CIE Automotive has reached historic highs in profit during the first half of the year, consolidating its position as a benchmark supplier in the automotive sector.
Thus, the company has generated revenues of 2,000 million euros in this half-year, with an EBITDA – gross operating margin – of 379 million euros, representing a 19% margin on sales; an EBIT – net operating margin – of 286 million euros, representing a 14.3% margin on sales; and a half-year net profit of 186 million euros.
These results are complemented by an operating cash flow generation of 254 million euros, which represents a 70% conversion of EBITDA, and a debt level that has decreased from a debt/EBITDA ratio of 1.45 to 1.26 times in the last 12 months.
According to Jesús María Herrera, CEO of CIE Automotive, “In an increasingly challenging environment, characterized in this first half by the negative impact of exchange rates, we have achieved the best half-year result in our history, with operating margins that lead the sector.”
In that sense, he states that “The weakness in demand does not change our philosophy, which always prioritizes profitability over volume volatility. With a high cash generation capacity and debt at minimum levels, we continue to strengthen our financial position to confidently face the upcoming challenges.”
SOURCE: CIE Automotive
