CT Automotive (CTA) interim results presentation - September 2022

CT Automotive Executive Chairman, Simon Phillips, CEO, Scott McKenzie, COO, Stuart Lorraine and CFO, David Wilkinson present the half year results for the period ended 30 June 2022, which shows revenues ahead in H1 and production recovery gaining momentum. Simon Phillips, Exexutive Chairman 00:17 - Introduction 00:54 - H1 22 highlights 02:15 - Growth Progress Scott McKenzie, CEO 05:00 - Increasing visibility 06:00 - UK plant closure 06:53 - China update Stuart Lorraine, COO 08:44 - Improvement initiatives David Wilkinson, CFO 13:06 - Income Statement 14:49 - Balance Sheet Scott McKenzie, CEO 15:54 - Outlook Simon Phillips, Exexutive Chairman 17:25 - Summary About CT Automotive 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 suppliers ("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 complemented by additional manufacturing facilities in Turkey and the Czech Republic. 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 roster of OEM end customers, both directly and via Tier One suppliers including Faurecia and Marelli. End customers include volume manufacturers, such as Nissan, and luxury car brands such as Bentley and Lamborghini. In addition, the Group supplies electric car manufacturers, including Lucid. The Group currently supplies component part types to over 47 different models for 19 OEMs. Since its formation, the Group has been the only significant new entrant into the market, which is characterised by high barriers to entry.