INTEGRATED REPORT 2021

05
02
Strategy:  
Sustainable innovation to 
make the diference
01
Antolin today:  
A history of leadership
03
07
04
06
Index
Environment management: 
From commitment to 
positive impact
Stakeholders: 
At the center of 
everything
Appendix
11
88
69
55
37
3
24
Business model:  
Solutions for the vehicle of 
the future
Concious leadership:  
The value of doing things 
well
2.1 A challenging context
12
2.2 Our strategic approach
16
2.3 Towards the future
23
3.1 Integrated business model
25
3.2 Global automotive market
29
3.3 Business development
34
4.1 What move us: Vision and 
Values
38
4.2 What guide us: Corporate 
Governance
39
4.3 We are setting standards: Ethics 
and compliance
46
4.4 Preventing and controlling risks
53
5.1 Reinforced environmental 
strategy
56
5.2 Towards a positive net impact 
on the planet
58
5.3 Better people for a better 
future
65
6.1 Investors
70
6.2 Customers
72
6.3 People
77
6.4 Supply chain
85
7.1 Economic efficiency
89
7.2 Sustainability balance sheet
93
7.3 Indicators
96
7.4 About this report
100
1.1 Conversation with the 
Chairman
4
1.2 We are global
6
1.3 2021 Milestones
7
1.4 Key factors for the year
10

01
Antolin today
A history of leadership
For over seventy years, we have been working with the most 
valuable raw material in the universe: commitment. Thanks 
to this way of understanding our work, we have been able to 
transform the trust shown by our customers into specific solutions 
to contribute to the revolution of the new mobility. With the same 
enthusiasm as we had on day one and 
with our trademark refusal to conform, we want to go further: 
promoting the creation of value in our entire environment and 
doing this while being proud of what we are today 
and what we will continue to be tomorrow.

4
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
1. Antolin today: A history of leadership
1.1. 
Conversation with the Chairman
	❯In Grupo Antolin’s last report, you summed up the 2020 
financial year with two words: responsibility and solidarity. 
What words or what headline would you use to summarize 
Grupo Antolin’s performance during 2021?
The 2021 financial year has been very complex for the entire industry as 
a consequence of the global economic effects the pandemic has con-
tinued to cause; the most significant being the disruption to the global 
supply chain, but we should also not forget the inflationary pressure 
through raw materials and logistics. It is undoubtedly a challenging 
situation, but the strength of large companies is being demonstrated at 
this time and I believe that Grupo Antolin has been able to rise to the 
occasion. Thanks to our teams, who are the heart of our business, we 
have once again shown our great capacity for adaptation, flexibility and 
efficiency in responding to this environment. 
	❯A major milestone this year is approving the new 
environmental, social and governance objectives to continue 
developing its sustainable business model. What has been 
considered when defining these and what does it mean for the 
company?
The approval of the new objectives is another very important step in 
our commitment to our activity helping in some way to build a fairer 
and better planet in all regards: environmental, ethical, respect for 
Human Rights, development of talent in the new generations and 
more. As companies we are not isolated entities, but rather key mem-
bers of the society in which we live, so we have a big responsibility to 
contribute to its development and well-being. This is even more true 
for a company with the characteristics of ours, which is so diverse, with 
many nationalities and operating in dozens of locations throughout 
Ernesto Antolin
Chairman of Grupo Antolin
26 countries; many in small towns where we are the leading employer. 
With this conviction, the objectives seek to generate value in three 
main areas –Planet, People and Business– through specific and tangi-
ble initiatives, which have been being developed for years, but which 
will now gain new momentum and strength. The framework for action 
for all of this is the 2030 Agenda, its associated objectives and goals, 
and the 10 Principles of the Global Compact to which we have been 
fully committed since 2004.
 
	❯The automotive industry is facing a particularly challenging 
situation due to the demands arising from a new way of 
understanding mobility. How is Grupo Antolin responding to this 
enormous challenge?
First of all, what we are certain about is that the vehicle will continue 
to be the main element in the new mobility, as it has been for more 
than a century, but it will be a completely transformed vehicle that 
is more focused on people and their real needs. A vehicle that will 
offer services and features never seen before that will make it a more 
important space in our daily lives. Connectivity, digitalization and sus-
tainability are the key elements of that transformation. At Antolin, we 
want to participate through our specialist area, the vehicle interior, 
to help create a smart space that focuses on the passenger, providing 
safety, comfort, entertainment and, of course, all this in a more sus-
tainable compartment. The business strategy we launched three years 
ago follows this road map and we are making progress along the right 
path.
With the determination to be better each day, 
we continue to build a business model that seeks 
to have a positive impact on our stakeholders, 
while moving forward with the strategy 
to establish ourselves as a provider of 
innovative and advanced vehicle interior solutions

5
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
1. Antolin today: A history of leadership
	❯What milestones or initiatives within that strategy would you 
highlight for this financial year?
I believe that all the work on the development of new solutions that add 
more value to our products by incorporating electronics and lighting 
content has been very important. For example, we won the contract for 
the first touch control unit project, which brings together a sophisticated 
decorative design, ambient lighting, capacitive switches and electronics 
into a single part. We have also expanded our strategic partnerships 
and it is worth highlighting the new joint venture with NAEN that has 
improved our capacities in advanced electronics in the Chinese mar-
ket. In terms of innovation, we presented the two new virtual Concept 
Cars to the market and to the customers. These reflect our vision of the 
vehicle interior of the future and the innovative solutions on which we 
are working. We were also at the Shanghai Auto Show for the first time, 
showcasing our disruptive technologies in three strategic areas: cock-
pits, electronics and lighting & HMI (Human Machine Interface).
	❯As you explained, innovation and technological development 
play a central role in the strategy. What are the key elements of 
this commitment to innovation as a core business strategy?
When we talk about innovation at Antolin, we are not just referring 
to what happens in the Innovation Department. We are referring to 
360-degree innovation as the foundation for a working culture that is 
always open to new ideas and that promotes boldness with the ultimate 
goal of seeking the best solution, product or process. It is an innovation 
that puts the customer at the center and it is a key piece in the devel-
opment of the company’s sustainable business model. Starting from 
this principle, we are taking advantage of the full potential offered by 
digitalization and new technologies in the research and development of 
Our responsibility as a company is to create an ideal working envi-
ronment, one that is safe, diverse, motivating and that encourages 
continuous learning, and to provide the appropriate tools and knowl-
edge to achieve this. In the area of talent, which is key to the success 
of any company, employees must be offered training and professional 
development opportunities and we must ensure that we have the ap-
propriate people that we need today and, above all, that we are going 
to need in the future. We are therefore strengthening our dual training 
and young talent development programs and expanding agreements 
with national and international universities. 
	❯Let’s take a moment to think about the future three years from 
now. How do you see it as the chairman of a large company like 
Grupo Antolin?
We are facing tough challenges due to the stoppage of customer produc-
tion resulting from the semiconductor crisis and the rise in raw material 
prices, but we have the ability to overcome them and come out stron-
ger thanks to hard work, commitment and our ambition to be the best, 
which have been the essential factors, together with the commitment 
to innovation, in turning us into one of the market leaders in vehicle 
interiors. This combination will allow us to grow in the coming years in 
such a way that we can help improve mobility by creating smart interiors 
in permanent partnership with our customers. I am also confident that we 
can continue to generate social well-being and wealth in our regions.
processes and products with the idea of adding value. During the year, 
progress has been made in all fields, from topics very closely linked to 
the pandemic, such as work on purification systems inside the vehi-
cle, to more disruptive actions such as research into the potential for 
nano-fibers to improve hydrogen fuel cells. Many advanced industry 
projects are also being applied at our plants and these allow us to be 
more efficient and competitive.
	❯What progress has been made during 2021 in the objectives 
of transitioning toward a low-carbon economy and moving 
towards the circular economy? How has Grupo Antolin 
contributed to these new demands? 
Innovation and technological development are also behind our prog-
ress in the circular economy and support for the decarbonization of 
the industry.
In this regard, we are working on reducing the weight of the compo-
nents, which is essential if we are going to help the brands roll out 
electric vehicles, and on using natural and recycled materials. The 
best example is the development of overhead systems with sustain-
able solutions that use material from urban waste and used tires. Few 
companies in the industry have the experience and knowledge to 
innovate in traditional products, such as a headliner, and turn them 
into a more sustainable solution. Meanwhile, we are making great 
efforts to improve the circular economy in our own value chain by 
working with our suppliers, as well as the new objectives that we 
have set to reduce the emissions from our centers with the goal of 
being a completely carbon neutral company by 2050.
 
	❯Does this profound transformation that the sector is 
undergoing also imply a change in the way professionals in the 
sector work? What is the role of a company like Grupo Antolin 
in this phenomenon? 
If we want to adapt to the rapid changes in our industry, we must 
strengthen our working culture by improving our people management 
strategy in all aspects: leadership, talent management and training.
Our engineering teams are developing 
sustainable products and solutions that offer a 
differential value to the customer, 
who need their key suppliers if they want to meet 
their environmental objectives
At Antolin, our working culture seeks 
excellence and this means that every person 
who makes up the company works every day 
to give the best of themselves

6
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
1. Antolin today: A history of leadership
1.2. 
We are global 
Grupo Antolin is a global supplier of technolog-
ical solutions for the vehicle interior with the 
most complete and extensive offer on the mar-
ket. With a presence in 26 countries, it has nearly 
145 plants in which close to 25,000 profession-
als work. Grupo Antolin’s activity started over 
70 years ago as a modest family business found-
ed in a small workshop in the city of Burgos and 
it continues to preserve the deep-rooted values 
of family companies: a long-term vision and a 
close relationship between the business and the 
owners and management. 
The key to Grupo Antolin’s success over these 
years has been its permanent innovation and 
the talent and effort of its staff, accompanied 
by a strategy based on internationalization, as 
well as management inspired by excellence and 
continuous improvement. Under these premises, 
the company has become a Full Service Supplier 
capable of accompanying the customer in the 
full product cycle, from conception and design 
to the manufacture and delivery of the series. All 
this following a sustainable model that puts all 
its stakeholders at the center: customers, profes-
sionals, investors, the supply chain and society as 
a whole.
Europe
Asia
America
Africa
Germany
Austria
Slovakia
Spain
France
Hungary
Italy
Poland
Portugal
United Kingdom
Czech Republic
Romania
Russia
Turkey
China
South Korea
India
Japan
Thailand
Vietnam
Argentina
Brazil
United States
Mexico
Morocco
South Africa
145 factories
26 technical and sales offices
Presence in 26 countries
It has supplied parts for over 
580 car models on the market
Present in the 5 best-selling cars 
in the world
TIER-1 supplier for 
the main vehicle manufacturers

7
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
1. Antolin today: A history of leadership
	
✓Partnership with Net4Things: to research 
the connected car.
	
✓Plug and Play and Startup Autobahn 
platforms: expansion of the innovative 
ecosystem.
	
✓Recognition of a student from the Polytechnic 
University of Valencia as winner of the Grupo 
Antolin Design Challenge.
	
✓Entry into the Car Connectivity Consortium: 
development of Car Entry Systems.
	
✓Participation in virtual CES to present its two 
new virtual Concept Cars.
	
✓Joint Venture with NAEN in China to 
develop integrated electronic solutions for 
the vehicle interior.
1.3. 
2021 Milestones
Innovation and technology
Sustainable and responsible 
business
	
✓Grupo Antolin-Silao received the Activated 
Company distinction from the Sports 
Commission of the State of Guanajuato 
(Mexico).
	
✓Grupo Antolin-Tlaxcala given an award by 
Geocycle.
	
✓Grupo Antolin-Autotrim recognized by 
Asepeyo for occupational risk prevention.
	
✓Collaboration with Unicef to improve access 
to the COVID-19 vaccine.
	
✓New claim  
Intelligent. Integrated. Inside. 
Presentation of the new claim as part of the 
company’s new brand positioning, which 
focuses on leading the change that the 
industry is experiencing through the interior, 
the vehicle and people.
	
✓Creation of the Automotive Innovation 
Lab. 
	
✓Grupo Antolin-Saltillo received the Heath and 
Safety distinction.
	
✓Recognition from Forética during the JOBS 
2030 meeting.
	
✓eBú has received recognition through 
the EPD certificate.
	
✓Participation in the Ibercaja Sustainability 
Week.
	
✓For the tenth consecutive year, Global 
Compact has granted Grupo Antolin’s 
Progress Report the Advanced Level.
	
✓Presence in the Dossier of Guiding 
Principles on Business and Human Rights 
of the Global Compact.
	
✓CSR Europe includes Grupo Antolin as an 
example of good practice in Workforce 
transition.
	
✓Participation in the Dual Education forum 
of Vocational Education in Shenyang.
	
✓Grupo Antolin-RYA in the European project, 
Working Age.
	
✓Grupo Antolin renews its commitment to 
entrepreneurship with POLO Positivo.
	
✓Presence on the round table of the Institute 
of Governance and Society (Instituto de 
Gobernanza y Sociedad) and the Institute 
of the Company (Instituto de Empresa). 
	
✓Antolin Chengdu: Volvo Cars Green Energy award, which 
recognizes the sustainable supply chain.

8
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
1. Antolin today: A history of leadership
Winner of awards 
from its customers
Other Recognitions
	
✓Changshu Antolin: award from Jaguar and 
Land Rover JLRQ.
	
✓Grupo Antolin-Saltillo recognized by 
General Motors.
	
✓Grupo Antolin-India recognized by 
Chennai Ford.
	
✓Irauto granted an award by 
General Motors. 
	
✓Trimtec and Intertrim have been given an 
award by Honda in Brazil.
	
✓Grupo Antolin-Primera (Louisville), winner of 
the award Ford Q1. 
	
✓Supplier Quality Excellence Award from 
General Motors to Grupo Antolin-Saltillo, 
Grupo Antolin-Michigan, NHK Antolin 
Thailand and Grupo Antolin-India.
	
✓City of Burgos Award for Knowledge and 
Innovation won by Antolin.
	
✓Industrial company with the best reputation 
in Spain according to Merco Empresas.
	
✓Award for the “inAntolin” internal 
communications strategy. 
	
✓José Antolin Toledano won the Castile 
and León Emprende 2021 Lifetime 
Award.
	
✓FACYL recognition for its founding partners 
on its 20th anniversary.
	
✓Recognition for Maria Helena Antolin 
at the end of her term of office as Chair 
of the Spanish Association of Automotive 
Suppliers (Sernauto).
	
✓Grupo Antolin, General Motors 2021 
award as supplier of the year.
	
✓Grupo Antolin, winner of the Best Internal 
Brand category at the Aebrand Awards 
(Spanish Branding Association).

9
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
1. Antolin today: A history of leadership
Present at 
leading events
Global pride of belonging
	
✓Breakfast at Cibeles Palace with the Mayor of 
Madrid on International Women’s Day.
	
✓International Conference on Plastics in the 
Automotive Industry. 
	
✓Round table on industry during the third edition 
of the MOVES program, organized by the 
Ministry for Environmental Transition.
	
✓Participation in the 35th IESE Mobility 
Conference.
	
✓Round table on Circular economy, an 
opportunity for the company at a conference 
by the General Directorate for Quality and 
Environmental Assessment.
	
✓Support for the Choose France initiative at the 
4th International Business Summit Event.
	
✓Round table on the Automotive and 
Aeronautical sector on the occasion of 
preparing the 2nd Industrial Promotion 
Master Plan 2021-2025 of the Regional 
Government of Castile and Leon (Spain).
	
✓35th Meeting of the Digital Economy and 
Telecommunications #santander35 of 
AMETIC.
	
✓ 3rd Women and Leadership Conference 
organized by @50&50 within the 2nd Young 
People and Leadership program, sponsored 
by Grupo Antolin.
	
✓7th European Funds Forum, the keys to 
recovery organized by KPMG and the EFE 
agency.
	
✓25th Anniversary of the Spanish Federation 
of Technology Centers (FEDIT [Federación 
Española de Centros Tecnológicos]).
	
✓National Family Business Conference.
	
✓Centennial Conference of the College of 
Engineers of ICAI.
	
✓6th Global Meeting, the company’s main 
communications event.
	
✓3rd Values Awards, which recognize the 
employees and teams that best represent the 
company’s values.
	
✓Visit by Ernesto Antolin, Chairman of Grupo 
Antolin, to several of the company’s plants.
	
✓13th anniversary of Grupo Antolin-Sibiu.
	
✓Meetings with the CEO: Virtual 
meeting of the chief executive with the 
company’s directors.

10
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
1. Antolin today: A history of leadership
1.4. 
Key factors for the year
145 factories in 26 countries. 
Over100 vehicles launched in 2021 equipped 
by Grupo Antolin.
Over 80 vehicle brands with Grupo Antolin 
solutions. 
€1,937M in purchases of direct material 
from first-tier suppliers.
€1,000M of spending with local suppliers.
98% reporting of suppliers identified with 
conflict minerals.
Investment in R&D+i of €125.22M.
Global business
10 Board of Directors meetings. 
Joint Advisory Board.
Increased female representation in the 
Management Committee.
5,000+ training hours on Compliance and 
Human Rights.
59% of direct material suppliers assessed with 
ESG criteria.
Conscious leadership
Millions of euros 
2020 - 2021
Millions of euros 
2020 - 2021
Investment
(Tangible and Intangible)
Net equity
(Equity + External Partners)
177.8
577.6
217.1
540.4
2020
2021
Consolidated 
average workforce 
(In number)
26,671
25,023
The year in figures
27% reduction in total scope 1 and 2 emissions 
(base year: 2019).
Increased use of renewable electricity by 3.2%. 
113 people dedicated to the prevention of 
environmental risks. 
97 centers certified in ISO 14001. 
6 centers certified in ISO 50001.
Extension of the sustainability objectives to the 
supply chain.
Measurement of the scope 3 footprint for 
transportation at 44 plants.
€855,000+ of social contributions.
(€34.19 per employee. )
1,567 professionals in technology-related jobs.
940,000+ training hours, 37.83 per 
employee on average.
97.77% of professionals with permanent 
contracts. 
Decrease of 2.46% in the Frequency Rate and 
of 16% in the Severity Rate.
Unique talent
Environment management
2021 figures prepared in accordance with International Financial Reporting Standards (IFRS-EU), applying IFRS 16.
% of sales
% of sales
% of sales
Consolidated sales
Consolidated 
EBITDA
Consolidated 
EBIT
Profit attributable 
to Grupo Antolin
6.8%
-0.6%
-3.6%
7%
0.05%
-2.1%
3,974.5
272.1
4,055.4
281.8
-143.9
-25.6
1.9
-84.3

It is time to write the future. To anticipate tomorrow’s 
changes by working today on the most advanced, 
sustainable, and innovative solutions on the market, 
generating value for stakeholders and contributing to 
a fairer and more prosperous world for all. 
This is Grupo Antolin’s commitment and 
this is how it makes the difference. 
02
Sustainable innovation 
to make the difference
Strategy

12
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
2. Strategy: Sustainable innovation to make the difference
2.1. 
A challenging context
Companies are leading 
the transformation of 
the economy toward a model 
that reconciles 
financial profitability with 
sustainable development
A year of progress
Most countries have been in agreement on one 
thing for the last few years, which remains a com-
mon goal, and this is the objective to decarbonize 
the economy to limit the restrict in global tempera-
ture to below 2°C, as stated in the Paris Agreement. 
In this regard, COP26, held in November, appealed 
to the ambition of countries when it comes to 
renewing their NDCs (Nationally Determined 
Contributions) to report annually, instead of every 
five years, on their objectives to reduce emissions 
by 2030. To respond to this ambition, the focus was 
placed, among other issues, on accelerating com-
mitments and actions to reduce vehicle emissions, 
seeking the support of the automotive industry 
and its decarbonization strategies.
In Europe, sustainability is at the heart of re-
covery. Not surprisingly, the European Green 
Deal will receive a third of the €1.8 billion in the 
NextGenerationEU funds. Several plans with an 
impact on the automotive sector form part of this 
framework, such as the strategy for sustainable 
and smart mobility and the increase in restric-
tions on emissions of atmospheric pollutants 
from vehicles, among others. Work is also being 
performed on a new European Union Chemicals 
Strategy for Sustainability, and on circularity ob-
jectives that are featured in the European End of 
Live Vehicles Directive. 
An important initiative for the sector has been the 
entry into force of the European Conflict Minerals 
Regulation in 2021, through which the Member 
States must apply monitoring standards. And while 
the EU is preparing a new Due Diligence Directive, 
countries such as Germany have gone ahead with 
their own law on due diligence in the supply 
chain, which introduces a mandatory standard in 
Human Rights and environmental management 
for all suppliers of German companies.
The great reset
That was the slogan of Davos 2021 which, in a certain way, reflected global hope about the imminent 
arrival of vaccines. Science had played its part and provided an effective solution against the pandemic 
in record time. It was then the turn of political and economic leaders to strive for a sustainable, fair and 
inclusive recovery. 
The road map issued by the World Economic Forum at its annual convention outlined seven key points, 
areas in which the automotive components sector also wants to contribute decisively: How to save the 
planet, Fairer economies, Technology for good, The future of work, Fairer companies, Healthy futures 
and Beyond geopolitics. 
In the Swiss city, the Global Risks Index was also presented, which included technological risks –among 
them, the digital divide– and social risks such as the structural deterioration of job prospects. Faced 
with this threat, the promise, already part of the 2030 Agenda, to “leave no one behind” once again 
resonated strongly and united governments and companies behind a common goal. 
Stakeholder capitalism has ceased to be an 
option and has become an ethical imperative. 
Companies are increasingly expected to act as 
catalysts for social action and respond to the 
demands of investors, employees, legislators and 
society as a whole. Organizations have assumed 
this responsibility and are transforming their 
businesses to generate long-term added value 
in their environments, beyond that measured in 
terms of financial profitability.

13
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
2. Strategy: Sustainable innovation to make the difference
OBJECTIVES
Reduction 
of emissions
OBJECTIVES 
Market share of 
electric vehicles
55% by 2030* and 
climate neutrality by 2050
*Legislative program “Fit for 55” 
in the framework of the European Green Deal
30 million by 2030
50-52% by 2030 
compared to levels from 2005
50% of cars 
sold in 2030, electric 
or zero-emission
Climate neutrality 
by 2060
25% of sales by 2025:  
vehicles powered by 
alternative energies
Beyond Europe's borders, the return to pre-pan-
demic normality has followed different speeds. 
The United States, despite the slowdown caused 
by congestion in supply chains, ended the year 
with the highest growth rate since 1984. 
The arrival of the Biden administration has 
brought the fight against climate change back 
to the forefront of this country’s political agenda, 
with the commitment to reduce net greenhouse 
gas emissions by between 50% and 52% by 2030, 
compared to the levels in 2005. To achieve this 
objective, much of the effort is focused on the 
automotive sector: by 2030, half of new cars sold 
in the country must be electric or zero-emission.
The American commitment follows in the steps of 
China, the leading market for electric vehicles in 
the world, and which is aiming for vehicles pow-
ered by alternative energies to represent 25% of 
sales by 2025. The producers of electric vehicles 
in this country account for 40% of the market 
and, moreover, the production of batteries –the 
core of the electric car that represents more than 
40% of the total cost– is also concentrated in 
Asia, across South Korea, Japan and finally China, 
which is again the leader in this sector.
The promotion of this mobility is a key element in 
the Asian country’s plans to accelerate its green 
transition and achieve climate neutrality by 2060. 
This ambition was made clear in the joint declara-
tion made with the United States in the framework 
of COP26 and through which it commits to pre-
senting, in 2022, a comprehensive plan to reduce 
methane emissions, responsible for around 25% of 
the current warming.
If we look at Spain, the Recovery, Transformation and Resilience Plan set the guidelines for distributing 
the European funds with a focus on a green, digital, and inclusive transformation. Under the scope of 
this plan, in 2021 the Spanish Government approved the first PERTE (Strategic Projects for Economic 
Recovery and Transformation) dedicated to the Electric and Connected Car, in order to create an eco-
system for the development and manufacturing of this type of vehicle and make Spain a European hub 
for electromobility. The 2030 Safe, Sustainable and Connected Mobility Strategy was also adopted last 
year, designed to respond to the mobility challenges of the 21st century and with the coordination of 
all players in this ecosystem. 
Another challenge, included in the Spanish Government’s plan, relates to social cohesion and outlines 
the need to strengthen the digital and technological skills of human capital to ensure a fair transition 
in the transformation of the labor market. This objective is shared by the automotive sector and it has 
been working on this for a long time.

14
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
2. Strategy: Sustainable innovation to make the difference
The sector is adapting to the new 
mobility trends 
and leading by example
Post-COVID-19 scenarios
The impact of the pandemic is reflected in sev-
eral aspects, from the evolution of supply chains 
toward a glocal model, to the cost reduction 
policy of the vehicle manufacturers and the dif-
ficulties in procuring essential raw materials for 
the automotive sector. 
The new mobility
The new mobility is sustainable, smart, afford-
able, and safe. Although the pandemic meant 
a return to the individual use of the vehicle, we 
expect a gradual return to shared mobility and 
public transport, where the vehicle is always at 
the forefront. Consumer concerns about safety 
reflect multiple dimensions: not only must driv-
ing be safe, but the interior of the vehicle must 
be a bubble of health, well-being and safety for 
its occupants. Affordability is also more import-
ant in a context of uncertainty in which people 
prioritize the consumption of goods and services 
with added value.
An expanded mobility ecosystem
In recent years, new players outside the tradition-
al automotive industry have entered the field of 
play, such as technology companies, electricity 
companies, municipal transport bodies, banks, 
mobility services for business companies, con-
sumers and society. One of the great challenges 
of the automotive components sector lies in the 
interconnection between all these new agents.
Industry 4.0s
At a time when the market is becoming increas-
ingly complex, the sector is understanding again 
that the best response is to progress with the 
industry 4.0 model: new manufacturing methods, 
energy efficiency and maximum optimization of 
processes for increasingly complex management. 
All without forgetting the “s” in the reformulation 
of industry 4.0s, that is, the version integrating 
sustainability from start to finish.
Disruptive technology 
Artificial intelligence, cyber security, con-
nectivity and integrated electronics; these 
words are no longer foreign in the language 
of the new mobility. Technological advances 
and software are becoming a differentiating 
element for vehicles, waiting for the great rev-
olution that may arrive with 5G. At the same 
time, greater technological development and 
connectivity also raise new challenges for the 
sector, such as those associated with cyber 
security.
The sector, facing a 
decisive moment 
The automotive components industry is at a time unlike any other 
in its recent history. The present day is marked by structural and 
circumstantial factors, both endogenous and exogenous, that are 
shaping the situation in a sector that has always known how to 
transform its challenges into opportunities. As a result, the sector is 
adapting to the new mobility trends and leading by example in the 
face of new regulatory and stakeholder requirements in relation to 
energy, climate change, raw materials, transparency, cyber security, 
the future of work, ethics, etc.
This transformation is taking place in a challenging environment 
of lower profitability as a result of the social and economic conse-
quences of the health crisis experienced over the last two years, 
which have affected the industry through a severe alteration of the 
supply chain and an increase in logistics, energy and raw material 
costs.

