Gestamp increases its EBITDA by 10.2% in Q3 with regards to the previous year
Gestamp, the Spanish multinational company engaged in the design, development and manufacture of metallic components for the automobile sector, has announced its income as at Q3 2016, where gross operating profit (EBIDTA) increased by 10.2%, standing at EUR 177.6 million.
The quarterly EBITDA would have increased by 15% if it wasn’t for the effect of foreign currency exchange. In cumulative terms, the Group has achieved a 10.1% EBITDA growth this year so far.
Billing in Q3 reached EUR 1,616 million.
Gestamp's cumulative sales have reached EUR 5,357 million so far this year, a 5.8% increase with respect to the previous year, which directs the company towards exceeding prior year-end figures.
Over the first nine months of 2016, Gestamp's sales showed generalised growth in practically all of its key markets thanks to new projects from different customers, in particular regarding large stamping, hot forming and chassis.
Gestamp's Chairman and CEO, Francisco J. Riberas, pointed out that the company has managed to improve its EBIDTA “as we have been able to put in place new projects with existing customers, with more and more markets involved and more cutting-edge technology, which consolidates us as a strategic supplier for them”.
He also mentioned that “Gestamp has continued to outperform the growth in the global automotive market through appropriately managing the short-term without losing sight of the long-term growth objective”.