Gestamp earns 37% more to boost its stock market debutAutomotive News
The car component maker, which will be released in April, improved its turnover last year by 7.3%, to € 7,549 million with a net profit of € 221 million.
The company controlled by the Riberas family will debut in the parquet with a robust result, the best in its history, which will help a better valuation in the IPO.
The company increased its gross operating profit (EBITDA) by 10.6% to 841 million and operating income by 15.6% to 463 million. Profits rose 37.1%, to 221 million euros.
Gestamp has maintained a solid financial position with 1.633 million net debt at the end of 2016, which means a leverage ratio (net debt / ebitda) of 1.94 times. At the close of 2105, the debt was 1,493 million.
The manufacturer’s growth engine was North America, by the United States market, with a turnover that improved by 16.8%, to 1,546 million euros.
The company will put on the market in spring up to 36% of the capital starting from a minimum valuation of 3.3 billion, set last year when the Japanese group Mitsui took 12.5% of the capital.
Gestamp is in full offensive of opening of new plants with the eye put in its imminent exit to Exchange. The company will disembark in Romania and Japan and open its third plant in India and a new factory in Slovakia. The company has 98 industrial plants and 12 R & D centers.
EXPANSION – BY A.Marimón – 03/10/2017 (Translation Soft)