AGM Statement

CT Automotive

26/06/2025 07:00

RNS Number : 4481O

CT Automotive Group PLC

26 June 2025

 

26 June 2025

 

CT Automotive Group plc

("CT Automotive" or the "Group")

 

AGM Statement

 

CT Automotive Group plc ("CT Automotive" or the "Group"), a leading designer, developer, and supplier of interior components to the global automotive industry, is holding its Annual General Meeting ("AGM") today at 9.00 a.m. at which it will provide the following  statement:

"To date in 2025, CT Automotive has made meaningful progress and continued its strategic development for future growth. Despite ongoing disruptions in the automotive industry exacerbated by the introduction of tariffs, we are on track to meet FY25 market expectations for profitability. Anticipated sales growth will be slightly softer than expected but this has been offset by further improvements in our gross margin position.

 

We are investing heavily in our Mexican facility, with over $3.4 million allocated to capital expenditures in FY25. This investment underscores our confidence in the secured business pipeline that will drive our growth.

 

While the situation continues to evolve, to date the introduction of global tariffs has been managed effectively, with only limited impact on our operations and financial performance. Our proactive approach ensures that any additional costs are seamlessly passed on to our customers or absorbed without disruption.

 

A good run of customer wins in the last six months means we have increasing visibility over the remainder of FY25 and into FY26. Our longer-term growth pipeline remains strong and our sustained investment in AI, automation and digitization continues to be a key part of our strategy to enhance gross profit margins. With our strong foundation, ongoing innovation, and commitment to efficiency, CT Automotive is poised for continued success in 2025 and beyond."

 

In the video below, CEO Simon Philips provides his overview of this statement

 

Your browser does not support HTML5 video.

 

Investor Presentation

 

Simon Phillips, Chief Executive Officer and Salman Mohammed, Chief Financial Officer, will provide a short presentation following the completion of the AGM via Investor Meet Company on 26 June 2025, at approximately 9:10 BST.

  

Investors can sign up to Investor Meet Company for free and add to meet CT AUTOMOTIVE GROUP PLC via:

 

https://www.investormeetcompany.com/ct-automotive-group-plc/register-investor

 

 

Enquiries:

CT Automotive
Simon Phillips, Chief Executive Officer
Salman Mohammed, Chief Financial Officer
Via Novella
Singer Capital Markets Advisory LLP(Nominated Adviser and Broker)
Alex Bond, James Todd, Samed Ethemi
Tel: +44 (0)20 7496 3000
Novella Communications (Financial Public Relations)
Tim Robertson, Safia Colebrook
Tel : +44 (0)20 3151 7008
ctautomotive@novella-comms.com

 

Notes to editors

CT Automotive is engaged in the design, development and manufacture of bespoke automotive interior finishes (for example, dashboard panels and fascia finishes) and kinematic assemblies (for example, air registers, arm rests, deployable cup holders and storage systems), as well as their associated tooling, for the world's leading automotive original equipment manufacturers ("OEMs") and global Tier One manufacturers.

 

The Group is headquartered in the UK with a low cost manufacturing footprint. Key production facilities are located in Shenzhen and Ganzhou, China with additional manufacturing facilities in Mexico and Türkiye and distribution facilities and assembly lines in Europe, Asia and the US.  The Company has a low cost design and administrative centre in India.

CT Automotive's operating model enables it to pursue a price leadership strategy, supplying high quality parts to customers at a lower overall landed cost than competitors. This has helped the Group build a high-quality portfolio of OEM customers, both directly and via Tier One suppliers including Forvia and Marelli.  End customers include volume manufacturers, such as Nissan, Ford, GM and Volkswagen Audi Group, and premium luxury car brands such as Bentley and Lamborghini.  In addition, the Group supplies all our customer base with a range of products for PHEV and BEV platforms and supplies electric car manufacturers, including Rivian and a US based major EV OEM.

The Group currently supplies component part types to over 55 different models for 22 OEMs. Since its formation, the Group has been one of the very few new entrants to the market, which is characterised by high barriers to entry.

 

 

 

 

 

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