Gestamp Automocion : Resilient earnings as expected, but we are still waiting for cash
>Q2 in line and targets confirmed - Gestamp yesterday reported Q2 results that were fully in line with expectations and previous quarters’ trends: the group continues to outperform its market and showed resilient profitability despite the fall in volumes, but cash generation remains very limited. 2021 targets were confirmed (mid-single digit outperformance, EBITDA margin >12%), with two additions: 1/ net debt ex-IFRS 16 is expected down by >€ 100m, implying 2021 ne...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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