Gestamp Automocion : Signs of a slowdown that could weigh
>Q3 below expectations, 2023 guidance confirmed - Gestamp yesterday evening reported Q3 results that fell short of expectations (-5% vs css for EBITDA, -3% for net income), down sequentially (EBITDA -14% q-o-q but +6% y-o-y) which could disappoint at first glance, although a closer look shows seasonality in line with historical trends. Following this release, the group confirmed all its 2023 guidance items. This guidance, and consensus estimates (which are significan...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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