Bilbao, 4.5.2023 - CIE Automotive presented today its results for the first quarter of 2023 during the General Shareholders' Meeting held at the Euskalduna Palace in Bilbao.
During the event, the company announced that it had a turnover in this quarter of 1,008 million euros, 10.3% more than in the same period of 2022, with an EBITDA - gross operating profit - of 179.3 million, which has grown by 13.8%, and an EBIT - net operating profit - of 134.3 million, which has grown by 14.3%.
These figures, together with a quarterly profit of 90 million euro - the highest in its history - and operating cash flow generation of more than 100 million euro, make the results for the first quarter of 2023 a new milestone for CIE Automotive.
According to Jesús María Herrera, CEO of CIE Automotive, "These results are the outcome of our successful business model, our strategic positioning in high-growth markets and, above all, the excellent work of the entire CIE Automotive team".
And regarding CIE's ongoing Strategic Plan, he adds: "In the first two years of this five-year plan, we have achieved 70% of our growth goal and more than 60% of our operating cash flow goal. With this magnificent performance and with our good prospects for the coming years, we can confirm that we are keeping all our commitments for 2025".
CIE Automotive reports a first quarter with double-digit growth in sales and results
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CIE Automotive reports a first quarter with double-digit growth in sales and results
04/05/2023
The company reports quarterly net profit of 90 million, the highest in its history.
