Gestamp boosts sales and profits

Gestamp posted a net profit for the first half of 2022 of 117 million euros, compared to 87 million euros in H1 2021.

Turnover increased by 19.5% to EUR 4,871 million. EBITDA increased by 11.2% to EUR 554 million, but the EBITDA margin decreased from 12.2% to 11.4%.

“Despite the instability of the market, Gestamp has overcome this period with good results and we remain committed to our customers to face the uncertain future,” said Executive Chairman Francisco Riberas.

“Q2 Q2 results are solid despite a complicated market environment characterized by supply chain disruptions, a microchip crisis and Covid 19. We face a difficult second [half]characterized by similar uncertainty in addition to possible restrictions on gas supply in Europe and higher inflation.”

Citing analysts’ estimates that electric vehicle penetration would reach 41 million vehicles by 2029, 30% above the June 2021 estimate, Gestamp said it would work with customers “to accelerate the transition to EV.” speed up”.

“To that extent, there are opportunities that will contribute to Gestamp’s growth path. These opportunities will come from R&D products developed specifically for EV, such as battery boxes, battery covers or extreme sized parts; products that our customers increasingly demand.

“In this context, Gestamp will follow its customers in the transition process to EV and execute strategic investment opportunities. In 2022, we estimate an additional CAPEX of EUR 200 million to EUR 250 million with a measurable increase in revenue in 2023.”

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