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Gestamp Q2 profit climbs YOY

Gestamp Automoción S.A. said its normalized net income for the second quarter amounted to €42.4 million, a rise from €20.3 million in the year-earlier period.

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

The normalized profit margin rose to 2.0% from 1.1% in the year-earlier period.

Total revenue grew 10.2% year over year to €1.97 billion from €1.79 billion, and total operating expenses grew 9.6% year over year to €1.85 billion from €1.69 billion.

Reported net income totaled €50.2 million, compared with €30.1 million in the year-earlier period.