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  5. Gestamp Automocion S.A. Business Report FY ended Dec. 2015

Gestamp Automocion S.A. Business Report FY ended Dec. 2015

Financial Overview

(in million EUR)
FY ended Dec. 31, 2015 FY ended Dec. 31, 2014 Rate of change (%) Factors
Net Sales 7,035 6,256 12.5 1)
EBITDA 760 656 15.9 -


Factors
1) Net Sales
-In the fiscal year ended December 31, 2015, the Company’s sales grew by 12.5% over the previous year to EUR 7,035 million. The Company has geographically diversified its production such that in the fiscal year ended December 31, 2015, North America and Asia represented 19% and 14% of the Company’s sales, respectively. North America was the Company’s third largest market, behind Germany and Spain.

Awards

-The Company announced that it has received the Volkswagen Group Award 2015. (From a press release on July 21, 2015)

R&D Structure

-The Company has a total of 12 research and development facilities and approximately 1,300 employees working on research and development activities.

R&D Activities

-The Company has been working on a project that focuses on advanced high strength steel for chassis manufacturing. The scope of the project consists of the development and implementation of a new steel forming process at temperatures that do not affect to the internal structure phase of the steel. The process, called warmforming, has the potential to manufacture more complex shapes with lighter designs and to improve forming tolerances due to reduced spring back. In addition, zinc coating could be applied as protected sheet to avoid scaling. The project was concluded in December 2015 with the Company confirming that warmforming has potential applicability in meeting certain physical requirements for components. (From press releases on June 18, 2015 and December 31, 2015)

Investment Activities

-In the fiscal year ended December 31, 2015, the Company invested EUR 622.4 million in production processes and technology, as well as facility expansion processes and plant openings in the U.S., Mexico, China, India, Spain, and Poland.

Investments in Spain

-The Company announced that its new specialized laser cutting plant, representing an investment of EUR 14.3 million, will be set up in Alava, Spain. The new installation will be located on an industrial site spanning 8,500 square meters and will be equipped with 14 laser cutting cells, and robotized welding cells. This machinery will be used for cutting parts for Volkswagen, Seat and Opel. The Company will begin installing the machinery in November, so that manufacturing can commence in 2017. The plan calls for the hiring of around 100 employees before 2017. (From a press release on October 28, 2015)

Investments outside Spain


-The Company has announced plans to expand its Chattanooga facility and construct a new stamping facility in Enterprise South industrial park in Tennessee, U.S. These facilities will produce external metal skins for Volkswagen's new mid-size SUV. The Company will invest USD 180 million to triple its production capacity in Chattanooga. More than 500 new jobs are expected to be created. (From a press release on June 23, 2015)