Executive chairman Francisco J. Riberas said: “Despite being one of the most adverse environments in decades, the company has managed to exceed its pre-Covid levels, achieving results that allow us to face the future with ambition and focused on our aim of growth taking advantage of the opportunities that the transition to electric vehicles offer."
Regarding the outlook for 2023, the executive chairman pointed out, "the year ahead is still marked by macro uncertainty; Gestamp continues to focus on growth, especially in new electric vehicle projects, cost control and financial discipline.”
Gestamp's revenues in 2022 grew by 32.5% to reach €10,726 million. EBITDA stood at €1,210 million, an increase of 21.2%. As for net profit in 2022, it was already above 2019 levels and reached €260 million.
During the 2022 financial year, Gestamp has continued to work on its ESG strategy to promote decarbonization and strengthen its position ahead of the circular economy opportunity in the automotive sector.
On the one hand, the company continues with its plan to increase renewable energy supply in all its plants. On the other hand, with the aim of capturing new business opportunities related to circular economy, Gestamp has acquired a stake in Gescrap Group. The company is the European leader in the management and recycling of high-quality scrap metal. Thus, Gestamp will enhance the circularity of its business model, thanks to the promotion of the use of its scrap as a secondary raw material in the production of low-emission steel. With this acquisition, Gestamp seeks to strengthen its position in the opportunity that the circularity of the economy poses for the automotive sector in its quest for decarbonization. This acquisition allows Gestamp to position itself within the low-emission steel supply chain and to seek new formulas for collaboration with its customers and steel suppliers.
In 2022, Gestamp celebrated 25 years of history, consolidating its position as one of the market leaders in the manufacturing of vehicle components. The company continues working to drive the transition towards electric vehicles together with its customers, given the strong prospects for the sector. The number of electric vehicles produced in 2023 is expected to reach 16.4 million units (according to IHS as of December 2022), which translates into a market share of around 19%.
As the electrification opportunity gains momentum, innovation plays an increasingly important role. Gestamp is one of the market leader in innovation, which is one of the company's strategic pillars. Together with its suppliers and customers, Gestamp works to respond to the new requirements that the automotive industry needs.
During this financial year, Gestamp announced that during the year it would invest between €200 and 250 million in strategic projects for electric vehicles in three regions: North America, Europe and Asia. With this investment, Gestamp seeks to strengthen its position as a leader in the transition to electric vehicles.
