Gestamp, the Spanish multinational company dedicated to the design, development and manufacture of automobile components has recorded revenues of €2,096m during the first quarter of 2017, 16.1% more than in Q1 2016, outpacing global vehicle production by more than 3x.
EBITDA totaled €222m, 15.4% more than in Q1 2016 while EBIT reached €120m, up by 20.5%.
Gestamp has also continued to grow its net profit, reaching €55m, which is an increase of 33.2% compared to Q1 2016.
At constant FX rates, sales growth would have been 16.8% while EBITDA would have grown by 17.9%.
Solid growth across regions
Gestamp has grown its operations in all regions, due to volume increases in existing programs and the ramp up of new projects.
Western Europe grew by 16.5% to €1,100m, Eastern Europe increased sales by 28.8% to €224m, Mercosur by 51.1% to €117m, North America 7.9% to € 393m and Asia 6.7% to €263m.
"In line with our strategic goal of staying close to our customers, we have launched important projects such as the construction of our first plant in Japan, the introduction of our first hot stamping line in India, as well as the addition of Romania to our footprint", remarked the president and CEO of Gestamp, Francisco J. Riberas.
In Q1 2017, Gestamp has made significant investments amounting to €225m in support of awarded projects.
"We are satisfied with our financial results in the first quarter, which are consistent with our objectives for the year. We will continue to invest for our growth, while maintaining a conservative risk profile and a solid financial base”, Gestamp's top executive added.