Gestamp: Initiation of coverage: In a cyclical downturn
Gestamp: Initiation of coverage: In a cyclical downturn
- Contents
- Investment case
- Gestamp at a glance
- The automobile industry: Expect high capex for parts’ manufacturers
- Estimates: Capex to continue driving growth in sales
- We expect that free cash flow for equity starts being generated in 2020
- The shares are fairly valued
- Valuation methodology
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.
Bankinter S.A. is a Spanish brokerage firm established in 1989. The company's line of business includes the provision of market research and trading services for Equity and Fixed Income products.
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