Record half year revenue for Gestamp
A group that makes highly engineered metal components for the automotive industry achieved record revenue for the first half of its financial year.
Gestamp, which has a factory at Four Ashes, near Wolverhampton, achieved revenue of £5.38 billion – up 28.8 per cent on the year.
Earnings before tax for the six months were also up 26.3 per cent to a record of £600 million.
Executive chairman Francisco Riberas said: “First half results continue the 2022 trend, reaching record figures that are the result of our geographic diversification strategy, developing highly innovative solutions for our customers and positioning ourselves to lead the electrification of mobility that will shape the future of the automotive industry.
"Operational and financial discipline has enabled us to deliver record results and we continue to execute our strategy to achieve both 2023 targets and those foreseen for 2027."
During the first six months of the year, the company has allocated 6.8 per cent of revenues to investments. Most of Gestamp's current investments are focused on its strategy of driving the transition to electric vehicles.
During the first half of the year, the automotive market has maintained the recovery trend in production volumes, with a year-on-year increase of more than 12 per cent. and mechanisms.
Gestamp is present in 24 countries with more than 115 production plants and a workforce of nearly 43,000 worldwide.
