Gestamp Automocion : CMD does not provide enough answers
>CMD ultimately provides little new information - Gestamp's CMD, the group’s first, was an opportunity for management to provide an update on its performance since the IPO of 2017, which has seen it generate strong growth (CAGR 2016-2019 of 9.5%, or an annual outperformance of 10.6pts), but very little value creation (even pre-COVID). It thus ended 2020 with net debt (ex-IFRS16) of € 2.1bn, or leverage of 3.1x (despite surprise cash generation in 2020 boosted by WCR)....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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