Sales grow 19.5 per cent for Gestamp
Automotive metal components group Gestamp saw sales increase by 19.5 per cent in the first half of its financial year to £4.09 billion.
Executive chairman of the Spanish group, Franciso Riberas, said: “Despite the market instability, Gestamp overcame this period with good results and we remain committed to our clients in order to face the uncertain future.
The company, which has a factory at Four Ashes, near Wolverhampton, achieved net profit of £98.3 million.
Mr Riberas said results in the second quarter were solid despite a complicated market environment marked by supply chain disruptions, microchip crisis and Covid-19.
He said the potential gas supply restrictions in Europe and higher inflation would be a problem in the second half of the year.
Gestamp is working with its clients to speed up the transition to electric vehicles.
There are opportunities for the group in making battery boxes, battery covers or extreme size parts
The company is present in 24 countries, with more than 100 production plants and a workforce of nearly 40,000 worldwide.
