CT AUTOMOTIVE GROUP PLC (CTA) — Results for the six months ended 30 June 2026

Investor webinar replay

Replay transcript excerpt

Good afternoon, and welcome to the CT AUTOMOTIVE GROUP PLC investor presentation. Throughout this recorded presentation, investors will be in listen only mode. Questions are encouraged and can be submitted at any time via the q and a tab situated on the right hand corner of your screen. Please just simply type in your questions and press send. Before we begin, I'd like to submit the following poll, and I'd like to hand you over to the management team. Good afternoon, everyone, and thank you for joining us. I'm Ray Bench, chairman of CT AUTOMOTIVE. I'm joined by our chief executive, Simon Phillips. Simon will present the results and the business. Over the next half hour, you will hear three things, what actually happened in the first half and why, a detailed account of the situation with our major customer, and why the business underneath these numbers is robust. This has been a year of deliberate compressed transition with some associated costs. As of the August 4 trading update, the board were fully expecting to meet market expectations for the full year. Recent contract negotiations have given rise to us considering this position, and the board met Tuesday evening to review progress and make a decision regarding the likely timeline to conclusion and the potential impact on full year forecast. The outcome will be explained in detail in this presentation. Over to you, Simon. For three years running, we delivered profit growth from gross margin improvement on the slightly declining revenue line. That discipline hasn't changed. The year has. FY '26 is a transition year. We are rebuilding 40% of group revenue into our Mexico facility in sixteen months. Revenue is on target. The demand is there, and the programs have landed, and the issue is contained. Turkey and China a...