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July 25, 2019

Gestamp enjoys a record second quarter

Gestamp, the metal components maker, said its second quarter was better than the first as revenue rose 7.8% to EUR2,344m and EBITDA was up 9% to EUR272m.

By Olly Wehring

Gestamp, the metal components maker, said its second quarter was better than the first as revenue rose 7.8% to EUR2,344m and EBITDA was up 9% to EUR272m.

H1 revenue and EBITDA were EUR4,513m and EUR521m, up 7.3% and 9% respectively.

Records were set "despite the challenging market environment", the supplier said

Strong H1 revenue growth was a result of the ramp-up of new projects while profitability improved with EBITDA margin reaching 11.5% "despite the temporary negative impact of underlying market conditions and launch costs associated with project ramp-ups".

Gestamp claimed to have outperformed auto production across all regions in the first half with growth in eastern Europe, NAFTA and Mercosur.

Revenue declined in western Europe but was still better than the market.

CEO Francisco Lopez Pena said: "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."

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