Gestamp, the multinational company specialized in the design, development and manufacture of highly engineered metal components for the automotive industry, has presented its results for Q2 and H1 2019.
The second quarter experienced a positive evolution with better performance than in Q1, especially when taking into account the challenging environment seen during Q2. Reported revenues for the second quarter reached €2,344m, which represents a growth of 7.8% at constant Forex (FX). The Company recorded an EBITDA of €272m in Q2.
Gestamp reported revenues and EBITDA for the H1 2019 of €4,513m and €521m, respectively. Revenues for the six months represent a growth rate of 7.3% at constant FX and outperforms the auto production market by more than 13 percentage points in a challenging market environment.
During the first half of 2019, EBITDA stood at €521m, a 9.0% increase at constant FX. Gestamp recorded its best historical semester in revenues and EBITDA despite the challenging market environment.
During H1 2019, Gestamp continued to deliver strong revenue growth as a result of the ramp-up of new projects. Nevertheless, Gestamp has improved in profitability with EBITDA margin reaching 11.5% in H1 despite the temporary negative impact of underlying market conditions and launch costs associated with project ramp-ups.
During the first half of the year Gestamp outperformed the auto production market across all regions. The main growth areas were Eastern Europe, NAFTA and Mercosur. Western Europe was the only market that registered a revenue decline but continued to perform better than the market.
Francisco López Peña, Gestamp’s CEO: “The first half of this year demonstrates Gestamp’s ability to grow above the market even in challenging times as the auto environment has remained challenging. We will continue to focus on our operations in order to outperform the market for the remainder of the year.”
“Gestamp is successfully executing its new projects and continues to receive enquiries for new business opportunities as OEMs are focused especially on electrification, for which we are well positioned with our lightweight solutions and new products such as the battery box,” López Peña highlighted.