Magna International announces financial outlook

Magna International Inc. today announced its financial outlook for 2012. Don Walker, Magna's Chief Executive Officer commented that the statement is evidence of the company’s success in gaining new business outside of its traditional markets.  “We are taking advantage of the growth opportunities in new markets and positioning Magna to further serve our customers on global platforms.”

For 2012, the company expects consolidated total sales to be between $27.8 billion and $29.3 billion, and consolidated production sales to be between $23.6 billion and $24.7 billion, based on full year 2012 light vehicle production volumes of approximately 13.6 million units in North America and approximately 13.0 million units in Western Europe.  Full year 2012 production sales are expected to be between $13.2 billion and $13.7 billion in North America, between $8.4 billion and $8.7 billion in Europe and between $2.0 billion and $2.3 billion in Rest of World. 

In addition, Magna expects to spend between $1.3 billion and $1.5 billion on fixed assets, an amount that reflects investment to expand in a number of high-growth markets as well as continuing investment to support new and replacement business in traditional markets.

The company also expects a net increase in total production sales over the two-year period from 2012 to 2014 of approximately $3.2 billion, based on assumed full year 2014 light vehicle production volumes of approximately 15.4 million units in North America and approximately 14.2 million units in Western Europe.