Bilbao, 28.4.2022 – CIE Automotive today presented its results for the first quarter of 2022 during the General Shareholders' Meeting held at the Euskalduna Palace in Bilbao.
Thus, CIE has invoiced 972 million euros in the quarter, 11% more than in the same period of 2021, with an EBITDA - gross operating profit - of 159.5 million and an EBIT - net operating profit - of 117.7 million.
Net profit reached 82.2 million, up 5% and the highest quarterly profit in the company's history.
These figures make the results of the first quarter of 2022 historic record results for CIE Automotive, both in terms of revenue and operating results (EBITDA and EBIT) and in net profit.
According to Jesús María Herrera, CEO of CIE Automotive, "We expect the market to value these magnificent results, achieved thanks to the efforts of all members of the CIE team in a very complicated industry context, with an almost 5% drop in volumes produced and a generalized scenario of cost inflation".
And he adds: "These results demonstrate that our business model, a model that promotes diversification, really works in the most adverse circumstances, as we take advantage of the fact that not all geographies and not all clients are equally affected by the multiple market disruptions.
Thus, 100% of analysts' recommendations are not to sell CIE shares, a recognition of its performance and promising future.
