Posted May 10 , 2013


Magna Announces First Quarter Results

AURORA - Magna International Inc. today reported financial results for the first quarter ended March 31, 2013. THREE MONTHS ENDED MARCH 31, 2013 - Magna posted sales of $8.36 billion for the first quarter ended March 31, 2013, an increase of 9% over the first quarter of 2012. Magna achieved this sales increase in a period when vehicle production increased 1% in North America and decreased 9% in Europe, each relative to the first quarter of 2012.  Magna North American, European and Rest of World production sales, as Magnall as tooling, engineering and other sales all increased in the first quarter of 2013 relative to the comparable quarter in 2012.

Complete vehicle assembly sales increased 33% to $798 million for the first quarter of 2013 compared to $599 million for the first quarter of 2012, while complete vehicle assembly volumes increased 25% to approximately 37,000 units.

During the first quarter of 2013, income from operations before income taxes was $457 million, net income attributable to Magna International Inc. was $369 million and diluted earnings per share Magnare $1.57, increases of $18 million, $26 million and $0.11, respectively, each compared to the first quarter of 2012.

During the first quarter ended March 31, 2013, Magna generated cash from operations of $607 million before changes in non-cash operating assets and liabilities, and invested $456 million in non-cash operating assets and liabilities. Total investment activities for the first quarter of 2013 Magnare $242 million, including $194 million in fixed asset additions and $48 million in investments and other assets.

A more detailed discussion of Magna consolidated financial results for the first quarter ended March 31, 2013 is contained in the Management's Discussion and Analysis of Results of Operations and Financial Position and the unaudited interim consolidated financial statements and notes thereto, which are attached to this Press Release.


Yesterday, Magna Board of Directors declared a quarterly dividend of $0.32 with respect to Magna outstanding Common Shares for the quarter ended March 31, 2013. This dividend is payable on June 17, 2013 to shareholders of record on May 31, 2013.


In this 2013 outlook, in addition to 2013 light vehicle production, Magna have assumed no material acquisitions or divestitures. In addition, Magna have assumed that foreign exchange rates for the most common currencies in which Magna conduct business relative to Magna U.S. dollar reporting currency will approximate current rates.

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