Gestamp Automocion S.A. Business Report FY ended Dec. 2014
Business Highlights
Financial Overview |
(in million EUR) |
| FY ended Dec. 31, 2014 | FY ended Dec. 31, 2013 | Rate of change (%) | Factors | |
| Net Sales | 6,256 | 5,853 | 6.9 | 1) |
| EBITDA | 656 | 609 | 7.7 | - |
Factors
1) Net Sales
-In the fiscal year ended December 31, 2014, the Company's sales grew by 6.9% over the previous year to EUR 6,256 million. The increase in sales was caused by improved sales figures in China, North America, and Europe. In particular, increased sales in Spain and the UK helped drive the Company's positive results in Europe. These increases were slightly offset by weakness in the Russian and Mercosur markets, and the depreciation of certain currencies versus the euro.
Restructuring
Sungwoo Hitech increases share in joint ventures with Company
-Sungwoo Hitech announced that it has increased its stake in both of its joint ventures with the Company in Chennai, India. Sungwoo Hitech has a 95.0% share in Sungwoo Gestamp Hitech (Chennai) Ltd. increased from 45.0% previously. It also has a 50.5% share in Gestamp Sungwoo Hitech (Chennai) Pvt. Ltd., increased from a previous ownership of 25.2%. Both joint ventures supply automotive body components to plants in India. (From a press release on April 30, 2014)
Creation of new Office of Technology and Equipment division
-The Company created the Office of Technology and Equipment division to help with the integration of processes and product development of body-in-white components. The Technology and Equipment Office will focus primarily on hot stamping technologies. (From a press release on January 12, 2014)
Outlook
-The Company expects to increase its sales in the fiscal year ending December 31, 2015 by approximately 10% due to expected developments in China and North America, as well as the economic recovery in Europe.
R&D Facilities
-The Company has 11 R&D facilities located in the following countries:
- Brazil
- China
- France
- Germany
- Spain
- Sweden
- UK
- U.S.
-The Company announced the opening of its new Gestamp Chassis Innovation Center in Bielefeld, Germany. The new center is committed to the design and test of prototypes for future generations of chassis in global automotive platforms. Two key areas of focus for the Company's R&D department include reducing the weight of metal car components and improving the strength and safety of its steel components. The Company's facilities in Bielefeld links research and development cycles from design concept to series production, and encompasses 205,000 square meters and has 1,400 employees. (From a press release on December 2, 2014)
R&D Structure
-There are approximately 1,000 employees in the Company working in research and development.
Investment Outside Spain
<China>
-The Company announced the opening of its eighth facility in China, located in the city of Dongguan in Guangdong province. The Dongguan facility was built in 30 weeks, the shortest amount of time that the Company has spent in constructing a new facility. The Company's Chinese plant supplies products for automotive manufacturers such as PSA, Volkswagen, Renault-Nissan, Geely-Volvo, Ford, General Motors, BMW, Daimler and Jaguar Land Rover. China is expected to be the Company's third largest market by the end of 2015, accounting for approximately 10% of the Company's total revenues. (From a press release on October 24, 2014)
<Mexico>
-The Company announced that it has opened its second plant in Puebla, Mexico. Over EUR 55 million was invested in the Puebla plant (Puebla II), which covers 80,000 square meters in total area and has 18,000 square meters of production area. The plant has invested in high-end technologies for cold stamping, hot stamping, laser cut and laser welding among others. With the opening of Puebla II, the Company reinforces its world leadership as the main supplier of clients in Mexico such as Volkswagen, Audi, Chrysler, Fiat, Nissan, General Motors, and Freightliner. The Company will gradually expand operations at the Puebla II plant during the next three years, allocating an additional EUR 55 million investment for the second phase of development. The expansion is expected to increase the production area to a total of 43,000 square meters. (From a press release on September 9, 2014)