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CIE Automotive full-year profit climbs 77.6% YOY

CIE Automotive SA said its normalized net income for the full year was €1.01 per share, compared with the S&P Capital IQ consensus estimate of €1.01 per share.

EPS increased 71.6% year over year from 59 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €130.5 million, a gain of 77.6% from €73.5 million in the prior-year period.

The normalized profit margin climbed to 5.0% from 3.3% in the year-earlier period.

Total revenue climbed 19.1% on an annual basis to €2.63 billion from €2.21 billion, and total operating expenses rose 16.3% year over year to €2.37 billion from €2.04 billion.

Reported net income grew 59.5% year over year to €129.8 million, or €1.01 per share, from €81.4 million, or 65 cents per share.