Gestamp reports lower first half revenue, keeps full-year guidance

Gestamp reports lower first half revenue, keeps full-year guidance

Fri, July 31, 2026 at 7:32 PM GMT+3 2 min read

Automotive supplier Gestamp has reported first half 2026 revenue of €5.79bn ($6.66bn), a decline of 0.9% year-on-year (YoY), and said it remains on course to meet its full-year guidance.

The Spanish automotive components manufacturer said the fall in revenue was mainly due to adverse foreign exchange rates in some of the markets where it operates.

The company said first half earnings before interest, taxes, depreciation, and amortisation (EBITDA) were maintained at €651m, excluding the impact of the 'Phoenix Plan', matching the level recorded in the same period a year earlier.

Net income rose 47% YoY to €110m, while EBITDA margin increased by 10 basis points to 11.2% at the end of June.

In North America, where Gestamp is rolling out the 'Phoenix Plan' across its operations in the US and Mexico, first half EBITDA margin increased to 8.0% from 7.1% a year earlier.

The Phoenix Plan is a strategic business restructuring and operational efficiency initiative launched by Gestamp specifically targeting its operations in the NAFTA (North America Free Trade Agreement) region.

In the second quarter, the margin in North America reached 8.8%, and the company repeated its target of reaching double-digit profitability in the region by the end of the year.

Gestamp said this was mainly driven by positive non-recurring items, including lower foreign exchange rate differences than in the previous year and one-off impacts related to financial expenses.

Net debt was €1.77bn at the end of June, down 17%.

The company said both net debt and leverage were at their lowest first-half levels since 2017, when it listed publicly.

Following its first half results, Gestamp reiterated its full-year guidance of an EBITDA margin above 11.7% and an operating cash flow conversion ratio in the 35% range.

It also said it will keep implementing measures during the rest of the year to improve efficiency, operational flexibility and profitability, while maintaining a highly selective investment strategy focused on countries where it operates and which offer strong growth prospects.

Gestamp executive chairman Francisco J Riberas said: "The company remains focused on its strategy of enhancing efficiency and operational flexibility in mature markets while selectively expanding industrial capacity in the high-growth regions where we operate to capture their development potential.

"At the same time, we continue to strengthen our financial position, enabling us to maintain our leadership and competitiveness in a challenging environment where visibility remains limited."

"Gestamp reports lower first half revenue, keeps full-year guidance" was originally created and published by Just Auto, a GlobalData owned brand.