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Gestamp grew by 10% in the second quarter of 2016 over the previous year

Gestamp creció un 10% en el segundo trimestre de 2016 respecto al año anterior

9.7.2016

Gestamp, the Spanish multinational specialising in the design, development and manufacture of metal components, has released its results for the second quarter of 2016, in which it increased sales by €176 million, the equivalent to 10% growth over the same period last year.

Furthermore, EBITDA grew by 14.1% compared to Q2 2015. Both turnover and EBITDA would have been much greater – 16% and 20% respectively – had it not been for the effect of exchange rates as a result of a stronger Euro against many world currencies.

Gestamp’s turnover in the second quarter reached €1.936 billion, compared to 1.76 bn in Q2 2015. In all, turnover in the first half of 2016 amounts to €3.741 billion, compared to €3.469 bn in 2015, while EBIDTA grew by 14.1% compared to the same period in 2015.

Once again, Gestamp reports a growth rate well over the average for the automotive market in the countries where the Group operates, which saw a rise of 4.1% during the quarter.

Sales have grown robustly in NAFTA countries and Western Europe, namely 18% and 11.9% respectively. Meanwhile, in Eastern Europe, sales went up by 18.4%, despite weak performance on the Russian market. For its part, Asia returned a significant improvement in turnover of 15.5%. Mercosur is the only market not to report an increase in results, due to the impact of the Brazilian economy’s weak performance.

Francisco J. Riberas, Chairman and CEO of Gestamp, stated he was “satisfied” with the results, because “despite the negative impact of fluctuations in exchange rates, we have managed to grow our operating profits by 21%”.