June 21th, 2024 | 7:48

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Gestamp profits fall to €55M in the first quarter

Gestamp profits fall to 55 million in the first quarter

Jeickson Sulbaran

May 10, 2024 | 5:19 p.m.

Leader in the manufacture of highly engineered automotive components, faces a reduction in its net profit of 31,2% in the first quarter of 2024

At the beginning of 2024, Gestamp, the multinational company specialized in the design, development and manufacturing of highly engineered metal components for the automotive industry, has recorded a net profit of 55 million euros. This figure represents a significant reduction of 31,2% compared to the 80 million euros obtained in the same period of the previous year. This decrease in profits occurs despite the fact that the company's total income reached 3.049 million euros, which shows solid organic growth, adjusted to the impact of the exchange rate, and positions Gestamp above the market in 3,9 .XNUMX percentage points.

Since its IPO in 2017, Gestamp has maintained a positive trajectory, driven by a geographic diversification strategy and strong specialization in its products and services. The company has managed to sustain a trend of solid growth in its sales, outperforming the market. Since 2018, the company's compound annual growth rate has been 5,9%. These numbers reflect the success of Gestamp's business strategy, focused on innovation and intelligent geographical expansion.

Gestamp outperforms the market with outstanding organic growth and a diversified strategy

The EBITDA reported for the period between January and March 2024 was 315 million euros, reflecting a profitability of 10,3%, excluding the impact of the Phoenix Plan1. EBIT during the same period stood at 135 million euros. In addition, the company's net debt at the end of the quarter was 2.233 million euros, 32 million less than the previous year. This improvement in debt structure is an encouraging sign of Gestamp's effective financial management and financial strength.

Francisco Riberas, executive president of Gestamp, has highlighted the importance of these results, stating that they demonstrate the company's ability to maintain its leadership and continue growing above the market. According to Riberas, these results are a clear reflection of the company's commitment to its objectives for the year 2024, as well as its ability to adapt to market changes and continue offering innovative solutions to its clients.

Gestamp's ability to differentiate itself in the competitive global automotive market is largely due to its continued commitment to technology and innovation. The company has not only diversified its geographical presence, but has also invested in the development of new technological solutions that respond to the changing needs of its clients and the market. This strategy has not only strengthened Gestamp's financial structure, but has also ensured its long-term growth and success.

Although Gestamp has faced a decline in its profits in the first quarter of 2024, The company continues to demonstrate its strength and market leadership thanks to a well-defined and executed strategy. The combination of organic growth, geographic diversification and focus on innovation are key to its continued success and are indicative of a promising future.

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