Spanish parts maker Cie Automotive’s nine-month net profits nearly tripled to EUR31.3m as revenues soared 43%, boosted by a strong performance of its business in the emerging markets.
Turnover totalled EUR1.2bn while EBITDA increased 81% to EUR147.2m.
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The company claimed revenues and EBITDA between October 2009 and September 2010 rose the most in its history, mirroring pre-crisis growth levels.
It said the emerging markets and a slight recovery in Europe’s automobile market, coupled with cost cutting efforts, helped boost its fortunes.
Cie supplies auto parts to major manufacturers including Renault, VW and PSA Peugeot Citroen in Spain, and to markets in South America and Eastern Europe.
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