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CIE Automotive profit misses consensus by 23.6% in H1

CIE Automotive S.A. said its first-half normalized net income amounted to 47 euro cents per share, compared with the S&P Capital IQ consensus estimate of 62 cents per share.

EPS rose 12.6% year over year from 42 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €61.1 million, a gain of 12.6% from €54.3 million in the year-earlier period.

Total revenue came to €1.35 billion, compared with €1.34 billion in the prior-year period, and total operating expenses totaled €1.21 billion, compared with €1.21 billion in the prior-year period.

Reported net income grew 18.9% on an annual basis to €82.4 million, or 64 cents per share, from €69.3 million, or 54 cents per share.