Posting of Annual Report and Notice of AGM

CT Automotive Group PLC

04 June 2024

 

4 June 2024

CT AUTOMOTIVE GROUP PLC

("CT Automotive" or the "Company")

Posting of Annual Report and Notice of Annual General Meeting

CT Automotive, a leading designer, developer and supplier of interior components to the global automotive industry, is pleased to announce that the Company's Annual Report and Accounts for the year ended 31 December 2023 and the notice of the annual general meeting ("Notice of AGM") and associated form of proxy were today posted to shareholders.

The Company's AGM will be held at 9.00 a.m. on Friday 28 June 2024 at 1000 Lakeside North Harbour Western Road, Portsmouth, PO6 3EN.

The Annual Report and Notice of AGM and associated form of proxy will shortly be available on the Company's website, at https://ct-automotive.net/investors/.

For further information please contact:

CT Automotive                                                        Simon Phillips, Chief Executive Officer Anna Brown, Chief Financial Officer	via Novella
Novella Communications                                      Tim Robertson, Claire de Groot, Safia Colebrook                                    Liberum (Nominated Adviser and Broker) Richard Lindley	Tel: [phone] [e-mail] Tel: [phone]

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 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 Mexico, Türkiye and Czechia.

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 57 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.

 

END