CIE Automotive (CIE) Q2 2026 earnings summary

Executive summary

• Achieved strong profitable growth in H1 2026, with revenue reaching €2,164.9 million and net income of €191.3 million, up 2.9% year-over-year, outperforming the global automotive market by over 10 points at constant exchange rates.

• Maintained industry-leading EBITDA and EBIT margins of 19.1% and 14.3%, respectively, with robust cash generation and operating cash flow at €275.1 million (71.2% of EBITDA).

• Integration of Aludec S.A. contributed significantly to inorganic growth, margin improvement, and expanded manufacturing footprint in Europe and North America.

• Liquidity reserve stood at €1,641.7 million, ensuring business continuity through 2027.

• Disciplined execution and ongoing M&A activity supported investment, growth, and shareholder returns.

Financial highlights

• H1 2026 sales reached €2,164.9 million, EBITDA at €401.1 million, EBIT at €300.5 million, and net income at €191.3 million.

• Q2 2026 sales were €1,051.5 million, EBITDA €200.6 million, EBIT €148.4 million, and net income €95.0 million.

• Operating cash flow for H1 2026 was €275.1 million, representing 71.2% of EBITDA.

• Net financial debt increased to €962.4 million, with NFD/EBITDA at 1.19x.

• Dividend of €0.47 per share paid in July 2026, totaling €55.7 million.

Outlook and guidance

• Guidance reaffirmed for continued outperformance and margin improvement, with low- to mid-single-digit sales outperformance targeted at constant currencies.

• Management expects sufficient cash generation in H2 2026 and 2027 to meet obligations without increasing net debt.

• New dividend policy: payout ratio of 42% in 2026, rising to 50% in 2027.

• Leverage expected to decrease, with NFD/EBITDA targeted below 0.7x by end-2027.

• No liquidity risk identified; all financing covenants are met.