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.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
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.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataIt forecast a circa-5% operating margin.
