CIE Automotive (CIE) Q3 2026 earnings summary

Executive summary

• 9M sales reached €3,140.9m, with 8.7 p.p. outperformance against a 0.7% market decline; EBITDA margin was 19.0% and operating cash flow was €408.5m.

• Management reaffirmed its 2026–2027 roadmap of market outperformance, margin defense, acquisition integration and financial discipline.

Financial highlights

• 9M sales were €3,140.9m, EBITDA €596.5m, EBIT €444.6m and net income €274.8m; net income rose 3.2% YoY.

• 9M EBITDA margin was 19.0% and EBIT margin 14.2%, versus 14.1% in 9M 2025.

• Q3 sales were €1,037.2m, EBITDA €195.5m and net income €83.5m; EBITDA margin was 18.8% and EBIT margin 13.9%.

• Q3 currency impact was virtually neutral, as favorable dollar and real movements offset the adverse Indian rupee.

Outlook and guidance

• 2026–2027 organic commitment: low- to mid-single-digit sales outperformance in constant currencies and defense of 2025 profit margins.

• Cash targets: 65% EBITDA-to-FFO conversion and cumulative FFO above €1bn in 2026–2027; dividend payout targets are 42% in 2026 and 50% in 2027.

• With ongoing 33% payout, NFD/EBITDA is targeted below 0.7x by year-end 2027; priorities include acquisition integration and operational excellence.

• Global vehicle production is estimated to decline 2% in 2026, including a projected 4% drop in Q4; medium- to long-term growth is expected at 1%–2% annually through 2030.

• Management expects North American performance to recover as USMCA rules and production decisions become clearer; Brazilian CKD tariffs and Chinese measures may also affect regional markets.