At IMAP’s Fall 2022 Conference in Bilbao, Lorea Aristizabal Abasolo, Director
of Corporate Development, and Irache Pardo Villanueva, Director of Financial &
Treasury and Corporate Purchasing Officer, from CIE Automotive were invited to
lead a session looking at how M&A has been a key tool in the company’s evolution
over the last 25 years, as well as why ESG is firmly integrated into the company’s
business model.
This document brings together a set
of latest data points and publicly
available information relevant for
Automotive Industry. We are very
excited to share this content and
believe that readers will benefit from
this periodic publication immensely.
- Sales down – despite positive exchange rate effects – due to lower prices and volumes, falling 0.9% to €6.4 billion
- Gross profit margin narrowed on negative price trend to 19.2%, against 19.4% in prior-year period
- EBITDA before restructuring expenses at €86 million, versus €191 million in prior year; after restructuring expenses of €63 million, EBITDA was €24 million
- Net loss of €349 million under added impact of goodwill impairments in North America activities
- Strong positive free cash flow of €191 million, compared with negative €64 million in prior year
- Very solid balance sheet maintained with 39% equity ratio
- Implementation of digitalization strategy ramped up with major progress and positive response among suppliers, customers and competitorsSharp increase in EBITDA expected with net income marginally back in positive figures in 2016
This document brings together a set
of latest data points and publicly
available information relevant for
Automotive Industry. We are very
excited to share this content and
believe that readers will benefit from
this periodic publication immensely.
- Sales down – despite positive exchange rate effects – due to lower prices and volumes, falling 0.9% to €6.4 billion
- Gross profit margin narrowed on negative price trend to 19.2%, against 19.4% in prior-year period
- EBITDA before restructuring expenses at €86 million, versus €191 million in prior year; after restructuring expenses of €63 million, EBITDA was €24 million
- Net loss of €349 million under added impact of goodwill impairments in North America activities
- Strong positive free cash flow of €191 million, compared with negative €64 million in prior year
- Very solid balance sheet maintained with 39% equity ratio
- Implementation of digitalization strategy ramped up with major progress and positive response among suppliers, customers and competitorsSharp increase in EBITDA expected with net income marginally back in positive figures in 2016
Gabriel strategy report sp jain school of global managementedwin john
The report is part of a global immersion project included in the MBA course at SP Jain School of Global Management. The Objective of the project was to support a current organisation in expanding its business globally by leveraging unique business expansion strategies.
Back Ground Information Brief History Kuwait Ce.docxjasoninnes20
Back Ground Information
Brief History
Kuwait Cement Company is a Kuwait Based company established in November
1968. The establishment of the company was done by experienced economists, due
to the need of such company in mist of the rising of modern construction of
buildings and houses at that time. Since then the company has been a major supplier
in the construction industry. The State of Kuwait has definitely supported and
encouraged this type of investment and establishment and any establishment that
would have an impact of reducing the crucial reliance on oil.
Objectives
Their objectives since establishment as stated by the chairman Rashed Abdulaziz
AlRashed on their website are as follows:
1- “Preserve the quality of its products.”
2- “Stabilize the cement prices in the local market.”
3- “Implement its ambitious plans of building an advanced and integrated industry that would serve
the country and its citizens.”
Organizational Structure
(The company follows a hierarchy structure, which is a traditional organizational
structure. Creating many levels of management and authority, lacking flexibility in
decision making and increasing time and duration of any decisions and information
to travel from entry level up to senior management.)
The Corporation major shareholders are three large investors in Kuwait, the first
one is Kuwait Investment Authority owning 29.363% of the shares. Kuwait
investment authority or KIA is a very successful and powerful company is the
finance and investment industry in Kuwait. it currently amongst its many
investment activities, manage the General Reserve Fund and the Future Generations
Fund. The second major shareholder is the National Industries Group (NIG) owning
26.121% shares, “NIG manages several and manifold activities in investment and shares, in
Building Materials, Petrochemicals, Oil & Gas Services, Mechanical Industries, Utilities, Real estate
Infrastructure, and Financial Services. Through the asset management expertise in managing
financial portfolios, equity shares, and direct investment has brought home creditable and laudable
profits to its shareholders…” (About, National Industries Group). The third major shareholder is Al-
Rashid Trading Contracting Company with 7.459% Shares. Al-Rashid Trading has representatives on
the board of directors.
Board Of Directors
The Executive Management
Chairman: Rashid
Abdulaziz Al-Rashid
Dr. abdulaziz Rashid
alrashid
Basil saad alrashid
Tamadir ahmad
alhouti
Jamal yousef
albabtain
Khalid Abdullah
alrabiah
Rasha abdulrahman
al mulhim
Abdullah
mohammad saad
Yacoub mohammad
alsagir
Yousef bader
alkharafi
CEO-
Abdulmutalib
esmael
behbehani
Debuty CEO -
Mishaal abdul
muhsin alrashid
COO- Rajesh
kumar sinj
Debuty COO-
Saad yousif
alsuwaidan.
Subsidiaries
KCC did expand and build or create three subsidiaries, all operate in the
constructi ...
Constellium 2013 business performance reportConstellium
By focusing on three growth markets – automotive, aerospace and packaging – Constellium is well-positioned for the years ahead. Along with their significant revenue potential, each of these markets also has a high technological barrier to entry. The financial performance in 2013 of our three business units reflects that future potential, thanks to the world-class quality of our industrial platform and the expertise of our employees.
