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CIE Automotive increases net profit by 26%, reaching 123 million euros

CIE Automotive continues fulfilling the positive forecast prediction and has reached 2,070.3 million euros turnover in the first nine months of the year, a 5% more than 2015. The EBITDA -gross operating margin – has reached 303.7 million (10% more) and the EBIT – net operating profit – 210 million, 13% higher. The net profit … Continued

CIE Automotive continues fulfilling the positive forecast prediction and has reached 2,070.3 million euros turnover in the first nine months of the year, a 5% more than 2015. The EBITDA -gross operating margin – has reached 303.7 million (10% more) and the EBIT – net operating profit – 210 million, 13% higher. The net profit has resulted in 123 million, an increase of 26% over the same period last year.

According to Jesús María Herrera, CEO of the company, “our commitment is to maintain this increasing benefit line in every quarter, and in order to do so we aim to attain new high value projects and the continuous improvement in all our operations.”

Antón Pradera, President of CIE Automotive affirms that “our diversified positioning, the integration of very competitive companies and our organic growth over the market levels, allow us to confront the coming quarters with optimism”.

CIE Automotive signed last September a contract for the total acquisition of the Indian company Bill Forge, a company with 80 million euros turnover and presence in Bangalore, Coimbatore, Haridwar and Mexico.

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