The president of Gestamp, Francisco J. Riberas, has exhibited the progress of the Chinese four -wheeled industry at the Shareholders’ Board that the automotive component manufacturer has celebrated this Thursday in Bilbao.
The brands of the Asian country have doubled their world fee to 22%. In 2024 they exported 5.9 million vehicles and activated the implantation plans outside China, before internal competition and installed overcapacity, which has caused losses in some companies in the sector.
With this scenario, Riberas proposes to strengthen commercial relations with these clients from the Fabrile of the group based in Abadiño (Bizkaia), which counts 115 factories in 24 countries (13 of those centers are in China, served by more than 5,000 workers).
Gestamp already works for those brands, such as Byd and Chery. With the latter, those responsible for the Spanish Corporation held various meetings during the Shanghai Motor Show, which ended on May 2. Chery will install the first electric cars of a Chinese brand in Europe in the old center of Nissan in Barcelona. And it has plans to be implemented in Türkiye, as well as Byd, which has advanced plans to settle in Mexico and Brazil, where Gestamp is present.
Riberas defined his group as a local supplier based on that world network, but was concerned about the impact of the tariff policy of the president of the United States, Donald Trump, in the evolution of the world economy. In fact, the Board commented that international car production will be reduced by 1.8%, to 87.9 million units. He chains the 1.1% setback from 2024, when 89.5 million cars were assembled, at pre -pandemic levels of 2019.
The Board approved the entrance to the Board of Directors of Patricia Riberas, daughter of the President of the Group, as Executive Counselor. The meeting also supported the distribution of a complementary dividend of 0.0511 euros per title charged to the results of 2024 and will be paid on July 2. With this additional cast, in addition to another for a global amount of more than 27 million, Gestamp fulfills its commitment to apply a pay out 30%.
The Corporation has an order of orders valued at 51.1 billion and covers the workload for the period 2025-2029 in more than 90%.
Riberas commented on the scope of the Phoenix plan one year after its implementation to improve the competitiveness of six factories in North America. Three of them are in the US and are below the efficiency levels of the group. Phoenix has achieved in 2024 that the Ebitda margin (gross exploitation benefit) on sales of the six centers goes from 6.7% to 7%. The objective for this year is to reach 8%, with the goal of consolidating in 2027 a level between 11%and 13%. In the project, the suppliers of all of them and other factories in Spain that tutoring the processes are involved.
In North America, Gestamp has 16 plants, distributed by the US (nine) and Mexico with seven others. The Bilbao Board has been held with a quorum of 83.53% and has last one hour.
