, +18.7% all the resources necessary to ensure that the best practices of each company are established.
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