Magna International posted third quarter record sales up 7% year on year to US$9.5bn for the quarter ended 30 September, 2017.

During the period, European light vehicle production increased 8% and North American light vehicle production decreased 7%.

Complete vehicle assembly sales increased 55% due to the launch of the BMW 5-Series at the assembly factory in Graz, Austria, following the end of production of the Mini Countryman and Paceman in 2016.

Q3 income from operations before income taxes was $670m, compared to $692m in Q3 2016. Net income was flat at $503m.

Adjusted EBIT decreased 3% to $692m.

Sales in the first nine months of 2017 rose 5% to $28.56bn as North American light vehicle production decreased 3% and European light vehicle production increased 3%.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Income from operations before income taxes was $2.24bn, net income $1.65bn and earnings per share $4.37, increases of $104m, $97m and $0.45, compared to the first nine months of 2016.

Adjusted EBIT increased 4% to $2.3bn.