CIE AUTOMOTIVE: 9M’23 RESULTS AND CHANGE OF RECOMMENDATION TO BUY (ANÁLISIS BANCO SABADELL)
3Q'23 vs. 3Q'22 ResultsSales: € 963.4 M (-3.3% vs. -5.3% BS(e) and -5.1% consensus);
EBITDA: € 172.8 M (+2.9% vs. -2.0% BS(e) and -1.1% consensus);
EBIT: € 127.0 M (+9.5% vs. +2.2% BS(e) and +3.4% consensus);
Net Profit: € 75.2 M (+0.6% vs. -8.7% BS(e) and -6.7% consensus);
9M'23 vs. 9M'22 Results
Sales: € 2.975 Bn (+4.1% vs. +3.4% BS(e) and +3.5% consensus);
EBITDA: € 536.7 M (+10.2% vs. +8.5% BS(e) and +8.8% consensus);
EBIT: € 397.1 M (+14.1% vs. +11.7% BS(e) and +12.1% consensus);
Net Profit: € 253.5 M (+7.9% vs. +4.9% BS(e) and +5.5% consensus);
CIE Automotive is the parent company of an industrial group formed by several companies that are engaged in the design, manufacture and sale of automobile component and sub-units on the world market. In addition, Co. is also engaged in the bio-fuels business which is in the initial stages of development and is made up of various companies devoted to the production and distribution of bio-fuels.
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