Gestamp, the Spanish-headquartered supplier of components to the global automotive sector, says it has already secured 95% of targeted revenue up to 2022 in its order book.
During its Capital Markets Day presentation, the company said that although the automotive market remains challenging in the short term, it expects its own sales to outperform the automotive industry average, Kallanish notes.
“We estimate strong Ebitda generation reaching 13% of revenue in 2022, through various levers leading to profitability improvements,” Gestamp comments. “The company’s strong presence in the largest growing regions and segments should support our strong market performance in the next years.”
Gestamp is now focused on increasing profitability and free cash flow generation in 2021. The group expects revenue to outperform the global auto production market by a mid-single-digit, while its transformation plan aims to achieve Ebitda margin above 12% by the end of 2021.
Beyond 2022, the company will focus on new opportunities while keeping a prudent financial profile, Gestamp adds.
Todor Kirkov Bulgaria