15
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
2. Strategy: Sustainable innovation to make the difference
Connected
Connection between the vehicle’s 
different components and with 
technological platforms capable of 
controlling the performance of the 
vehicle and offering information on 
traffic status, among other services.
Sustainable
Increasingly lightweight to 
contribute to reducing emissions 
and equipped with components 
developed using materials from 
renewable sources or of natural 
origin, with a lower impact at the 
end of their life cycle.
Self-driving
Continuous reinforcement of 
assisted driving from the vehicle 
interior with technological facilities 
to provide a safe, comfortable and 
pleasant driving experience.
Service
Mildly affected by the pandemic, 
the approach of seeing the vehicle 
as a service and not as property 
will come back in the coming years. 
With it, the cyber security challenge 
will also grow.
Electrified
Fundamental to the goal of 
decarbonization, the electric 
vehicle creates numerous 
challenges, including the 
architecture of the vehicle, the 
materials used, urban planning and 
its raw materials.
Customized
One user, one tailor-made vehicle. 
Design of vehicle models based on 
modular platforms that adapt to each 
customer or user’s preferences and 
with an interior that can be further 
customized.
The vehicle of the future is being designed today
Faced with this range of factors, the sector is redoubling its efforts to continue lighting up 
the vehicle of the future, promoting its electrification, connectivity, autonomy and customiza-
tion. All this without overlooking the growing trend for business models based on the use of a 
service rather than its ownership. 
ESG, a factor in profitability
The transformation of the industry toward a decar-
bonized and sustainable economy is encouraging 
the investment community to increasingly priori-
tize ESG (Environmental, Social, and Governance) 
criteria, on understanding that they lead to great-
er long-term profitability. Their importance in the 
business strategy is also growing with initiatives 
such as the new European strategy on sustainable 
finance.
Demanding regulations
Legislation, which is constantly increasing in all 
regions, is laying the foundations for the new 
mobility, which seeks to respond to the new de-
mands of stakeholders and will transform vehicles 
and their interiors. Legislation covers more than 
just the fight against climate change, since issues 
such as cyber security and transparency are also 
priorities for the sector. 
Transformation of talent management
The Fourth Industrial Revolution brings chal-
lenges such as the risk of automation of some 
jobs or the digital skills divide. Added to these 
are those derived from the pandemic: hybrid 
face-to-face work and teleworking models and 
the importance of mental health; not forgetting 
issues such as diversity and inclusive leadership.

16
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
2. Strategy: Sustainable innovation to make the difference
2.2. 
Our strategic 
approach
Grupo Antolin is focused on the development 
of advanced solutions for the new forms 
of mobility and the electric, digital 
and connected car
Sustainable innovation: 
always two steps ahead
The automotive industry has been experiencing 
a true revolution in recent years. Leading this 
transformation will involve knowing how to 
anticipate the new challenges and demands of 
the sector. This has been Grupo Antolin’s exact 
strategic focus from the beginning. Thanks to 
this, it is able to provide its customers with the 
most advanced, sustainable and innovative tech-
nologies and solutions. The goal is to consolidate 
its position as a global supplier of technological 
solutions for the interior of the car of the future.
Grupo Antolin is focused on the development of 
advanced solutions for the new forms of mobil-
ity and the electric, digital and connected car 
in order to lead the transformation of the ve-
hicle from the interior. Into these solutions are 
efficiently integrated disruptive technologies, 
lighting systems, decorative surfaces and elec-
tronics, following a strategic product approach 
known as Smart Integrator.
Faced with the current challenging environ-
ment and to shape its strategy, innovation must 
be, now more than ever, the lever with which 
to boost the company’s competitiveness and 
respond to the needs of the new mobility. With 
a medium and long-term vision, the company’s 
Innovation Department is exploring new tech-
nologies and identifying strategic fields of col-
laboration with customers, technology-based 
suppliers and research organizations. It also re-
mains especially on the lookout for innovation 
trends with the greatest scope and disruptive 
impact. 
Always looking to the medium and long-
term, during 2021, the Corporate Innovation 
Department passed over to the different Business 
Units the projects that were already sufficiently 
mature and aligned with Grupo Antolin’s busi-
ness objectives. This will allow for a faster final 
engineering stage before they can become a 
technical proposal on offer to customers. 
Each and every solution created in this de-
partment are conceived as comprehensive 
elements that bring together sustainable ma-
terials, excellent technical features, electronic 
devices and control software for their associat-
ed functions to achieve greater sustainability, 
comfort and safety on board.

17
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
2. Strategy: Sustainable innovation to make the difference
Partnerships: sharing, learning 
and growing
Grupo Antolin believes in open innovation, coop-
eration and the transfer of knowledge. For this 
reason, it has always taken a special interest in 
establishing an ecosystem of profitable partner-
ships with companies, startups, and innovation 
centers in the main markets in which it operates. 
The aim is: 
	• To generate new products and/or features, 
technologies, business models, etc.
	• To make improvements to industrial processes 
to optimize aspects of competitiveness.
	• To integrate intelligence into certain compo-
nents, making use of technologies external to 
the company’s business.
In 2021, it collaborated with various open 
innovation and entrepreneurship promotion 
platforms, both local (Polo Positivo, Burgos) and 
regional (Wolaria, initiative promoted by the 
Regional Government of Castile and Leon). On 
an international level, its integration into the 
Plug & Play community stands out, this being 
the world’s largest open platform in the field of 
mobility. 
See Good practice 
Main projects
In 2021, the technical activity associated with the programs included in the Strategic Innovation Plan 
2019-22, co-financed by the Institute for Business Competitiveness (ICE) of the Regional Government of 
Castile and Leon (Spain), was completed. 
On a technical level, the company ran innovation projects related to:
	• Design of the vehicle interior for new types of mobility.
	• Integration of advanced features in interior components.
	• New materials and processes.
In the current environment, another priority is to contribute to people’s safety and make the vehicle a 
comprehensive health protection space. As a result, Antolin is making progress in the development of 
air purification and surface sterilization systems in the vehicle interior.
Innovation work is becoming increasingly ambitious from a technical viewpoint and is not just limited 
to the fields of knowledge most directly related to the company’s current business. An example of this 
is the opening of a new line of action in 2021 related to electrochemical systems for the generation and 
use of hydrogen as a future energy option. The work performed in this field highlights the advantages of 
using carbon nanofibers, produced at Grupo Antolin’s facilities, as catalyst support in the ion exchange 
membranes that constitute the heart of both electrolytic systems that generate H2 and fuel cells for that 
gas.

18
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
2. Strategy: Sustainable innovation to make the difference
MAIN STAKEHOLDERS 
INVOLVED
Customers
Society
People
One of Grupo Antolin’s main objectives is to 
widen its open innovation ecosystem to make 
progress in technological solutions that cover 
the safety, comfort, entertainment and quality 
needs demanded of vehicle interiors today. 
In 2021, the company took another step forward 
thanks to the partnership established with the 
platform Plug and Play, one of the largest start-
up communities in the world, with its headquar-
ters in Silicon Valley and a division in Europe, 
Startup Autobahn. Thanks to this collaboration, 
disruptive thinking and the exchange of ideas, 
knowledge and technologies are being promot-
ed to face the challenges and transformation of 
the automotive industry.
SDGs IMPACTED
Good practice
Plug and Play: 
Grupo Antolin joins 
one of the largest global 
innovation communities
Innovation in processes
Innovation also plays an essential role in Grupo 
Antolin’s processes. Thanks to the new technolo-
gies of Industry 4.0 and digitalization, the corporate 
culture is more streamlined and the information ex-
change and management processes are faster and 
more efficient. All of this with a single objective: to 
improve the company’s competitiveness.
In industrial processes, innovation is used to cre-
ate a new model: the smart factory.
Flexible 
Allows the production system to adapt to 
the changing needs of customers and do this 
as quickly as possible. 
Proactive
Able to anticipate and make decisions 
in real time.
Focused on the highest quality 
Improving both the end product and 
the manufacturing process to respond to cus-
tomer requirements.
Sustainable
Guarantees energy efficiency.
Streamlined 
Speeds up the production process 
without compromising on product quality.
Among the numerous advanced manufacturing 
projects, it is worth mentioning those on smart 
energy to optimize energy consumption, as well 
as those on artificial vision and predictive quality 
to improve the end product and the efficiency of 
the process. 
 
Objectives 2022
The Innovation Department aims to keep enrich-
ing the company’s technological capacity and 
strengthen its competitive position, always with 
the goal of meeting the needs and requirements 
of the customers.
	• Study, monitoring and future vision of new 
technologies.
	• Competitive analysis of trends and techno-
logical solutions proposed by customers and 
competitors.
	• Identification of themes and strategic collabo-
rations to create lines of research in the areas 
with greater future potential. 
	• Enrichment of the innovation ecosystem.

19
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
2. Strategy: Sustainable innovation to make the difference
Relationship with 
stakeholders
Shareholders, supply chain, customers, investors, 
people, society as a whole. These are just some 
of the many stakeholders directly impacted by 
Antolin’s activity and whose needs and demands 
it in turn builds into its strategic plans and daily 
management. 
This two-way relationship is an enormous re-
sponsibility for the company, which it manages 
through adopting an approach of transparency, 
listening, trust and dialog with all of them. The 
aim is not only to incorporate their demands into 
each process, but to go one step further and in-
volve the different stakeholders in the company’s 
sustainable business model.
As a consequence of the transformation of mo-
bility, new stakeholders from markets and sectors 
from outside the automotive industry are being 
brought in and they must form part of the listen-
ing and dialog process for the construction of the 
future of mobility. 
STAKEHOLDERS (from A-Z)
COMMITMENT
CHANNELS / FREQUENCY
Customers
See 6.2 
Customers 
Always at the center, 
their objectives are those 
of Grupo Antolin.
Daily: announcements and communications, assessments, monographic survey, marketing updates.
Constant: Grupo Antolin sales network, social networks.
Occasional: audits, benchmarking, Code of Conduct, corporate website, samples, traditional and 
electronic mail, non-financial statements, press releases, awards, Tech Days, training and seminars, 
satisfaction surveys, automotive fairs.
Bimonthly: customer newsletter.
Annual: Annual report, operational contact, ratings.
Investors
See 6.1 
Investors 
Mutual trust and 
maximum transparency 
of information.
Constant: monographic meetings, investor portal (corporate website), continuous contacts.
Monthly: Non-deal roadshows, conferences.
Occasional: roadshows.
Quarterly: results reports.
Annual: Annual report, financial statements, ratings, non-financial statement.
People
See 6.3 
People 
A unique talent 
that Grupo Antolin protects, 
cares for and promotes.
Daily: Intranet, traditional and electronic mail, operational contact.
Constant: calls, monographic meetings, welcome protocol, corporate website, social networks.
Weekly: communication platform.
1-2 times/month: communications, project team, internal network, social activities.
Occasional: internal campaigns, internal InForma magazine, monographic surveys, press releases, 
satisfaction surveys, suggestion box, training and seminars, workshops, Basic Work Units (BWUs), 
internal meetings, meetings with the CEO.
Annual: annual convention, annual report, corporate presentation, monographic conventions, 
Global Meeting, Values Awards, acknowledgments.
Triennial: Workplace Climate Survey.
Shareholders
Commitment and values, 
the driver of continuity 
at this family company.
Regularly: meetings.
Biannual: General Shareholders' Meeting.
Society 
See 5.3 
Better people 
for a better future 
Contribution to 
a more prosperous, inclusive 
and fairer future.
Occasional: conferences, donations, monographic meetings, work teams, patronage and sponsorship, 
forums, press releases, presentations, social networks, visits, social activities.
Supply 
chain
See 6.4 
Supply chain 
Solid and long-lasting 
relationships, 
and a common vision 
of sustainable development.
Continuous: assessments, Code of Conduct, ratings, Buy One supplier portal.
Bimonthly: Innovative Days.
Occasional: announcements, communications, audits and inspections, calls, ordinary and 
electronic mail, training and seminars, special newsletter.
Biannual: special campaigns.
Relationship channels

20
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
2. Strategy: Sustainable innovation to make the difference
Materiality analysis 
and updating of relevant matters
In 2021, Grupo Antolin extended the analysis of 
relevant issues from the concept of double ma-
teriality, which considers the perspective from 
outside (environment) to inside (company) and 
vice-versa (from the company to the environ-
ment). In this way, the impact of environmental, 
social and governance (ESG) issues on the value 
of the business is studied, as is the impact of the 
business on its surroundings and the environment 
on a global scale. This approach is also aligned 
with the organization’s new strategy and with the 
objectives set for the Planet, People and Business 
areas for value creation. 
The results were obtained from an internal and 
external analysis, completed with 10 internal 
corporate, business and geographic interviews. 
See methodology in the Appendix 
 
The environment in which the company operates 
and the groups with whom it interacts are con-
stantly changing and evolving. For this reason, 
Grupo Antolin performs a materiality assessment 
each year, which helps to ensure that the strate-
gy focuses on the correct aspects and allows the 
company to identify, understand, prioritize and 
redirect the most relevant aspects for generating 
value in the business and in the environment in 
which it operates.
The annual review is based on the materiality 
study developed in 2017, which identified 14 
material issues from an assessment of social and 
economic trends, the demands of stakeholders, 
the company’s risks and opportunities, as well 
as the best practices in the industry. These issues 
were then ordered according to the importance 
placed on them by the stakeholders and the 
company, both now and in the future. 
As a result of this analysis and the projects 
derived from it and developed by different ar-
eas of the company, Grupo Antolin has been 
able to direct its efforts towards those issues 
considered a priority both by the main stake-
holders and by the company itself.
Social contribution
CURRENT IMPORTANCE
Priority
Anticipation
Attention
FUTURE IMPORTANCE
Diversity
Economic efficiency
Environmental impact of products
Professional development
Attraction and retention of talent
Ethics and Compliance
Occupational health and safety
New materials and technologies
Innovation in processes
Protection of Human Rights in the supply chain
Reduced use of natural resources
Security of information
Adaptation to the customer's needs
1
1
2
2
3
3
4
4
5
5
6
6
7
7
8
8
9
9
10
10
11
11
12
12
13
13
14
14
PLANET
PEOPLE
BUSINESS
	❯
Responsible use of materials 
and components
	❯
Energy management 
and efficiency
	❯
Sustainable innovation
	❯
Employment practices
	❯
Attraction, development, 
and training
	❯
Health and safety
	❯
Commitment, diversity, 
and inclusion
	❯
Business model and 
ability to adapt
	❯
Security of information 
and cyber security
The result was a list of the most relevant global issues, which in this report are explained from the viewpoint of the 
approach and management, grouped into the following blocks.

21
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
2. Strategy: Sustainable innovation to make the difference
 
 
PLANET
 
See chapter 5 
 
PEOPLE
 
See chapter 6 
 
 
BUSINESS
 
See chapter 4 
Commitments
Sustainable economic growth using natural resources 
in a rational and responsible way, as well as 
preserving, maintaining and protecting the natural 
environment and living beings.
Commitment to the unique talent in Grupo Antolin as a source of value 
generation for the company and society as a whole. 
Conscious leadership based on deeply rooted values, a 
solid governance model and strict ethical and compliance 
standards.
Objectives
Carbon neutral company by 2050
•	Neutral in CO2 emissions in its own operations 
by 2040.
•	-30% CO2 emissions by 2028.
A circular business
•	Eco-design of products and solutions.
•	Life Cycle Analysis of its main products.
•	-10% in non-hazardous waste by 2028.
Diversity, equity and inclusion, applied to talent
•	Diversity and Inclusion focused on knowledge, values, skills 
and experiences.
•	Specific plans in the tangible dimensions of diversity: gender, 
disability, age, race, culture and professional profile.
•	Increased promotion of women to managerial levels.
Zero accidents: a safe and healthy working environment
•	<2.30 reduction in the global frequency index.
•	Reinforcing the commitment to the culture of health and safety.
Committed to a sustainable future
•	Promoting initiatives for the economic development of society.
A leader in ethics, integrity and compliance
•	0 confirmed ESG complaints. 
•	100% of people trained in the Code of Ethics.
A responsible supply chain
•	100% adherence to the Supplier Code of Conduct.
•	100% of direct material suppliers assessed in ESG*.
*Environmental, Social and Corporate Governance
Our commitment: Planet, People, Business
The commitment to sustainable development has been a constant since the founding of Grupo Antolin. It 
forms part of the culture of everyone who makes up the company and is rooted in each of its processes. 
Grupo Antolin responsibly assumes the challenges corresponding to it, firstly as a company, but also individ-
ually, by each of the people who form it. 
Under this premise, the company has focused its efforts on developing a responsible business model 
that brings together business and purpose and that can create a strategic framework with specific 
objectives and tangible areas of action. This model is based on three main areas of increased value for 
the company that allows the global challenges posed by the environment to be turned into business 
solutions: Planet, People and Business. 
To make progress with them, Grupo Antolin has set some new objectives in Environmental, Social and 
Governance (ESG) aspects, as well as actions to achieve them, which are part of the company’s strategy 
to be a leading player in the new mobility.

22
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
2. Strategy: Sustainable innovation to make the difference
Strategic area
Purpose
Scope of action
1
SUSTAINABLE 
CULTURE
Strengthen and consolidate a culture 
of sustainability, in keeping with Antolin’s Values 
and Vision, in every aspect of the business and 
in all regions where the company operates.
•	 Awareness and training.
•	 Value-based management.
•	 Integration and promotion of sustainability 
in the day-to-day.
2
ENVIRONMENTAL 
COMMITMENT
Be a benchmark due to the respect we show 
to our environment and for our contribution to 
the fight against climate change and the transition 
towards a low-carbon economy when carrying out 
our activity.
•	 Strategy and promotion for 
the circular economy.
•	 Fight against climate change.
•	 Reduction of emissions.
•	 Partnerships to promote sustainability.
3
GOOD 
GOVERNANCE 
AND COMPLIANCE
Adopt the most advanced good governance 
practices and standards.
Integrate and encourage responsible management 
to generate a culture of transparency, ethics 
and compliance that ensures the interests of all 
stakeholders.
•	 Corporate Governance structure.
•	 Training in ethics, integrity and 
compliance.
•	 Analysis and management of risks.
•	 Anti-corruption.
4
HUMAN RIGHTS 
IN THE SUPPLY 
CHAIN
Ensure a commitment to respecting Human Rights 
throughout our entire value chain.
Extend the values of Grupo Antolin, 
our commitment to the environment and 
ethical behavior, to our supply chain.
•	 Sustainable management of suppliers.
•	 Awareness of CSR in the supply chain.
•	 Protection of Human Rights.
5
COMMITTED 
TEAM
Consolidate the corporate identity of Grupo 
Antolin on a global level, through a project where 
employees feel valued, adopt the company’s 
commitments as their own and feel involved 
in the goals.
•	 Attract and retain the best talent – 
technical and human.
•	 Listen and talk to employees.
•	 Commitment to different and diverse talent.
•	 Promotion of a safe and healthy 
work culture.
6
SHARED VALUE
Be the driver of social and economic development 
in the areas close to our activity, through the 
creation of shared value.
Respond to the main concerns of the community.
Maximize our positive impact.
•	 Strategic social contribution.
•	 Contribution Model: Donations, Financial 
Support and Sponsorship.
•	 Measurement of the impact of the social 
contribution.
•	 Partnerships and relationships with 
the third sector, both locally and globally.
7
SUSTAINABLE 
POSITIONING
Strengthen the recognition of Grupo Antolin for 
its sustainable performance.
Promote the brand and awareness of 
the company linked to its commitment to 
corporate responsibility and sustainability.
•	 Reinforce the non-financial information 
reporting system.
•	 Sustainable financing strategy.
•	 System of relationships with stakeholders. 
Sustainable discourse.
•	 External representation.
1
SUSTAINABLE 
CULTURE
ENVIRONMENTAL 
COMMITMENT
2
3
4
5
6
GOOD GOVERNANCE 
AND COMPLIANCE
SHARED 
VALUE
HUMAN RIGHTS 
IN THE SUPPLY CHAIN
COMMITTED 
TEAM
7
 
S
U
S
T
A
IN
A
B
L
E 
P
O
SI
T
I
O
N
I
N
G
Grupo Antolin contributes indirectly to goals one, two, six and seven; 
and contributes directly to the remaining 13 SDGs
Compliance with the ESG objectives is channeled through the Sustainability Master 
Plan, which is the backbone of sustainability throughout the company’s entire value 
chain. 
Its strategic working lines are directly and indirectly linked to the areas included in the 
2030 Agenda, with the commitment to transform the Sustainable Development Goals 
into specific measures and actions.

23
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
2. Strategy: Sustainable innovation to make the difference
2.3. 
Towards the future
The future is not written and belongs to those who know how to anticipate it. This is 
Grupo Antolin’s belief and it works tirelessly on this basis every day. 
The company’s strategy is the cornerstone for contributing to a transformation hori-
zon that will change the mobility sector forever. 
In writing the future, there is a decisive turning point: 2030. The so-called “decade of 
action” will culminate with an analysis of compliance with the 2030 Agenda and the 
Sustainable Development Goals. From that moment, several unanswered questions 
will arise: what will the world look like after 2030? And in 2050? What adjectives will 
we use to describe mobility within 20 years?
There is broad consensus among experts and authoritative voices about certain 
macro-trends. This includes the World Business Council for Sustainable Development 
(WBCSD) which outlines in its document, Vision 2050: Time to transform, nine trans-
formation pathways that cover areas of business activity essential for society: energy; 
transportation and mobility; living spaces; products and materials; financial products 
and services; connectivity; health and wellbeing; water and sanitation; and food.
Vehicle(s) 
of the future
More shared vehicles and increasingly affordable 
and competitive electric mobility. This is the outlook 
that is envisaged for the middle of the 21st century. 
Internal combustion vehicles will not disappear, but 
they will doubtlessly become more efficient and 
their emissions less polluting.
Man and machine:  
peaceful coexistence
Artificial Intelligence will replace many of the jobs 
we know today. However, people will continue 
to be responsible for all the activities involving 
communication skills, empathy, creativity and 
adaptation. And this, in turn, will create new 
opportunities.
Demographic explosion and 
a new geopolitical chessboard
The Earth will have 9.7 billion inhabitants by 2050. 
Along the way, by 2027 India will have overtaken 
China as the most country with the highest 
population. Moreover, Europe will see reductions of 
up to 10% in 26 countries, and Sub-Saharan Africa 
will have doubled its population by 2050.
The technological revolutions 
to come
Technology will play a role in all aspects of a 
person’s life. Just as the boundaries between online 
and offline life will blur (the metaverses are already 
heralding this trend), so will those that separate 
work and leisure technologies. 
Strategy of 
GRUPO ANTOLIN 
to lead the 
industry’s transformation
GROWTH
GREATER VALUE 
DIGITALIZATION
SUSTAINABILITY
Strengthening of
•	 Increased market share in China
•	 Local allies that provide knowledge 
and technological development
•	 Incorporating electronics, smart 
surfaces and lighting
•	 Making progress with HMI (Human 
Machine Interface) solutions
•	 Transformation of management 
processes and exchange of information
•	 New smart factory
•	 Digital corporate culture
•	 Responding to the expectations 
and requirements of its stakeholders
•	 In the products development 
and in processes
•	 Creating an ecosystem 
of technology companies
Products with 
for the customers 
in strategic territories
of processes
INNOVATION
throughout the value chain
•	 Responsibility to the environment, 
people and sustainable development

03
Solutions for 
the vehicle of the future
When everything is constantly changing, it is equally 
important to keep moving and to know how to advance 
from solid foundations. Grupo Antolin’s business model 
combines its experience of over 70 years with 
the continuous search for innovation, excellence and quality 
in everything it does. Finding new approaches to meeting 
mobility challenges would never be possible 
without highly qualified, committed, and diverse talent.
Business model

25
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
3. Business model: Solutions for the vehicle of the future
The creation of value is one of Grupo Antolin’s raisons d'être. The company invests all the resources available to it –economic, material, intellectual, 
human, social and environmental– to generate, through its activity, a positive impact on its environment and its stakeholders. 
3.1. 
Integrated 
business model
Financial 
145 factories in 26 countries
Manufactured
Investment of €217.1M
Intellectual
48% of the workforce in Spain is linked to 
technology areas
Workforce with an average length 
of service of 7 years
37.83 training hours per person
Human
25,000 professionals 
97.77 % with permanent contracts
40 is the average age
Social
Social contribution per employee 
of €34.19
5,697 hours of training in Human Rights
Environmental
Energy consumption (GWh): 133.65
Consumption of raw materials (T): 101,705
113 people dedicated to the environment
Financial
€1,000M in volume of purchases from local suppliers
Assessed by 2 rating agencies
Manufactured
580+ car models on the market equipped
More than 100 new vehicles equipped in 2021
Intellectual
€123.48M in proyects
61 innovations patented over 5 years
203 Key Pieces of Knowledge
Human
€828.52M in staff costs
60% of employees covered by certificates of excellence 
in occupational health and safety management
Social
€13.84M Corporate Tax*
Environmental
Avoided the emission of 2,718 tons of CO2
Capital invested
Impact generated
1. CONCEPTION
2. DEVELOPMENT
⮡DESIGN
4. MANUFACTURING
3. VALIDATION
5. DELIVERY
Grupo Antolin’s vision and values
Investors
Supply chain
Customers
People
Society
Society
Society
In
te
rn
al 
co
ntr
ol 
sy
st
em
Su
st
ai
na
bl
e i
nn
ov
at
io
n
ES
G 
go
al
s: 
Pl
an
et
, p
eo
pl
e, 
bu
si
ne
ss
CO
RP
OR
AT
E 
GO
VE
RN
A
NC
E 
M
O
DE
L
In
te
gr
at
e
d 
b
us
in
es
s 
m
o
d
el
External context
Sustainable, connected 
and safe mobility
Ecosystem with new players
Industry 4.0S
Legislation
Technological 
advances
Customers
*Income taxes paid (unearned).

26
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
3. Business model: Solutions for the vehicle of the future
Grupo Antolin’s value creation process cannot 
be understood without considering the founda-
tion provided by its solid Corporate Governance, 
sustainable innovation strategy and firm com-
mitment to the ESG goals. At the core of every-
thing is an integrated business model with a 
great capacity to adapt to the challenges of the 
environment, which are changing now more than 
ever as a result of the boom in sustainable and 
connected mobility. 
Grupo Antolin is synonymous with leadership 
and with being a global benchmark in the design, 
development, manufacturing and supply of in-
teriors for vehicles. Always at the cutting-edge, 
the company offers a wide range of solutions 
that the main brands in the automotive market 
incorporate into their products. In 2021, compo-
nents developed by Grupo Antolin were present 
in more than 580 vehicle models, as well as in the 
five best-selling vehicles on the market and the 
top ten in Europe.
The largest manufacturers in the sector rely on 
the solidity provided by Grupo Antolin’s more than 
seventy years of experience, and also on its strong 
In 2021, Grupo Antolin’s components 
were in more than 580 vehicle models
commitment to evolving and remaining at the 
cutting-edge when it comes to providing quick re-
sponses to the challenges of the new mobility. To do 
this, innovation –one of the pillars of the company’s 
business model– is a strategic factor that allows it 
to integrate new smart solutions into the vehicle in-
terior that are capable of offering new experiences 
based around more sustainable and safer driving.
However, if there is one thing that really makes 
the difference at Grupo Antolin and lifts its 
business model, it is the commitment to attract 
and retain diverse and highly qualified talent. 
More than 25,000 professionals in 26 countries 
contribute their knowledge, skills, and ideas to 
achieving the objectives year after year. Aware 
of this, the company promotes the training of 
its staff, encourages their innovative spirit and 
strengthens the link with Grupo Antolin’s values; 
all this in an environment in which health, safety 
and well-being in all their aspects is guaranteed. 
Together with these elements, extensive indus-
trial experience, technological leadership, a 
strong diversification of income and a strategic 
geographical expansion focused on the custom-
er are the great pillars on which the company’s 
financial and operational success is based. 
In its eagerness to lead the technological trans-
formation taking place in the automotive sector, 
Grupo Antolin has positioned itself as an inte-
grator of complex solutions, especially in the 
areas of electronics and lighting for automotive 
interior components. In this way, in addition to 
adding value to its extensive range of products, 
the company offers its customers the highest 
performance in multi-technology solutions.

