In February 2015, Magna released its fourth quarter financial report. The data showed that the company’s sales, operating profit, and net profit all increased in the fourth quarter.
In the fourth quarter of 2014, Magna achieved sales of $9.396 billion, an increase of 2% from the same period in 2013; operating profit increased from $514 million in the fourth quarter of 2013 to $677 million, an increase of 31.7%; net profit was US$509 million, an increase of 11.1% year-on-year, and US$458 million in the same period of 2013.
Regionally, the main drivers of growth in the fourth quarter were North America and Asia. Driven by the increase in output and the launch of new projects, the company’s sales in North America also increased accordingly; while sales growth in Asia was mainly attributed to the increase in output of existing projects and the launch of new projects, including those in China. The increase is particularly noticeable.
In 2014, Magna realized sales revenue of US$36.64 billion, an increase of 5% over the previous year, reaching a record high.
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