Gestamp, the multinational company specialized in the design, development and manufacture of highly engineered metal components for the automotive industry presented its results for 2019 with revenues of €9,065m in a challenging year for the automotive sector.
The reported revenue figure implies a 6.3% growth rate at constant FX in a market that decreased by 5.6% during this period. This has resulted in a continued outperformance by nearly 12 percentage points despite weak market conditions.
EBITDA reached €1,072m, up by 11.7% versus last year, reaching an 11.8% margin. EBIT amounted to €504m, which represents a 4.4% decrease when compared to 2018. Net income decreased by 17.6% to €212m, with a continued improvement throughout the year despite the challenging market dynamics.
Growth in revenues and EBITDA during Q4 2019
Gestamp also experienced growth in revenues during Q4 2019 by increasing 4.6% at constant FX to €2,493m and EBITDA grew by 13.5% at constant FX, up to €317m. This has resulted in an EBITDA margin improvement vs. Q4 2018, reaching 12.7%.
During Q4 2019 the auto production market declined by 4.3% in the countries where Gestamp is present. Net Income for the quarter reached €84m, which implies an improvent quarter by quarter during 2019.
Revenue by regions
Gestamp outperformed the market in all of its regions despite a challenging year. Eastern Europe reached €1,380m, a 20.4% growth rate at constant FX. NAFTA amounted to €1,976m, a 13% growth rate at constant FX.
During this period, Asia reached €1,143m, an 11.2% growth rate at constant FX. Mercosur amounted to €656m with a growth rate of 28.1% at constant FX. Western Europe decreased to €3,911m or -4.7% at constant FX.
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SOURCE: Gestamp
