Bilbao, 20.10.2021- CIE Automotive continued its growth path in the first nine months of the year with revenues of €2,456.7 million, 23% higher than in the same period of 2020, and net profit of €206.1 million, up 75%.
In addition, in the period its EBITDA - gross operating profit - was 434.2 million, 17.7% of sales and 53% more than in the same period in 2020, and its EBIT - net operating profit - reached 281.3 million, up 95%, which represents record operating margins for a third quarter in the group's current perimeter.
With these results, the company is at pre-covid levels despite the negative impact of the exchange rate and the fact that 10 million fewer vehicles have been produced so far in 2021 than in the first nine months of 2019.
According to Jesús María Herrera, CEO of CIE Automotive, "even with all the current market dysfunctionalities, which are stressing supply chains as never before (logistical disruptions, semiconductor shortages, rising raw material and energy prices, etc.), our commitment to value creation and to our shareholders remains intact".
He continues: "This is reflected in the good performance of the business, and in key aspects such as the 26% growth - 16.5 points above the market - and the excellent evolution of the company's debt ratios in the last 12 months”.