Gestamp Automocion : Lower-than-expected results; North America in focus once more
>Q4 results and 2024 guidance below expectations - Gestamp yesterday evening reported lower-than-expected Q4 results. EBIT came in 7% below consensus expectations, impacted by the underperformance of the North America division, while net income was 40% below, reflecting operating leverage, but also exceptional financial expenses related to the devaluation of the Turkish lira and the Argentine peso. Faced with this renewed underperformance in North America, the Group i...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.
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