MADRID, 19 Oct. (EUROPA PRESS) –
The Spanish manufacturer of automobile components CIE Automotive registered a net profit of 235.5 million euros in the first nine months of 2022, which represents a rise of 14.3% compared to the 206 million euros it earned in the same last fiscal year period.
According to the quarterly accounts published this Wednesday by the company, revenues in the first three quarters stood at 3,032 million euros, a 23.4% year-on-year increase (2,456 million in 2021).
The firm explained that this improvement in sales and profits until last September occurred “despite the market crisis and with a performance well above the average for the sector.”
So far this year, the company posted a gross operating profit (Ebitda) of 495 million euros, a 14.1% increase, while the Ebitda margin was 16.3%, 1.4 points less than a year before. Operating profit rose 12.2% to 350.6 million.
In the third quarter of 2022 alone, the company’s net profit reached 75.2 million euros, a 29.8% increase, with a turnover in the period of 1,056 million euros (36.3% more ), scoring the second consecutive quarter with sales above 1,000 million.
Looking ahead to 2025, the company has confirmed its goal of increasing its sales by 20 percentage points above the market, taking into account the current perimeter, while working to exceed an EBITDA margin on sales of 19% by that date. .
Likewise, CIE Automotive plans to make capital investments of around 1,000 million euros in the five-year period, which represents close to 5% of its annual turnover, and it also estimates that it will generate a sustained operating cash flow of 65% of Ebitda (about 500 million from 2025).
