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CIE Automotive Q3 profit climbs 23.1% YOY

CIE Automotive S.A. said its third-quarter normalized net income amounted to 22 euro cents per share, a gain of 22.6% from 18 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €28.6 million, an increase of 23.1% from €23.3 million in the year-earlier period.

The normalized profit margin climbed to 4.0% from 3.7% in the year-earlier period.

Total revenue increased 14.2% year over year to €720.8 million from €630.9 million, and total operating expenses increased 14.0% on an annual basis to €649.5 million from €569.5 million.

Reported net income increased 38.7% on an annual basis to €40.5 million, or 31 cents per share, from €29.2 million, or 23 cents per share.