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Gestamp foresees that more than half of its income will come from electric cars

Date: April 24, 2024 Time: 08:42:43

The Spanish manufacturer of vehicle components Gestamp expects that more than half of its revenue will come from electric vehicles in 2027, due to the growth of up to four times that it estimates for this production market in the next four years. This has been detailed by the company in the second edition of ‘Capital Markets Day’, in which they have presented to investors the company’s 2023-2027 strategic plan with which it wants to “lead”, together with vehicle manufacturers, the towards more sustainable mobility for which Gestamp claims to have a “clear and defined path based on financial discipline” strategy.

In this sense, Gestamp’s strategic plan for the next five years contemplates the steps to follow to maintain the “current rate of growth”, as in the period 2017-2022, in which the Gestamp parts present in vehicles have been adjusted by more than 30%. In addition, the company includes planning to generate value for all its stakeholders: customers, suppliers, investors and employees. To this end, Gestamp plans to increase the ‘Return on Capital Employed’ measure from the current 14% to 17.5% in 2027, as well as maintaining shareholder remuneration of 30% of annual net profit.

ESG Strategic Plan

Similarly, the company shows a ‘road map’ to accompany the industry in the mobility revolution and to promote and extend the circular economy model of its business, focusing on the use of recycled steel and scrap management. as a business strategy of the company, to make a complete follow-up of its life cycle. Along the same lines, the ESG Strategic Plan, recently announced at the General Shareholders’ Meeting held in May, has been presented. The proposal includes the objectives in these matters that will allow Gestamp to be positioned at the forefront of sustainability and the circular economy.

“We are prepared for the challenge that sustainable mobility represents for future generations. Our goal, in the short term, is to accompany our customers and suppliers in the transition to more sustainable mobility,” said the executive president of Gestamp, Francisco J. banks. “Our strengths will allow us to take advantage of the electrification of mobility to be the supplier partner of our clients and improve our value proposition”, he completed.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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