CIE Automotive (CIE) Q1 2026 earnings summary

Executive summary

• Achieved 10.4% sales growth at constant currency in Q1 2026, with half organic and half inorganic growth, outperforming the global automotive market by 9 points.

• Entered 2026 from a position of strength, with a solid industrial model delivering profitable growth, industry-leading margins, and strong cash generation despite a challenging environment.

• Completed the 2021-2025 plan and launched a new phase focused on disciplined execution, selective investment, and sustained value creation.

• Guidance for 2026-2027 reconfirmed: grow above market, maintain profitability, and strengthen financial position.

Financial highlights

• Q1 sales surpassed EUR 1 billion; EBITDA reached EUR 200.5 million (19.1% margin); EBIT EUR 152 million (14.4% margin); net profit EUR 96.3 million (+2.3% YoY).

• Operating cash flow was EUR 136.4 million, representing over 70% EBITDA conversion.

• Currency depreciation negatively impacted sales by 7% (EUR 60 million), EBITDA by EUR 12 million, and net profit by EUR 6 million.

• Net debt stable at EUR 1.04 billion (NFD/EBITDA 1.3x); liquidity at EUR 1,577.9 million at March 2026.

Outlook and guidance

• 2026-2027 guidance targets above-market growth, profitability excellence, sector consolidation, and increased dividends.

• Commitment to defend excellent profit margins and maintain EBITDA-to-FFO conversion ratio of 65%.

• Dividend payout policy set at 42% for 2026 and 50% for 2027.

• Q2 expected to be solid with good margins and no major disruptions anticipated.