- Improved operating margins reaching 14.9% 9.5% EBITDA and EBIT
CIE Automotive continues to meet its forecast for this year achieved in the first half, a turnover of 849.8 million euros (down 0.4%), with an EBITDA of 122 million (March 1 , 8% higher). Net income for the period was 32.8 million, down 1.7%.
These results were mainly due to good operating margins in all businesses, markets and the Group’s production plants reaching 14.9% of EBITDA and EBIT 9.5%, along with the positive trend in sales Brazil and NAFTA for the recovery of these markets.
According to Anton Pradera, President of CIE Automotive, “our improving competitiveness can face the future from a position of strength, which is enhanced by our geographic diversification to Asia”.
Recently CIE Automotive and Mahindra Group have announced the signing of a global partnership involving the expansion in Asia will allow the Group CIE achieve annual sales of about 2.225 million euros, representing an increase of 580 million euros with respect to the 1,645 of 2012.
