Spanish auto parts maker CIE Automotive posted a 6% jump to EUR53.8m in 2008 profits, helped by the strong performance of recently acquired businesses in emerging markets.
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Revenues rose 14% to EUR1.2bn while Ebitda increased 15% to EUR180.6m, Cie said in a regulatory statement.
The Basque Country-based firm said Brazilian, Mexican, and Czech divisions performed well despite a “very negative” year for the global economy.
It said the numbers showed the aggressive acquisition strategy employed in recent years has bore fruit.
Regarding 2009, Cie would not provide an earnings guidance but said it’s “well positioned” to survive the crisis.
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By GlobalDataCie has forecast turnover will reach EUR1.7bn in 2010, backed by acquisitions in western Europe, Russia and India.
The company, which also has an expansionist bioenergy franchise, carries out 52% of its production in emerging markets.
In recent years, it has beefed up its presence in Brasil, Mexico, Czech Republic, Portugal and Romania.
