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Magna expects continued growth in sales, improvement in EBIT margin over next three years

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Company ends two-year-old collaboration to develop self-driving technology

Magna has released its financial outlook for 2020 and 2022, expecting continued growth in sales and improvement in EBIT margin, the company said in a press release on 16 January. For 2022, Magna forecasts sales in the range of USD40.5 billion to USD43.5 billion and EBIT margin in the range of 7.6% to 8%. The company’s forecasts for 2022 is based on assumption that light vehicle production in North America and Europe, the two main market of Magna, will be 16.3 million and 21.6 million in 2022.

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