Financial Overview

(in million euros)

	FY ended Dec. 31, 2012	FY ended Dec. 31, 2011	Rate of change (%)	Factors
Sales	2,087	1,876	11.2	-Due to the strong performance of the Asian market and NAFTA territory, with growth close to 60% in China and 41% in the USA. -Due to the contribution from the new Lighting business unit.
EBITDA	224	210	6.7	-

Acquisition

-In February 2012, the Company announced that it signed an agreement to acquire Italy-based CRS S.r.l., which specializes in the manufacture of car interior trims. Its products portfolio includes inserts for instrument panels, door panels and pillars. The CRS production plant is based in Pinerolo. It has an area of 7,000 square meters, employs 47 people and it is expected to have between 8 and 10 million euros turnover in 2012 mostly coming from the manufacture of components for Fiat. With the acquisition of CRS's business, the Company starts its expansion process in the Italian territory, constituting a new company, Grupo Antolin-Italy. Grupo Antolin's presence in Italy strengthens its position as a supplier, enhancing collaboration with the Fiat-Chrysler. (From a press release on February 3, 2012)

Joint Venture

-In November 2012, the Company and the Thai subsidiary of NHK Spring Co., Ltd., have signed an agreement to establish a joint venture to produce automotive headliners in Thailand. The new company, called NHK Antolin Thailand Co. LTD., is located in Bangkok and produce components for the main car manufacturers in the country: Ford, Nissan, Honda, GM, Isuzu and Mitsubishi. It employs almost 100 people and is expected to generate a turnover of 23 million euros in 2014. The Company and NHK relationship started in August 2008 through a technological license granted by Antolin to NHK for the manufacturing of headliners. (From a press release on November 5, 2012)

-In January 2012, the Company and Kasai Kogyo Co., Ltd. announced that they establishes a 50-50 joint venture in Chennai, India in February 2012. The new company, which ic called ANTOLIN KASAI TEK CHENNAI PRIVATE LIMITED, manufactures and sells automotive interior components. It will be capitalized at 700 million rupees, approximately 1,190 million yen. The annual sales are estimated to be 649 million rupees, approximately 1,100 million yen, in 2014. (From a press release on January 30, 2012)

Business Partnership

-In May 2012, the Company has reached an agreement with the company Kasai Kogyo Co., Ltd. to effectively address the needs of their client Renault-Nissan. This agreement is translated into a series of cooperative initiatives between both companies as part of various future projects which Renault-Nissan launches in countries such as Mexico, Brazil, India, Russia, China, the U.S. and Thailand. (From a press release on May 10, 2012)

R&D Expenditure

(in million euros)

	FY ended Dec. 31, 2012	FY ended Dec. 31, 2011	FY ended Dec. 31, 2010
Expense in projects	52.66	46.86	45.66

Capital Expenditure

(in million euros)

	FY ended Dec. 31, 2012	FY ended Dec. 31, 2011	FY ended Dec. 31, 2010
Overall	120.96	117.17	85.25

Investments Outside Spain

<Czech Republic>
-In July 2012, the Company has launched a second plant in Ostrava, Czech Republic, that complements the other plant. It is only one company called Grupo Antolin-Ostrava s.r.o. with two locations. The first serial production started in July 2012, and with this new opening GA-Ostrava enters into negotiations with its customers located in Czech Republic, Slovakia and Poland. (From a press release on July 18, 2012)

<Slovakia>
-In January 2012, the Company announced that it opened a new plant in Nededza (Zilina), Slovakia, where Kia Motors Slovakia is located, for modular headliners and door panels production. The company invested 4.5 million euros in the new plant, which has a staff of 90 people and 5,000 square meters facilities. With an installed capacity production of 150,000 modular headliners it is expected to invoice 16 million euros in 2012. The first units came out from the line at the beginning of January for the Kia Venga (headliner and door panels) and Sportage (headliner) models. This is the second plant of Grupo Antolin in Slovakia where the company operates since 2001 in Bratislava, which provides modular headliners to relevant automobile manufacturers. (From a press release on January 31, 2012)