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CIE Automotive challenges the sector with a record profit of 326 million euros in 2024

27/02/2025

Increases sales and results with a high level of cash generation that brings debt to historic lows

Bilbao, 27.2.2025 – CIE Automotive has presented today the results for the 2024 financial year, challenging with significant growth an Automotive industry weakened by uncertainties.

Sales have exceeded 3.96 billion euros, which represents a growth of 1.1%, outperforming by more than 2 basic points the decrease in global vehicle production.

In terms of operating margins, an EBITDA – gross operating profit – of 728 million has been reached, and an EBIT – net operating profit – of 538 million euros, which represents margins of 18.4% and 13.6% respectively, significantly higher than the average margins of the sector.

All of the above results in a record net profit of 326 million which, on a comparable perimeter, represents a growth of almost 5% compared to 2023.

According to Jesús María Herrera, CEO of CIE Automotive, “We continue growing above the market, improving our results, and above all, we continue with an extremely high cash generation that has brought our leverage to historic lows, which, in the current sectoral context, highlights the value of our management model and our positioning as a reference supplier in the global Automotive industry”.

And he adds: “For all these reasons and due to our expectations for the current year, we are in a position to reconfirm that the commitments of the 2025 Strategic Plan will be fulfilled.”

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null CIE Automotive acelera la recuperación con su regreso a niveles de rentabilidad Pre-Covid

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CIE Automotive accelerates the recovery with its return to pre-Covid profitability levels

25/10/2020

The company’s turnover in the first nine months reaches 2,000 million euros and its net profit is 117.8 million

 

Bilbao, 27.10.2020 – CIE Automotive continues on the path of recovery of the activity, already reaching in the third quarter of the year a production of 85% over normalized levels and even 90% in the month of September, which has allowed the company to generate significant profits again.

Thus, in the first nine months of the year, its turnover reached 2,000 million euros and its EBITDA - gross operating profit - 284 million. In addition, the company has generated during the period an operating cash flow of 150 million euros and a net result of 117.8 million euros.
According to Jesús María Herrera, CEO of CIE Automotive, “despite the negative impacts of the global economic downturn and exchange rates on our income statement, we have achieved an EBITDA margin over quarterly sales of 16.5%, which means meeting the great challenge of returning to profitability levels prior to the pandemic even with only a partial return in volumes”.

“Our business model - based on the flexibility of our cost structure, decentralization and diversification - has made us a benchmark company in the industry, since, even in the most complicated moments, we demonstrate profitability above the standards that the sector has in a normal situation”, continues Herrera.

Given current market estimates, the company expects a final quarter in which to consolidate pre-Covid 19 profitability levels and to continue with its shareholder compensation policy, while maintaining the focus on cash generation and deleveraging.

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