Gestamp, the multinational specialized in the design, development and manufacture of highly engineered metal components for the automotive industry, reported revenues of €8.4bn for the first nine months of 2026. This represents a slight year-on-year decline of 0.6% over the period, impacted by foreign exchange rate fluctuations in certain markets where the company operates.
Gestamp’s broadly flat revenue performance comes against a market backdrop that remains volatile, with global light vehicle production declining by 0.8% between January and September to 62.2 million units, according to data from S&P Global Mobility.
The company continued to drive operational efficiency and flexibility measures during the period, with EBITDA reaching €954 million (excluding the impact of the ‘Phoenix Plan’), compared with €937 million a year earlier. The EBITDA margin stood at 11.3%, up 30 basis points year-on-year.
North America continues to deliver the company’s strongest improvements in profitability. Gestamp, which operates in the United States and Mexico, continues to make progress with its ‘Phoenix Plan’, launched in 2024 to improve margins in these markets and bring them closer to the levels achieved in other regions. As a result of the initiatives implemented, the EBITDA margin reached 8.7% in the first nine months of the year, up from 7.2% in the same period last year, and rose to 10.5% between July and September alone. The progress achieved allows Gestamp to reiterate its target of reaching a double-digit EBITDA margin in North America in 2026.
The result for the period was affected by certain non-recurring items, while the year-on-year comparison reflects the significant impact of adverse foreign exchange movements in the previous year. Net income for the first nine months of 2026 stood at €141 million, up 36% year-on-year and in line with levels recorded prior to 2025.
Francisco J. Riberas, Executive Chairman of Gestamp, said: “
The company’s strong operating model continues to drive greater efficiency across our processes and operations, with progress in key regions such as North America. This, combined with the selective expansion of our industrial capacity in countries offering significant opportunities due to their strong growth prospects, including recent plant openings in India and Brazil, enables Gestamp to remain competitive in a market environment where uncertainty persists”.
Net debt remains within target levels and falls to its lowest level since 2017
At the end of September, Gestamp’s net debt stood at €1,908 million, down 9.4% year-on-year. This represents the lowest level recorded in the first nine months of a year since the company went public in 2017, and translates into leverage of 1.4x EBITDA, compared with 1.6x EBITDA in September 2025.
The progressive reduction in the company’s indebtedness reflects Gestamp’s liability optimization strategy, which has helped consolidate a strong financial profile.
Meanwhile, the company’s free cash flow reached €17 million (excluding the ‘Phoenix Plan’) in the first nine months of the year, compared with negative €41 million a year earlier.
Gestamp on track to meet its annual guidance
The company’s performance in the first nine months of the year allows it to reiterate its annual guidance, despite continued volatility in global light vehicle production forecasts. Since the summer, S&P Global Mobility has progressively revised upwards its 2026 production estimates, reversing the downward revisions made during the first half of the year. Nevertheless, it still expects full-year production to decline by approximately 1.5 million vehicles to 91.6 million units.
Against this backdrop, Gestamp has made progress towards achieving its 2026 guidance, which includes an EBITDA margin above 11.7% and an operating cash flow conversion ratio in the 35% range.