Gestamp Automocion : Confiance sur le redressement des marges, mais le profil de génération de cash reste inchangé selon nous
>Bon FCF 2020 grâce au BFR et guidance de marge positive - Les résultats 2020 de Gestamp publiés hier soir sont ressortis conformes aux attentes sur le CA et l’EBITDA et supérieurs sur le FCF (+270 M€ vs ODDO 133 M€), mais uniquement grâce à un nouveau swing BFR favorable au T4 (impact BFR FY de 398 M€), rendant donc cette performance difficilement extrapolable. Pour 2021, le groupe a guidé sur une surperformance « mid-single-digit » conforme à nos attentes (+6%e), ma...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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