Company Profile For Magna International Inc.

Magna International Inc. (MGA.N) (New York Stock Exchange)

sector: Cyclical Consumer Goods & Services · industry: Auto/Truck/Motorcycle Parts ·

As of 25 Nov 2009

49.95USD

Price Change

+0.62

Percent Change

+1.26%

Analyst Recommendations

Overview

Magna International Inc. (Magna) is a diversified global automotive supplier. The Company designs, develops and manufactures automotive systems, assemblies, modules and components, and engineer and assemble complete vehicles, primarily for sale to original equipment manufacturers (OEMs) of cars and light trucks. As of December 31, 2008, it had 240 manufacturing divisions and 86 product development, engineering and sales centers in 25 countries. The Company’s operations are segmented on a geographic basis between North America, Europe and Rest of World (primarily Asia, South America and Africa). In October 2008, the Company acquired BluWav Systems LLC. During the year ended December 31, 2008, the Company also acquired Technoplast, a supplier of plastic exterior and interior components.

Quick Financial Synopsis

BRIEF: For the nine months ended 30 September 2009, Magna International Inc.'s revenues decreased 37% to $11.95B. Net loss totaled $354M vs. an income of $219M. Revenues reflects a decrease in sales in North American and lower complete vehicle assembly sales. Net loss reflects a decrease in gross margins, the presence of interest expenses net vs. an interest income due to decrease in interest income earned due to lower interest rates.