Magna International said it booked record sales of US$8.96bn for the second quarter to 30 June, 2013, up 16% year on year in a period when vehicle production increased 7% in North America and declined 1% in Europe.
Complete vehicle assembly sales increased 23% to $796m and complete vehicle assembly volume was up 17% to about 39,000 units.
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Operating income rose $73m to $543m, net income was up $66m to $415m and earnings per share increased 30 cents to $1.78.
First half sales were also a record – up 13% to $17.32bn as vehicle production increased 4% to 8.3m units in North America and fell 5% to 9.8m units in Europe.
Complete vehicle assembly sales increased 28% to $1.59bn (from $1.24bn in H1 2012) and volume rose 21% to around 76,000 units.
Operating income taxes was up $91m to $1bn, net income up $92m to $784m and earnings per share rose 41 cents to $3.35.
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By GlobalData
