REG - CT Automotive Group - Trading Statement

CT AutomotiveAnnouncement

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RNS Number : 0997U  CT Automotive Group PLC  06 August 2025

6 August 2025

 

CT Automotive Group plc

("CT Automotive" or the "Group")

 

Trading Statement

FY25 Earnings on Track as Mexico Facility Ramps Up

 

CT Automotive Group plc ("CT Automotive" or the "Group"), a leading designer,
developer, and supplier of interior components to the global automotive
industry, is pleased to provide the following trading update for the six
months to 30th June 2025.

CT Automotive remains on track to meet latest FY25 market expectations for
revenue and profitability.  H1 25 revenues are expected to be $54.2 million
(H1 24: $60.5 million) reflecting customer program launch timing adjustments
and inventory run down. It is expected that this position will normalise
during H2. Gross margins continue to improve, building on the efficiency
initiatives enacted throughout FY24.

 

CT Automotive continues to successfully navigate a challenging automotive
market environment. In H1 25, CT Automotive secured eight new contracts worth
approx. $37 million annually,*  with four of those contracts set to launch in
Q4 2025 or early 2026 as customers look to relocate existing manufacturing
programs to our cost-efficient facility in Mexico enabling OEMs to take
advantage of USMCA certification. The remaining four programs demonstrate
strong endorsement of CT Automotive's customer proposition and are scheduled
to launch in 2027 and early 2028 giving strong forward looking revenue
visibility.

 

While tariffs have introduced significant uncertainty across the industry,
they have also presented opportunities. The success of our Mexico facility in
securing new contracts transferring from existing customer programs, reflects
this, and highlights the growing appeal of this location. To support this
increased demand, the Group is investing $3.4 million in FY25 to further
enhance the site's capabilities, including the addition of a new automated
paint line and 15 new injection moulding machines.

 

Outlook

 

Across the Group, we continue to deliver efficient, low-cost manufacturing
solutions through our three global production centres.   The new contract
wins demonstrate customer confidence in CT Automotive and provide enhanced
revenue visibility for FY25, FY26 and beyond.  Combined with continued
investment in innovation, and a focus on operational efficiency, the Board
remains confident in CT Automotive's outlook and growth prospects.

 

*In aggregate, once all contracts are operational.

 

Listen to CEO Simon Phillips provide further insight on this trading update

 

Note: The Company believes that current market expectations for the year ended
31 December 2025 are for revenues of $122.0m and adjusted Profit Before Tax of
 $10.5m respectively.

 

Enquiries:

 CT Automotive                                                       Via Novella

 Simon Phillips, Chief Executive Officer

 Salman Mohammed, Chief Financial Officer

 Singer Capital Markets Advisory LLP (Nominated Adviser and Broker)  Tel: +44 (0)20 7496 3000

 Alex Bond, James Todd, Samed Ethemi

 Novella Communications (Financial Public Relations)                 Tel : +44 (0)20 3151 7008

 Tim Robertson, Safia Colebrook                                      ctautomotive@novella-comms.com (mailto: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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