Magna has posted fourth quarter net income up 11% to US$509m, with sales of US$9.4bn, up 2%.
Full-year sales were US$36.6bn, an increase of 5%, with this reflecting increases in North America, Europe and Asia production figures, coupled with higher tooling, engineering and other volumes.
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There were also more complete vehicle assembly sales, partially offset by lower Rest of World production numbers.
“We are pleased with last year’s strong financial performance, which was the direct result of improved operating earnings in every reporting segment compared to 2013,” said Magna CEO, Don Walker.
“While the recent strengthening of the US dollar has impacted our reported results, we remain optimistic about Magna’s future and continue to invest heavily in capital and innovation to support our future growth in North America, Europe and Asia.
“This growth reinforces the trust our customers place in Magna to be one of their key supplier partners as they expand around the world.”
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