27
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
3. Business model: Solutions for the vehicle of the future
1. Conception
Innovative solution for 
the needs and expectations 
of customers and 
their consumers
 
26 technical-sales offices
€125.22M in R&D and 
innovation spend
785 technical solutions
84 active innovation lines
2,607 patents
12 technological solutions 
available to the market
1,567 people in technology-
related jobs
3. Validation
Acceptance by the customer 
and the company in charge 
of the production and 
supplier appointment
 
56 STA’s (operational level)
€1,937M in volume of purchases 
from leading suppliers 
of direct material
2,792 suppliers of direct material
€1,000M in volume of purchases 
from local suppliers
59% direct material suppliers 
assessed for ESG
4. Manufacturing
Start of mass manufacturing 
of the product to the highest quality
 
145 factories and JITs 
26 countries 
€217.1M investment
52 ISO 45001
60% of the workforce covered by ISO 45001 
Certification 
97 ISO 14001 centers
6 ISO 50001 centers
105 ISO TS16749
3.57 Accident frequency rate
5. Delivery
Sequenced supply 
of the customer’s final product
 
€4,055.35M in sales
More than 580 vehicle models
More than 80 vehicle brands
49.1% sales in Europe
32.9 % sales in NAFTA
38.5% of sales in doors
37.5% overheads unit sales
16.6% of sales in instrument panels
7.2% of sales in lighting
1
2
3
4
5
WHAT WE DO 
AND HOW WE DO IT
2. Development
⮡Design
Definition of the product 
and service according to 
the customer’s requirements
 
3,229,115 hours of development
44 design and simulation centers
346 projects in the development phase

28
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
3. Business model: Solutions for the vehicle of the future
Grupo Antolin in the 
new mobility ecosystem
The automotive sector is experiencing a produc-
tion and business paradigm shift that is radically 
transforming its traditional value chain. In recent 
years, we have transitioned from a linear format 
to a model in which multiple agents connect 
and overlap in relation to the different uses of 
the vehicle and its entire life cycle. It is an entire 
flexible and interconnected ecosystem based on 
the integration of processes, devices, applications 
and people. 
In this new ecosystem, the collaboration and 
interconnection between different value chains 
is fundamental: from vehicle manufacturers to 
operators that guarantee connectivity, technol-
ogy companies, electricity companies, financial 
institutions, regulatory authorities and traffic 
managers, internet providers, fleet managers, 
data aggregators and infrastructure managers, 
among many others. 
 Vehicles are no longer just a means of transport 
to move from one point to another: they are 
now the reflection of increasingly demanding 
consumers who want tailor-made, comfortable, 
sustainable, safe mobility and who demand 
transparency, flexibility and immediacy from 
manufacturers. We have switched from journeys 
to experiences. 
Another broad trend that has resurfaced 
post-pandemic is that, instead of buying their 
own vehicle, the consumer is opting for car shar-
ing: a new mobility solution that is less expen-
sive and more adapted to the real consumption 
needs in large cities. This new reality requires 
comfortable and safe interiors that are also es-
pecially robust given their continuous use. The 
car sharing phenomenon has strengthened the 
vision of the vehicle as a service –and not just as 
property– in the market. 
Companies like Grupo Antolin are ready to 
connect, interact, cooperate and learn together 
with new partners, creating cross-cutting value 
chains in which industrial, technological and 
service companies form a part. All of them must 
undergo a profound period of transformation in 
which they will no longer only have to focus their 
models on production and sales, but also direct 
them towards the different uses and life cycles of 
the vehicle.
Grupo Antolin is ready to cooperate 
with new partners and 
create new cross-cutting value chains

29
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
3. Business model: Solutions for the vehicle of the future
China
25.3 million
North America
17.6 million
Europe
16.7 million
India
3.4 million
Brazil
1.9 million
Russia
1.7 million
Spain
0.9 million
Source: LMC Automotive (includes cars and light commercial vehicles)
3.2. 
Global 
automotive market
Volatility and uncertainty were two of the main 
words used to describe the market in 2021. The 
shortage of semiconductors and the successive 
variants of COVID-19 affected the rate of recovery 
and prevented the market from returning to the 
figures seen prior to the pandemic. Throughout 
the year there was a strong mismatch between 
production capacity, reduced by supply problems, 
and vehicle demand, which shot up again, show-
ing that the car continues to be a key product for 
people’s mobility. 
As a result of the resilience of the sector and its 
spirit of adaptation, vehicle manufacturers di-
rected their strategies towards the production of 
more profitable models and the commitment to 
electric vehicles, which has accelerated.
Finally, 2021 finished with over 81 million units sold, a 4% increase compared to 2020 but still a 
long way from the figures recorded before the crisis.
In terms of the podium for best-selling vehicles, the Toyota Corolla remains at the top, followed by the 
Toyota RAV4 and the Ford F Series. In the European market, the leading position belongs to the Renault 
Clio, after overtaking the previous number one, the Volkswagen Golf. Moreover, the most popular vehi-
cle in Spain was the small SUV SEAT Arona.
SALES IN 2021  
81.1 million vehicles 
worldwide

30
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
3. Business model: Solutions for the vehicle of the future
3
Ford F-Series 
Modular headliner, lighting console 
1
Toyota Corolla 
License plate lamp (China), headliner substrate 
(Europe and South America), sunvisors (Europe 
and South America), lighting console, door 
panels, center console, ambient lighting and 
multipurpose lamp (Europe), package tray 
(South America)
Grupo Antolin in the Top 10 in global sales
2
Toyota RAV4 
Lighting console (Russia)
4
Honda CR-V 
Modular headliner (Thailand), headliner 
substrate (India), lighting console
10
Tesla Model 3 
Modular headliner (China)
6
Chevrolet Silverado
5
Toyota Camry 
Headliner substrate (Europe)
7
Ram Pick-Up 
Modular headliner, lighting console, 
door panels
8
Honda Civic 
Headliner substrate, side repeater, 
multipurpose lamp, pillar trim (South 
America), package tray (South America)
9
VW Tiguan 
Modular headliner, door panels (North 
America)
Source: focus2move. The components produced by Grupo Antolin are listed. The specific market for which the component is produced is in brackets. Unless indicated otherwise in brackets, the component is manufactured worldwide.

31
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
3. Business model: Solutions for the vehicle of the future
3
Dacia Sandero 
Headliner substrate, window regulators, 
lighting console 
1
VW Golf 
Headliner logistic services, ambient lighting
2
Peugeot 208 
Headliner substrate, sunvisors, window 
regulators (plastic), ambient lighting, license 
plate lamp, central high mounted stop lamp
4
Renault Clio 
Window regulators (plastic), door electronics, 
sunvisors, day running lamp, lighting console, 
bumper reinforcement
10
Citroën C3 
Window regulators, sunvisors, lighting 
consoles, central high mounted stop lamp, 
plastic parts for the door panel
5
Peugeot 2008 
Sunvisors, window regulators (plastic), lighting 
console, ambient lighting
7
Toyota Yaris 
Sunvisors, lighting console, reading light, 
headliner substrate (emerging markets)
6
VW T-Roc 
Modular headliner, window regulators, 
lighting consoles
8
Opel Corsa 
Window regulators (plastic), sunvisors, 
lighting console
9
Fiat 500 
Modular headliner, lighting console, 
glovebox lamp
Grupo Antolin in the Top 10 in European sales
Source: JATO. The components produced by Grupo Antolin are listed. The specific market for which the component is produced is in brackets. Unless indicated otherwise in brackets, the component is manufactured worldwide.

32
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
3. Business model: Solutions for the vehicle of the future
10
Jeep Grand Cherokee 
Reading lights, multipurpose lamp, 
illuminated decorative part (speaker), 
infrared camera module (headliner)
7
Nissan Rogue 
Lighting console
8
Toyota Highlander
License plate lamp
9
Honda Civic 
Headliner substrate, side repeater, 
multipurpose lamp, pillar trim (South 
America), package tray (South America)
Grupo Antolin in the Top 10 in US sales
Source: focus2move. The components produced by Grupo Antolin are listed. The specific market for which the component is produced is in brackets. Unless indicated otherwise in brackets, the component is manufactured worldwide.
3
Chevrolet Silverado
1
Ford F-Series 
Modular headliner, lighting console 
2
Ram Pick-Up 
Modular headliner, lighting console, door 
panels
4
Toyota RAV4 
Lighting console (Russia)
5
Honda CR-V 
Lighting console, modular headliner 
(Thailand), headliner substrate (India).
6
Toyota Camry 
Headliner substrate (Europe)

33
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
3. Business model: Solutions for the vehicle of the future
Grupo Antolin in the Top 10 in Chinese sales
Source: Gasgoo. The components produced by Grupo Antolin are listed. The specific market for which the component is produced is in brackets. Unless indicated otherwise in brackets, the component is manufactured worldwide.
3
VW Lavida
4
Haval H6
2
Wuling Hongguang Mini EV
6
Changan CS75
9
Wuling Hongguang
10
VW Bora
1
Nissan Bluebird/Sylphy 
Lighting console, sunvisors
5
Toyota Corolla 
License plate lamp, headliner substrate, 
and sunvisors (Europe and South America); 
lighting console (Europe), door panels, 
center console, ambient lighting and 
multipurpose lamp (Europe), package tray 
(South America)
7
Tesla Model 3 
Modular headliner
8
Buick Excelle GT 
License plate lamp

34
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
3. Business model: Solutions for the vehicle of the future
3.3. 
Business development
In a challenging situation marked by the side effects of the pandemic on the economy and global 
supply chains, Grupo Antolin’s business model once again demonstrated its strength, flexibility, 
and resilience. The halting of the full recovery of global vehicle production due to the shortage of 
semiconductors and the rising prices of raw materials, among other factors, limited the increase 
in Grupo Antolin’s sales during the financial year to 2%, at 4,055.4 million euros. 
In parallel to the management and adaptation of the business to the situation in the market, the 
company remained on course in the process of transforming its product portfolio towards inte-
grated and smart solutions for the vehicle interior. If the industry is moving rapidly towards a more 
sustainable, connected and technological future, Antolin’s activity is not far behind. Its business is 
transforming in all aspects, led by a team of first-rate professionals.
Overheads Business Unit
From its position of global leadership in the over-
heads business, the company is working on sus-
tainable and innovative solutions that allow it to 
evolve the traditional products in this area and 
therefore consolidate its positioning, offering 
differential value to the customer. Antolin wants 
to meet all the needs of vehicle manufacturers 
in terms of sustainability, weight reduction, cus-
tomization and improved safety and acoustics of 
the overhead system and its different elements.
In 2021, extensive innovation work was carried 
out by integrating lighting solutions into the 
overhead system that offer multiple design and 
customization options, as well as improving the 
comfort of the passenger compartment. As a key 
technological milestone, the company has devel-
oped the first car overhead system from plastic 
waste and used tires. This sustainable solution is 
already found in a new Volvo model and com-
bines sustainability with excellent properties 
in terms of quality, cost and durability, while 
achieving a significant weight reduction. This 
development is an example of the lines of work 
to support our customers’ electric strategies and 
opens the door to future projects that will con-
solidate Antolin’s sustainable leadership in this 
market segment. 
The Business Unit won significant orders for Ford 
and General Motors in North America; Tesla in 
China; Audi and Renault in Europe; and Hyundai 
in Brazil for both combustion vehicles and the 
new generation of electric vehicles. In total, it is 
working on around 130 projects worldwide. 
Grupo Antolin’s business is 
transforming in all its aspects, 
led by a first-rate team, to advance 
toward a more sustainable, connected 
and technological future

35
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
3. Business model: Solutions for the vehicle of the future
Cockpits and Doors 
Business Unit 
The door and cockpit are two essential elements 
in the transformation that vehicles are under-
going, both for the features and functionalities 
they offer and for the extensive technology they 
can incorporate. Aware of this significant role 
in its strategy of adding more value to prod-
ucts, Antolin’s activity in this business segment 
focuses on providing advanced products and 
solutions by combining lighting and decorative 
surfaces. 
The sustainability of cockpit and door compo-
nents is another central axis of the strategy. The 
exclusive double slush skin technology, which 
creates a cockpit trim with an unbeatable texture 
and finish at half the weight and a competitive 
cost, is already proving popular with customers 
in Europe. In doors, chemical foaming projects 
are being developed to reduce the weight of 
the part. Work is also being done from the in-
troduction of various recycled materials into the 
components.
This Business Unit’s intense sales effort allowed it 
to consolidate this activity and launch important 
cockpit programs in 2021 for Ford, General Motors 
and Skoda, as well as for Volkswagen, Jeep and 
Seat. In total, the company has 120 active projects 
in cockpits and doors.
Lighting & HMI 
Business Unit
The Lighting & HMI Business Unit is developing 
over one hundred projects for both its traditional 
interior and exterior lighting products and for the 
new HMI (Human Machine Interface) solutions 
with decorative surfaces and greater electronic 
content, which open up new possibilities for pas-
senger interaction with the vehicle. Grupo Antolin 
is capable of fully meeting the demand for smart 
advanced surfaces with a perfect integration of 
functions thanks to the close collaboration of 
this Business Unit with the Electronic Systems 
team and the support of strategic partners such 
as Walter Pack and AED.
The HMI and Decorative team continued to define 
and develop new products, performing sales and 
promotional activities with customers to demon-
strate the company’s new capabilities. All this 
work bore fruit with the awarding of the first Touch 
Control Unit project, which integrates a sophisti-
cated decorative design, ambient lighting, capaci-
tive switches and electronics into a single part. This 
project will be entirely produced and developed in 
Asia for a customer in this market. 
It is also worth highlighting several lighting proj-
ects in North America with Honda, Stellantis, 
Nissan and Ford, which consolidate this business 
in a key market for the company, as well as a con-
tract with the Chinese company Human Horizons 
that includes a high content of decoration, 
electronics, and lighting. 
In terms of launches, the first product with 
ISELED technology was carried out for a BMW 
doors project, being an example of Grupo 
Antolin’s technological capacity to develop a 
complete smart lighting system.

36
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
3. Business model: Solutions for the vehicle of the future
Electronic Systems 
Business Unit
In its second year of activity, the Electronic 
Systems Business Unit has established a first-rate 
multinational and multidisciplinary team, im-
proving its technical capabilities and concluding 
the definition of its product portfolio. Electronic 
Systems is a key part of the strategy to develop 
new solutions with greater value for the custom-
er in close collaboration with other units of the 
company.
Thanks to this commitment to offer customers 
more advanced solutions, it managed to win 
the contract to supply a new generation of the 
Door Control Unit (DCU) for the new electric 
SUV from the Geely-Volvo group. This project is 
on a global scale given that it involves the sup-
port of its partner AED Engineering in Europe, 
in the electronic engineering part during 
the development phase, and in addition the 
industrialization will be led by the new partner-
ship sealed in China with Shanghai NAEN Auto 
Technology. 
Thanks to NAEN, Grupo Antolin is strengthening 
its commitment to the Chinese market, a key el-
ement in the company’s strategic development, 
and provides the best technologies with high add-
ed value to all its customers. Remaining in China, 
other DCU and overhead control systems program 
contracts were won, allowing it to consolidate its 
position in this market segment. 
This Business Unit also collaborated with the 
company’s other departments on an import-
ant electronic development for a Volkswagen 
lighting project in an example of cross-cutting 
teamwork.
In the past year, the Electronic Systems Business 
Unit expanded its technical knowledge in order to 
enrich its portfolio of electronic products, such as 
Car Entry Systems based on a variety of technolo-
gies for the development of digital keys, as well as 
smart driver monitoring systems (DMS) and occu-
pant monitoring systems (OMS). To do this, it joined 
the multi-sectoral organization Car Connectivity 
Consortium (CCC), which is key to accessing and 
participating in the definition of global standards 
and the advanced technologies for connectivity 
between the smartphone and the vehicle.
MAIN STAKEHOLDERS 
INVOLVED
Customers
Investors
As part of its strategic commitment to the Chinese 
automotive market –in which it has been present 
for 20 years–, Grupo Antolin participated in the 
Shanghai Auto Show for the first time in 2021. 
The company presented its disruptive technolo-
gies in three strategic areas: cockpits, electronics, 
and lighting & HMI (Human Machine Interface).
Specifically, it exhibited its smart cockpit, called 
INSPIRE, for the first time, which dazzled with 
its dynamic lighting to create different driving 
scenarios, backlit surfaces in unique materials, 
screen decoration module, stitched light guides, 
smart decorations, natural active surfaces, light 
projections and driver monitoring system.
SDGs IMPACTED
Good practice
Antolin's Technology at the Shanghai Auto Show
Strategic presence in the market with the greatest growth 
potential
Society

The value of 
doing things well04
Long before ethics, integrity and transparency 
ceased to be optional for companies, Grupo Antolin 
already saw these as essential. They reflect our way 
of understanding our place in the world and setting the pace 
in the industry, always hand in hand with our founding values 
and with the belief that responsible management is 
the only way to transform a company into a business 
creating real added value for all of society.
Conscious leadership

38
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
4. Conscious leadership: The value of doing things well
4.1. 
What moves us:
Vision and Values
PEOPLE, 
THE KEY TO SUCCESS 
	❯Recognize achievements: 
everyone contributes 
to success
	❯Build a climate of trust
	❯Be tolerant 
with mistakes
	❯Listen, communicate: 
act transparently
	❯Teamwork
CONTRIBUTION 
TO THE DEVELOPMENT 
OF SOCIETY 
	❯Be committed 
to your environment
	❯Represent the 
company’s values 
in society
INNOVATION, 
FUNDAMENTAL 
TO OUR FUTURE 
	❯Be flexible and 
open to new ideas
	❯Don’t conform, 
encourage boldness
	❯Everything can be 
questioned, look for the 
best solution
FAMILY 
SPIRIT 
	❯Act honestly
	❯Respect others
	❯Deal with issues fairly
PASSION 
FOR A JOB 
WELL DONE 
	❯Work with quality
	❯Meet your commitments
	❯Train yourself 
permanently
	❯Be involved 
from the beginning
Grupo Antolin’s commitment to society be-
gins with the promotion of an internal culture 
through which principles such as respect, in-
tegrity and ethics are strengthened. That is why 
the company is advancing in its aim to position 
itself as a benchmark in the industry due to its 
responsible management and its values, the 
same ones that have guided it since its creation 
over 70 years ago.
VISION
Our vision for the future is to be the leading com-
pany in automobile interiors, creating value for 
our stakeholders.
VALUES
Our values are the pillars that define how Grupo 
Antolin works in a globalized, competitive and 
changing environment.

39
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
4. Conscious leadership: The value of doing things well
Corporate Governance Model
Grupo Antolin’s governance and administration 
bodies are governed by a set of rules and prin-
ciples that safeguard the smooth running of the 
company.
	❯
Articles of Association
	❯
Internal Corporate Governance Rules
	❯
Vision and Values 
	❯
Code of Ethics and Conduct 
	❯
Corporate policies 
	❯
Other internal codes, processes and proce-
dures required or recommended through 
sector-related provisions
	❯
The Regulations of the Board of Directors and 
of the Delegated Committees, which were 
modified at the meeting of the highest ad-
ministrative body held on December 15, 2021
Management approach 
Ethics, integrity and transparency are the three main pillars on which 
Grupo Antolin’s Corporate Governance is based. With the responsibility 
that following these three main principles implies, the company adopts 
sustainability criteria for each and every one of its decisions to ensure 
the proper functioning of its business activity, looking forward for long-
term future and to respond the needs and expectations of its environ-
ment and stakeholders.
Grupo Antolin also monitors the trends that set the path in terms of 
governance and integrates them into its governance model, as well as 
extending the environmental, social and good governance requirements 
into the company’s strategy and the development of these criteria in the 
supply chain. 
At Antolin, the promotion of the aspects of sustainability starts with the 
Board of Directors, setting the strategic lines for the main ESG issues in 
the business and supervising and analyzing their development. In this 
task, the Board of Directors has the support and advice of the Advisory 
Board, made up of diverse profiles with extensive experience in different 
sectors, as well as in the leadership and supervision of environmental, 
social and governance issues. The Members of the Advisory Board are 
directly involved in the monitoring and management of these issues 
through the Sustainability and Corporate Governance Committee.
To deal with the continuous market challenges and the increase in the 
company’s size and complexity, Grupo Antolin has chosen to profession-
alize its governing bodies as a way to guarantee the smooth running of 
the business and better decision-making. 
4.2. 
What guides us:  
Corporate governance
At Grupo Antolin, 
the promotion of the 
aspects of sustainability 
starts with the Board of 
Directors, setting 
the strategic lines 
for the main ESG* issues 
in the business
Composition of the governing bodies
Members
Men
Women 
% Women
Spanish nationality
Board 
of Directors
5
3
2
40%
4
Advisory Board
6
3
3
50%
5
Total
11
6
5
45%
9
Independent
Average age 
Over 45 years
Average length of service 
in years
Board 
of Directors
0
56
4
14
Advisory Board
6
55
5
3
Total
6
55
9
8
Another essential part of Grupo Antolin’s gover-
nance is its management model, comprised of a 
set of policies, processes, procedures, guidelines 
and forms designed to meet the requirements of 
the international management system standards 
and internal management needs.
	❯
IATF 16949. Quality
	❯
OHSAS 18001. Occupational health and safety
	❯
ISO 45001. Occupational health and safety. 2019
	❯
ISO 14001. Environment
	❯
ISO 17025. Laboratory and Calibration
	❯
ISO 27001. Security of information
	❯
UNE 19601. Criminal Compliance
	❯
ISO 37001. Anti-bribery
	❯
ISO 50001. Energy efficiency
	❯
Other internal processes and procedures
*Environmental, Social and Corporate Governance

40
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
4. Conscious leadership: The value of doing things well
Ernesto Antolin 
Chairman
María Helena Antolin 
Vice-Chair
Miguel Ángel Vicente
Member
Alberto Guerra
Vice-secretary
Emma Antolin
Member
Pablo Ruíz
Non-Board Member Secretary
Jesús Pascual
Member
Members of the Board of Directors
The General Shareholders’ Meeting and the 
Board of Directors are the backbone of Grupo 
Antolin’s governance model. 
General Shareholders’ Meeting
All its members belong to the Antolin family and 
all the shareholders are represented in it. It is there-
fore the company’s highest decision-making body 
in which all its members share the same values. It 
met three times in 2021.
Board of Directors
This body is responsible for the governance, 
management, administration, strategic decision 
making and monitoring of the company’s most 
important issues. The Board is made up of five 
members, two of whom are women, who are 
elected by the General Shareholders’ Meeting 
for a renewable six-year period. Daily manage-
ment is entrusted to the Chief Executive Officer 
and Management Committee. Ten meetings 
were held in 2021.
During the last year, Grupo Antolin contin-
ued making progress in aligning the Board of 
Directors with the best corporate governance 
practices, as well as working to comply with the 
new regulations and the implementation of the 
company’s corporate strategy. In 2021, Miguel 
Ángel Vicente García was appointed as an 
external director, replacing Ana Berta Antolin 
Arribas, as representative of one of the Board’s 
member companies. 
Governance of the organization

41
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
4. Conscious leadership: The value of doing things well
Committees
Although all the committees retained their Chairmen in 2021, significant changes occurred in their composition with the approval of the Board 
of Directors meeting held on December 15, 2021. These changes will take effect in 2022. In this regard, the plan is to rotate the Chair and change 
the composition, duties and number of members in the different existing committees.
This is chaired by an independent advisory director and it is responsible of: supervis-
ing internal control, risk management, internal financial reporting management system 
(FRMS) and external audit. It also works with the Sustainability and Corporate Governance 
Committee to analyze the management of conflicts of interest and prepare the formula-
tion of the annual accounts and the Statement of Non-Financial Information (SNFI).
AUDIT 
COMMITTEE 
4 MEMBERS
1 WOMAN
2 INDEPENDENT ADVISORY DIRECTORS
7 MEETINGS
SUSTAINABILITY AND 
CORPORATE GOVERNANCE 
COMMITTEE 
Chaired by an independent advisory director, its name was changed at a meeting of the 
Board of Directors held on July 22, 2021. It has powers to monitor compliance with the 
Corporate Governance rules, internal codes of ethics, compliance programs, environmental 
policies and corporate responsibility. It also supervises the Annual Corporate Governance 
Report and the preparing of the SNFI, in coordination with the Audit Committee. 
4 MEMBERS
2 WOMEN
2 INDEPENDENT ADVISORY DIRECTORS
7 MEETINGS
APPOINTMENTS 
AND REMUNERATION 
COMMITTEE (ARC) 
5 MEMBERS
2 WOMEN
2 INDEPENDENT ADVISORY DIRECTORS
7 MEETINGS
It deals with evaluating the remuneration policies of the company and has responsibility 
for nominating candidates for the Advisory Board and the Board of Directors; as well as, 
for analyzing candidates for senior management roles. Like the two previous committees, 
it is also chaired by an independent advisory director.
Advisory Board
It is a consulting body that offers advice on all those decisions 
corresponding to its area of responsibility, as established in the 
Board regulations.
Operating as a joint committee, it is made up of six independent 
advisory directors, three men and three women, who sit on dif-
ferent Delegated Committees. All of them have had outstanding 
careers in their respective areas and experience in leading compa-
nies and organizations. They also come from different profession-
al backgrounds, which undoubtedly enriches their contribution as 
advisers to Grupo Antolin. 
Under the operation of an extended Board of Directors, the mem-
bers of the Board of Directors and the independent directors 
(without voting rights) actively and simultaneously participate in 
the Board of Directors meetings. The advisory directors also meet 
independently from the Board of Directors, in order to propose sug-
gestions and recommendations. 
The composition of the Advisory Board will be affected in 2022 by 
the departure of an independent advisory director, as it was agreed 
in December, moving to a system of five advisory directors instead 
of the six it had in 2021.

