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 H1 2017. Gestamp has continued to build on its long-standing growth trajectory, outperforming the market by more than 5 times.
During the first half of 2017 the company has recorded revenues of €4,131m, 10.4% more than in H1 2016, and EBITDA of €452m, representing an 11.1% increase. At constant FX rates, sales growth would have been 11.1% while EBITDA would have increased by 12.8%. EBIT reached €242m, up by 12.6%.
Gestamp has also continued to grow its net profit reaching €116m, which represents an increase of 27.2% compared to 1H 2016.
Outperforming the market across regions
Gestamp’s growth has been driven by good volumes of existing programs and the ramp-up of new projects especially in Eastern Europe and Mercosur.
Western Europe grew by 9.2% to €2,144m, Eastern Europe increased sales by 29.2% to €484m, Mercosur by 54.3% to €256m, North America by 0.4% to €752m and Asia by 1.2% to €496m.
The Company has added five new plants to its footprint during the first half of 2017, as well as has announced the construction of its first plant in Japan. Gestamp continued strengthening its R&D capabilities by opening new centers in Tokyo (Japan) and Michigan (US) which will enable the company to work in close proximity with its customers and co-develop industry-leading solutions to achieve lighter and safer vehicles.
In this context, during the first half of 2017 Gestamp has made significant investments to accommodate awarded business, which will enable the company to continue growing at a rate above its addressable market.
“We are very satisfied with the performance recorded during the first half of 2017. The good volumes of existing programs especially in Eastern Europe and Mercosur confirm that we are on track to achieve our targets for this year”, remarked the President and CEO of Gestamp, Francisco J. Riberas.
“Gestamp will remain in the same path in order to continue growing the business at a rate above the market and to take advantage of the increasing outsourcing trend. Our customers trust leading long-standing suppliers with best in class technology and we are uniquely positioned to capitalize on this opportunity”, Gestamp's top executive added.