Gestamp Automocion : Mixed Q3 results and 2024 guidance lowered
>Mixed Q3 2024 results; guidance for 2024 lowered - Gestamp reported a mixed set of Q3 2024 results yesterday evening (adjusted EBITDA in line with expectations, EBIT, attributable net profit, and FCF below). The group reported sales of € 2.79bn, flat y-o-y (+7% for the Auto business at constant currency), -10% q-o-q, in line with expectations (company-compiled css € 2.75bn, ODDO BHF € 2.77bn), hit by forex, the contraction of its recycling business (Gescrap), and a ...Gestamp Automocion SA. Gestamp Automocion SA is a Spain-based company primarily engaged in the auto parts manufacture. It focuses on the design, development and production of metal components and structure systems for the automotive industry. The Company's products portfolio includes skin panels and closure parts, structural and body components, chassis, bumpers and dashboard crossbeams, among others. The Company's customers include Volkswagen, Renault-Nissan, PSA, Daimler, General Motors and BMW, among others. The Company is a parent of the Gestamp Automocion Group, a group, which comprises a number of subsidiaries with operations established in North and South America, Europe and Asia. The Company is controlled by Acek Desarrollo y Gestion Industrial SL.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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