42
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
4. Conscious leadership: The value of doing things well
Founder and Chief Executive Officer of Cabify
He has a degree in Telecommunications 
Engineering from the Polytechnic University of 
Madrid and an MBA from Stanford University. 
He is the founder of Cabify, the first Spanish uni-
corn, one of the most successful and recognized 
Spanish startups. With a clear focus on innova-
tion and sustainability in the world of mobility 
and a competitive pricing policy, he has man-
aged to differentiate and position the company 
in the market. He has worked as a consultant 
at Boston Consulting Group and was Marketing 
and Business Development Director at Zero 
Motorcycles.
Director at Siemens Gamesa Renewable 
Energy, Business Expert at Palfinger AG
She has a Senior Industrial Engineering degree 
from the School of Industrial Engineering of 
Barcelona (ETSEIB), a Masters in Automotion 
from the Polytechnic University of Catalonia 
(UPC) and Global Management Program (GMP) 
from INSEAD Business School. She started her 
professional career at SEAT and Nissan, where 
she held various positions in Spain and Europe. 
She then joined CNH (Fiat Group), with respon-
sibility in the United States, Europe and Asia. 
She was Chief Quality Officer at IVECO until 
2019 and has been a director at IVECO España 
and a member of the IESE I-WILL Advisory 
Board.
Independent Director at Velatia and member 
of the Board of Directors of Lantero Group, 
Levantina y Asociados de Minerales and ABE 
Capital Partners 
He has a degree in Industrial Engineering 
from the University of Portsmouth an MBA 
from the University of Rutgers. He started his 
professional career at Ercross España and then 
joined the ThyssenKrupp Group where he held 
various positions, including Chief Executive 
Officer for southern Europe, Africa and the 
Middle East. He has been an advisory director 
at Nexxus Ibérica and was a member of the 
Board of Directors and the Appointments and 
Remuneration Committee of Abengoa until 
November 2020. Currently he is Independent 
Director and Chairman of the Appointments 
and Remuneration Committe at Velatia and 
member of the Board of Directors of Lantero 
Group, Levantina y Asociados de Minerales and 
ABE Capital Partners.
Former Director of Human Resources and 
Labor Relations at BMW
She has a degree in Business Administration 
from VWA in Hagen and was the first woman on 
BMW’s board as Director of Human Resources 
and Labor Relations. Her professional career has 
been focused on the area of people manage-
ment and social relations, performing her duties 
for the railway group Deutsche Bahn AG-DB 
Mobility Logistics, Schenker AG, in the logistics 
sector, and Vossloh AG.
Independent Director of Red Eléctrica 
Corporación and Grupo Mutua Madrileña. 
Proprietary Director of Hispasat
She has a degree in Economic and Business 
Sciences from Comillas Pontifical University 
(ICADE) and a Masters in Business Management 
IESE (Executive MBA) from the University of 
Navarre and has worked for 30 years in the 
energy sector with responsibilities in different 
business groups such as Enagás, Repsol and 
BP Oil España. She has been Director of Oil 
Markets in the National Energy Commission, 
as well as Managing Director of the Strategic 
Reserves Corporation. She has also been the 
representative of the Spanish Delegation in the 
Emergency Questions Group and the Markets 
Group of the International Energy Agency (IEA). 
Independent Director of Ezentis Group until 
2021, she is currently the Coordinating Director 
and President of the Sustainability Committee at 
Red Eléctrica, President of the ARC at Hispasat, 
as well as President of the Audit Committee at 
Grupo Mutua Madrileña.
Director of the Chair of Connected Industry 4.0 
at Comillas Pontifical University ICAI-ICADE
He has a Senior Industrial Engineering de-
gree 
from 
Comillas 
Pontifical 
University 
ICAI, is a Graduate in an Advanced Business 
Management Program (PADE) from IESE 
Business School, and is qualified in Good 
Corporate 
Governance 
through 
Instituto 
de Consejeros Administradores (Institute of 
Directors and Administrators). Merit Member 
of the Association and College of Engineers of 
ICAI and Honorary Member of the Industry 4.0 
Observatory. Previously, he was the President of 
Lucent Technologies, Independent Director and 
President of the Audit Committee at Laniver, 
and Independent Director and Chairman of the 
Appointments and Remuneration Committee 
of Telvent GIT, a NASDAQ listed company.
Members of the Advisory Board (from A-Z)
Juan de Antonio
Milagros Caiña
Macarena Cassinello
Carmen Gómez 
de Barreda
Ramón Sotomayor
Bernardo José 
Villazán

43
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
4. Conscious leadership: The value of doing things well
Amendment of the Regulations of the Board 
of Directors and of the Delegated Committees. 
Process to review and update the Regulations to 
adapt them to the latest legal changes regarding 
the reporting of non-financial information, as well 
as in relation to internal procedures regarding 
conflicts of interest. Adaptation of the Regulations 
to the composition and structural changes in the 
Delegated Committees.
Progress in the partial reelection of the Advisory 
Board. Approval of the departure of one of the 
independent advisory directors with effect from 
January 1, 2022 and extension of the term of of-
fice for the Chairmen of the Board’s Delegated 
Committees, moving from an annual term to 
biennial terms.
Self-assessment following the good governance 
of listed companies standards of the operation 
of the Board of Directors and the Delegated 
Committees of the Board, according to biennial 
planning and under the guidance of the indepen-
dent advisor who chairs the Appointments and 
Remuneration Committee. 
Review, assessment and updating of the finan-
cial and non-financial risk map. Among these, 
the catalog has been updated in coordination 
with Grupo Antolin’s Audit Committee and Risk 
Committee.
Updating the organization model and risk cata-
log in matters of criminal compliance, extending 
it to all companies in Spain, increasing the num-
ber of controls tested by 41.6%.
Through the digitalization of the reporting of 
required information and the automation proj-
ect, the Non-Financial Reporting Management 
System (NFRMS), relating to the main indicators 
in environmental, social (human resources and 
health and safety), ethics and compliance mat-
ters has been implemented.
Development 
and 
implementation 
of 
the 
Communication and Marketing Plan 2020-2021.
Launch of the Next Generation Plan.
Recognition of the Sustainability Department. 
Alignment of the new department’s structure and 
objectives with the company’s Strategic Plan. 
Stakeholder Materiality: project for customers. 
Grupo Antolin’s positioning in the One Client 
project.
Main progress in 2021
Strategic plan. New sustainability strategic line with 
the definition of specific objectives and milestones 
in environmental, social and corporate governance 
matters, under the triple perspective of value con-
tribution: Planet, People and Business.
Climate change and circular economy. Review of 
the strategic lines of action planned for 2021-2022. 
EU Taxonomy Project. Identification of environ-
mentally sustainable financial investments and 
activities in line with the eligibility criteria defined 
in the regulations with the aim of mitigation and 
adaptation to climate change, in collaboration with 
the firm AFI (Analistas Financieros Internacionales). 
Monitoring of the action plans derived from the 
Climate Survey 2019-2021 focused on the material 
issues identified in relation to sustainability.
Preparation of the 2020 Annual Report under the 
principles defined for preparing the Integrated 
Report, with an update in the materiality of in-
formation and methodology.
Compliance with the best practice recommenda-
tions relating to the preparation of the Statement 
of Non-Financial Information (SNFI) in line with 
the requirements established in Spanish Law 
11/2018, of December 28, 2018, on non-financial 
information and diversity. Verification Report by 
a third party without qualifications. 
Updating of the 2020-2021 Sustainability Master 
Plan and extension to the 2022 financial year.
Review and update actions related to the Crisis 
Management Manual.

44
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
4. Conscious leadership: The value of doing things well
Challenges 2022
In accordance with the expert positioning analyses carried out, the key points of 
interest identified by institutional investors for the 2022 season for the General 
Shareholders’ Meetings of listed companies, and which Grupo Antolin follows as a 
model, will be, among others:
	
🡢Review and update the governance-re-
lated information reporting and 
communication procedures for rating 
or assessment agencies. 
	
🡢Monitoring of the EU Taxonomy Project, 
as well as the foreseeable developments 
in regulatory matters regarding the 
content and scope of the information on 
environmentally sustainable economic 
investments and projects, within the 
framework of adapting the future 
regulation on the matter to the European 
framework.
	
🡢Self-assessment following the good 
governance of listed companies 
standards of the operation of the 
Board of Directors and the Delegated 
Committees of the Board, according 
to biennial planning and under the 
guidance of the independent advisor 
who chairs the Appointments and 
Remuneration Committee.
	
🡢Monitoring of the climate change, 
decarbonization and circular economy 
targets. Analysis of Grupo Antolin’s 
footprint and trends.
	
🡢Development of non-financial informa-
tion and its integrated reporting.
	
🡢Continuous adaptation of the 
Sustainability Master Plan to the 
expectations and needs of the market, 
stakeholders and the company itself.
	
🡢Information on corporate 
transactions. 
	
🡢Updating new CNMV developments re-
garding the best corporate governance 
practices of listed companies.

45
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
4. Conscious leadership: The value of doing things well
Management committee
CORPORATE FUNCTIONS
REGIONS
BUSINESS UNITS
They offer global services to 
the Business Units and 
the regions
They work continuously 
with the Business Units 
and provide a local vision
Responsible for the standardization 
of products and industrial processes 
as well as the technical and 
industrial aspects
Management team
Grupo Antolin’s management team is made up of 271 members distributed across the 
26 countries in which the company operates. Integrated into this team, Grupo Antolin’s 
Management Committee is formed by 15 leading professionals who have extensive experi-
ence in the automotive industry. 
The Management Committee has seen a 25% increase in female representation compared 
to the 2020 financial year, with the appointment of a new Human Resources Director, cur-
rently representing 27% of the total members. This trend reflects the company’s commit-
ment to promoting talent to positions of great responsibility regardless of gender or other 
personal circumstances.
Senior management
Corporate 
functions
Business 
Units
Regions
Ernesto 
Antolin Arribas
Chairman
María Helena 
Antolin Raybaud
Vice-Chair
Jesús 
Pascual Santos
Chief Executive Officer
Juan Carlos González 
Corporate Business and 
Technology Director 
Javier Villacampa 
Corporate Innovation 
Director
Miguel Marañón
Corporate Sales Director
Russ Goemaere
Regional Director NAFTA
Pedro Santesteban
Director of the Overheads 
and Trunk Trim BU
Miguel Marañón
Regional Director Europe
Fernando Sanz
Director of the Cockpits 
and Doors BU
Cristina Blanco
Corporate Finance Director
Pablo Ruiz
Corporate Legal Director
Miguel Ángel Prado
Corporate Industrial 
Director
Marta Cuevas
Director of the Lighting and 
HMI BU
Jorge Juárez
Director of the Electronic 
Systems BU
Jorge Juárez
Regional Director Asia-Pacific
Fernanda Cardama 
Organization and 
Human Resources Director

46
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
4. Conscious leadership: The value of doing things well
Management approach
Leading by example is one of Grupo Antolin’s hallmarks, especially in relation to full com-
pliance and respect for all laws. This way of understanding its activity is even more deeply 
rooted today, if that is possible, given the global nature and complexity of the markets and 
the increase in the reputational risks inherent to the business and its impact on society. The 
company makes significant effort to generate an internal culture in which every person is a 
model of responsible behavior in their relationships with others.
As part of the company’s new Environmental, Social and Corporate Governance (ESG) 
objectives, Grupo Antolin aspires to strengthen the added value of its business model 
in which it positions itself as a leader in ethics, integrity and compliance, and extend its 
responsible management to the entire supply chain. 
4.3. 
We are setting standards:  
Ethics and compliance
CODE OF ETHICS AND CONDUCT 
Cornerstone of Grupo Antolin’s compliance management 
system and a guide for the daily behavior of all members 
of the organization. Compliance with this is extended to 
all associations with external persons or organizations.
COMPLIANCE SYSTEM
Set of policies and guides for the control and prevention of 
practices contrary to the legal system in the territories in 
which the company operates, as well as those that violate 
Grupo Antolin’s internal regulations.
Code of Conduct for Suppliers 
Essential in the supply chain selection and 
assessment processes.
Whistleblowing Channel 
Confidential and open to anyone inside or outside 
the organization.
Corporate Compliance Policy 
Framework to effectively define, detect and assess the 
risks Grupo Antolin is facing due to a potential breach 
of the regulations.
Anti-corruption policy 
Brings together the commitments, guides and policies to 
fight against any conduct that may be considered an act of 
corruption or bribery.
Corporate Social Responsibility Policy 
 
Guarantees responsible management of the impact of 
Grupo Antolin’s activity on the environment and society.
Conflict of interest policy 
Express declaration that guarantees the absence of 
conflicts of interest in Grupo Antolin’s relationships 
with its commercial and professional environment.
Gifts and hospitality services policy 
 
Grupo Antolin forbids the promising, offering, receiving or 
granting of any unjustified benefit to directors, managers, 
employees or collaborators of any company, business, 
association, foundation or organization.
Compliance guidelines: donations and contributions 
Describes what the purpose of a donation or contribution 
should be, aligned with the sustainable contribution model 
established by the company. 
Telematic conduct guide 
New guide launched in 2021 for the proper use of information 
and communication technology tools in the workplace. 
Ethics and Compliance Model
As part of the company’s Strategic Plan, the 
Compliance Master Plan 2017-2024 sets the 
road map to evolve the organization’s initial 
compliance maturity level to an optimal level 
by 2024. The aim is for the organization to be 
able to proactively identify any potential risk 
and provide an appropriate response. 
In addition to the foregoing, it is important to 
note that Grupo Antolin relies on a series of 
tools and guides in the daily management of its 
activity that safeguard its ethical commitment. 
A benchmark in ethics, 
integrity, and compliance
	
❯100% of people trained in the Code of 
Ethics
	❯
A responsible supply chain
	
❯100% adherence to the Supplier Code of 
Conduct
	
❯100% of direct material suppliers assessed 
in ESG
	
❯0 confirmed ESG complaints
Business 
OBJECTIVES

47
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
4. Conscious leadership: The value of doing things well
Committed to Human Rights
Respect for the Human Rights of everyone involved in Grupo Antolin’s activity is a priority issue for the company. From a culture based on 
the principles of prevention, mitigation and repair, Grupo Antolin pursues the objective of zero violations both in its organization and in 
the supply chain. 
Grupo Antolin closely follows the trends in this matter and meets the expectations of its stakeholders. Knowing how to listen and un-
derstand what a concept as broad as Human Rights means allows the company to anticipate the requirements, as well as integrate this 
commitment into all the team’s decisions and actions. 
The Whistleblowing Channel is Grupo Antolin’s main complaint 
mechanism, available to all employees and external stakeholders.
Mechanisms for redress
1
2
3
Grupo Antolin promotes its protection and respect through the Code of Ethics and 
Conduct, as a guiding document and highest expression of ethics and integrity, 
interpreted jointly with the rest of the organization’s policies that implement each 
of the Company’s principles and commitments.
Public commitment to Human Rights
Grupo Antolin is making progress in the process from a 
dual materiality approach, with several key points
Due diligence procedure
	▸Identification of applicable 
Human Rights based on their 
impact.
	▸Identification of potential 
conflicts from a prevention and 
management perspective.
	▸Awareness, education and 
training for 100% of the 
workforce.
	▸Acceptance of the Code of 
Ethics by 100% of the team.
	▸Extension of the commitment 
and acceptance of the Code of 
Ethics for suppliers by 100% of 
the supply chain.
Receipt of 
the communication
Analysis and assessment 
by the Compliance Department
Filing of the complaint
Internal investigation
The complaint is accredited
Remediation measures and referral to  
the competent internal and external bodies
Human Rights 
management model 
at Grupo Antolin
Grupo Antolin is firmly committed to 
a sustainable business model that combines 
profitability with the economic, social and 
environmental prosperity of society, 
mainly in the countries in which it operates, 
always considering 
a Human Rights approach.
	▸Assessment of the Human 
Rights performance of 100% 
of direct material suppliers.
	▸Promotion of mechanisms 
that allow for the safe 
communication of any 
queries, information or 
complaints.
	▸Research, processing, remedy 
and follow-up procedures.
	▸Continuous monitoring as 
a measure for anticipating 
potential risks.
EXTERNAL REFERENCE FRAMEWORK
INTERNAL REGULATORY FRAMEWORK
	▸Universal Declaration of Human Rights.
	▸United Nations Global Compact.
	▸Agenda 2030 on Sustainable Development.
	▸Guiding Principles for Companies and Human 
Rights.
	▸Children’s Rights and Business Principles.
	▸Directive Guidelines of the OECD for 
Multinational Companies.
	▸Guidelines and principles of the International 
Labor Organization. 
	▸Modern Slavery Statement.
	▸World Benchmark Alliance. Corporate Human 
Rights Benchmark Corporate (CHRB).
	▸Code of Ethics and Conduct.
	−Code of Conduct for Suppliers
	−Whistleblowing Channel 
	▸Strategic plan: Sustainable business 
model. Planet, People, Business 
Objectives. 
	▸Corporate social responsibility policy: 
Human Rights Policy. 
	▸Conflict minerals policy. 
	▸Modern Slavery & Human Trafficking 
Statement.

48
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
4. Conscious leadership: The value of doing things well
Fight against corruption and bribery
Grupo Antolin promotes a zero tolerance culture against any form of bribery or corruption, be it active 
or passive, private or public. To do this, it has a Global Anti-Corruption Policy, aligned with the main 
international references on corporate responsibility and anti-corruption, such as Principle Ten of the 
United Nations Global Compact, the recommendations of the Organization for Economic Co-operation 
and Development (OECD), the United States Foreign Corrupt Practices Act, and the United Kingdom 
Bribery Act, among others.
The company also constantly broadens and improves the mechanisms for detecting, correcting and 
reporting these abusive practices. Proof of this is the certification of the Criminal Compliance and 
Anti-Bribery Management Systems in accordance with the requirements of the UNE 19601:2017 and 
ISO 37001:2017 international standards. From a financial viewpoint, Grupo Antolin has various controls 
implemented through the internal risk control and management system relating to financial reporting 
(FRMS), developed and assessed by an Internal Auditor. 
Another fundamental element of this commitment is the training, educating and awareness of all its 
professionals. In 2021, Grupo Antolin offered its teams new courses –through its e-learning platform– 
on issues such as anti-corruption and conflicts of interest. The training is completed with awareness 
actions such as the one carried out for International Anti-Corruption Day with the publication of a 
statement and an information video to remind the entire organization of the importance of this zero 
tolerance. 
Promoting compliance with Human Rights 
throughout the value chain represents one of the 
company’s priorities for the future, even more 
so given that the future will bring growing risks 
such as technological development, accelerated 
urbanization in developing countries and the 
consequences of climate change.
In 2021, Grupo Antolin implemented different 
initiatives to make progress in complying with 
Human Rights:
Money laundering
Grupo Antolin contributes to the identification of the origin and 
destination of funds to prevent the financing of criminal activities, 
terrorism or capital flight, by certifying the ownership and origin 
of bank accounts.
	❯
Coaching and training for its professionals 
in the area of Human Rights, supported by 
awareness and education actions.
	❯
Identification of applicable Human Rights 
based on their impact for Grupo Antolin, sup-
ported by the methodology developed by the 
Corporate Human Rights Benchmark (CHRB) 
initiative for the automotive sector.
	❯
Specific training for the prevention and fight 
against harassment.
	❯
Updating of the main Human Rights violation 
risks linked to the automotive sector within 
the company’s current risk classification in 
SAP_GRC (Risk Management module).
	❯
Monitoring of actions and behaviors that 
could involve a violation of Human Rights. 
With the demands that have characterized the 
company since the beginning, Antolin is pro-
gressing, hand in hand with its customers, in 
reinforcing the promotion of diversity, respect 
for Human Rights and providing decent working 
conditions throughout the supply chain. In the 
United States, it actively works with the Ford 
Suppliers Diversity and Inclusion team in the 
Tier “II WIN (Widening the Inclusion Network) 
Program USA & the Michigan Minority Supplier 
Development Council”, to make progress in 
meeting the targets set to promote procurement 
through minority-owned suppliers from socially 
or economically disadvantaged and underrepre-
sented groups
The company has also taken part in training 
sessions given by the Volkswagen Group in those 
countries considered to be at risk where it has a 
presence. Another important area of action is the 
fight against human trafficking. At the request 
of Honda: Grupo Antolin has created a working 
group under the Human Rights in Transit ini-
tiative to take measures to combat this serious 
violation of Human Rights in the particularly 
sensitive region of North America.
No cases of Human Rights 
violations were identified 
in 2021

49
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
4. Conscious leadership: The value of doing things well
Training: teams are informed about the 
content and approval of the Conflict 
of Interest Policy through internal 
notifications. 
Establishment of a procedure and sys-
tem for the segregation of functions: a 
tool that allows us to monitor, manage 
and control access.
Managing conflicts of interest
Grupo Antolin understands a conflict of interest to be a situation that affects the level of objectivity, neu-
trality or independence of a person due to being unduly influenced by an interest of a personal or financial 
nature. To identify these cases, Grupo Antolin follows its Conflict of Interest Policy, which includes both 
prevention and management measures: 
Procedures that prevent or control the 
exchange of information between pro-
fessionals who participate in activities 
that may involve a risk, as well as a close 
supervision of their functions.
Certification of conflicts of interest: indi-
vidual and confidential declaration to be 
completed by a certain group, which, due 
to its responsibility and authority, partici-
pates in decision-making.
Advice: any employee can communi-
cate or request advice in potential sit-
uations of this type, through a private 
email address for Compliance or the 
Whistleblowing Channel.
Grupo Antolin’s due diligence mechanisms 
apply to all of the people 
and entities who want to work 
with the organization
Due diligence, 
a guarantee of compliance
Respect for the principles and values that inspire Grupo Antolin 
goes beyond scrupulous internal compliance and also concerns any 
external people and companies who want to be associated with 
the organization. That is why it considers it essential to equip itself 
with due diligence procedures, included within the Compliance 
Management System.
Through these procedures, the company defines, implements and 
manages the due diligence common to the entire workforce, to people 
who are in exposed positions within the organization, as well as to third 
parties linked to Grupo Antolin’s activities (customers, suppliers and 
business partners). 
Through the detection of those situations that may entail a risk, the 
monitoring methods defined by the organization are put into place 
so that they can be appropriately monitored and subsequently val-
idated. This allows action plans to be defined that guarantee the 
good work of the company and compliance with the governance 
model.

50
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
4. Conscious leadership: The value of doing things well
Respect for free competition 
Grupo Antolin defends free competition and 
believes that it has a beneficial effect on the 
economy as it encourages companies to be more 
efficient, to innovate and to constantly improve 
the quality of their products. In an environment 
where the rules of the game are clear for every-
one, Grupo Antolin considers that the freedom 
of companies to make their own decisions offers 
the end customer the best options to choose the 
products or services that best suit their needs. 
The company therefore does not allow participa-
tion in any activity that may result in a restriction 
of this right. On the closing date of this report, 
there were no pending or completed legal actions 
in the area of competition. In 2021, all the sales 
teams received training on this matter through a 
course given by the Compliance department on 
the Spanish Competition and Antitrust Act. 
Promotion of transparency
Grupo Antolin has established a culture of trans-
parency among all of the people forming part of 
the company or who maintain a regular relation-
ship with it. The key element is the Whistleblowing 
Channel, provided to allow for the reporting of 
possible breaches of the Code of Conduct. The 
complainant (internal or external) can submit 
their report through the website, an email ad-
dress or a PO Box. They have the option to identify 
themselves or do this anonymously. 
All reports made through this channel are pro-
cessed, analyzed and assessed by the company’s 
Compliance Department. If the procedure contin-
ues, an internal investigation is launched. If in the 
end there is proof of an infringement, measures 
to be adopted to remedy this are proposed (disci-
plinary action, reporting to the authorities, system 
improvements or internal procedures to prevent 
similar situations in the future), and it is referred 
to the competent bodies to agree on and impose 
the corresponding disciplinary action.
Twenty-five complaints were received through 
the Whistleblowing Channel in 2021, one fewer 
than in the previous year. Of these, eighteen 
were substantiated complaints and in response 
there were eighteen corrective actions. One case 
of corruption was also recorded, which was re-
sponded to appropriately, as well as five reports 
in the area of Human Rights and discrimination, 
which were also resolved. 
Responsible taxation conduct
Grupo Antolin strictly complies with current tax regulations both nationally and internationally in all 
the countries in which it operates. The corporate tax policy is integrated into the company’s Corporate 
Governance regulations, which are approved by the Board of Directors. 
All entities comprising Grupo Antolin contribute fairly to meeting public financial demands, always 
acting with prudence in the interpretation of the regulations and demonstrating responsibility in their 
application. Moreover, both in Spain and in all other countries in which it operates, the company wants 
to comply with, develop and implement good tax practices. And it has committed to having relation-
ships with the Tax Authorities based on the principles of transparency, good faith and fairness.
All claims received through 
the Whistleblowing Channel 
are processed, analyzed 
and assessed by 
the Compliance Department

51
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
4. Conscious leadership: The value of doing things well
Protection
Prevention of 
cyber attacks
Response
Investigation and 
containment 
of the impact
Recovery
In the event of a serious impact, 
the recovery and reinforcement 
of business continuity
Intelligence
Gathering of information 
to avoid future attacks
Employees
Cyber security awareness program
Supply Chain 
management
Collaboration with suppliers
Security of information
Respecting privacy and guaranteeing the proper processing of the information on professionals, cus-
tomers and other stakeholders with whom Grupo Antolin interacts is a fundamental element for the 
company on which to build and retain the trust shown by them all. To do this, the Corporate Information 
Security Policy is integrated into Grupo Antolin’s management model, which guarantees the highest 
standards of ethics, integrity and compliance in this matter. 
The guidelines on which this protection of corporate information resources is based are:
2
3
4
5
6
7
Protection of 
personal data
Security of information 
(systems within 
the company)
Cybersecurity 
(protection against 
external attacks)
In 2021, different notification, awareness and training actions have been carried out for the entire work-
force who make digital tools their main working method. In addition to raising awareness and informing 
about the adverse effects of malicious communications (malware), the objective was to make it easier 
for the user to identify communications or interactions that could lead to potential security breaches in 
the system and their consequences. 
In this way, the company not only commits to properly identifying data and information, but to im-
plementing the control mechanisms required to protect them, and to using them efficiently for its 
legitimate business needs worldwide. This premise also applies to the management of confidential 
information provided by its customers. 
In addition, the mobility of the future is already raising new information security challenges. As a result, 
Grupo Antolin is working on new technological solutions by taking into account respect for the protec-
tion and privacy of the information obtained in these developments.
Cyber Security and Security of Information are closely related concepts. Security of information, which 
encompasses management beyond information systems, including areas such as prototype manage-
ment or the physical security of buildings, continues to be mostly focused on digital assets. To achieve 
better adherence to cyber security, in 2021, the responsibility for information security was transferred 
to the Corporate Information Systems Department.
As recognition of the strength of the information security systems, it is worth mentioning the obtaining of 
the Very high label as a result of the audit by TISAX (Trusted Information Security Assessment Exchange). 
This, together with the ISO 27001 Audit, have been passed with no issues raised.
As a consequence of the digitalization of business activity, robotization and digital tools, driven by the 
effect of the pandemic, dependence on digital communication for interaction with others has multi-
plied. As this dependence progresses, the risk of cyber attacks increases exponentially at a company 
like Grupo Antolin. In this context, Antolin has defined a 360° strategy, based on eight pillars, with the 
aim of reinforcing the protection of the Company’s assets against cyber attacks and cyber crimes.
Detection
Identification and monitoring 
of attacks
8
Security test
Regular testing to validate 
security systems
1
Pillars of 
the Cyber Security 
Program

52
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
4. Conscious leadership: The value of doing things well
Environmental and 
socio-economic compliance
Grupo Antolin is very happy to respond to any queries or complaints it receives on environ-
mental, social or economic matters. The organization’s ethical and compliance conduct 
establishes a series of procedures to channel such communication. In 2021, no significant 
breaches of environmental, social-economic legislation or regulations have been identified. 
The investment in training and awareness made by Grupo Antolin not only improves the performance, productivity and 
competitiveness of the company, but also offers the workforce the possibility to improve their qualifications and enhance 
their talent and employability. In 2021, new training modules were offered on the ‘Success Factor’ e-learning platform. 
These are in addition to the course launched last year on Compliance and the Code of Ethics and Conduct. 
Among the new training options made available over the last year, it is worth mentioning a training module on the prevention 
and combating of harassment, to recognize the various forms of harassment, respond effectively to potential incidents and 
understand everyone’s role in preventing harassment and promoting respect.
Beyond this training activity, Grupo Antolin carries out awareness campaigns with posters and other information materials 
at the work centers, and incorporates new communication tools such as the “weekly compliance flashes” and increasingly 
popular formats such as videos, podcasts and audiobooks. 
*Cumulative figure since its launch in 2019 as a ratio of the target audience according 
to the impact of its activity.
**Launched in 2021
Training and awareness-rising:  
key factors for a compliance culture
Compliance and 
Human Rights through 
the Code of Ethics and 
Conduct online course*
Anti-corruption 
and Competition
Data protection 
and privacy
Conflict of interest 
and Independence**
Prevention and 
combating 
of harassment**
Employees
Hours
Employees
Hours
Employees
Hours
Employees
Hours
Employees
Hours
2020
6,237
5,503
1,724
1,249
501
594
2021
6,783
5,697
1,938
1,404
588
687
1,645
1,316
3,895
2,922

53
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
4. Conscious leadership: The value of doing things well
4.4. 
Preventing and controlling risks
Management approach
Risk management is a fundamental part of Grupo 
Antolin’s strategy and it believes that investing in 
its prevention and mitigation brings the company 
closer to its business goals in all the areas where 
it operates. 
To this end, it has an Internal Control system that 
reflects some key principles: 
	❯
Managing risks across the company.
	❯
Ensuring compliance with the Corporate Risk 
Management process: identification, assess-
ment, response, monitoring and tracking of 
the risks and information on them.
	❯
Establishing the risk levels deemed accept-
able by the company.
	❯
Providing responses to the risks that are con-
sistent and appropriate given the business 
situation.
	❯
Regularly reviewing the assessment of risks 
and the responses to them.
	❯
Monitoring the controls and strategies related 
to risk management to verify that they work.
	❯
Assessing the fulfillment of the activities to 
identify, assess, respond to, monitor and track 
the risks and information on them, in accor-
dance with the latest standards.
	❯
Designing the information systems, internal 
controls and strategies for managing and 
mitigating risks.
Risk catalog
Grupo Antolin has a risk catalog that contains the different types of risks identified by the company. 
It is updated regularly following three criteria: probability of risk occurrence, internal capacity to detect 
and manage the risk, and impact in the event of the detected risk materializing. 
As part of the risk catalog, under non-financial risks, Grupo Antolin has included all risks that do not have 
a financial origin but do have a quantifiable impact on the business.
Given Grupo Antolin’s strong commitment to promoting sustainability, energy savings and energy effi-
ciency, the company includes several points related to climate change: environmental risk, non-compli-
ance with environmental legislation, incidents in the environmental management of production (which 
includes waste management) and, finally, the risk of climate change. 
Corporate risks
Specific risks
	❯Strategic Risks: related to the objectives in 
the Strategic Plan
	❯Operational Risks: related to the objectives linked to 
the effective and efficient use of resources
	❯Reporting Risks: related to the reliability of 
the supplied information 
	❯Compliance Risks: Related to compliance with laws and 
regulations
	❯Corruption and 
money laundering 
	❯Human resources 
	❯Training
	❯Health and safety 
	❯Environment
	❯Suppliers 
	❯Human Rights 
	❯Social action and communities 
The bodies involved in Grupo Antolin’s risk man-
agement are:
Risk committee
This is made up of Grupo Antolin’s Corporate 
Risk Manager and representatives 
from different organizational areas. 
Its functions include updating and analyzing 
the company’s risk catalog, monitoring and 
recommending the development 
of specific action plans.
Audit Committee
Supervises and manages 
the company’s risk control system.
Management Committee
Ensures the proper functioning of 
the Risk Management Model.

