Analysis of the Gestamp results of 2017

Analysis of the results of Gestamp 2017

Analysis Department of Bankinter offers analysis of the latest news on the Spanish company:

Gestamp

– Recommendation: Buy

– Close: 6.53 euros

– Daily variation: -0.23%

2017 results, no surprises

  • Sales : 8,201.6 million euros (+ 8.7%).
  • EBITDA : 889.9 million euros (+ 5.8%).
  • Cumulative net profit (BNA) : 239.7 million euros (+ 8.3%).
  • Net debt (DN) : 1,897.9 million euros (+ 16.2%).
  • DN / PN : 0,96x (0,87x vs. December 2016).

The results have been affected by the movement of currencies.  At constant currency EBITDA growth it would have been + 8.8%.

The contribution has been uneven as the geographical area to be considered:

  • Mercosur and Eastern Europe grow significantly: + 40.1% and + 21.4% respectively.
  • Western Europe increased its profits by 8.3%.
  • Asia : + 6.2%.
  • NAFTA cut -4.1%.

Opinion

Results without big surprises that hardly have an impact on the share price. 

Gestamp 2017 Financial Results

See quote / operate with Gestamp shares in Bankinter

 

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