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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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A YEAR OF TRANSITION

13/01/2022

CIE Automotive Chairman Antón Pradera shares his analysis of the future, based on the trends of recent years and with a realistic and clear vision of where the industry is heading

Forecasting the future has always been a daring task. Even more so at a time when we are emerging from three major shocks that have affected the entire world, both on a personal and professional level.

I am referring to the 2009 crisis, which shook the foundations of the system and from which we have not fully recovered; to the pandemic of 2020, from which we are still witnessing the tails of the different variants of Covid-19; and to climate change and energy transition measures, which pose major challenges for the industry in general, and for the automotive industry in particular.

Each of these waves is in itself a major challenge that every company must understand and address by measuring its risk map. If all three are added together in a relatively short space of time, a real tsunami is produced that only excellent management can successfully resolve.

And in this respect, the Basque Country has an advantage. Not only do we have a long industrial tradition, a diversified and balanced economy or an active industrial policy of our Administration. We have first class professionals who have been trained in many situations over the years, which makes them our best guarantee for the future. We have a business culture that is worthy of admiration and that we must take care of.

Therefore, despite all the uncertainties, we can look forward to the coming year with optimism. It will be a year of transition where many of the current problems, such as the supply of raw materials or semiconductors, will be solved, and where consumers around the world will be returning to normality, eager to make up for lost time.

Source: El Correo

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