Magna International full year sales rose 39% year on year in 2010 to US$24.1bn. Operating income was $1.2bn, net income was $973m and earnings per share were $4.18, increases of $1.7bn, $1.5bn and $6.39, respectively.
Vehicle production increased 39% to 12m units in North America and 12% to 13.3m units in Europe.
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North American and European average dollar content per vehicle increased 13% and 8% respectively.
Complete vehicle assembly sales increased 23% to $2.2bn and volume increased 52% to approximately 86,000 units.
CEO Don Walker said: “In 2010, Magna benefitted from a strong recovery in vehicle production, both in our primary markets of North America and western Europe as well as globally.”
For 2011, Magna expects sales between $25.6bn and $27.1bn based on full year 2011 light vehicle production volumes of approximately 12.9m units in North America and approximately 13.3m units in western Europe.
It forecast a circa-5% operating margin.
