Gestamp’s second-quarter revenue grows amid weaker market

Spain’s Gestamp saw overall performance grow year-on-year in the second quarter, the company says in its latest report monitored by Kallanish. Gestamp is a major supplier of components to the global automotive sector.

“Our results in the second quarter were solid despite a complicated environment marked by supply chain disruptions, microchip crisis and Covid-19,” says Gestamp executive director Francisco Riberas. “We are facing a difficult second half-year, characterised by similar uncertainty in addition to the potential gas supply restrictions in Europe and higher inflation scenario. However, as the electric vehicle transition is not slowing down, we are committed to our objectives for 2022.”

Gestamp’s first-half-of-2022 net revenue amounted to €4.87 billion ($4.93 billion), up 19.5% on-year. In Q2 alone, net revenue was €2.61 billion, a growth of 32.9% y-o-y.

The company’s H1 Ebitda was €554m, up 11.2% y-o-y. In Q2 alone, earnings before taxation were €301m, up €61m y-o-y.

Todor Kirkov Bulgaria