CIE AUTOMOTIVE: MESSAGES FROM THE FY2022 RESULTS CONFERENCE CALL AND CHANGE OF RECOMMENDATION TO SELL (ANÁLISIS BANCO SABADELL)
Highlights from yesterday’s FY2022 results conference call: CIE & Sector Performance: HIS estimate for 2023 is +3% growth globally (+3.6% for CIE’s footprint vs. +3.5% for CIE at organic level in 2023e). Long-term, HIS estimates a CAGR’23-37e of +3% globally (vs. +2.2% CIE organically BS(e)). The company expects margins to improve in 2023 (+70bps in the EBITDA margin BS(e)) and Net Profit to increase (+6.6% BS(e)).
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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