null CIE Automotive increases net profit by 20% in the 1st quarter 2016, reaching 37.3 million Euros

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CIE Automotive increases profit by 20% in the 1st quarter 2016, reaching 37.3 million Euros


CIE Automotive maintains its growth levels in the 1st quarter 2016, achieving a net profit of 37.3 million Euros, a 31.3% increase in comparison to results during the same period in 2015.

During this period in 2016, CIE Automotive had a turnover of 659 million Euros, similar to the one in 2015, with an EBITDA of 96.3 million, 5% up.

According to Jesús María Herrera, CEO of CIE Automotive, “we have to point out the significant growth of the net profit, which is the result of the continuous improvement of the margins of our businesses".

Furthermore, Antón Pradera, Chairman, highlights the fact that "the diversification of the group is increasingly wider, with a solid mix of both traditional and emerging markets that allow us to make the most of the growth of different areas".

As announced recently in the Shareholders' General Meeting, CIE Automotive has among its targets the objective of doubling 2015 net profit in five years time and of integrating strategic companies to consolidate the company as one of the most important players in the world. An example of this target is the recent acquisition of Grupo Amaya Telleria.