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CIE Automotive challenges the sector with a record profit of 326 million euros in 2024

27/02/2025

Increases sales and results with a high level of cash generation that brings debt to historic lows

Bilbao, 27.2.2025 – CIE Automotive has presented today the results for the 2024 financial year, challenging with significant growth an Automotive industry weakened by uncertainties.

Sales have exceeded 3.96 billion euros, which represents a growth of 1.1%, outperforming by more than 2 basic points the decrease in global vehicle production.

In terms of operating margins, an EBITDA – gross operating profit – of 728 million has been reached, and an EBIT – net operating profit – of 538 million euros, which represents margins of 18.4% and 13.6% respectively, significantly higher than the average margins of the sector.

All of the above results in a record net profit of 326 million which, on a comparable perimeter, represents a growth of almost 5% compared to 2023.

According to Jesús María Herrera, CEO of CIE Automotive, “We continue growing above the market, improving our results, and above all, we continue with an extremely high cash generation that has brought our leverage to historic lows, which, in the current sectoral context, highlights the value of our management model and our positioning as a reference supplier in the global Automotive industry”.

And he adds: “For all these reasons and due to our expectations for the current year, we are in a position to reconfirm that the commitments of the 2025 Strategic Plan will be fulfilled.”

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null CIE AUTOMOTIVE SIGNS ITS FIRST SUSTAINABLE FINANCING AGREEMENT

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CIE Automotive signs its first sustainable financing agreement

17/07/2019

The company has closed a bilateral loan of 80 million euros with BBVA

Bilbao, 18.7.2019 – CIE Automotive has announced today the signature of its first sustainable financing agreement with a commercial bank, for which it has counted on the experience and advice of BBVA.

The Group has closed with the bank a sustainable bilateral loan for a total of 80 million euros, which will be used to partially finance CIE´s investment plan.

The economic conditions of the loan are linked to the ESG (Enviromental, Social and Governance) rating of the company. Vigeo Eiris has been the environmental consultant in charge of issuing the rating report.

Sustainable financing consolidates BBVA's bet for the fight against climate change, as well as reaffirms CIE Automotive's vision for the future, which includes as a priority to keep a balance between industrial activity and environment, minimizing the environmental impact of its activities.

In the words of Jesús María Herrera, Chief Executive Officer, "at CIE we have integrated corporate social responsibility into our management model, developing and promoting ethical and responsible behaviors along the value chain in order to meet the expectations of all our stakeholders. This loan is a new step towards that commitment and reinforces our firm bet to sustainability."

BBVA, a reference in sustainable financing

As an evidence of its firm commitment with the fight against climate change, BBVA approved in 2018 its 2025 Commitment, through which it will use 100,000 million euros until 2025 in green financing, sustainable infrastructures, social entrepreneurship and financial inclusion. The bank has the capacity, the knowledge and the experience to provide its clients with superior advice on sustainable financing solutions and is playing a key role in the development of this market.

In the sustainable loans business, BBVA has been a pioneer and a key driver, and today it is one of the most active entities at a global level and leader in Spain. The bank has led in 2018 a total of 17 transactions in Europe and America for clients from different sectors and has been the entity that has acted on more occasions as coordinator and / or sustainable agent. As of the end of June 2019 it has led other 11 transactions.

About CIE Automotive

CIE Automotive is an industrial group specialized in high value added processes based in Bilbao. It is a global supplier of components and sub-assemblies for the automotive market that offers a business model based on the diversification of technologies, customers and geographies, which gives it a unique positioning and allows the company to supply a wide variety of products to diverse customers located in the main markets worldwide. The group has 113 production plants in 16 countries and employs more than 30,000 people.

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