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