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Gestamp Q3 profit climbs YOY

Gestamp Automoción S.A. said its normalized net income for the third quarter amounted to €30.4 million, a gain from €13.8 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 1.8% from 0.8% in the year-earlier period.

Total revenue totaled €1.65 billion, compared with €1.63 billion in the prior-year period, and total operating expenses came to €1.56 billion, compared with €1.56 billion in the year-earlier period.

Reported net income totaled €37.5 million, compared with €4.3 million in the year-earlier period.