Fourth Quarter 2020 HighlightsSales of $10.6 billion increased 12%, compared to higher global light vehicle production of 4%Diluted earnings per share of $2.45, compared to $1.43 in the fourth quarter of 2019Adjusted diluted earnings per share of $2.83, more than double the fourth quarter of 2019Cash from operating activities of $2.3 billion, compared to $1.7… Continue reading Magna Announces Fourth Quarter 2020 Results and Outlook
Author: Magna International Official News
Webkonferenz zu den Ergebnissen für das vierte Quartal und das Jahr 2020 und Ausblick für 2021
AURORA, Ontario, Feb. 01, 2021 (GLOBE NEWSWIRE) — Magna International Inc. (TSX:MG) (NYSE:MGA)INVESTORENKONTAKTLouis Tonelli, Vice-President, Investor Relationslouis.tonelli@magna.com 905-726-7035WEBKONFERENZ-KONTAKTNancy Hansford, Executive Assistant, Investor Relationsnancy.hansford@magna.com 905-726-7108 Go to Source
Magna Expands With Fisker: Secures Full ADAS System Business
Complements EV platform sharing, vehicle engineering and manufacturing cooperationDelivers complete set of ADAS features and unique suite of software packagesIncludes first-to-market digital imaging radar technologyAURORA, Ontario, Jan. 04, 2021 (GLOBE NEWSWIRE) — Magna today confirmed that it is collaborating with Fisker to develop an Advanced Driver Assistance System (ADAS), which will be applied to the… Continue reading Magna Expands With Fisker: Secures Full ADAS System Business
New Year Brings New CEO for Magna
21-year company veteran Swamy Kotagiri takes the helm at MagnaFormer Magna President and CTO blends strategic vision, leadership capabilities and technical expertiseAURORA, Ontario, Jan. 04, 2021 (GLOBE NEWSWIRE) — Last October, Magna’s Board of Directors announced the appointment of Swamy Kotagiri as Magna’s next Chief Executive Officer, effective January 1, 2021. Today, Kotagiri begins his… Continue reading New Year Brings New CEO for Magna
Magna Announces Third Quarter 2020 Results
Sales of $9.1 billion decreased 2%, compared to 4% lower global light vehicle productionRecorded non-cash impairment charges of $200 million after income taxes and loss attributable to non-controlling interests related to our investment in an equity accounted transmissions joint ventureDiluted earnings per share of $1.35, compared to diluted loss per share of $0.75 in the… Continue reading Magna Announces Third Quarter 2020 Results
Magna’s CLEARVIEW Camera Monitoring System to Debut In 2022
Complete camera monitoring system with advanced featuresCombines expertise in exterior/interior mirrors, cameras, electronics and softwareImproves driver visibility and safety with customizable field of viewsAURORA, Ontario, Oct. 27, 2020 (GLOBE NEWSWIRE) — After winning new business across multiple vehicle models for a global automaker, it’s official: Magna’s CLEARVIEW™ technology will enter the market in 2022. Using… Continue reading Magna’s CLEARVIEW Camera Monitoring System to Debut In 2022
Magna Names Seetarama (Swamy) Kotagiri Chief Executive Officer
Kotagiri, current Magna President and 21-year company veteran, to succeed Don WalkerWalker to retire at end of 2020 after 15 consecutive years as CEO, 33 years with MagnaMedia conference call to be held today, October 20, at 8 a.m. EDTAURORA, Ontario, Oct. 20, 2020 (GLOBE NEWSWIRE) — Magna announced today that its Board of Directors… Continue reading Magna Names Seetarama (Swamy) Kotagiri Chief Executive Officer
Magna Deepens Partnership With Honglizhixin to Bolster Seating Capabilities in China
Magna to acquire majority ownershipIncreases footprint with Honglizhixin from two to 12 manufacturing plantsDemonstrates commitment to grow in the China marketSHANGHAI, Sept. 03, 2020 (GLOBE NEWSWIRE) — Magna has signed an agreement to acquire majority ownership of Honglizhixin (HLZX), a major seat supplier to Chinese automakers. The acquisition will expand Magna’s seating capabilities across China.… Continue reading Magna Deepens Partnership With Honglizhixin to Bolster Seating Capabilities in China
Magna Announces Second Quarter 2020 Results
Light vehicle production in North America and Europe, our most significant production markets, down 70% and 59%, respectively; global light vehicle production down 42%Estimated COVID-19 impacts of approximately $5.5 billion on sales, $1.2 billion on both income from operations before income taxes and Adjusted EBITSales of $4.3 billion decreased 58%, diluted (loss) earnings per share… Continue reading Magna Announces Second Quarter 2020 Results
Magna Announces Senior Notes Offering
AURORA, Ontario, June 08, 2020 (GLOBE NEWSWIRE) — Magna International Inc. (TSX: MG; NYSE: MGA) today announced that it has entered into an underwriting agreement providing for the issuance of U.S.$750 million aggregate principal amount of its senior unsecured notes pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission… Continue reading Magna Announces Senior Notes Offering