Trading Statement
Summary by AI BETAClose X
04 August 2026
CT Automotive Group plc
("CT Automotive" or the "Group")
Trading Update
CT Automotive, a leading designer, developer and supplier of interior components to the global automotive industry, is pleased to provide the following trading update, reporting strong revenues for the six months to 30 June 2026 ("H1 26"), a materially expanded manufacturing capability in Mexico, and further contract wins, despite a challenging geopolitical backdrop.
H1 26 Trading
The Group experienced strong revenue growth in the period, up 15% to $62.1m (H1 25: $54.1m), slightly ahead of management expectations, driven by strong customer demand and the successful launch of new programmes in our Mexico facility. Production revenue was up 14% to $56.9m, (H1 25: $50.1m), while tooling revenue was up 30% to $5.2m (H1 25: $4.0m).
Geopolitical instability had an impact on both operating costs and supply chains early in the period and therefore underlying profit before tax for H1 26 is expected to be materially below the prior-year comparative period. While the Group has contract mechanisms in place that claw back material and labour costs, time lags have deferred some of this cost recovery into H2 26. Our response to the threats in customer supply was to incur increased freight costs and increase the stockholding levels on critical lines in our Mexican facility for a short period. Additionally, while the Mexico facility ramped up production, further inefficiencies were identified and rectified, but only after incurring unplanned costs in the process.
Our facilities in China and Türkiye continue to perform well and in line with management expectations, with encouraging progress on cost reduction efficiencies already evident in Türkiye and further efficiencies anticipated in China as operations consolidate into a single manufacturing facility.
Outlook
The Board expects continued strong revenues in H2 26 to be accompanied by materially stronger profitability, compensating for H1 26 performance, underpinned by a significantly improved performance in our Mexico facility from actions already taken and embedded. Additionally, with the new paint facility now in production, the Group expects to reduce stock to normal levels, as well as reduce its reliance on long lead-time imported components.
We continue to focus on operational efficiencies across all facilities, with a key element being the further development of CT Automotive's proprietary factory operating system. This is now operational in our Mexico facility and is expected to be implemented across the Group's wider manufacturing footprint by Q1 27. The system applies agentic AI across production, supply chain and quality functions, giving management live control of the factory floor, in place of retrospective reporting, and generating immediate cost and waste reduction outcomes. Taken together, the Board is confident that these drivers will address the first half shortfall and that the Group will meet market expectations for FY26¹.
Simon Phillips, Chief Executive Officer of CT Automotive, said:
"This has been a period of real progress. After recent years spent focusing on optimisation, revenue is now growing as we start to deliver on our contract wins. We have launched new programmes at speed, and brought significant new capability online in Mexico, all while global supply chains were under strain.
"The additional costs we absorbed in the period were related to geopolitical events, for which we have contract recovery mechanisms, the price for protecting customer production during a time of global disruption and for launching new work at pace in a new facility.
"Our factory operating system is the clearest example of how we are changing the way this business runs. It has given our Mexican management team live control of the factory floor, which is already translating into tighter operational control and lower indirect costs. Fully leveraging this capability is one of the most exciting opportunities in front of us.
Interim Results
The Company expects to announce its interim results for H1 26 in early September 2026.
¹ Immediately prior to this announcement, the Company believes that market expectations for the year ended 31 December 2026 were for revenues of $123.5m and adjusted Profit Before Tax of $10.2m.
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CT Automotive Raymond Bench, Non-Executive Chairman Simon Phillips, Chief Executive Officer |
Via Singers |
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Singer Capital Markets Advisory LLP (Nominated Adviser and Broker) Alex Bond, Dan Ingram
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Tel: +44 (0)20 7496 3000 |
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 64 different models for 21 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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