Gestamp increases sales in 2018, continues expansion

The Spanish-headquartered supplier of components to the global automotive sector, Gestamp ended 2018 in line with its growth target, the company says in its annual report monitored by Kallanish.

“Gestamp has reached its revenue and Ebitda targets in 2018. This despite having a second half of the year with more challenges than expected as a result of market conditions, particularly in Western Europe and Asia,” says the company`s ceo Francisco López Peña.

Gestamp has extended its production facilities by adding six new plants in 2018. The company has also announced operational starts for its plant in the US, Mexico, Slovakia and Morocco by the end 2019.

Western European sales moved up by 2.2% to €4.10 billion ($4.64 billion), while in Eastern Europe they increased by 13.7% to €1.18 billion in 2018. The sub-regional Latin-American trading bloc Mercosur sales rose to €585 million or 4.1% more year-on-year. North America sales were up by 11.9% y-o-y to almost €1.66 billion, while Asia market sales were down by -7.8% y-o-y to €1.01 billion, Gestamp says.

During 2018, the company posted €8.54 billion in sales revenue or 4.2% more than in 2017. Net income was 7.5% higher to €258m, while Ebitda was up by 8.0% y-o-y to €961m.