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Automotive supplier Gestamp returns to profit despite ‘difficult’ market conditions

The multinational parent of the Newton Aycliffe factory said net profit was £128m last year, up from a £58.6m loss.

Major Nissan supplier Gestamp has returned to profit despite what it described as a difficult market.

Accounts for the Spanish parent company of Gestamp Tallent Limited – which runs a Newton Aycliffe plant employing about 2,000 people – showed net profit was £128m (€155m) in 2021, up from a loss of £58.6m (€71m) the previous year.

The multinational reported sales of £6.6bn (€8.98bn), an 11% increase on the previous year – a figure it said outperformed the global vehicle production market. EBITDA increased from £625m (€757m) to £824.2m (€998m).

Gestamp makes metal components including chassis for the automotive market and said “efficiency and flexibility measures” implemented since 2020 had driven profitability levels beyond pre-pandemic levels despite market instabilities and supply shortages.

In early 2021 the company announced plans to close its Washington plant and move production to Newton Aycliffe, a move that resulted in 90 job losses.

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