54
GRUPO ANTOLIN | INTEGRATED REPORT 2021 
Go to contents
4. Conscious leadership: The value of doing things well
Risk map 
In January 2021, Grupo Antolin’s new risk map came into 
force. This is shared monthly with the Risk Committee and the 
Management Committee, and also regularly with the Audit 
Committee for its analysis and review. 
In addition to what is called the ‘Environment risk’ being ranked 
in ninth place, this risk map includes new risks related to the 
social and economic consequences of the pandemic for Grupo 
Antolin, its staff, customers and supply chain. 
During the second half of the year, Grupo Antolin updated the 
catalog of risks and their subsequent assessment. The consoli-
dation of the risks assessed resulted in a new scorecard, which 
will be regularly monitored from January 2022. 
Grupo Antolin, 
the industrial company with 
the best reputation in Spain
The 2021 edition of the Merco Empresas rank-
ing, the most prestigious corporate reputation 
monitor in Spain, placed Grupo Antolin among 
the 100 Spanish companies with the best reputa-
tion in the country; specifically, in 92nd place. 
Moreover, within the ranking of the companies 
with the best reputation in the sector, the com-
pany achieved first place, becoming the indus-
trial company most valued for its responsible 
management and its values. 
Grupo Antolin has been a feature in Merco 
Empresas since 2014, when it entered the industrial 
sector ranking for the first time. For the company, 
this is a great recognition of its efforts to develop 
a sustainable business model that generates val-
ue for all its stakeholders through processes and 
products that are environmentally friendly and 
its commitment to innovation and technological 
development. All with the clear ambition of be-
coming a benchmark in the industry thanks to its 
responsible management and values.
MAIN STAKEHOLDERS 
INVOLVED
SDGs IMPACTED
People
Shareholders
Investors
Society
Good practice

05
Environment management
From commitment 
to positive impact
Improving the lives of those people who are affected by 
our activity, as well as the environments in which we operate. 
In short, leaving a positive footprint. This is our view of 
what having a net positive impact means. 
It is a work philosophy in which responsibility, listening, 
commitment and initiative come together to work for 
the good of our planet and the people who live on it.

56
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
5. Environment management: From commitment to positive impact
	
✓-30% CO2 emissions by 2028
	
✓Neutral in CO2 emissions in 
its own operations by 2040
	
✓Carbon neutrality by 2050
	
✓Life Cycle Analysis 
of its main products
	
✓-10% in non-hazardous waste 
by 2028
How we are going to do it
How we are going to do it
A new road map
Reduction 
of emissions
Energy efficiency and 
renewable energies
Extension of 
the commitments 
to the supply chain
Eco-Design and 
Life Cycle Analysis
Waste 
management
Sustainable use 
of resources
OBJECTIVES
OBJECTIVES
Value for the 
PLANET
A circular business
Carbon-neutral company
P
ar
tn
er
s
hi
ps
 f
or
 s
u
st
ai
n
ab
il
it
y
5.1. 
Reinforced 
environmental strategy
Grupo Antolin is working to become a business leader for its respect 
for the environment, its contribution to the fight against climate 
change and its support for the transition toward a low carbon econ-
omy. As part of Value for the Planet, one of the three areas of value 
creation for the company within its sustainable business model, a 
new road map has been defined –framed within the company’s strat-
egy– to respond to the challenges that the evolution towards a green 
economy implies in the sector.
The company has set some specific objectives and a series of tan-
gible actions capable of combining economic growth with the use 
of natural resources in a rational and responsible way, and that 
contribute to preserving, maintaining and protecting the natural 
environment and all those living in it. Always under the guidance of 
the Paris Agreement and the Sustainable Development Goals of the 
2030 Agenda.
The Value for the Planet commitment can be seen in two ways: 
first, the environmental footprint generated by the company itself; 
and second, the one caused by its products. In both cases, Grupo 
Antolin is working to minimize the impact generated. And it does 
so by accompanying its customers in achieving their own emission 
reduction and circular economy commitments, always in collabo-
ration with its supply chain.

57
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
5. Environment management: From commitment to positive impact
Grupo Antolin contributes to 
a ZERO EMISSIONS economy 
through the comprehensive 
environmental management 
of its business model
Prevention of environmental risks
In 2021, the new Sustainability Department, in 
accordance with the new decarbonization strat-
egy, expanded its responsibility in environmental 
matters and created a specific area for climate 
change and the circular economy. This includes 
the functions of the company’s former environ-
mental department.
In addition, each certified company has at 
least one manager dedicated to environmen-
tal management. A total of 113 Grupo Antolin 
professionals are dedicated to preventing en-
vironmental risks.
Grupo 
Antolin 
applies 
the 
Precautionary 
Principle, coming from its Environmental and 
Energy Policy, to all stages of its activity, from 
the design of products, their manufacturing, to 
the end of their useful life. In addition, the com-
pany has guarantees in the form of civil liability 
insurance to cover possible contingencies in this 
matter. 
Grupo Antolin Environmental Policy
	❯
Environmental and Energy Policy. 
It includes the promotion of renewable energy and the extension of Grupo Antolin’s 
sustainability commitments to the supply chain through the Code of Conduct for 
Suppliers.
	❯
Environmental Management System (EMS). 
Based on ISO 14001:2015, this system allows us to identify the main environmental 
impact every year and establish improvement programs. With the four new centers 
certified in 2021 (two in the United States, one in Mexico and one in China), there 
are now 97 with this certification, including the headquarters, the industrial facil-
ities with the greatest environmental impact and some assembly and sequencing 
centers.
	❯
Energy Management System (EnMS). 
System based on the ISO 50001:2018 standard to assess the significant uses of energy. 
Following the certification of a new center in Spain in 2021, there are six European 
centers that have an ISO 50001 certified energy management system.
	❯
System of corporate environmental targets to reduce CO2 emissions compared 
to sales, at the different centers and regions where the company operates, as an 
evolution of the Green Program project launched at the company in 2014.

58
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
5. Environment management: From commitment to positive impact
5.2. 
Toward a positive net impact 
on the planet
Carbon-neutral company 
Management approach
Grupo Antolin is deeply committed to the decar-
bonization of the automotive industry. To move 
closer to the ultimate goal of being a carbon 
neutral company by 2050, it is working on sever-
al lines of action: 
	
✓Corporate and product carbon footprint 
reduction.
	
✓Promoting innovation and technological 
development to reduce the weight of the 
components produced by Grupo Antolin in 
response to customer expectations.
	
✓Improving the energy efficiency of production 
processes and facilities.
	
✓Promoting the consumption of energy from 
renewable sources and the generation of 
electricity for self-consumption.
	
✓Extension of the decarbonization and re-
sponsible business commitments to the sup-
ply chain. 
OBJECTIVES
Value for the planet
Reduction of emissions
Road map
SCOPE 1
Direct emissions
Associated with combustion 
processes and greenhouse 
gases (GHG) related to the 
activity itself
Carbon neutrality 
by 2040
-30% CO2 emissions by 2028
Consume less
-5% energy consumption
Consume better
35% consumption of energy from 
renewable sources 
Offsetting emissions
SCOPE 2
Indirect emissions
Associated with electricity 
consumption and district heat 
derived from its own activity
SCOPE 3
Indirect emissions
Derived from the supply chain
Carbon neutrality 
by 2050
	❯
Scope 3 footprint measurement
	❯
Extension of the commitments 
to the supply chain

59
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
5. Environment management: From commitment to positive impact
Reduction of emissions
Grupo Antolin optimizes all its processes, from the acquisition of raw materials to the manufacturing, 
not forgetting storage and dispatch, in order to minimize their polluting emissions. The locating of its 
plants and ‘Just in Time’ production centers close to those of its customers in the 26 countries where it 
operates contributes to this.
It is also important to note that, thanks to the monitoring of the gases used in the cooling and fire 
extinguishing systems to detect possible leaks in the facilities and prevent them in the future, in 2021, 
we could control and avoid the emission of 165 tons of CO2 from this type of substance in two of the 
facilities.
The gases used in the cooling and fire extinguishing systems are considered to be other substances that 
affect the ozone layer. Both facilities are regularly reviewed by maintenance and/or inspection compa-
nies to verify the absence of leaks and compliance with the legislation applicable in each country. Once 
the preventive maintenance controls were performed in accordance with the defined procedures, leaks 
equivalent to the emission of 254 tons of CO2 were recorded in 2021.
Moreover, measurements of the outdoor noise emission levels are taken following the current regulations 
and the relevant corrective measures are applied in the event of any problems detected.
Greenhouse gas emissions
2020
2021
INDICATOR UNIT
Greenhouse gas emissions by direct consumption 
of energy (scope 1) (tons of CO2 eq) (1)
29,910
27,910
Greenhouse gas emissions by indirect consumption 
of electricity (scope 2) (tons of CO2 eq) (1)
196,289
178,308
KPI (UNIT/SALES)
Greenhouse gas emissions by direct consumption 
of energy (scope 1) (tons of CO2 eq/€ million) (1)
6.87
6.20
Greenhouse gas emissions by indirect consumption 
of energy (scope 2) (tons of CO2 eq/€ million) (1)
45.09
39.63
(1) Energy, emissions and non-hazardous waste figures correspond 97.9% (by aggregate sales) to Grupo Antolin’s industrial centers and 
assembly and sequencing centers (including the headquarters).
Grupo Antolin is working on actions 
aimed at reducing the weight 
of the components and solutions 
supplied to the customer 
Fewer emissions 
thanks to lighter products
Beyond the manufacturing phase and the emissions 
caused by its processes, Grupo Antolin is working to 
reduce vehicle emissions in the different phases of 
the life cycle of its products, with actions aimed at 
reducing the weight of components and solutions 
supplied to the customer. This contributes to mini-
mizing the environmental impact of vehicle use. 
In this area, it is worth highlighting:
	
🡢Use of structural foaming in the manufacture of 
interiors. This achieves a lightweight and stronger 
internal structure, as well as an outer layer that is 
pleasant to the touch and on the eye.
	
🡢Development of composite materials with different 
types and lengths of reinforcing fibers and the tech-
nologies required for their processing.

60
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
5. Environment management: From commitment to positive impact
Extension of the commitments to the supply chain 
The past year has been decisive in consolidating a sustainable 
supply chain. The important step taken in 2019 with the launch of 
Grupo Antolin’s Supplier Code of Conduct, as part of its commit-
ment to be considered a responsible business, has been enhanced 
in 2021 with the preparation and disclosure of a new road map with 
the company’s Environmental, Social and Governance objectives. 
Rolled out to its entire supply chain, the goal is for 100% of direct 
material suppliers to be assessed in ESG matters by 2028. This road 
map also marks the need for the decarbonization and circular 
economy objectives to be deployed in the same way in its respec-
tive supply chains in order to achieve zero net emissions by 2050 at 
the latest.
To reach this target, the company is making progress in the devel-
opment of a system that allows it to calculate its global carbon 
footprint. As a first step, it has started to measure part of the scope 
3 emissions from the transportation of its suppliers at 44 plants –in 
Europe, the United States and Mexico– thanks to a logistics manage-
ment tool, and is working to determine which categories of scope 3 
emissions established by the Greenhouse Gas Protocol are relevant 
to the organization.
Energy efficiency and renewable energies
Digitalization and advanced industry technology, together with the 
introduction of energy efficiency criteria into processes, are great 
allies in achieving the goal of reducing energy consumption by 5% 
by 2028.
In this area, the ITOEEPP project (Innovative Technologies for the 
Optimization of Energy Efficiency in Production Processes) was 
launched in 2021, with the aim of improving the energy optimiza-
tion of facilities with large energy consumptions in their production 
processes. Beginning at two centers in Spain, the initiative seeks 
to develop a digital platform that transforms the information 
stored on the use of energy into useful knowledge to optimize this 
consumption.
Consuming better focuses, as part of its strategic work line, on the 
consumption of energy from renewable sources to achieve the tar-
gets set for reducing emissions in its operations. Over the last year, 
Grupo Antolin has focused on:
	❯
The generation of electricity for self-consumption, adding a 
new photovoltaic facility in Germany to the four facilities al-
ready operating in Spain and India. At these five centers, around 
15% of the energy consumption already comes from renewable 
energies. This amount will increase in 2022 with the launch of 
two new projects in Spain and France.
	❯
The purchase of 100% renewable electricity at plants in 
Slovakia, Czech Republic, Brazil and China. This action will be 
extended to Spain and Portugal in 2022 following the defined 
plan, thanks to the agreements signed in 2020 with Acciona and 
AXPO, respectively. 
Thanks to the actions implemented in 2021, 15.2 GWh of renewable 
electricity have been consumed, 3.2% of the total; and the emission 
of 2,718 tons of CO2 into the atmosphere has been avoided. 
Electric mobility at Grupo Antolin
The commitment to renewable energy consumption was applied 
to the area of daily travel in 2021, with the installation of 
two charging points for electric vehicles and the provision of 
100% electric vehicles for the local journeys made 
by the team in the headquarters.

61
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
5. Environment management: From commitment to positive impact
A circular business 
Management approach
The balance between progress and sustainability involves decreasing the use of resources, reduc-
ing the production of waste and limiting the use of energy. As a leader in the manufacturing of 
automotive components, Grupo Antolin’s commitment is to promote a circular model: do more 
with less through a more sustainable use of resources and incorporating recycled and natural 
materials. In addition to the environmental benefits, this activity is capable of creating wealth 
and employment and allows companies to obtain a significant competitive advantage that ben-
efits society as a whole. 
Circular economy
Road map
Life Cycle Analysis 
of its main products
	❯
Eco-design of products and solutions
	❯
Monitoring and increasing the use of 
sustainable materials
-10% in non-hazardous waste by 2028
	❯
Reducing the use of non-returnable 
packaging
	❯
Less waste generation
The customer and Grupo Antolin, 
travel companions in reducing 
the carbon footprint of products
Meeting customer needs and expectations 
is much more than a mere statement of in-
tent. Grupo Antolin assumes this commit-
ment with the same ambition with which 
vehicle manufacturers advance in their 
decarbonization strategies. To do this, joint 
working through mixed teams made up of 
professionals from Grupo Antolin and the 
customer is essential. 
One of the first projects carried out by 
one of these teams focused on the LCA 
for reducing the carbon footprint of the 
product in the stages with the greatest 
environmental impact, in this order:
	❯
Manufacturing of raw materials, both 
plastic pellets and fabric (scope 3)
	❯
Indirect consumption of energy (scope 2)
	❯
Generation and distribution of energy 
(scope 3)
OBJECTIVES
Value for the planet
Eco-Design and Life Cycle Analysis
Beyond the manufacturing phase, the application 
of the principle of pollution prevention is addressed 
in certain phases of the life cycle of the components 
that are supplied to customers.
On its path toward full circularity, Grupo Antolin 
has a great ally: the promotion of eco-design 
through the Life Cycle Analysis (LCA) of its main 
products. This tool allows the company to quanti-
fy its environmental impact, identify materials or 
processes with the greatest impact and propose 
alternatives to reduce it throughout the entire 
value chain.
Focused on the conception and design of solutions 
for the mobility market, LCAs have been carried out 
on various components in recent years, such as win-
dow regulator mechanisms made from light magne-
sium alloys, interior pillars of natural fiber-reinforced 
composites and fabrics made from bamboo fibers.
As an example, in 2021, Grupo Antolin designed 
an LCA for a door panel manufactured in Spain. 
This ‘from cradle to door’ LCA follows the UNE-EN 
ISO 14040 standard and considers the impacts 
generated from obtaining the materials that 
make up the different components to manufac-
turing the panel at the facilities.
As well as identifying the main impacts, the LCA is 
also an eco-design tool that allowed us to quantify 
the impact of the following alternatives in the pre-
vious case: use of recycled material, replacement of 
the polypropylene fabric for a textile material based 
on bamboo fibers, use of 100% renewable energy 
and improved efficiency in the cooling process of 
the injection machines.
Among the projects planned for 2022 is the cre-
ation of a team specializing in LCA with techni-
cal responsibility in the design and development 
of the company’s different solutions. This group 
will first be trained in conducting the analysis 
through the use of support software, which is a 
benchmark in the world and in the industry in 
decision-making on the Life Cycle Analysis.

62
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
5. Environment management: From commitment to positive impact
Waste management
2020
2021
INDICATOR UNIT 
Non-hazardous waste (T) (1)
67,383 68,662
Hazardous waste (T) (1)
3,510
4,259
KPI (UNIT/SALES)
Non-hazardous waste (T/€ million) (1)
15.49
15.26
Hazardous waste (T/€ million) (1)
0.822
0.947
(1) Energy, emissions and non-hazardous waste figures correspond 97.9% (by aggregate sales) to Grupo Antolin’s 
industrial centers and assembly and sequencing centers (including the headquarters).
Sustainable innovation
For years, Grupo Antolin has known that inno-
vation and technological development are the 
only possible way to meet the expectations of 
its customers and to be an increasingly com-
petitive ally in a market that changes every day. 
This commitment to innovation no longer makes 
sense without the adjective ‘sustainable’. For this 
reason, all the solutions devised in the Innovation 
Department and transferred to advanced engi-
neering in the company’s Business Units to com-
plete their development, combine sustainable 
materials, advanced technical features, electronic 
devices and software for controlling their func-
tions to guarantee greater sustainability, comfort 
and safety inside the vehicle.
A good example of this is the effort made by Grupo 
Antolin to reduce the weight of the components 
manufactured for customers, in response to the 
increasingly important needs of the main vehicle 
manufacturers around the world.
Less is more
Faithful to one of the principles of the circular economy that sees all waste as a 
resource of enormous value for the economy, Grupo Antolin has been promoting 
measures to minimize the environmental impact of its products for years. Especially 
relevant is that caused by the waste from the manufacturing of overhead trims for 
cars, whose end point is usually associated with landfill or energy recovery. 
To avoid this, in 2005 the company launched the company called “ASH Reciclado 
de Techos”, dedicated to transforming this waste into boards made from a range of 
technical materials called Coretech®, which has excellent noise insulation prop-
erties and protection against moisture. In the past year, Grupo Antolin has made 
significant improvements to both the process and the technical features of the final 
product. In 2021, ASH also took over the management of fiberglass waste from oth-
er external companies and converted 256 tons of waste into more than 34,000 m2 of 
prefabricated board as a substitute for wood. 
And it was also during the past year when the first polyurethane (PU) headliner sub-
strate on the market saw the light of day, produced through a hot forming process 
that includes materials made from urban waste, post-consumer plastic waste and 
tires at the end of their useful life.
See Good practice 
 
Finally, another great example of innovation to support the circular economy is 
Novaform®: a process for processing raw materials obtained from recycled plastic 
and transforming them into components for the vehicle interior. 
All solutions devised in 
the Innovation Department 
combine sustainability and 
advanced technical features

63
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
5. Environment management: From commitment to positive impact
Sustainable use of resources
Grupo Antolin’s management systems, both for 
quality and for the environment and energy, seek 
to optimize the consumption of raw materials in 
all phases of its activity. 
In 2021, the company made progress in various 
initiatives aimed at guaranteeing the efficient 
and responsible use of natural resources:
	
❯
Elimination of the oily water hazardous 
waste.
	❯
Reduction of paper consumption through the 
digitalization of certain activities.
	❯
Composting of organic waste.
	❯
Recycling of wooden pallets.
	❯
Partnerships between companies to im-
prove waste compacting and reduce its 
transportation.
Protection of biodiversity and natural capital 
Grupo Antolin’s activity has no significant impact on biodiversity, 
as revealed from the materiality analysis carried out by the compa-
ny and which takes into account the different stakeholders.
Consumption of raw materials
2020
2021
INDICATOR UNIT 
Consumption of plastic pellets (T)
90,534
84,102
Consumption of polyol/isocyanate (T)
19,619
17,602
KPI (UNIT/SALES)
Consumption of plastic pellets (T/€ million)
22.9
20.7
Consumption of polyol/isocyanate (T/€ million)
5.4
4.3
Among the raw materials used most by the com-
pany, it is worth highlighting polyurethane foam 
(produced from the chemical components polyol 
and isocyanate) to manufacture headliner trims; 
and plastic pellets in the production of parts such 
as instrument panels, door panels and pillar trim, 
among others. 
Moreover, as a limited natural resource, water 
consumption represents a minor impact on 
Grupo Antolin’s activity. Its main use is sanitary 
and, even though it is very limited in the pro-
duction processes, rational water management 
is applied, supported by saving and efficiency 
actions. It was 1,381,513 m3 in total in 2021 and 
307.03 m3/million euro of sales. 
A good example of what this impact represents 
is the fact that 60% of the total water consump-
tion comes from its use to generate renewable 
hydraulic energy through a turbine at one of the 
company’s production centers in Austria.

64
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
5. Environment management: From commitment to positive impact
Good practice
MAIN STAKEHOLDERS 
INVOLVED
SDGs IMPACTED
Partnerships for sustainability
As emphasized by the 2030 Agenda, partnerships with different stakeholders are essential for mobi-
lizing and exchanging knowledge, technical capacity, technology and resources to support the fight 
against climate change and the transition to a circular economy. Grupo Antolin has established an 
important network of partnerships with leading entities and participates in technical forums to share 
the company’s good practices in environmental sustainability.
New life for resources
Grupo Antolin manufactures 
the first vehicle overhead 
system from plastic waste 
and used tires
Grupo Antolin has developed the first car over-
head system on the market produced through 
a hot forming process that includes materials 
made from urban waste, post-consumer plastic 
waste and tires at the end of their useful life.
This overhead system has the same appearance 
and the same properties as a standard headliner, 
meaning that the improvement in sustainability 
occurs without any reduction in the physical 
properties of the trim. In the first project with this 
technology developed for a Volvo model, 100% 
of the fabric, 70% of the core foam and 70% of 
the framework for the plastic sunroof were ob-
tained from waste that cannot be recycled in any 
other way.
The objective of this initiative is to reduce waste 
and energy consumption during the manufactur-
ing of the product and meet the demand for envi-
ronmentally-friendly vehicle interiors. In this area, 
Grupo Antolin is working on a new project with 
recycled structural polyurethane foam, which is 
also manufactured with electricity from renew-
able sources.
Customers
Society
Forética Circular Economy 
Action Group
The 2020-2021 edition focused 
on the ultimate circular ambition 
for ‘the decade of action’. Holding of 
the benchmark event, the 4th Circular 
Economy Business Forum.
Forética 
Climate Change Cluster
Presentation of the report 
‘Zero net emissions: 
Companies in Spain facing 
the challenge of decarbonization’.
Circular Plastic Alliance 
(CPA)
Collaboration through 
the ‘Design Product Teams for 
the Automotive Sector at the 
CPA’ working groups.
SERNAUTO Responsible Business 
Committee
During the year, it strengthened its 
sectoral knowledge lab, 
new partnerships with key stakeholders 
and the measurement of the ESG impact 
on the sector.
Main partnerships in 2021

65
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
5. Environment management: From commitment to positive impact
5.3. 
Better people 
for a better future
Management approach
The goals set by the 2030 Agenda offer companies 
a unique opportunity to help create prosperous 
environments through their commitment to and 
collaboration with all their stakeholders. This is 
how Grupo Antolin understands its responsibility 
in promoting more sustainable and respectful 
development that can offer fair and equitable 
growth for everyone. This is reflected in the ob-
jectives of the ‘Value of people’ part of its road 
map to make progress with creating a responsible 
business model. 
In Grupo Antolin’s philosophy, the key to achieving 
a balance between sustainability and develop-
ment is to connect economic, environmental and 
social value in the areas close to the company’s 
activity. This way of understanding its activity is 
contained in the Management Model, specifical-
ly the Contribution Model, which describes how 
the company wants to and can interact with the 
environment in which it operates with its stake-
holders, in order to build a future of shared pros-
perity under the three-fold economic, social, and 
environmental perspective.
Linked 
to 
Grupo 
Antolin’s 
Sustainable 
Contribution Model, in 2021, it published the 
procedure for the internal management of re-
quests for collaboration, sponsorship, donation 
or any other form of contribution received or 
generated internally in the organization. The 
procedure is accompanied by a guide that facil-
itates decision-making for the companies when 
they receive a specific request or application for 
a contribution. 
The principles that underpin the day-to-day 
management of Group Antolin are universal. The 
family business’s sustainable spirit comes from 
inside the business itself and from the beliefs of 
the people who make up the company.
OBJECTIVES
Value of people
Committed to a sustainable future
	❯
Promoting initiatives for the economic 
development of society
Internal reference framework
	
🡢Strategic lines, commitments, and policies.
	
