Cie Automotive, S.A. Reports Consolidated Earnings Results for the Full Year 2011; Provides Earnings Guidance for the Year 2012
March 07, 2012 at 09:21 am EST
Share
Cie Automotive, S.A. reported consolidated earnings results for the full year 2011. For the period, turnover was EUR 1,839.7 million against EUR 1,591.1 million last year. Adjusted turnover was EUR 1,673.3 million against EUR 1,429.3 million last year. EBITDA was EUR 234.1 million against EUR 193.3 million last year. EBIT was EUR 144.9 million against EUR 112.1 million last year. EBT was EUR 87.8 million against EUR 65.4 million last year. Net income was EUR 60.6 million against EUR 41.4 million last year.
The company expects a double digit increase of the result in 2012. The company expects to double 2010 net income in 2013.
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, S.A. 
