Business
Results for the year ended 31 December 2021
Results for the year ended 31 December 2021.
About this update from Ct Automotive Group Plc
[{"type":"text","content":"\n \n \n 19 May 2022\n \n \n \n \n \n \n \n \n CT AUTOMOTIVE GROUP PLC\n \n \n \n \n (\"CT Automotive\", \"CT\" or the \"Group\")\n \n \n \n \n \n \n \n \n \n Results for the year ended 31 December 2021\n \n \n \n \n \n \n \n \n \n Positive trading into 2022 - well positioned as global vehicle production recovers\n \n \n \n \n \n \n CT Automotive, a leading designer, developer and supplier of interior components to the global automotive industry, today announces audited results for the year ended 31 December 2021.\n \n \n \n \n \n \n Scott McKenzie, Chief Executive Officer of CT Automotive, commented:\n \n \n \n \n \n \n \n \n \n \"2021 was a landmark year for CT Automotive as we successfully completed our AIM IPO and achieved a positive trading performance.\n \n \n \n \n \n \n \n \n \n We have made good progress in 2022 to date, with further new business wins and our new manufacturing plant in Mexico on track to commence operations in early H2. While the global automotive supply chains continue to be disrupted, demand remains strong, and we are seeing customer schedules and visibility improving. The Board remains confident of meeting its expectations for the full year.\n \n \n \n \n \n \n \n \n \n Looking ahead, we are well placed to build on our strong track record of growth, client relationships and manufacturing excellence as global semiconductor shortages ease and vehicle production volumes recover.\"\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Financial highlights\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 2021\n \n \n \n \n \n \n 2020\n \n \n \n \n \n \n Change\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $m\n \n \n \n \n \n \n $m\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Revenue\n \n \n \n \n \n 132.9\n \n \n \n \n 109.9\n \n \n \n \n 20.9%\n \n \n \n \n \n \n \n Gross profit\n \n \n \n \n \n 29.0\n \n \n \n \n 21.3\n \n \n \n \n 36.2%\n \n \n \n \n \n \n \n Adjusted EBITDA*\n \n \n \n \n \n 8.8\n \n \n \n \n 1.1\n \n \n \n \n 700%\n \n \n \n \n \n \n \n Adjusted Profit/(loss) before taxation*\n \n \n \n \n \n (1.8)\n \n \n \n \n (7.9)\n \n \n \n \n 77.2%\n \n \n \n \n \n \n \n Earnings per share\n \n \n \n \n \n (31.2)p\n \n \n \n \n (44.0)p\n \n \n \n \n 29.1%\n \n \n \n \n \n \n \n Net debt\n \n \n \n \n \n 9.5\n \n \n \n \n 57.9\...