🡢Vision and Values.
	
🡢Code of Ethics and Conduct: Donations and contributions.
	
🡢Sustainable Business Model.
	
🡢Corporate Social Responsibility Policy.
	
🡢Sustainability Master Plan.
	
🡢Due diligence policy and principles; as well as policies and guides on Corruption 
and Bribery and against harassment and its prevention.
External reference framework
	
🡢United Nations Universal Declaration of Human Rights.
	
🡢Agenda 2030: Sustainable Development Goals 3, 4, 5, 7, 8, 9, 10 and 17.
	
🡢Principles of the United Nations Global Compact. Principles 1 and 2.
	
🡢Guiding Principles of Business and Human Rights.
	
🡢Children’s Rights and Business Principles.
	
🡢United Nations Convention against corruption.
	
🡢OCDE (Guidelines for Multinational Enterprises).
	
🡢OCDE (Due diligence guidance for responsible business conduct).
	
🡢ISO 37001:2017 Anti-bribery management systems.
	
🡢UK Bribery Act 2010.

66
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
5. Environment management: From commitment to positive impact
Social contribution 
Grupo Antolin defines social commitment as 
the active and voluntary contribution to the sus-
tainable development of the countries in which 
it operates, turning challenges into business 
opportunities. In this vision, the company must 
horizon scan and, without losing sight of its 
economic purpose, be aware of its commitment 
to the stakeholders with whom it interacts. They 
are connected by a deep-rooted sense of pur-
pose, in such a way that the company can adapt 
to the needs and requirements demanded at all 
times. 
Social contribution (in euros)
2020
2021
TOTAL
601,281.80
855,552.08
By region
Asia and Africa
151,274.81
338,929.11
Europe
426,124.35
290,692.80
Mercosur 
(Southern Common Market)
826.40
2,943.66
NAFTA
23,055.38
222,986.51
By contribution 
type
Donations and 
voluntary actions
60,794.76
382,498.01
Sponsorship and patronage
345,572.01
464,991.98
Emergency responses
194,914.17
8,062.09
Per employee 
22.57
34.19
Creation of shared value
Grupo Antolin establishes relationships with many different representatives in a true re-
flection of the fact that communities, and society as a whole, are increasingly diverse and 
complex. On a more general level, these links are mainly established with entities and 
organizations in the academic, environmental, industrial and social areas. On a more local 
level, these relationships are customized and strengthened depending on the specific com-
mitment and the areas related to it. 
The objective is to establish long-term links capable of enriching both parties and lasting 
over time, as opposed to one-off contributions, although these may occur at times. These 
more one-off commitments are usually local and are managed by each company, always 
in line with the areas of action defined in the Contribution Model. 
Grupo Antolin contributes to 
the sustainable development 
of the countries in which 
it operates, turning challenges 
into opportunities

67
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
5. Environment management: From commitment to positive impact
Partnerships for a better future 
Grupo Antolin maintains close contact with different stakeholders, both public and private (industrial, 
business and automobile sector associations). The commitment to its environment leads the company 
to establish collaborative ties with many national and international institutions and participate in nu-
merous public events around the world.
 
The main associations and entities with which Grupo Antolin has collaborated in 2021 are:
Automotive
	▸Grupo Antolin held the Presidency of SERNAUTO 
(Spanish Association of Automotive Suppliers) for 
6 years until the end of 2021.
	▸Globally, Grupo Antolin collaborates with more than 
20 associations from the automotive sector, 
among which we can highlight:
Open innovation, cooperation 
and knowledge transfer:
	▸Collaboration with open innovation and promoting 
entrepreneurship platforms: Polo Positivo (Burgos), Wolaria 
(Castile and Leon), and Ennomotive (Madrid).
	▸Integration into the Plug & Play community (see Good 
practice chapter 2 
 ).
Education, employability, development of talent 
and diversity:
	▸Design Challenge Award: with universities and schools 
around the world.
	▸Dual vocational training schools in Germany, Spain, the 
United States and Mexico.
	▸Internship programs at companies.
	▸Graduate scholarships and contracts for research 
assistants at the General Foundation of the University of 
Burgos.
	▸CAD modeling 2021.
	▸Tertiary Education Bursaries South Africa (study 
scholarships).
	▸FFL First Lego League Tournament.
	▸7th edition of Speed Job Dating.
	▸@50&50 #ChicasImparables (#UnstoppableGirls, female 
leadership).
	▸Outsourcing of component assembly activities in Spain to 
centers that employ people with disabilities.
	▸Outplacement service in the process of decoupling 
professionals from the company to facilitate their access 
to the labor market.
Promotion of business action 
on health and sustainability:
	▸European Working age project (promoting healthy habits 
in people aged over 50).
	▸Grupo Antolin enFORMA Sports Club.
	▸Grupo Antolin Sports Club for the children of employees in 
Burgos.
	▸Together it’s possible: cancer prevention campaigns.
	▸Participation in local activities in different sporting 
disciplines.
Social and environmental development 
of the environment: 
	▸#VacunandoAlMundo (#VaccinatingTheWorld): in 
collaboration with UNICEF, donation of two solar-
powered refrigerators for health centers and 499 
portable refrigerators for the distribution of vaccines to 
rural communities.
	▸#UnPlatanoPorLaPalma (#ABananaForLaPalma): 
for every dish created using bananas from La Palma 
and consumed on the menus in the canteen at 
headquarters, Grupo Antolin made a financial donation 
to those affected by the volcano.
	▸“Village Upliftment Program” project (in communities 
in India).
	▸Big food collection to support local food banks.
	▸For a good cause: charity Christmas auction among the 
workforce.
	▸Environmental volunteering in Spain, India and Mexico.
	▸Child protection initiatives in Europe, NAFTA and 
Mercosur.
	▸Blood and plasma donation campaigns.
Innovation
	▸Grupo Antolin is a member of the Board of 
the COTEC Foundation.
	▸Globally, we can mention belonging to associations 
such as: 
Among the initiatives carried out in 2021, we can highlight the following:

68
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
5. Environment management: From commitment to positive impact
Academic
Business
Cultural
Sustainability
	▸Sponsorship of the Chair of the Connected Industry 
(ICAI) of the Higher Technical School of Engineering at 
Comillas Pontifical University.
	▸It is a member of the Spanish Chamber of Commerce 
and participates in several committees.
	▸Founding member of the Spanish Global Compact 
Network and a member of its Executive Committee.
	▸SERNAUTO Responsible 
Business Committee.
	▸Forética: Social Cluster, 
Transparency and Good 
Governance Cluster and 
Climate Change Cluster. 
Working groups: Circular 
Economy and the Future of 
Sustainability.
	▸Member of the Board of the 
Princess of Asturias Foundation.
	▸Collaborator in the Burgos 
Cathedral 8th Centenary 
Foundation.
Good practice
MAIN STAKEHOLDERS 
INVOLVED
SDGs IMPACTED
#VacunandoAlMundo
Children’s drawings 
that help other kids 
People
Society
Grupo Antolin and UNICEF joined forces again in 2021. 
On this occasion, they did so in the #VacunandoAlMundo 
(#VaccinatingTheWorld) campaign, linking their tradi-
tional Children’s Christmas Card Drawing Competition 
to the COVAX project, which, in addition to UNICEF, 
also involves the WHO, the Global Alliance for Vaccines 
(GAVI) and the Coalition for Epidemic Preparedness 
Innovations (CEPI). The aim is to ensure that access to 
vaccination against COVID-19 is a reality for everyone, 
regardless of their financial resources. 
Under the slogan Make a wish!, the children of Grupo 
Antolin’s employees participated in the 27th edition of 
this charity competition with their Christmas drawings 
related to the company’s activity and the automotive 
world. The winning works, that came from centers in 
Germany, Brazil, Spain, Hungary, India, Mexico and 
Romania, were turned into the company’s Christmas 
cards to celebrate the holidays. Thanks to this ini-
tiative, Grupo Antolin donated two solar-powered 
refrigerators for health centers and 499 portable re-
frigerators to the COVAX project, for the distribution of 
COVID-19 vaccines to rural communities. 
Family
	▸Grupo Antolin is a member of the Family Business 
Institute.
	▸Since 2004, Grupo Antolin 
has been committed to the 
business responsibility initiative 
of the United Nations Global 
Compact and to its principles 
regarding Human Rights, work, 
the environment and the fight 
against corruption.

06
Stakeholders
At the center of everything
Like the cardinal points on a compass, our stakeholders set 
the course for Grupo Antolin. Our definition of success is that 
in which the profitability of the business and the creation of 
value for investors, customers, professionals, and 
the supply chain coexist in perfect harmony. All of them remind 
us of one of our founding principles, the reason we aspire to 
be better every day: people, always at the center of everything.

70
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
6. Stakeholders: At the center of everything
6.1. 
Investors
Management approach 
Grupo Antolin’s adaptation to its environment stems from a rig-
orous prior internal and external analysis of the organization –
teams, processes and practices– through which the company is 
able to quickly detect its weaknesses and strengths in order to 
respond to any threat or take advantage of new opportunities. 
This responsiveness, together with progress in the digitalization 
of the finance function and strong relationships with the financial 
community, help mitigate the uncertainty surrounding the current 
situation in the industry.
Grupo Antolin focuses all its efforts on generating long-term eco-
nomic and financial value for its investors, while integrating sus-
tainability into its entire value chain. All of that while promoting 
truly tangible sustainable practices and contributing to the devel-
opment of the local communities in which the company operates.
As well as aligning with the main international commitments on 
environmental protection, the company is also established as a 
benchmark in governance matters thanks to its sound corporate 
governance model and strict ethical and regulatory compliance. 
Therefore, despite a challenging context, the company continued to 
make progress with its value proposal for the investor in 2021, as 
well as with greater information transparency for the main indica-
tors required by the financial community.
Creation of value: the time for sustainable criteria
The importance of ESG criteria in the investor community is growing following the pandemic, thanks to 
the international consensus around the need for a sustainable and fair recovery for all. Initiatives such 
as the European taxonomy of sustainable finance lead the way, and Grupo Antolin is working to order 
its activities in accordance with this new classification system, in force from 2022, and thus make the 
business more attractive for those investors who are committed to sustainable projects.
Aware that business and purpose are, today more than ever, inseparable concepts, Grupo Antolin is 
making progress in some new ESG objectives (Planet, People, Business 
 ) through the strategic lines 
of its Sustainability Master Plan. One of these includes a prominent area of action involving the path 
towards sustainable financing, with actions aimed at contributing to the sustainability of the business, 
as well as at improving the way in which information on the main indicators demanded by the invest-
ment community is provided. 
In 2021, Grupo Antolin went one step further in this direction and for the first time incorporated ESG 
criteria into the syndicated loan renewal and extension process, which amounted to almost €400 
million, plus a revolving credit line of €200 million (see Good practice 
 ). Beyond this milestone, in 
the first half of the year the company completed a process of issuing long-term bonds in the capital 
markets for an amount of €390 million. The purpose behind raising this financing was to cancel the 
bonds maturing in 2024 and issue others with maturity in 2028. 
Both the issuance of the bond and the agreement with the banks add more flexibility to the company’s 
financial structure in the long-term and are proof of its sound financial position and its ability to imple-
ment an efficient financial management strategy.
In 2021, Grupo Antolin 
incorporated ESG criteria 
into the syndicated loan 
renewal and extension 
process for the first time

71
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
6. Stakeholders: At the center of everything
Good practice
ESG goals 
Included in the syndicated 
loan for the first time
Transparency-based relationship
In its senior management and in all business areas, Grupo Antolin 
undertakes to promote a rigorous and transparent flow of infor-
mation to its investors. Thanks to this model, the company can 
access financial capital more efficiently, boost the profitability of 
the business and better manage both its corporate reputation and 
the potential risks associated with its activity. 
To ensure this exchange of information and enhance its visibility in 
the financial area, Grupo Antolin has various communication chan-
nels and tools. See Relationship with stakeholders 
 .
Sustainability has become part of the new re-
financing agreement signed by Grupo Antolin 
with its lending banks in 2021. This agreement 
modifies the syndicated loan that the company 
had signed and extends its maturity until March 
2026. The refinancing includes a sustainability 
component through the incorporation of key 
performance indicators (KPIs) linked to envi-
ronmental, social and corporate governance 
criteria.
In this way, Grupo Antolin reaffirms its strong 
commitment to the European Green Deal and 
shows the active role it wants to play in the 
transition of the automotive industry toward a 
low-carbon economy, in the fight against climate 
change and in supporting the social and eco-
nomic development of the countries in which it 
operates.
MAIN STAKEHOLDERS 
INVOLVED
SDGs IMPACTED
Investors
Shareholders

72
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
6. Stakeholders: At the center of everything
6.2. 
Customers
Management approach 
Customer influence is absolutely key at Grupo 
Antolin. Their needs have always been at the heart 
of the company’s management, which treats them 
as if they were its own. Customers are its strategic 
partners with whom it works hand-in-hand, antic-
ipating their needs and developing new solutions 
and products that respond to the challenges of a 
constantly changing automotive sector.
This empathy towards its customers’ needs and 
the flexibility and speed with which it adapts to 
the pace that they set, have led Grupo Antolin 
to be recognized as one of the largest first-level 
suppliers (TIER1) of vehicle interiors. 
Customer satisfaction is a priority issue in its 
materiality analysis and, to guarantee this, Grupo 
Antolin focuses on: 
	❯
Ensuring a sustainable business model based 
on flexibility, the quality of its products and 
services, the most advanced technology and 
the most innovative design.
	❯
Promoting the decarbonization of production 
and energy efficiency in its operations and 
processes.
	❯
Offering 
solutions 
with 
materials 
of 
the 
highest 
quality, 
renewable 
and 
environmentally-friendly.
	❯
Committing to innovation and advanced 
technologies to adapt to the new mobility 
paradigm.
	❯
Guaranteeing responsible management of 
the supply chain.
The model for Grupo Antolin’s performance 
appraisal by its customers follows the recom-
mendations set out in the Global Automotive 
Sustainability Practical Guidance document within 
the framework of worldwide sector initiatives in 
terms of sustainability, such as Drive Sustainability, 
the Automotive Industry Action Group and the 
Carbon Disclosure Project (CDP).
Toward a greater positive impact
As part of the value chain, Grupo Antolin is working to enhance the positive impact of its business and to prevent and 
minimize the negatives, with some clear objectives: to help its customers meet their commitments derived from the 
transformation of mobility. In this context, in 2021 Antolin carried out a process of analysis and reflection on its relation-
ship with its customers to identify both strengths and opportunities to improve.
Together with the need to respond to the ESG needs of its customers, the One Client project analyzes the present and 
future requirements with an impact on the business. Based on the result of this work, Grupo Antolin has defined some 
lines of action as the basis for reviewing its relationships with its stakeholders. 
Grupo Antolin works hand-in-hand with 
its customers to anticipate their needs 
and develop new products and solutions 
for a constantly changing sector

73
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
6. Stakeholders: At the center of everything
Grupo Antolin’s customers
Grupo Antolin has the honor of being a fundamental partner of the world’s leading 
vehicle manufacturers. More than 80 brands from 44 automotive groups with which 
it collaborates tirelessly to guarantee the best experience for the end user.

74
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
6. Stakeholders: At the center of everything
Featured launches 
in 2021
The electric vehicle has arrived and will transform mo-
bility as we know it. Gone are the days when the elec-
tric car sounded like something from the future. They 
can now be seen every day on our roads and Grupo 
Antolin is also leading this revolution. As a company 
synonymous with innovation, for years it has worked 
with its customers to support their electrification strat-
egies, the decisive element of their plans for the future 
designed not only to continue growing, but to do so 
with the full satisfaction of meeting and even exceed-
ing the industry’s decarbonization targets.
Grupo Antolin’s solutions and products are already part 
of nearly 100 models –both in the production phase 
and in development– that use alternative technologies, 
from battery electric vehicles to plug-in hybrids, as well 
as those powered by solar energy.
For the electric vehicle, Grupo Antolin is developing a 
series of products that cover two essential needs of this 
type of vehicle: reducing weight and optimizing its heat 
and sound insulation. Examples of these new solutions 
are the double slush cockpit trims, which reduce the 
weight by up to 40%, and the reduced weight of the 
frame of panoramic overheads, as well as the ultra-light 
door modules.
There are many new 100% electric vehicles equipped 
by Grupo Antolin and the following is a sample of 
these.
*Grupo Antolin has created a smart new design for these plastic frames, incorporating a unique design aspect to achieve a 60% weight reduction compared to traditional 
design solutions on the market. In addition, the overhead has been produced with recycled materials and through a new bonding process that is completely sustainable 
as it does not involve solvents or generate dangerous emissions.
**FRUNK: front+trunk. With an innovative technology using infrared welding to assemble the cover of this storage area.
AUDI Q4 E-TRON
	
🡢Lighting consoles
	
🡢Assembly of door panels
BMW iX3 
	
🡢USA model: Modular headliner / sunvisors 
/ multipurpose lamps 
	
🡢Asia model: Modular headliner / sunvisors 
/ multipurpose lamps / pillar trim / 
ambient lighting
CUPRA Born
	
🡢Door panels
	
🡢Logistics services (overhead 
modularity and door panels)
	
🡢Reading lights 
FIAT 500e
	
🡢Modular headliner
	
🡢Lighting console
	
🡢Glovebox lamp
MERCEDES EQA 
	
🡢Asia model: Door panels / 
floor carpet
VOLKSWAGEN ID.4 
	
🡢Door panels
	
🡢Lighting consoles
	
🡢Logistics services for the modular headliner
	
🡢Exterior emblem (emblem with lighting 
for the model manufactured in China)
VOLVO C40 RECHARGE 
	
🡢Headliner substrate (100% panoramic overhead)
	
🡢Lightened plastic frame for the panoramic overhead*
	
🡢Sunvisors
	
🡢Handles
	
🡢Lower pillar trims
	
🡢Front trunk (frunk**) trim
Grupo Antolin accompanies 
its customers in their 
electrification strategies and 
its solutions can be found 
in nearly 100 models 
with alternative technologies

75
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
6. Stakeholders: At the center of everything
VW TAIGO
	
🡢Modular headliner
	
🡢Door panels
	
🡢Window Regulators
	
🡢Trunk trim
Likewise, we also find components developed by Grupo Antolin in combustion engine vehicles launched 
on to the market in 2021.
CUPRA FORMENTOR
	
🡢Door panels
	
🡢Window Regulators
KIA SORENTO
	
🡢Headliner substrate
	
🡢Sunvisors
NISSAN QASHQAI 
	
🡢Headliner substrate
	
🡢Sunvisors
	
🡢Lighting consoles
	
🡢License plate lamp
	
🡢Door panels (Russian model)
MARUTI-SUZUKI 
SWIFT DZIRE 
	
🡢Headliner substrate
MERCEDES GLE COUPE
	
🡢Modular headliner
	
🡢Boot trim
OPEL MOKKA 
	
🡢Headliner substrate
	
🡢Sunvisors
	
🡢Window regulators (plastic)   
SKODA KUSHAQ
	
🡢Door panels
	
🡢Headliner substrate
	
🡢Ambient lighting (instrument panel)
	
🡢Plastic seating parts
	
🡢Exterior wheel and wheel arch trims
Innovation and collaboration:  
always in plural
The best ideas always come from collaboration 
and shared interests. This premise drives Grupo 
Antolin to integrate its customers’ objectives 
from the very start, when the technological solu-
tion is just an idea in the R&D department, to the 
very end, when the final product is received by 
the vehicle manufacturer.
Along the way, the company challenges itself to live 
up to its customers’ expectations in terms of inno-
vation and sustainability. This means accepting that 
the needs of today will never be those of tomorrow, 
which is why anticipating the future is one of the 
unwavering commitments in its relationship with 
vehicle manufacturers. 
Something that is no less important is working 
side-by-side, and in the most literal way possible, 
to find solutions with added value for the vehicle 
interior. The result of this is the Grupo Antolin 
Tech Days, which in 2021 embraced the virtual 
format without losing their closeness and con-
nection with the customer. 
Over the past year, 19 Tech Days were held with 
customers, including, among others: 
	
🡢Virtual Tech Day with Ford Europe: presentation 
of the INSPIRE smart cockpit.
	
🡢Virtual Tech Days with Daimler: presentation of 
INSPIRE and the latest innovations in doors and 
instrument panels.
	
🡢Virtual Tech Day with Nissan United Kingdom 
and Japan: involvement of all the Business Units 
to showcase the innovations in electronics, 
integration and sustainable proposals.
	
🡢Stellantis, first face-to-face Tech Show in 
Europe: event dedicated to showcasing 
lighting, HMI, decorative and smart integration 
capacities.
	
🡢Virtual Tech Day with Suzuki: functionalities 
such as ambient and dynamic lighting and the 
integration of natural materials were presented.
Tech Day with Ford Europe.

76
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
6. Stakeholders: At the center of everything
THE LINK: 
the great digital showcase 
of Grupo Antolin
Grupo Antolin has spent years making great 
efforts to digitize its value chain. THE LINK is 
the company’s response to a new way of under-
standing the relationship with its customers in 
which flexibility, convenience and an efficient 
use of time prevail.
THE LINK is presented as a digital version of the 
traditional Tech Days: live and from anywhere 
on the planet, manufacturers can learn about 
the latest new developments in the company’s 
product range and discover more about its most 
innovative solutions.
Beyond the Tech Days, Grupo Antolin was also present at some of the leading 
international events in the automotive sector.
	❯
Shanghai Auto Show (see Good practice Business Model 
 ).
	❯
DVN Shanghai International Workshop.
	❯
Automotive Interiors Stuttgart (with the strategic partner Walter Pack).
	❯
Presentation of the application of ISELED (Intelligent Digital LEDs) in a 
European premium model at the 5th Anniversary of the ISELED Alliance.
	❯
ITB ‘Smart Automotive Surfaces’ Conference.
MAIN STAKEHOLDERS 
INVOLVED
Customers
SDGs IMPACTED
Good practice

77
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
6. Stakeholders: At the center of everything
6.3. 
People
Management approach 
People are the true engine of Grupo Antolin and the key to its 
success. Their strong involvement and commitment to their work 
creates a differential advantage that is reflected in the good results 
of the business. The feeling and pride of belonging to this family 
company mean that the employees work with a good team spirit 
and a great ability to adapt to the circumstances in the environ-
ment, however difficult they may be. 
Aware that talent is one of its main assets, Grupo Antolin not only 
pays attention to the specific features and regulatory framework 
of each country in which it operates, but also shows itself to be 
especially committed to the need for a fair transition in which the 
digital and technological transformation of the industry leaves 
nobody behind. A new paradigm that puts people at the center, 
which understands the new circumstances of professionals after 
the pandemic and incorporates all dimensions of health, including 
mental and emotional well-being, into the relationship between 
the company and its teams.
For the development of a sustainable business model in its ‘Value 
of People’ axis, the company has established some targets to guar-
antee a safe and healthy working environment and the application 
to talent management of the principles of diversity, equality and 
inclusion. A road map that goes back to what forms the starting 
point for every business, the people, and place them where they 
should always be, in a preferential position.
People 
OBJECTIVES 
‘The value of people’
Diversity, equality and inclusion, 
applied to talent
	❯
Diversity and inclusion focused on 
knowledge, values, skills and 
experiences.
	
❯Specific plans in the tangible di-
mensions of diversity: gender, disabili-
ty, age, race, culture and professional 
profile.
	❯
Increased promotion of women to 
managerial levels.
Zero accidents:  
a safe and healthy 
working environment
	
❯<2.30 reduction in the global 
frequency index*.
	❯
Reinforcing the commitment to the 
health and safety culture.
A new road map
The COVID-19 crisis has accelerated the changes that had been taking place for some time with-
in organizations in a push to make processes and decision-making faster and more streamlined. 
Grupo Antolin is promoting a change in culture based on inclusive leadership, talent and the experience 
of people. All of this is always strictly in keeping with the principles and values that distinguish the 
company today and will continue to do so tomorrow.
In this regard, the new Strategic Human Resources and Organizational Plan, approved in 2021, will 
guide Grupo Antolin in the coming years, enhancing the best of its legacy and favoring an evolution in 
aspects related to leadership, talent management and agility.
Strategic pillars of the Human Resources Plan
PURPOSE AND CULTURE
as a 
hallmark
HIGH PERFORMANCE 
ORGANIZATION
as a way of working 
and managing
GLOBAL TALENT
tool for differentiation 
and competitiveness
FLEXIBILITY
to adapt to 
the constant changes
STRATEGIC PLAN  
on Human Resources 
and Organization
*Work-related accidents and occupational diseases with 
sick leave/no. of hours worked x 1,000,000

78
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
6. Stakeholders: At the center of everything
Policies and processes in people management
Internal reference framework
	
🡢Vision and Values. People Value.
	
🡢Code of Ethics and Conduct.
	
🡢Corporate Social Responsibility Policy.
	
🡢Sustainable Business Model.
	
🡢Strategic Human Resources and Organization Plan.
	
🡢Sustainability Master Plan.
	
🡢Diversity policy and equal opportunities principle.
	
🡢Protocol for preventing gender-based workplace harass-
ment and violence at work.
	
🡢Occupational health and safety policy.
	
🡢Geographic mobility policy.
	
🡢People management model.
	
🡢Knowledge management model.
Distribution by gender
Profile of the workforce 
As of December 31, 2021, Grupo Antolin’s team was made up of close to 25,000 professionals, distributed geographically 
across 26 countries. 
9 out of every 10 
Grupo Antolin 
employees have 
a permanent contract
Women
37%
9,228
Men
63%
15,657
External reference framework
	
🡢United Nations Universal Declaration of Human Rights.
	
🡢	Agenda 2030: Sustainable development goals 3, 4, 5, 8, 10, 
16 and 17.
	
🡢	Guidelines and principles of the International Labor 
Organization (ILO).
	
🡢United Nations Global Compact. Principles 3.4, 5 and 6.
	
🡢Diversity Charter.
	
🡢	European Mobility Charter.
	
🡢	Occupational Health and Safety System Standard 
OHSAS 18001:2007 and ISO 45001.
	
🡢	Local and national legislation and regulations, agreements, 
pacts and/or those deriving from local, regional, sectoral 
and international collective bargaining.
Permanent
Temporary
Distribution by contract type*
TOTAL
TOTAL
2.23%
97.77%
MEN
WOMEN
8,927
137
404
14,758
*According to staff figures at the end of 2021.  
Does not include companies accounted for using the equity method.

79
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
6. Stakeholders: At the center of everything
Distribution by age*
Geographical distribution (in number of people)*
Germany
Argentina
Austria
Brazil
China
Korea
Slovakia
Spain
United States
France
Hungary
India
Italy
Japan
Morocco
Mexico
Poland
Portugal
United Kingdom
Czech Republic
Romania
Russia
South Africa
Thailand
Turkey
Vietnam
807 
163 
305 
164
803 
2,110 
1,197 
267
256
3,759
261
11
111
10
861
298
911
3,324
2,514 
998 
5
2,858 
516 
494 
126
1,756 
Distribution by type of labor*
< 25
Direct
Between 25 and 40
Indirect
TOTAL
TOTAL
TOTAL
TOTAL
TOTAL
TOTAL
46.76%
30.44%
47.07%
15.39%
6.17%
54.17%
555
6,226
3,973
1,545
940
6,896
7,354
5,830
> 40
Overheads
4,536
1,293
6,868
2,436
MEN
MEN
WOMEN
WOMEN
Direct labor: works directly in the production processes / Indirect labor: provides 
support or performs tasks in the production activity, but does not participate 
directly in the production process / Overhead labor: works in the corporate 
departments.
*According to staff figures at the end of 2021. 
Does not include companies accounted for by the equity method.
*According to staff figures at the end of 2021. 
Does not include companies accounted for by the equity method.
*Data on the geographic distribution of the workforce 
at the close of 2021 are provided based on the financial 
consolidation reporting perimeter. The scope of the data 
reported includes all the plants in which Grupo Antolin has 
a stake, including those companies accounted for by the 
equity method.

