Cie Automotive, S.A. Announces Group Earnings Results for the First Quarter Ended March 31, 2012; Provides Earnings Guidance for the Year 2012 and 2013
April 24, 2012
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Cie Automotive, S.A. announced group earnings results for the first quarter ended March 31, 2012. For the quarter, the company reported turnover of EUR 429.5 million against EUR 488.8 million for the same period a year ago. Adjusted turnover was EUR 420.1 million against EUR 442.6 million for the same period a year ago. EBITDA was EUR 60.5 million against EUR 63.3 million for the same period a year ago. EBIT was EUR 36.7 million against EUR 41 million for the same period a year ago. EBT was EUR 25.4 million against EUR 31.6 million for the same period a year ago. Net income was EUR 18 million against EUR 18.9 million for the same period a year ago.
The company announced that it a double digit increase of the result in 2012 and the company expects to double 2010 net income in 2013.
CIE Automotive SA is a Spain-based company engaged, through its subsidiaries, in the production of biofuels, as well as in the supply of components and subassemblies for the automotive industry. The Company is also involved in the Information Technology (IT) sector, with the provision of technological solutions for the healthcare, education, sustainability, transport and communications sectors. The Company is a parent of Grupo CIE Automotive, a group which comprises a number of controlled entities with operations established in Spain, Portugal, France, Lithuania, Morocco, Czech Republic, Romania, Brazil, Argentina, China, Russia, Guatemala and Mexico, among others. The Company has such subsidiaries as Global Dominion Access SA, CIE Inversiones e Inmuebles Sociedad Limitada and CIE Berriz Sociedad Limitada, among others. In February 2014, the Company acquired a 50% stake in RS Automotive NV owned by VEP Fund I Holding Cooperatief WA.
Cie Automotive, S.A. Announces Group Earnings Results for the First Quarter Ended March 31, 2012; Provides Earnings Guidance for the Year 2012 and 2013
CIE AUTOMOTIVE, S.A. 
