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    MG   CA5592224011

MAGNA INTERNATIONAL INC.

(MG)
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Magna Secures Business For Hybrid Dual-Clutch Transmission Program

12/02/2021 | 08:01am EST
  • Next generation compact and mid-size transmissions launching in 2025 with Mercedes-Benz

  • Two HDT programs to launch in the coming months with additional global OEMs

  • Shift to hybrid electric DCTs provides long-term stability for transmission business

AURORA, Ontario, Dec. 02, 2021 (GLOBE NEWSWIRE) -- With the shift to electrified vehicles speeding up in society’s pursuit of cleaner and more efficient mobility, Magna is enabling global automakers to electrify their vehicle platforms with a full range of hybrid and fully electric powertrain solutions. The company has today confirmed that it has received a Hybrid Dual-Clutch Transmission (HDT) award from Mercedes-Benz for next generation compact and mid-size vehicles, further demonstrating Magna’s continuing transformation in the electrification of mobility.

“This award is a result of our long-term collaboration with Mercedes-Benz and their trust in our transmission technology expertise. It confirms that hybrid technologies play a key role on the path to electrification and highlights the value of a diverse powertrain portfolio in the transition toward electrification,” said Swamy Kotagiri, Magna’s Chief Executive Officer.

Magna’s powertrain expertise is supplying power to the wheels, regardless of the power source. The company is able to supply traditional products as well as electrified components and systems to automakers as they migrate their vehicle offerings toward hybrid and electric vehicles.

Two other HDT programs will launch in the coming months with global OEMs as the company further extends its foothold into powertrain electrification.

TAGS
Powertrain electrification, hybrid DCT, HDT, transmissions

INVESTOR CONTACT
Louis Tonelli, Vice-President, Investor Relations
louis.tonelli@magna.com, 905.726.7035

MEDIA CONTACT
Tracy Fuerst, Vice President, Corporate Communications & PR
tracy.fuerst@magna.com, 248.761.7004

ABOUT MAGNA
Magna is more than one of the world’s largest suppliers in the automotive space. We are a mobility technology company with a global, entrepreneurial-minded team of 154,000 employees and an organizational structure designed to innovate like a startup. With 60+ years of expertise, and a systems approach to design, engineering and manufacturing that touches nearly every aspect of the vehicle, we are positioned to support advancing mobility in a transforming industry. Our global network includes 347 manufacturing operations and 90 product development, engineering and sales centres spanning 28 countries.

For further information about Magna [(NYSE:MGA; TSX:MG)], please visit www.magna.com or follow us on Twitter @MagnaInt.

THIS RELEASE MAY CONTAIN STATEMENTS WHICH CONSTITUTE “FORWARD-LOOKING STATEMENTS” UNDER APPLICABLE SECURITIES LEGISLATION AND ARE SUBJECT TO, AND EXPRESSLY QUALIFIED BY, THE CAUTIONARY DISCLAIMERS THAT ARE SET OUT IN MAGNA’S REGULATORY FILINGS. PLEASE REFER TO MAGNA’S MOST CURRENT MANAGEMENT’S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL POSITION, ANNUAL INFORMATION FORM AND ANNUAL REPORT ON FORM 40-F, AS REPLACED OR UPDATED BY ANY OF MAGNA’S SUBSEQUENT REGULATORY FILINGS, WHICH SET OUT THE CAUTIONARY DISCLAIMERS, INCLUDING THE RISK FACTORS THAT COULD CAUSE ACTUAL EVENTS TO DIFFER MATERIALLY FROM THOSE INDICATED BY SUCH FORWARD-LOOKING STATEMENTS. THESE DOCUMENTS ARE AVAILABLE FOR REVIEW ON MAGNA’S WEBSITE AT WWW.MAGNA.COM.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/30dbdb49-112a-4467-ab97-e14739b2d635


Primary Logo

MAGNA SECURES BUSINESS FOR HYBRID DUAL-CLUTCH TRANSMISSION PROGRAM

Magna’s hybrid dual clutch transmissions will be produced at its facility in Bari, Italy
Source: Magna International Inc.

2021 GlobeNewswire, Inc., source Press Releases

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Financials (USD)
Sales 2021 36 038 M - -
Net income 2021 1 365 M - -
Net Debt 2021 2 078 M - -
P/E ratio 2021 17,2x
Yield 2021 2,20%
Capitalization 23 460 M 23 441 M -
EV / Sales 2021 0,71x
EV / Sales 2022 0,64x
Nbr of Employees 154 000
Free-Float 99,4%
Chart MAGNA INTERNATIONAL INC.
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Magna International Inc. Technical Analysis Chart | MG | CA5592224011 | MarketScreener
Technical analysis trends MAGNA INTERNATIONAL INC.
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 19
Last Close Price 78,00 $
Average target price 93,01 $
Spread / Average Target 19,2%
EPS Revisions
Managers and Directors
Seetarama Kotagiri Chief Executive Officer
Vincent J. Galifi President
Patrick W. D. McCann Chief Financial Officer & Executive Vice President
Bill L. Young Chairman
Paul Bellack Vice President-Information Technology
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