80
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
6. Stakeholders: At the center of everything
To anticipate the mobility of the future and meet the demands of its stakeholders, Grupo Antolin is commit-
ted to employing diverse and highly qualified talent. 
1,448 
professionals with an 
engineering profile 
worldwide, 385 in Spain
Technology jobs
48% 
of the workforce in 
Spain linked to the 
technology field
1,567 
professionals 
in technology-related 
jobs
Health, safety and well-being: 
protecting our most 
precious asset
The impact of the pandemic has led to occupa-
tional health and safety playing a fundamental 
role in the business strategy and being an area of 
special importance for stakeholders. Now, more 
than ever, the well-being of the employees has a 
direct impact on the company’s competitiveness 
and profitability, as well as on attracting and re-
taining talent. 
In particular, in 2021, in addition to continuing 
to work on strict compliance with the protocol 
to prevent infections in successive waves and 
promote the vaccination of its professionals. 
Grupo Antolin has responded to society’s grow-
ing awareness of the importance of mental 
health and has integrated it as another element 
in talent management. People are the engine 
that makes Antolin work and their care must be 
comprehensive. 
Approach and commitments
The sustainable business model and Strategic 
Human Resources Plan are the guides for safe-
guarding the health, safety and well-being of 
professionals in their work through two major 
areas of action: 
ZERO ACCIDENTS 
Creating a safe and healthy working environment 
with the aim of achieving zero accidents thanks to 
a gradual reduction in accident rates, in terms of 
frequency and severity.
UNIVERSALIZING THE VALUES OF 
HEALTH AND SAFETY 
Strengthening compliance with Grupo Antolin’s 
commitments in all regions in which it operates. 
	❯
Grupo Antolin’s Health and Safety Policy 
 
	❯
Implementation 
of 
the 
Occupational 
Health and Safety System, based on the 
ISO 45001:2018 standard, at its work centers. 
Eight new certificates were obtained in 2021, 
meaning that at the close of the year the 
company had 52 certificates for work centers 
around the world, which is equivalent to 60% 
of the workforce.
Cultural diversity: more than 
112 nationalities and 40 languages 
represented in the workforce

81
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
6. Stakeholders: At the center of everything
2020
2021
OHSAS 18001/ISO 45001 Certificates
41
52
Workforce covered by the OHSAS 18001/ISO 45001 Certificate
49
60
Work-related accidents and occupational diseases with sick leave
176
187
Fatal accidents
0
0
Frequency Rate (Work-related accidents and occupational 
diseases with sick leave/no. of hours worked) x 1,000,000
3.66
3.57
Severity Rate (Number of days lost due to work-related accidents 
and occupational disease/hours worked) x 1,000
0.25
0.21
Progress in safety
In 2021, the downward trend in accidents continued: a 2.46% reduction in the Frequency Rate and 
a 16% reduction in the Severity Rate compared to 2020. These figures are the result of improvements 
in the recording, investigation and monitoring of occupational incidents and diseases, the sharing 
of lessons learned after occupational accidents and the reinforcement of training in and awareness of 
safety procedures and the use of Personal Protective Equipment. 
Diversity, equality and inclusion: differences enrich us 
Grupo Antolin understands diversity as a competitive advantage and also as a natural process of 
adapting to an increasingly enriched society and environment. The company’s strategy in diversity, 
equality and inclusion constitutes an important lever for attracting and retaining talent: the greater 
the variety of profiles, the larger the range of different ideas and approaches for successfully address-
ing the challenges of the sector. 
Grupo Antolin’s management is deeply committed to this strategy of respect and promotion of di-
versity and this translates into specific plans that address diversity in its most tangible dimensions: 
functional capacity, age, gender, race, sexual orientation, social and cultural origin and professional 
profile. These plans are always adapted to the social reality of the regions in which it operates. 
Principle of non-discrimination
Non-discrimination is one of the principles con-
tained in Grupo Antolin’s Code of Ethics and 
Conduct, which governs the company’s behavior 
in all its activities. This principle not only translates 
directly to equal treatment and opportunities, but 
also applies to staff selection processes. 
In this regard, the principles of merit and ability 
are applied under identical conditions for anyone 
wishing to form part of the company, which is 
guaranteed with initiatives such as the progressive 
implementation of the blind CV or the use of a 
neutral and inclusive language in all phases of the 
processes.

82
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
6. Stakeholders: At the center of everything
Gender equality
Grupo Antolin works to achieve real equality 
between men and women in the workplace 
through the promotion of inclusive leadership, 
the training and awareness of all teams and a 
balance between personal and professional life. 
With this objective, the company is making 
steady progress in progressively increasing the 
number of women in management positions. In 
2021, female representation in the Management 
Committee has increased following the ap-
pointment of the new Organization and Human 
Resources Director. 
Moreover, the Advisory Board has been a gen-
der-equal body since 2020, thanks to the inclu-
sion of diversity and equal opportunities criteria 
as part of the selection processes for members 
linked to the company’s governing bodies.
Included among the initiatives applied or promot-
ed by Grupo Antolin in 2021 are the following: 
	❯
The review of the equality plans and their ad-
aptation to regulatory demands in relation to 
salary recording and remuneration audits.
	❯
The development of a mandatory training 
program for the entire workforce on the an-
ti-harassment policy and the protocol for pre-
venting gender-based workplace harassment 
and violence at work.
	❯
The participation of employees in different 
training programs focused on the development 
of skills and technical development for execu-
tive management. 
Training and development to 
make the difference
The new ways of working, which are more 
streamlined, flexible and collaborative, typical 
of the digitalization process being experienced 
by the sector, had already begun in the automo-
tive sector before the outbreak of the pandemic. 
From 2020, the pace has picked up relentlessly. 
Companies have had to reinvent themselves, 
both to respond to the new demands of consum-
ers and to guarantee a fair transition for their 
employees to the new paradigm, who they sup-
port by helping them adapt their skills profiles. 
Grupo Antolin has made a significant effort to 
prepare its teams to respond to these new stake-
holder demands and expectations. Training in 
new technologies to optimize the performance 
of workers (upskilling), together with the expan-
sion and development of their knowledge in line 
with the objectives set for their adaptation to 
the new requirements of the position (reskilling), 
are some of the strategic lines defined by Grupo 
Antolin to improve the company’s competitive-
ness and retain talent. 
Some of the most noteworthy initiatives related 
to Grupo Antolin’s training activity in 2021 were: 
 
	❯
The UET Leader pilot project that offers com-
prehensive training for team management. 
See Good practice 
 
	❯
Participation in the Upskilling4future project, 
led in Spain by Forética in partnership with JP 
Morgan and CSR Europe, in order to undertake 
a greater analysis of the needs required by the 
new professions and skills in each sector. 
The Mobility Grid: Short-term mobility opportu-
nities for all industrial roles program was includ-
ed in CSR Europe’s report on ‘The Best Practices 
Booklet on Workforce Transition’ to illustrate 
how the transformation of human resources can 
support the employability of vulnerable workers.
The company also sees training as a strategic le-
ver to adapt supply to the demand for profession-
al profiles required by the new mobility. With this 
belief, Grupo Antolin is promoting Dual Training 
programs in different countries, as well as agree-
ments with universities to strengthen the training 
paths that help students find employment when 
they finish their academic studies.
Diversity of profiles
Grupo Antolin encourages the integration of 
people with different abilities into its teams, 
whether in its own workforce or through col-
laboration with special employment centers. 
The company also measures the inclusion of 
other circumstances, beyond disability, which in 
certain regions can pose a barrier to a person’s 
employability. 
The incorporation of cultural differences is im-
perative for an organization that aspires to be as 
diverse as the environments in which it operates. 
A good example of this is the People First Diversity 
& Inclusion Team project. Launched in the United 
States, it seeks to generate awareness about how 
these differences can deeply affect people in an 
organization; to motivate participants to rethink 
their behavior towards others and identify diversi-
ty problems within the organization that need to 
be addressed. 
In South Africa, the company’s centers support 
public policies to facilitate the participation of 
the black race and remedy the inequalities creat-
ed by apartheid with the creation of ‘Employment 
Equality Committees’. The objective of these com-
mittees is to ensure equality in all aspects linked 
to the employee experience.
Grupo Antolin works to achieve real equality 
between men and women through the promotion of 
inclusive leadership, training and awareness 
of all teams

83
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
6. Stakeholders: At the center of everything
941,510 training hours 
in 2021, 37.83 
per employee
Key technological boost
Grupo Antolin promotes the exchange of internal knowledge in differ-
ent disciplines, through experts, leaders, knowledge communities and 
partnerships with key technological centers and entities. In 2021, the ex-
change between experts in lighting and electronics, two key areas in the 
company’s current strategy, was noteworthy.
The acquisition of the knowledge necessary for the design of disruptive 
technological solutions, the introduction of tools such as PLM (Product 
Lifecycle Management) for project management and the Agile meth-
odology for technologies related to Industry 4.0 have guided the train-
ing activity in the technical area.
Also in the digital area, it is worth highlighting the commitment of 
Human Resources to a new approach, based on artificial intelligence 
and predictive models based on data, to design training and perfor-
mance appraisal paths tailored to the particular interests of each gen-
eration of professionals. 
Management, retention and 
attraction of talent
The organization’s success is increasingly found-
ed on the race to attract differential talent. 
Aware of this decisive competitive lever, in 2021 
the Human Resources Department continued to 
recruit professionals with new technological and 
digital profiles as a strategic line of work.
In this search for talent, Grupo Antolin is seek-
ing the best professionals and the best people. 
Therefore, accompanied by a firm commitment 
to the team and the aim to contribute to a more 
prosperous future, the company prioritizes the 
attraction of talent in keeping with its values, as 
well as focusing on knowledge and experience. 
Antolin offers its employees an innovative and 
stimulating environment where they can learn 
and grow hand-in-hand with the best profession-
als; an environment in which their contribution 
is not only recognized but also nurtured and 
protected, as the company’s most valuable asset 
rightly deserves. This value proposal is greatly 
A great place to work
Efforts to attract and retain talent, and their materialization into specific plans and actions, 
are paying off. In 2021, Grupo Antolin reached first position in the industrial category of 
the prestigious Merco Talento (Merco Talent) ranking. This recognition is in addition to the 
Merco Empresas (Merco Companies) Ranking as the industrial company with the best repu-
tation in Spain and among the 100 companies with the strongest reputation.
appreciated by its stakeholders and establishes, 
together with its commitment to innovation and 
tireless pursuit of excellence, its strong reputa-
tion in the sector. 
Grupo Antolin also continues to evolve its organiza-
tional model towards more streamlined structures 
that promote responsible leadership, employee au-
tonomy and the self-motivation of all professionals 
regardless of their level. 
At this point, the review of the current perfor-
mance model is of particular importance in 
order to achieve an integrated vision of the em-
ployee experience: greater visibility of learning, 
promotion and professional development op-
portunities, and better communication –always 
360°– between Grupo Antolin and its people. The 
objective is to consolidate relationships based 
on dialog and active listening to create a more 
cohesive organization around a common project.

84
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
6. Stakeholders: At the center of everything
Germany
Argentina
Austria
Brazil
China
South Korea
Slovakia
Spain
United States
France
Hungary
India
Italy
Japan
Morocco
Mexico
Poland
Portugal
United Kingdom
Czech Republic
Romania
Russia
South Africa
Thailand
Turkey
Vietnam
Labor relations
Grupo Antolin recognizes and defends the free-
dom of association and the effective recognition 
of the right of all employees to collective bargain-
ing in those countries where it operates. 
Convinced of the importance of creating the 
right spaces and moments to facilitate good 
communication between workers and unions 
and/or their representatives, Grupo Antolin has 
created specific channels for this. Moreover, all 
the company’s workers have access to a direct 
participation channel through meetings between 
the management and the workforce, as well as 
other channels recognized in the different col-
lective agreements. 
Those Grupo Antolin companies that do not ad-
here to a collective bargaining agreement, pact 
or instrument are always covered by the labor 
legislation in force in each country. 
Of the total workforce covered 
by the labor legislation of 
each country, 69% are covered 
by a collective agreement
XX
Good practice
Collective agreement
Labor legislation
Fair transition
Training for the 
leadership of teams
As part of its commitment to employability and 
a fair transition, Grupo Antolin launched the 
UET Leader project. The program seeks to pro-
vide comprehensive training to the UET Leader 
(Unidad Elemental de Trabajo – Basic Work Unit), 
so that they can manage teams with excellence, 
through a training plan in technical skills and 
competencies. The UET Leader is a key position 
as they are responsible for leading the factory 
operators, therefore it is essential that they are 
given the knowledge necessary to understand 
their work in all its dimensions. The ultimate goal 
is to improve the development of the products in 
terms of time, quality and cost.
Offering a very dynamic and digital format, the 
training program focuses on the knowledge that 
a leader must have in terms of processes, tech-
nology and security, as well as training in man-
agement and leadership skills. 
The project, developed as part of the 
Upskilling4future program by CSR Europe 
and JP Morgan, began with some plants in the 
United States and will be extended to the other 
centers in this region before being rolled out to 
other countries at a later stage.
MAIN STAKEHOLDERS 
INVOLVED
SDGs IMPACTED
People
79% 
21%
100%
6%
94%
19%
81% 
100%
100%
100%
100%
100%
100%
100%
100%
61%
39%
57%
100%
100%
100% 
100% 
100%
100%
100%
100%
100%
43% 
91%
9%
100%
100%

85
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
6. Stakeholders: At the center of everything
6.4. 
Supply chain
Management approach 
In 2021, Grupo Antolin once again demonstrated 
its enormous capacity for resilience in one of the 
most complex moments in recent history. The 
effects of the pandemic led to sharp increases in 
the price of raw materials, a shortage of semi-
conductors and mobility restrictions on people 
and goods. To deal with this problem, Antolin was 
capable of intelligently and quickly adapting the 
management of its supply chain. 
The company opted for the centralized manage-
ment of procurement policies and processes and 
relied on another key factor: the global presence 
of teams with a local focus on the ground. No less 
important was the ability to turn challenges in 
the procurement processes into an opportunity 
to speed up the digital transformation processes 
that had already begun in previous years. In this 
regard, work has been done to transform the 
procurement function and create new initiatives 
that will add value in the coming years. Antolin 
has been following this path for some time with 
the commitment to strengthen, with everyone’s 
efforts, a sustainable and environmentally-friend-
ly supply chain.
Responsible 
supply chain 
management system 
at Grupo Antolin
Sustainable supply chain 
Grupo Antolin extends its sustainable development commitment to the entire sup-
ply chain. It applies responsibility criteria to the purchases it makes and monitors 
ESG risks both in its suppliers and their collaborators. Among these, respect for 
Human Rights and the detection of possible cases of these being breached are an 
absolute priority for the company. 
Grupo Antolin’s relationship with its supply chain is built on a sustainable man-
agement system, a robust and effective framework that is underpinned by various 
instruments.
SUPPLIER MANUAL
This ensures that suppliers meet the standards required by Grupo Antolin. 
Acceptance of the document is binding to be classified as ‘active’ in the company’s 
Panel of Suppliers and have the opportunity to be chosen to provide future projects. 
CODE OF CONDUCT FOR SUPPLIERS 
Its approval and application are mandatory for all Grupo Antolin’s suppliers and for 
their suppliers. 
BUY ONE PORTAL
Web space designed to guarantee access for the supply chain to the sustainability 
requirements. 
SUPPLIER NEWSLETTER
Launched in 2021 to report on the latest Grupo Antolin new developments and 
expectations regarding its supply chain.
SELF-ASSESSMENT TOOL
Based on the questionnaire answered by the supplier itself, its performance is 
assessed in the main dimensions of sustainability: working conditions and Human 
Rights, business ethics, anti-corruption and bribery and the environment, among 
others. From these results, Grupo Antolin can identify the global ESG risks in its 
supply chain, as well as those specific to the collaborators and partners of each 
supplier.
OECD DUE DILIGENCE FOR MINERAL SUPPLY CHAINS IN CONFLICT-AFFECTED 
AND HIGH RISK AREAS
Fundamental guide for monitoring the entire chain and for updating Grupo Antolin’s 
Conflict Minerals Policy 
 .
ROAD MAP FOR THE SUSTAINABLE SUPPLY CHAIN
Approved and communicated to suppliers in 2021, it describes the specific objectives 
that Grupo Antolin has for its suppliers from the Environmental, Social and 
Governance perspectives.
2020
2021
No. of direct material suppliers with a relevant impact 
on environmental, social and governance (ESG) matters
483
453
No. of direct material suppliers assessed 
on their ESG performance 
1,466
1,657
Percentage of direct material suppliers 
assessed on ESG 
52%
59%
No. of panel suppliers with an ESG self-assessment 
questionnaire completed in the last 3 years
1,466
1,829
No. of suppliers with a result from the self-assessment 
questionnaire considered ‘High Risk’
170
279
Percentage of direct material suppliers that 
have accepted the Supplier Code of Ethics
67%
78%
Percentage of investment suppliers that have accepted 
the Supplier Code of Ethics
67%
87%

86
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
6. Stakeholders: At the center of everything
Grupo Antolin is fully aware that the development of a responsible business involves sharing this am-
bition with all its suppliers so that its entire supply chain is aligned with the company’s expectations in 
terms of sustainability.
Therefore, in the framework of the company’s new environmental, social and governance objectives, 
in 2021 some requirements have been established in the most critical aspects of the responsible man-
agement of the supply chain, such as reducing the environmental footprint, transition to the circular 
economy and responsible business management. 
Human Rights, 
an absolute priority
Grupo Antolin maintains a zero tolerance policy 
to the violation of Human Rights in its supply 
chain. 
Grupo Antolin undertakes to apply the processes 
and mechanisms that allow it to prevent situa-
tions linked to slavery and human trafficking in its 
operations and its supply chain, regardless of the 
activity, size or geographic area in which it oper-
ates, through the annual signing of the Modern 
Slavery and Human Trafficking Statement, ap-
proved by the Board of Directors in 2021.
The company extends its commitment to Human 
Rights to the acquisition of certain raw materials 
and, to this end, has a Conflict Minerals Policy, 
whereby it only collaborates with companies 
that share its respect for Human Rights, business 
ethics, fair working conditions and environmen-
tal responsibility. 
At a time when international regulations are 
making steady progress, the future European 
Due Diligence Directive and the German Law 
on due diligence in the supply chain being clear 
examples, it is important to highlight the path 
taken by Grupo Antolin in this matter. Always 
with an eye on continuous improvement, the 
company follows the guidelines set by the 
OECD’s Due Diligence for mineral supply chains 
in conflict-affected and high risk areas:
	
✓Keeping the Conflict Minerals Policy up-to-
date and accessible to the public.
	
✓Appointing a specific multicultural and mul-
tidisciplinary work team on conflict minerals.
	
✓Being aware of and assessing the risks of the 
supply chain, as well as developing a system 
that offers a quick response to potential risks.
	
✓Identifying the suppliers that supply Grupo 
Antolin with the main conflict minerals (tung-
sten, tantalum, tin and gold) and applying the 
mechanisms to find out whether they comply 
with the OECD requirements.
	
✓Being a member company of the Responsible 
Minerals Initiative, a partnership for promot-
ing the intersectoral work of the Responsible 
Minerals Assurance Process.
Grupo Antolin has a 
Conflict Minerals Policy, 
whereby it only collaborates 
with companies that share 
its respect for Human Rights
Business 
OBJECTIVES 
in the supply chain
Responsible Business
	❯
100% adherence to the Supplier Code of 
Conduct.
	❯
100% of direct material suppliers assessed in 
ESG matters.
	❯
100% compliance with the responsible supply of 
conflict minerals.
Extension to 
their own suppliers
	❯
To be recognized as a responsible business.
	❯
To be carbon neutral.
	❯
To be a circular business.
	❯
To extend the commitments and objectives to 
its supply chain: achieving zero net emissions 
throughout the entire supply chain by 2050 at 
the very latest.

87
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
6. Stakeholders: At the center of everything
MAIN STAKEHOLDERS 
INVOLVED
SDGs IMPACTED
Good practice
In 2021, Volvo Cars, one of Grupo Antolin’s cus-
tomers, in collaboration with Kumi Consulting, 
wanted to discover the degree of compliance 
and transparency of the company and its supply 
chain with regard to its management of conflict 
minerals through an audit based on the OECD’s 
‘Conflict Minerals Guide’.
Customer satisfaction with Grupo Antolin’s infor-
mation protocol regarding conflict minerals has 
not only increased Volvo Cars’ confidence, but 
also drives the company to keep working for the 
continuous identification, risk assessment and 
correct management of this matter in continu-
ous collaboration with its suppliers. The result: 
one step further in consolidating a responsible 
and sustainable value chain.
In 2021, 98% of the 157 suppliers identified as suppliers of products with 
conflict minerals correctly submitted their Conflict Mineral Reporting 
Template. Of the 328 mineral foundries in the supply chain, 254 are eligi-
ble and 59 are being audited to determine whether or not they are eligible, 
therefore, according to the criteria of the Responsible Minerals Initiative 
(RMI), 95% are eligible as collaborators, while 17 entities (5%) do not meet 
these criteria.
Always with the desire to raise its demand in a matter that is crucial for 
the company, in 2021, Grupo Antolin started to monitor the supply chain 
of another mineral: cobalt. It thus seeks to raise awareness in the supply 
chain about the need to provide information about this mineral. It also 
wanted to create an initial starting point so that it could set goals for the 
coming years. The first of these was to obtain at least a 60% response rate 
among the total of 166 suppliers identified as suppliers of cobalt-con-
taining products. The goal was widely exceeded as this information was 
received from 68% of suppliers. 
Compliance 
and transparency
Grupo Antolin’s management of 
conflict minerals
Supply chain
Customers
Society
2020
2021
Total no. of active first-tier suppliers
3,448
3,383
Total no. of active direct material 
first-tier suppliers
2,830
2,792
Total purchase volume from 
first-tier suppliers (€’000)
2,050,000
2,060,000
Purchase volume from direct material 
first-tier suppliers (€’000)
1,927,000
1,937,000
Purchase volume from 
local suppliers (€’000)
1,177,000
1,000,198
Percentage of suppliers of products 
containing conflict materials with 
declaration/certification of origin/
compliance
98%
98%

07
Appendix
7.1. Economic efficiency
7.2. Sustainability balance sheet
7.3. Indicators
7.4. About this report

89
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
7. Appendix
22.5%
20%
10.2%
11.4%
8.1%
8.7%
4.8%
3.2%
3.5%
2.9%
4.5%
Consolidated sales
2021
7.1. 
Economic efficiency
Grupo Antolin in figures
Millions of euros
In percentage
% of sales
% of sales
Consolidated sales
TOTAL 2021
€4,055.35M
TOTAL 2021
€4,055.35M
Consolidated 
EBITDA
Consolidated 
EBIT
Profit attributable 
to Grupo Antolin
Investment
(Tangible and Intangible)
Net equity
(Equity + External Partners)
6.8%
-0.6%
7%
0.05%
3,974.5
272.1
4,055.4
281.8
-143.9
177.8
577.6
-25.6
1.9
-84.3
217.1
540.4
Consolidated sales by customer
Sales by region
Sales by business
VOLKSWAGEN GROUP
STELLANTIS GROUP
FORD MOTOR
BMW GROUP
TATA GROUP
DAIMLER
RENAULT-NISSAN
OTHER
JAPANESE CUSTOMERS
GEELY GROUP
HYUNDAI-KIA
Spain
3.9%
Rest of Europe
45.2%
North America
32.9%
South America
1.5%
Asia-Pacific
14.6%
Africa
1.8%
2020
2021
Overheads & Trunk Trim
37.5%
Doors & Hard Trim
38.5%
Lighting
7.2%
Cockpits & consoles
16.6%
Other
0.2%
Consolidated 
average workforce 
(In number)
26,671
25,023
TOTAL 2021
€4,055.35M
In percentage
In percentage
2021 figures prepared in accordance with International Financial Reporting Standards (IFRS-EU), applying IFRS 16.

