Bilbao - CIE Automotive maintains its performance at an all-time high in the first half of the year, reinforcing its position as a benchmark supplier in the Automotive sector.

Thus, the company has billed 2,062.2 million euros in this semester, 2.5% more than in the same period of 2023, with an EBITDA - gross operating profit - of 381.9 million, which represents an 18.5% margin on sales, an EBIT - net operating profit - of 288.1 million, which represents a 14% margin on sales, and a half-year profit of EUR183.9 million, 3.1% more than the previous year.

These operating results are completed with an operating cash generation of EUR242.5 million, which allows the deleveraging of up to 1.45 times the Net Financial Debt / EBITDA ratio and which makes the results of this first half a new success for the company.

According to Jesus Maria Herrera, CEO of CIE Automotive, 'Despite the uncertainties and difficulties of the industry, we continue to grow above the sector and improve our performance, which confirms that our business model, focused on diversification as a risk mitigation factor and cash generation as a top priority, not only does it give us resilience, but it allows us to take advantage of all kinds of opportunities in different geographies, customers and technologies.'

In this regard, he states that 'given the positive evolution of the Strategic Plan and our good prospects for the coming quarters, we can confirm the maintenance of all our 2025 commitments, with CIE Automotive prepared to face major challenges in the medium and long term'.

(C) 2024 Electronic News Publishing, source ENP Newswire