CIE Automotive, S.A. Reports Earnings Results for the First Quarter Ended March 31, 2023
May 08, 2023 at 11:35 pm
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CIE Automotive, S.A. reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported sales was EUR 1,008.1 million compared to EUR 914.4 million a year ago. Net income was EUR 90 million compared to EUR 82.2 million a year ago.
CIE Automotive SA is a Spain-based company engaged, through its subsidiaries, in the production of biofuels, as well as in the supply of components and subassemblies for the automotive industry. The Company is also involved in the Information Technology (IT) sector, with the provision of technological solutions for the healthcare, education, sustainability, transport and communications sectors. The Company is a parent of Grupo CIE Automotive, a group which comprises a number of controlled entities with operations established in Spain, Portugal, France, Lithuania, Morocco, Czech Republic, Romania, Brazil, Argentina, China, Russia, Guatemala and Mexico, among others. The Company has such subsidiaries as Global Dominion Access SA, CIE Inversiones e Inmuebles Sociedad Limitada and CIE Berriz Sociedad Limitada, among others. In February 2014, the Company acquired a 50% stake in RS Automotive NV owned by VEP Fund I Holding Cooperatief WA.