90
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
7. Appendix
Ratios
In € million
2020
2021
FINANCIAL
Financial Leverage (Net Financial Debt / Equity)
1.54
1.52
Borrowing (Net Financial Debt / EBITDA)
3.92
3.51
Interest Charges Coverage (EBITDA / Net Financial Expenses)
6.36
6.46
ECONOMIC
R.O.E. (Earning after taxes / Shareholders’ Equity + Minority Interests - P&L 
of the Year)
-18.58%
-11.44%
R.O.A. (Operating Result / 2 years Average Total Assets)
-0.72%
0.06%
R.O.I. (Operating Result / 2 years Average Capital Expenditure)
-1.15%
0.09%
Balance sheet
In € million
2020
2021
ASSETS
 
Goodwill
90.05
90.05
Non-current assets
1,511.13
1,520.91
Current assets
1,774.56
1,652.60
Total Assets
3,375.73
3,263.56
EQUITY AND LIABILITIES
Net equity
577.59
540.37
Non-current liabilities
1,517.40
1,540.88
Current liabilities
1,280.74
1,182.31
Total Equity and Liabilities
3,375.73
3,263.56
Income statement
In € million
2020
%
2021
%
Net turnover
3,974.53
100%
4,055.35
100%
Other operating income
87.71
2.2%
129.45
3.2%
Total Operating Income
4,062.24
4,184.80
Supplies
-2,579.62
-64.9%
-2,668.00
-65.8%
Staff costs
-815.95
-20.5%
-828.52
-20.4%
Depreciation and amortization expenses
-297.69
-7.5%
-279.93
-6.9%
Change in trade provisions
-0.15
-0.0%
-0.02
-0.0%
Other operating expenses
-481.87
-12.1%
-498.20
-12.3%
– Own work capitalized
87.41
2.2%
91.79
2.3%
PROFIT FOR THE YEAR FROM CONTINUING 
OPERATIONS
-25.63
-0.6%
1.91
0.0%
Financial income and expense
-53.77
-1.4%
-46.76
-1.2%
Net impairment losses 
on non-current assets
-36.91
-0.9%
-19.71
-0.5%
Gain / Loss on disposal 
of non-current assets and others
-9.38
-0.2%
0.87
0.0%
Profit of companies accounted 
for using the equity method
1.48
0.0%
2.36
0.1%
PROFIT BEFORE TAX
-124.20
-3.1%
-61.32
-1.5%
Corporation income tax
-7.58
-0.2%
-8.47
-0.2%
NET PROFIT FOR THE YEAR FROM 
CONTINUING OPERATIONS
-131.78
-3.3%
-69.79
-1.7%
Profit after tax for the year from discontinued 
operations
0.0%
0.0%

91
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
7. Appendix
Income statement
In € million
2020
%
2021
%
CONSOLIDATED PROFIT FOR THE YEAR
-131.78
-3.3%
-69.79
-1.7%
PROFIT ATTRIBUTABLE TO 
NON-CONTROLLING INTERESTS
-12.16
-0.3%
-14.53
-0.4%
PROFIT ATTRIBUTABLE TO 
THE PARENT COMPANY
-143.95
-3.6%
-84.31
-2.1%
CASH FLOW 
(Consolidated Profit + Depreciation)
165.91
4.2%
210.15
5.2%
EBITDA
272.06
6.8%
281.85
7.0%
EBITDA without IFRS16 impact
200.32
5.0%
213.53
5.3%
Consolidated sales by customer
In € million
2020
%
2021
%
VOLKSWAGEN GROUP
880.25
22.1%
912.12
22.5%
STELLANTIS GROUP
864.42
21.7%
810.62
20.0%
BMW GROUP 
429.53
10.8%
415.62
10.2%
FORD MOTOR
405.97
10.2%
463.47
11.4%
DAIMLER 
322.01
8.1%
330.14
8.1%
TATA GROUP 
303.17
7.6%
354.76
8.7%
RENAULT-NISSAN 
217.07
5.5%
195.85
4.8%
GEELY GROUP
133.76
3.4%
129.80
3.2%
JAPANESE CUSTOMERS (Toyota, Honda, Suzuki)
120.78
3.0%
143.32
3.5%
HYUNDAI-KIA
95.48
2.4%
116.13
2.9%
OTHER (Various and associated companies)
202.08
5.1%
183.51
4.5%
CONSOLIDATED SALES
3,974.53
100%
4,055.35
100%
Cash flow statements
In € million
2020
2021
CASH OR CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR
273.66
401.74
CASH FLOWS FROM ORDINARY OPERATING ACTIVITIES
396.58
373.44
Consolidated profit before taxes
-124.20
-61.32
Adjustments
410.34
363.14
Changes in working capital
114.81
85.46
Corporate income tax paid
-4.36
-13.85
CASH FLOWS FROM INVESTING ACTIVITIES
-177.56
-190.38
Dividends received
0.32
0.51
Disposals
6.72
29.61
Tangible and intangible investments
-177.80
-217.11
Other investments 
-6.80
-3.39
CASH FLOWS FROM FINANCING ACTIVITIES
-90.95
-144.03
NET VARIATION IN CASH OR CASH EQUIVALENTS 
FROM CONTINUING OPERATIONS
128.08
39.02
NET VARIATION IN CASH OR CASH EQUIVALENTS 
FROM DISCONTINUED OPERATIONS
CASH OR CASH EQUIVALENTS AT THE END OF THE YEAR
401.74
440.76

92
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
7. Appendix
Consolidated sales by region
By production country / In millions of euro
2020
%
2021
%
Spain
178.46
4.5%
159.56
3.9%
Rest of Europe
1,827.23
46.0%
1,833.98
45.2%
North America
1,368.11
34.4%
1,336.11
32.9%
South America
42.86
1.1%
59.48
1.5%
Asia-Pacific
507.15
12.8%
593.48
14.6%
Africa
50.72
1.3%
72.75
1.8%
TOTAL
3,974.53
100%
4,055.35
100%
Sales by business
In € million
2020
%
2021
%
Overheads & Trunk Trim
1,477.94
37.2%
1,520.99
37.5%
Doors & Hard Trim
1,533.29
38.6%
1,559.57
38.5%
Lighting
288.57
7.3%
290.74
7.2%
Cockpits & consoles
668.21
16.8%
675.13
16.6%
Other
6.52
0.2%
8.94
0.2%
TOTAL
3,974.53
100%
4,055.35
100%
R&D+i effort
In € million
2020
2021
SPENDING ON PROJECTS
116.25
123.48
Central sections
36.08
41.69
Peripheral sections
80.17
81.79
TANGIBLE INVESTMENTS
2.19
1.74
TOTAL R&D+i EFFORT
118.44
125.22
In 2021, Grupo Antolin’s R&D and innovation effort represents 3.09% of consolidated sales
Staff
In € million
2020
%
2021
%
Spain
2,342
8.8%
2,267
9.1%
Rest of Europe
10,972
41.1%
10,328
41.3%
North America
8,514
31.9%
7,455
29.8%
South America
798
3.0%
691
2.8%
Asia-Pacific
3,493
13.1%
3,696
14.8%
Africa
552
2.1%
586
2.3%
TOTAL
26,671
100%
25,023
100%

93
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
7. Appendix
7.2. 
Sustainability balance sheet
Intellectual capital
2020
2021
Investment in R&D+i (€ million)
118.44 
125.22 
Spending on projects (€ million)
116.25 
123.48 
Tangible investments (€ million)
2.19 
1.74 
Technical innovations patented in the last 5 years (no.) 
75 
61 
Patents in the last 5 years (no.)
156 
142 
Innovation projects subsidized (cumulative figure) (no.) 
110 
111 
Improvement groups (no.) 
85 
148 
Good practices (no.) 
189 
106 
Key knowledge items (Management of internal knowledge) 
(cumulative figure) (no.) 
169 
203 
Lessons learned in projects (Management of internal knowledge) 
(cumulative figure) (no.) 
4,374 
4,803 
Innovative Day Meetings (no.) 
64 
65 
Active innovation lines (no.) 
70 
84 
Technology solutions available to the market (no.) 
 6
12 
Environmental capital
2020
2021
CONSUMPTION
Direct consumption of energy (Gwh) (1)
147.42 
133.65
Indirect consumption of energy (Gwh) (1) (2)
497.46 
485.94
Consumption of water (m3) (1)
903,828 
1,381,513
Consumption of plastic pellets (T)
90,534 
84,102
Consumption of polyol/isocyanate (T)
19,619 
17,602
Greenhouse gas emissions by direct consumption 
of energy (scope 1) (tons of CO2 eq/€ million) (1)
6.87
6.20
Greenhouse gas emissions by indirect consumption 
of energy (scope 2) (tons of CO2 eq/€ million) (1)(2)
45.09
39.63
GENERATION OF WASTE
Non-hazardous waste (T/€ million) (1)
15.49
15.26
Hazardous waste (T/€ million) (1)
0.82
0.95
RENEWABLE ENERGIES
Generation of renewable energy (sale) (kWh) (3)
522,041
536,360
Generation of renewable energy (self-consumption) (kWh)
821,072
15,221,518
Greenhouse gas emissions avoided by using 
renewable energy (tons of CO2 eq) (4)
575
2,718
PROCESSES
Environmental Certifications based on ISO 14001 (no.)
95
97
Energy Certification based on ISO 50001 (no.)
7
6
Quality Certifications based on IATF 16949 (included 
manufacturing sites and site-extensions) (no.)
106
105
People dedicated to the environment (no.)
113
113
ENVIRONMENTAL CAPITAL NOTES 
(1) The energy, emissions, waste and water figures correspond to 97.9% (by aggregate sales) of Grupo Antolin’s industrial centers and 
assembly and sequencing centers (including the headquarters).
(2) The figures for the indirect consumption of energy and emissions in 2021 include electricity and district heating. In 2020 direct energy 
only included electricity.
(3) The figures on the generation of renewable energy (sale) correspond to the electricity generated in the Grupo Antolin headquarters, 
which is fed into the electricity distribution network.
(4) The figures on renewable electricity and avoided emissions in 2021 come from the purchase of 100% renewable electricity (6 centers) 
and the generation of electricity for self-consumption (7 centers). These centers represent 9.4% (by aggregate sales) of Grupo Antolin’s 
industrial centers and the Headquarters. In 2020, renewable energy came exclusively from own generation.

94
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
7. Appendix
Human resources
2020
2021
PEOPLE
Average workforce (no.) (1)
26,671 
25,023
Total workforce at year end (no.) (1)
25,748 
24,226
International mobility (no.)
46 
47 
Short-term mobility (no.)
34 
46 
Diversity: women (%)
37.59
37.41
Diversity: men (%)
62.41 
62.59
Diversity: nationalities (no.)
129 
112 
Diversity: languages (no.)
41 
40 
People with special capacities (no.)
307 
275 
Workforce average age (years)
40
40
Average seniority (years)
6
7
(1) Excluding employees from plants accounted for by the equity method
EMPLOYMENT
Permanent contracts (%) 
97.25
97.77
Temporary contracts (%)
2.75
2.23
Technological employment (R&D+i activities) (%)
6.40
6.70
People in technology-related jobs (no.)
1,647 
1,567 
People with an engineering profile (internationally) (no.)
1,522 
1,448 
People with an engineering profile (Spain) (no.)
389 
385 
Workforce involved in technology activities (Spain) (%)
48.79
48.03
Collective contracts/agreements negotiated (no.)
17 
46 
Temporary Redundancy Plans Globally (no.)
97 
52 
Temporary Redundancy Plans Spain (no.)
11 
6 
Human resources
2020
2021
OCCUPATIONAL HEALTH AND SAFETY
ISO 45001 Certifications (no.)
41 
52 
Workforce covered by ISO 45001 Certificate (%)
49
60
Global Frequency Index (number of accidents at work and occupational 
diseases with medical leave/number of hours worked) (no.)
3.66 
3.57 
Severity index (working days lost for every thousand hours worked) (no.)
0.25 
0.21 
Fatal accidents (no.)
0
0 
TALENT, TRAINING AND DEVELOPMENT
Training per person (hours/person)
37.61
37.83
Staff under PRS criteria (PRS – Performance Review System, 
data refer to Indirect Labor (‘MOI’)) (%)
28.1
29.76
Staff under UET’s criteria (UET – Work Elementary Unit. Data refer to 
Direct Labor (‘MOD’)) (%)
71.9
70.24
Internal promotions (%)
47.73
43.60
Companies with Mobile Production System (no.)
18 
31 
Internal promotions – executive positions (%)
76
80
Internal promotions – management positions (%)
61
50

95
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
7. Appendix
Social capital
2020
2021
MANDATORY TRAINING
As a proportion of the target group based on proximity to the risk
COMPLIANCE AND HUMAN RIGHTS
Online training on the Code of Ethics and Conduct
Employees trained (no.)
6,237
6,783
Training hours (no.)
5,503
5,697
Training program launched in 2020. People trained as a proportion of the target group based on proximity to the risk, cumulative to 12.31.2021: 93.91%.
ANTI-CORRUPTION AND COMPETITION
Employees trained (no.)
1,724
1,938
Training hours (no.)
1,249
1,404
Training program launched in 2020. People trained as a proportion of the target group based on proximity to the risk, cumulative to 12.31.2021: 96.80%.
DATA PROTECTION AND PRIVACY
Employees trained (no.)
501
588
Training hours (no.)
594
687
Training program launched in 2020. People trained as a proportion of the target group based on proximity to the risk, cumulative to 12.31.2021: 96.08%.
CONFLICT OF INTEREST AND INDEPENDENCE
Employees trained (no.)
1,645
Training hours (no.)
1,316
Training program launched in 2021. People trained as a proportion of the target group based on proximity to the risk, cumulative to 12.31.2021: 94.70%.
PREVENTION AND COMBATING OF HARASSMENT
Employees trained (no.)
3,895
Training hours (no.)
2,922
Training program launched in 2021. People trained as a proportion of the target group based on proximity to the risk, cumulative to 12.31.2021: 46.71%.
MAIN INDICATORS RELATING TO THE WHISTLEBLOWER CHANNEL
Complaints received
26
25
Founded complaints received
14
18
Corruption complaints
3
1
Human Rights breach complaints
5
5
Corrective actions
14
18
OTHER INDICATORS
Communication of the new version of the Code of Ethics and Conduct (%)
100
100
Monitoring of Human Rights activity by company (%)
100
100
Meetings and interventions in the governing bodies (no.)
14
8
Social capital
2020
2021
SUPPLY CHAIN
Total active tier one suppliers (no.)
3,448
3,383
Active tier one direct material suppliers (no.)
2,830
2,792
Total purchase volume from first-tier suppliers (€’000)
2,050,000 
2,060,000 
Purchase volume from direct material first-tier suppliers (€’000)
1,927,000 
1,937,000 
Purchase volume from local suppliers (€’000)
1,177,000 
1,000,198 
Suppliers of products containing conflict materials with declaration/
certification of origin/compliance (%)
98
98
Direct material suppliers with a relevant impact on environmental, social 
and governance (ESG) matters (no.)
483
453
Direct material suppliers assessed on their ESG performance (no.)
1,466
1,657
Direct material suppliers assessed for ESG (%)
52
59
Panel suppliers with an ESG self-assessment questionnaire completed in the 
last 3 years (no.)
1,466
1,829
Suppliers with a result from the self-assessment questionnaire considered 
‘High Risk’ (no.)
170
279
Direct material suppliers that have accepted the Supplier Code of Ethics (%)
67
78
Investment suppliers that have accepted the Supplier Code of Ethics (%)
67
87
STA’s (Supplier Technical Assistants – Responsible for monitoring and 
developing suppliers) (no.)
69
56
SUSTAINABLE CONTRIBUTION
By Region: Africa-Asia-Pacific (%)
25.16
39.62
By Region: Europe (%)
70.87
33.98
By Region: NAFTA (%)
3.83
26.06
By Region: Mercosur (Southern Common Market) (%)
0.14
0.34
By type: Donations, Voluntary Actions and Emergency Responses (%)
42.53
45.65
By type: Sponsorship and patronage (%)
57.47
54.35
Contribution per employee (no.)
€22.57
€34.19

96
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
7. Appendix
7.3. 
Indicators
GRI 
code
GRI
Heading
Page
Comments
GRI 102: General Information
Profile of the Organization
102-1
Name of the organization
7.4
100 
102-2
Activities, brands, products and services
3.1
3.2
 3.3
25-29
29-33
34-36
 
102-3
Location of headquarters
7.4
101 
102-4
Location of operations
1.2
6
 
102-5
Ownership and legal form
7.4
100
 
102-6
Markets served
1.2
6
 
102-7
Scale of the organization
1.4
6.3
10
78
 
102-8
Information on employees and other workers
6.3
77-84
 
102-9
Supply chain
6.4
85-87
 
102-10
Significant changes to the organization and its 
supply chain
3.3
34-36
102-11
Precautionary principle or approach
5.1
57
 
102-12
External initiatives 
5.3
67
 
102-13
Membership of associations
5.3
67-68
 
GRI 
code
GRI
Heading
Page
Comments
Strategy
102-14
Statement from senior decision-maker
1.1
4-5
 
102-15
Key impacts, risks, and opportunities
4.3
4.4
46-52
53-54
 
Ethics and transparency
102-16
Values, principles, standards, and norms of 
behavior
4.1
38
 
102-17
Mechanisms for advice and concerns about 
ethics
4.2
39
 
Governance
102-18
Governance structure
4.2
39-42
 
102-19
Delegation of authority
4.2
39-40
102-20
Executive-level responsibility for economic, 
environmental, and social topics
4.2
39
102-21
Consulting stakeholders on economic, 
environmental, and social topics
2.2
20
102-22
Composition of the highest governance body 
and its committees
4.2
39-42
102-23
Chair of the highest governance body
4.2
40
102-24
Nominating and selecting the highest 
governance body
4.2
40
102-25
Conflicts of interest
4.3
49
102-27
Collective knowledge of the highest governance 
body
4.2
39
Table of contents GRI standards

97
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
7. Appendix
GRI 
code
GRI
Heading
Page
Comments
Stakeholder engagement
102-40
List of stakeholder groups
2.2
19
 
102-41
Collective bargaining agreements
6.3
84
 
102-42
Identifying and selecting stakeholders
2.2
19
 
102-43
Approach to stakeholder engagement
2.2
19
 
102-44
Key topics and concerns raised
2.2
19
 
102-45
Entities included in the consolidated financial 
statements
7.4
 100
102-46
Defining report content and topic boundaries
2.2
20
 
102-47
List of material topics
2.2
7.4
20
100-101
 
102-48
Restatements of information
7.4
 100-101
 
102-49
Changes in reporting
7.4
100 
 
102-50
Reporting period
-
 
January 1, 2021 
to December 31, 
2021
102-51
Date of most recent report
-
 
Annual Report 
2020
102-52
Reporting cycle
-
 
Annual
102-53
Contact point for questions regarding the report
7.4
101 
 
102-54
Claims of reporting in accordance with the GRI 
standards
7.4
100 
 
102-55
Table of contents GRI
7.3
96-99
 
102-56
External assurance
7.4
102-103 
 
GRI 
code
GRI
Heading
Page
Comments
Economic aspects
GRI 103: Management approach
103-1
Explanation of the material topic 
and its boundary
4.1 
5.3
6.4
39 
65
85
 
GRI 201: Economic performance
201-1
Direct economic value generated and distributed
 5.3
65-66 
 
GRI 204: Procurement practices
204-1
Proportion of spending on local suppliers
6.4
87
 
GRI 205: Anti-corruption
205-1
Operations assessed for risks related to corruption
 4.3
48 
 
205-2
Communication and training about anti-corruption 
policies and procedures
4.3
48,52
 
205-3
Confirmed incidents of corruption and actions taken
4.3 
50 
 
GRI 206: Anti-competitive behavior
206-1
Legal actions for anti-competitive behavior, anti-
trust, and monopoly practices
4.3
50

98
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
7. Appendix
GRI 
code
GRI
Heading
Page
Comments
Environmental aspects
GRI 103: Management approach
103-1
Explanation of the material topic and its boundaries
5.1
5.2
55-57
58, 61
 
103-2
The management approach and its components
5.2 
58-64 
 
103-3
Evaluation of the management approach
5.2 
58-64 
 
GRI 301: Materials
301-1
Materials used by weight or volume
5.2
63
 
GRI 302: Energy
302-1
Energy consumption within the organization
7.2
93
 
302-2
Energy consumption outside of the organization
7.2
93
 
302-3
Energy intensity
7.2
93
 
GRI 303: Water
303-5
Water consumption
 5.2
63
GRI 304: Biodiversity
304-2
Significant impacts of activities, products, and 
services on biodiversity
 5.2
63
GRI 305: Emissions
305-1
Direct (Scope 1) GHG emissions
5.2
59
 
305-2
Energy indirect (Scope 2) GHG emissions
5.2
59
 
305-4
GHG emissions intensity
5.2
59
 
GRI 
code
GRI
Heading
Page
Comments
GRI 306: Waste
306-2
Waste by type and disposal method
5.2
62
 
GRI 307: Environmental compliance
307-1
Non-compliance with environmental laws and 
regulations
4.3
52 
 
GRI 308: Environmental assessment of suppliers
308-1
New suppliers that were screened using 
environmental criteria
6.4
85
 
Social aspects
GRI 103: Management approach
103-1
Explanation of the material topic and its boundaries
6.3
6.4
77
85
 
GRI 403: Occupational health and safety
403-1
Workers representation in formal joint management–
worker health and safety committees
6.3
80
 
403-2
Types of injury and rates of injury, occupational 
diseases, lost days, and absenteeism, and number of 
work-related fatalities
6.3
81
 
403-9
Work-related injuries
6.3
81
Partially 
disclosed
GRI 404: Training and development
404-1
Average hours of training per year per employee
6.3
83
 
404-2
Programs for upgrading employee skills and 
transition assistance programs
6.3
82

99
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
7. Appendix
GRI 
code
GRI
Heading
Page
Comments
GRI 405: Diversity and equal opportunities
405-1
Diversity of governance bodies and employees
4.2
6.3
39
82
 
GRI 412: Human Rights assessment
412-1
Operations that have been subject to Human Rights 
reviews or impact assessments
6.4
86-87
 
GRI 413: Local communities
413-1
Operations with local community engagement, 
impact assessments, and development programs
5.3
66-67
Partially 
disclosed
GRI 414: Social assessment of suppliers
414-1
New suppliers that were screened using social 
criteria
6.4
85
 
GRI 419: Social and economic compliance
419-1
Non-compliance with laws and regulations in the 
social and economic area
4.3
 52
 
Aspects
Principle
Heading
Page
Human Rights
1.	 Businesses should support and respect the protec-
tion of internationally proclaimed Human Rights, 
within their sphere of influence.
4.3
47
2.	 Businesses must make sure that they are not 
complicit in Human Rights abuses.
6.4
85-87
Labor Rights
3.	 Businesses should uphold the freedom of associ-
ation and the effective recognition of the right to 
collective bargaining.
6.3
84
4.	 Businesses should uphold the elimination of all 
forms of forced and compulsory labor.
4.3
47
5.	 Businesses should uphold the effective abolition of 
child labor.
4.3
47
6.	 Businesses should uphold the elimination of 
discrimination in respect of employment and 
occupation.
6.3
84
Environment
7.	 Businesses should support a precautionary 
approach to environmental challenges.
5.2
57
8.	 Business should encourage initiatives that promote 
greater environmental responsibility.
5.2
58-61
9.	 Businesses should promote the development and 
dissemination of environmentally-friendly processes 
and technologies.
5.2
62
Anti-corruption
10.	Businesses should work against corruption in all its 
forms, including extortion and bribery.
4.2
48
Table of contents Global Compact

100
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
7. Appendix
Updating of material issues:
development of the methodology
In the framework of the annual process of reporting the company’s corporate information, as an exercise in adapting and 
communicating its actions to reflect the priorities of its stakeholders, in 2021 Group Antolin went further in the analysis of 
the material issues using the concept of double materiality. Dual materiality includes both the external (environment) to 
internal (company) perspective and the reverse (from the company to the environment). 
External analysis
Identification of aspects from trends, analysts, interna-
tional standards and the standards of the sector itself. 
The following are some of those considered:
	
🡢SASB: International standard that offers 
a specific focus on the car components 
sector.
	
🡢DJSI: where the evaluated aspects of the 
sector have been identified.  
	
🡢Environmental and social taxonomy as a tool for 
determining the relevant areas for financing. 
	
🡢Action plan in the scope of the España 
Puede (Spain Can) recovery plan.
Internal analysis
Performed using the information provided by Grupo 
Antolin in relation to the current management level. 
The following are some of the items analyzed:
	
🡢Risk map of the organization.
	
🡢Strategic plan and action lines.
	
🡢Grupo Antolin Sustainability Master Plan.
	
🡢Internal analysis of the current and potential 
requirements of its stakeholders, such as 
the One Client project.
As a result, the impact of environmental, social and gover-
nance (ESG) issues on the value of the business is examined, 
as is the impact of the business on its surroundings, mainly 
people and the environment. This approach is also aligned 
with the organization’s new strategy and with the objec-
tives set for the Planet, People and Business areas for value 
creation. 
The results have been obtained from an internal and exter-
nal analysis that has consisted of:
	
🡢Drive sustainability: guide from the car manufactur-
ers for the supply chain. 
 
	
🡢National legislation (Law 11/2018, Climate Change 
and Energy Transition Law, Circular Economy Plan) 
and international legislation (FIT for 55, Green 
Pact, REACH, Conflict Minerals, Circular Economy 
Strategy, European Consumer Agenda, Human 
Rights Due Diligence Directive and Corporate 
Sustainability Reporting Directive).
 7.4. 
About this report
The same force and conviction behind Grupo Antolin’s understanding of its commit-
ment to sustainable mobility can be extrapolated to compliance with the principles of 
transparency and clarity with its stakeholders. Reporting rigorously to them all about 
the great progress made in the last year is part of the organization’s ethical and sustain-
able model. That is why Grupo Antolin makes such an effort to offer detailed, accurate 
and rigorous information about its activity during 2021. 
Information perimeter 
and scope of consolidation
This Grupo Antolin-Irausa, S.A.U. and Subsidiaries Integrated Report 2021 corresponds to the finan-
cial year from January 1 to December 31, 2021. The scope of the information disclosed corresponds 
to the financial consolidation perimeter defined in 2021. For more information, please see the con-
solidated accounts for the financial year ending on December 31.
For the preparation of this report, the principles established by the International Integrated Reporting 
Council (IIRC) have been followed. These allow for accurate reporting about how the company is 
managing to create value over the long term. To reflect Grupo Antolin’s commitment to sustainability 
and contribution to the Agenda 2030 goals and objectives, this report also complies with the require-
ments specified by the Essential option of the GRI Standards (Global Reporting Initiative); taking into 
account the GRI principles on the preparation of sustainability reports, Law 11/2018 on Non-Financial 
Information and Diversity, the principles and guidelines of the Global Compact and the ISO 26000 
guide.
The information published corresponds to the activities performed by all Grupo Antolin companies 
and joint ventures applicable to each indicator in the 26 countries in which it has operated during 
2021. The only restriction in terms of information published refers to that reserved on the grounds 
of confidentiality and privacy for the Management and/or the limited ability to obtain information 
in certain countries.

101
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
7. Appendix
The analysis has been concluded with 10 internal corporate, business and geographic 
area interviews, which have provided the vision and focus necessary to value the as-
pects from the dual materiality perspective. As a result of the analysis, Grupo Antolin 
has created a list of the most relevant global issues, which in this report are explained 
from the viewpoint of the approach and management, grouped into the following 
blocks.
Traceability
Grupo Antolin ensures the traceability of the information thanks to the internal management system established for the re-
porting of the data constituting the perimeter of the report. The Marketing, Communication and IR Department, along with 
the Sustainability Department, have led the process of preparing this report, using the information provided by the rest of 
the areas in the organization. All of the company’s departments have evaluated the projects and actions in their respective 
scope of activity that stands out when it comes to demonstrating the shared value generated and Grupo Antolin’s capacity 
to overcome the global challenges at the same time as meeting the information requirements of the different stakeholders 
and the recommendations of the external auditor. The figures that underpin the information reported by Grupo Antolin 
offer an appropriate level of reliability with respect to the scope and controls applied, in accordance with the company’s 
internal information systems. 
The main source of data for the Integrated Report 2021 is the Statement of Non-Financial Information 2021, included as part 
of the Grupo Antolin consolidated annual accounts. The Statement of Non-Financial Information has received a favorable 
verification report*, without qualifications, from the company KPMG about its adaptation to the content demanded by Law 
11/2018 on non-financial information and diversity and the Global Reporting Initiative standards selected. For information 
where no international reporting standards exist, the company has defined the calculation and reporting methods. All the 
economic-financial data underpinning Grupo Antolin’s information throughout the report have been externally audited by 
a third party.
In relation to access to the published information, the Integrated Report 2021 is presented in digital PDF format and can 
be found in Spanish and in English. There is no printed version. The document is available online and has been adapted for 
mobile devices, and for Grupo Antolin’s website and intranet. It is available to all external stakeholders in general and also 
to everyone providing their services in any of the company’s centers around the world. 
In Grupo Antolin’s desire to ensure access to the information at all levels of the organization, the key aspects of the report 
will also be translated into the local language and are disseminated by the Management and the Human Resources teams 
in each of the companies through the channels enabled for that. This publication is the property of Grupo Antolin.
*The SNFI 2021 verification report and auditor’s report on 2021 consolidated financial statements are presented on the next pages.
PLANET
	❯
Responsible use of materials and 
components
	❯
Energy management and efficiency
	❯
Sustainable innovation
BUSINESS
	❯
Business model and ability to adapt
	❯
Security of information 
and cyber security
PEOPLE
	❯
Employment practices
	❯
Attraction, development, and training
	❯
Health and safety
	❯
Commitment, diversity, and inclusion
Ctra. Madrid-Irún, km. 244.8 
09007 Burgos (Spain)
Tel.: +34 947 47 77 00
comunicacion@grupoantolin.com
rsc@grupoantolin.com
infodef@grupoantolin.com
We would be grateful for your opinion 
about our 2021 Annual Report
Grupo Antolin | Integrated Report 2021

102
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
7. Appendix
Statement of Non-Financial Information 2021 
Verification report

103
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
7. Appendix

104
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
7. Appendix
Auditor’s report on 2021 consolidated 
financial statements

105
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
7. Appendix

106
GRUPO ANTOLIN | INTEGRATED REPORT 2021
Go to contents
7. Appendix

www.grupoantolin.com