Bilbao, 19.10.2022– CIE Automotive continued its history of profitable growth despite a very difficult environment, with revenues of 3,032 million euros in the first nine months of the year and net income of 235 million euros, 14.3% more than in the same period of the previous year.
In addition, its EBITDA - gross operating profit - was 495 million, up 14.1%, and its EBIT - net operating profit - reached 350.6 million.
According to Jesús María Herrera, CEO of CIE Automotive, "we want to highlight how our operating margins prove the company's resilience in a complex macroeconomic and industry environment that requires us to compensate with operational excellence the strong negative impacts of variables such as inflation and very high energy costs."
He adds: "Our focus has always been and will always be cash generation, a generation that is currently allowing us to increase the value of the company by reducing debt, while at the same time investing in maximizing shareholder remuneration, with dividends, capital reductions and the acquisition of minority interests".
The good results of recent quarters and the favourable outlook for the coming quarters are enabling the company to maintain its organic growth and profitability commitments for 2025.