CIE Automotive reaches 3,012 million turnover in the first nine months of the year; Also noteworthy is the strong operating cash generation, which exceeds 350 million euros in the period
Published on 10/30/2024 at 11:30,
updated on 10/30/2024 at 11:31
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Bilbao - CIE Automotive today published the results of the first nine months of the year, demonstrating one more quarter its magnificent performance and strengthening its positioning as one of the most profitable companies in the industry.
Thus, the company has invoiced in the period 3,012.5 million euros, 1.3% more than in the same period of 2023, with an EBITDA - gross operating result of 559.2 million, which exceeds 18.6% margin on sales, and an EBIT net operating result of 419.3 million, which represents 13.9% margin on sales.
Excellent operating results are completed with a profit of 258,8 million euros and an operating cash generation of 354,9 million euros, and which turn the results of these first nine months into a new milestone for CIE Automotive.
According to Jesus Maria Herrera, CEO of CIE Automotive, Although the sector is suffering sharply, we continue to grow thanks to our flexible and diversified business model, which takes advantage of opportunities in different geographies to maximize performance.
And continue: Our main focus is always, and now more than ever, cash flow, which means continuously adjusting our strategy to the changing needs of the environment, with the aim of meeting our commitment to reach approximately 500 million euros of operating cash generation by 2025.
CIE Automotive SA is a Spain-based company engaged, through its subsidiaries, in the production of biofuels, as well as in the supply of components and subassemblies for the automotive industry. The Company is also involved in the Information Technology (IT) sector, with the provision of technological solutions for the healthcare, education, sustainability, transport and communications sectors. The Company is a parent of Grupo CIE Automotive, a group which comprises a number of controlled entities with operations established in Spain, Portugal, France, Lithuania, Morocco, Czech Republic, Romania, Brazil, Argentina, China, Russia, Guatemala and Mexico, among others. The Company has such subsidiaries as Global Dominion Access SA, CIE Inversiones e Inmuebles Sociedad Limitada and CIE Berriz Sociedad Limitada, among others. In February 2014, the Company acquired a 50% stake in RS Automotive NV owned by VEP Fund I Holding Cooperatief WA.
CIE Automotive reaches 3,012 million turnover in the first nine months of the year; Also noteworthy is the strong operating cash generation, which exceeds 350 million euros in the period
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