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CIE Automotive increases net profit by 35%, reaching 165.9 million euros on the first nine months of the year.

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CIE Automotive increases net profit by 35%, reaching 165.9 million euros on the first nine months of the year.

27/10/2017

CIE Automotive continues to stand out for its evolution in the first nine months of the year, reaching a net profit of 165.9 million euros, 35% more than in the same period of the previous year, which means maintaining record company figures and exceeding market expectations.

The Group's turnover has been 2,691.5 million euros, 30% more than last year, highlighting an impressive organic growth of 14.7% in the Automotive unit, which has meant beating the performance of all the markets in which the company operates.

 

Regarding the EBITDA - gross operating margin - CIE has achieved 399 million euros, 31% more than in the same period of 2016, while EBIT - net operating profit - has increased to 284 million euros, a 36% more.

 

Jesús María Herrera, CEO of CIE Automotive, stressed: "Our strategic objectives continue to approach more quickly than initially committed, thanks to the combination of better positioning with our customers, the good evolution of our market share in the different geographies and a management totally focused on the value generation ".

 

On the other hand, Antón Pradera, President of the company commented: "We prove every day that the business model of CIE, with its flexibility and diversification, is optimal to take advantage of the great changes that are taking place in the sector and of which we are already a part with great success".

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