Magna’s fourth quarter profit increased to $312 million

Article by Christian A., on February 26, 2012

Magna International Inc.’s quarterly earnings rose significantly as auto production surged in North America. In the fourth quarter, Magna’s profit increased to $312 million, compared with earnings of $224 million in the same quarter the previous year. For the latest quarter, the sales at North America's biggest auto parts maker increased by 13% to $7.25 billion, boosting revenue for the full-year of 2011 to $28.7 billion.

Its vehicle production climbed 15% in North America from the same quarter the previous year. However, it fell 4% in Europe. Magna said that for 2012, it remains focused on improving its European operations and the launch of its new facilities. Magna predicted that this year’s sales will reach $28 billion to $29.5 billion.

Its vehicle production in North American increased by 10% to 13.1 million vehicles in 2011. These include a 15% increase in the fourth-quarter to 3.43 million units. The U.S. sales of cars and light trucks rose by 10% to 12.8 million last year. Furthermore, Magna was able to raise its dividend to 27.5 cents a share from 25 cents. This is its first increase since February 2011.

Topics: magna, profit

If you liked the article, share on:

Comments

Recommended

During car crashes and accidents, there are times that its occupants can’t get out easily. There are times when the only way to get out of that situation is to...
by - February 23, 2017
Could this be a special version of Ferrari’s much acclaimed LaFerrari? No matter how we look at it, the patent images for this sports car from Ferrari indicate its striking...
by - February 23, 2017
How fast can a 2017 Chevrolet Camaro ZL1 actually go? Considering the amount of power lurking underneath its line-laden bonnet, the 2017 Camaro ZL1 is capable of achieving a top...
by - February 23, 2017
As it turned out, we’ll be seeing Toyota’s new super supermini at the 2017 Geneva Motor Show in March. It’s time we all get to meet the new Toyota Yaris...
by - February 23, 2017
Opel revealed it has sweetened the pot for 2017 Insignia Grand Sport customers with the Opel Exclusive program. Through this program, the brand hopes to introduce a wide selection of...
by - February 22, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries