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    Blackberry’s FY'24 revenue grows 30% YOY to $853 million
    Software developer BlackBerry has reported a 30% year-over-year increase in full year 2024 revenue to $853 million, according to a filing on April 3. Net loss for the year narrowed significantly to $130 million from a loss of $734 million last year. Gross margin shrunk to 61% from 63.9% while research and development costs for the year came in 10% lower at $186 million. The increase in revenue was primarily owing to the sale of a legacy patent portfolio for $218 million in the first quarter. ...
    Nexteer Automotive posts 9.6% year-over-year revenue growth in 2023 to $4.2 billion
    On March 26, 2024, Nexteer Automotive, a major global automotive supplier, reported annual results for its fiscal year ended Dec. 31, 2023 — including a new company record of $4.2 billion in revenue. The company reported operating profit of $61.4 million. Net profit attributable to equity holders of 2023 was $36.7 million. While the company’s revenue performance outpaced the market, with an 11.1% year-over-year increase in revenue adjusted for foreign currency and customer commodity recov...
    ZF posts 6.5% year-over-year increase in full-year 2023 group sales to €46.6 billion
    ZF Friedrichshafen has posted a 6.5% year-on-year (y/y) growth in full year 2023 sales to €46.6 billion ($50.66 billion), a company filing on March 21 showed. Adjusted EBIT came in at €2.4 billion compared to €2 billion a year earlier while adjusted EBIT margin was 5.1% compared to 4.7% in 2022. Net profit fell to €126 million from €376 million due to significantly higher income taxes for the year. The company spent €3.5 billion in R&D during the year, up from €3.4 billion it s...
    Autoneum posts 27.6% YOY increase in FY 2023 revenue to $2.62 billion
    Autoneum has reported a 27.6% year-over-year increase in fiscal year 2023 revenue to CHF2.3 billion, in a press release dated March 13. The overall revenue increase was driven by a 17.4% increase in revenue for its Business Group North America and a 22.1% increase in revenue for its Business Group SAMEA.  Autoneum’s revenue in local currencies grew by 34.8% in 2023, supported by both organic and inorganic growth, as well as a favorable market environment. The company's earnings before ...
    Valeo posts 11% YOY increase in FY 2023 sales to $23.87 billion
    Valeo has reported an 11% year-over-year increase in fiscal year 2023 sales to €22.04 billion, it said in a press release dated Feb. 29. Net income for the year fell to €221 million from €230 million a year earlier. Research and development expenses for the year increased by 8% to €2.04 billion. The company’s aftermarket sales was little changed at €2.27 billion. Sales was driven by growth across all business verticals — the Comfort & Driving Assistance Systems Business...
    Sogefi posts 5.5% increase in FY 2023 sales to $1.76 billion
    Sogefi has reported a 5.5% year-over-year increase in sales for fiscal 2023 to €1.63 billion, it said in a press release dated Feb. 23. Net result for the year almost doubled to €57.8 million from €29.6 million last year. Earnings before interest and tax grew nearly 50% to €105.2 million. Manufacturing and research and development costs for the year was €129.1 million from €119.4 million last year. Revenue grew in most regions throughout the year, led by a 10% increase in Eur...
    STMicroelectronics publishes annual report for 2023, available on website and by request
    STMicroelectronics (ST) has reported an increase of 7.2% in fiscal year 2023 net revenue at $17.29 billion for the year ended Dec. 31, 2023, according to a company press release on Feb. 15, 2024. ST reported fourth-quarter net revenue of $4.28 billion, gross margin of 45.5%, operating margin of 23.9% and net income of $1.08 billion. Automotive and Discrete Group (ADG) revenue increased for both Automotive and Power Discrete. The operating profit increased by 39.7% to $657 million. ...
    Elmos posts 28.6% YOY increase in FY 2023 sales to $616 million
    Elmos Semiconductor has reported a 28.6% year-over-year sales growth for full year fiscal 2023 at €575 million, according to a company press release on Feb. 15. Earnings before interest and tax improved by 36.8% to €150.7 million. The EBIT margin rose to 26.2% from 24.6%. For the full year, net income rose to €99.1 million from €71.4 million. Research and Development expenses was €68.8 million compared to €55.5 million last year. For the fourth quarter of fiscal 2023, sales c...
    Visteon posts total revenues of $3.9 billion in FY 2023, a 5% growth YOY
    Visteon Corp. reported a net sale of $3,954 million in fiscal year 2023, an increase of 5% year over year. The gross margin was $487 million, and the net income was $486 million. It posted an adjusted earnings before interest, taxes and amortization of $434 million, an increase of $86 million compared to the prior year. The increase in adjusted EBITDA primarily reflects the impact of higher sales while leveraging an efficient cost structure with modest increases in engineering and SG&A ...
    Forvia Hella reports total sales of €8.1 billion in FY 2023, up 10.3% YOY
    Hella GmbH Co. (Forvia Hella) on Feb. 16 released the preliminary results for fiscal year 2023, reporting group sales improvement by 10.3% to €8.0 billion as compared to €7.2 billion in 2022. Operating income increased by about 65% to €486 million against €295 million in 2022. Significance: The company said all business segments recorded higher sales and improved profitability in the year. The Lighting Business Group increased its sales by 13% to €3.9 billion, while the Electro...
    Garrett Motion reports 8% YOY increase in FY 2023 net sales to $3.89 billion
    Garrett Motion posted net sales of $3.89 billion for fiscal 2023, up 8% over last year, it said in a press release dated Feb. 15. Net income for the year dropped 33% to $261 million, while net income margin fell to 6.7% from 10.8% in the previous corresponding period. For the fourth quarter, net sales increased 5% to $945 million, while net income more than halved to $52 million. Net income margin was slashed to 5.5% from 12.5%. Net income for the fourth quarter was lower due to $21 million o...
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