Looking ahead, improving our operational efficiency and further developing our innovation pipeline are key parts of the company’s strategy. R&D and innovation are core Constellium strengths, and the ability to create differentiating new products is vital in a competitive market. Solid corporate governance and an unwavering commitment to safety will also be guiding principles for Constellium in a business environment where continuous improvement and sustainability come together. Together, these elements are delivering a level of business performance that allows Constellium to look to the future with confidence.
This document brings together a set of latest data points and publicly available information relevant for Resources Industry. We are very excited to share this content and believe that readers will benefit from this periodic publication immensely.
fundamental analysis of eicher motors
business model
products they provide
management quality
market share of company
analysis of financial statement
ratio analysis
peer to peer comparision
go through fundamental analysis and take your own decision to buy, hold, sell
Mercedes car production China crosses 500,000 - Press ReleaseRushLane
The 500,000th locally produced Mercedes-Benz passenger car, an all-new long-wheelbase C-Class model, has rolled off the production lines at Daimler’s Sino-German production joint-venture Beijing Benz Automotive Co., Ltd. (BBAC), marking yet another milestone in Mercedes-Benz’s increasing local footprint in China.
During the COVID-19 pandemic, the typically unsung
$8 trillion logistics and supply chain ecosystem
garnered unprecedented attention and became
top-of-mind for consumers and businesses trying to
procure then hard-to-find products. Seismic e-commerce
and technology driven sector shifts accelerated, leading
to record levels of deal activity starting in late 2020 and
into early 2022.
INVERLINK - IMAP Colombia recently advised SYAC on the sale of a 100% stake to Vela Software. Following this transaction, SYAC will be part of one of the most relevant ecosystems of vertical market software companies in LATAM and the world.
More Related Content
Similar to M&A and ESG go Hand-in-Hand at Worldwide Industrial Group CIE Automotive
Gabriel strategy report sp jain school of global managementedwin john
The report is part of a global immersion project included in the MBA course at SP Jain School of Global Management. The Objective of the project was to support a current organisation in expanding its business globally by leveraging unique business expansion strategies.
Back Ground Information Brief History Kuwait Ce.docxjasoninnes20
Back Ground Information
Brief History
Kuwait Cement Company is a Kuwait Based company established in November
1968. The establishment of the company was done by experienced economists, due
to the need of such company in mist of the rising of modern construction of
buildings and houses at that time. Since then the company has been a major supplier
in the construction industry. The State of Kuwait has definitely supported and
encouraged this type of investment and establishment and any establishment that
would have an impact of reducing the crucial reliance on oil.
Objectives
Their objectives since establishment as stated by the chairman Rashed Abdulaziz
AlRashed on their website are as follows:
1- “Preserve the quality of its products.”
2- “Stabilize the cement prices in the local market.”
3- “Implement its ambitious plans of building an advanced and integrated industry that would serve
the country and its citizens.”
Organizational Structure
(The company follows a hierarchy structure, which is a traditional organizational
structure. Creating many levels of management and authority, lacking flexibility in
decision making and increasing time and duration of any decisions and information
to travel from entry level up to senior management.)
The Corporation major shareholders are three large investors in Kuwait, the first
one is Kuwait Investment Authority owning 29.363% of the shares. Kuwait
investment authority or KIA is a very successful and powerful company is the
finance and investment industry in Kuwait. it currently amongst its many
investment activities, manage the General Reserve Fund and the Future Generations
Fund. The second major shareholder is the National Industries Group (NIG) owning
26.121% shares, “NIG manages several and manifold activities in investment and shares, in
Building Materials, Petrochemicals, Oil & Gas Services, Mechanical Industries, Utilities, Real estate
Infrastructure, and Financial Services. Through the asset management expertise in managing
financial portfolios, equity shares, and direct investment has brought home creditable and laudable
profits to its shareholders…” (About, National Industries Group). The third major shareholder is Al-
Rashid Trading Contracting Company with 7.459% Shares. Al-Rashid Trading has representatives on
the board of directors.
Board Of Directors
The Executive Management
Chairman: Rashid
Abdulaziz Al-Rashid
Dr. abdulaziz Rashid
alrashid
Basil saad alrashid
Tamadir ahmad
alhouti
Jamal yousef
albabtain
Khalid Abdullah
alrabiah
Rasha abdulrahman
al mulhim
Abdullah
mohammad saad
Yacoub mohammad
alsagir
Yousef bader
alkharafi
CEO-
Abdulmutalib
esmael
behbehani
Debuty CEO -
Mishaal abdul
muhsin alrashid
COO- Rajesh
kumar sinj
Debuty COO-
Saad yousif
alsuwaidan.
Subsidiaries
KCC did expand and build or create three subsidiaries, all operate in the
constructi ...
Constellium 2013 business performance reportConstellium
By focusing on three growth markets – automotive, aerospace and packaging – Constellium is well-positioned for the years ahead. Along with their significant revenue potential, each of these markets also has a high technological barrier to entry. The financial performance in 2013 of our three business units reflects that future potential, thanks to the world-class quality of our industrial platform and the expertise of our employees.
Looking ahead, improving our operational efficiency and further developing our innovation pipeline are key parts of the company’s strategy. R&D and innovation are core Constellium strengths, and the ability to create differentiating new products is vital in a competitive market. Solid corporate governance and an unwavering commitment to safety will also be guiding principles for Constellium in a business environment where continuous improvement and sustainability come together. Together, these elements are delivering a level of business performance that allows Constellium to look to the future with confidence.
This document brings together a set of latest data points and publicly available information relevant for Resources Industry. We are very excited to share this content and believe that readers will benefit from this periodic publication immensely.
fundamental analysis of eicher motors
business model
products they provide
management quality
market share of company
analysis of financial statement
ratio analysis
peer to peer comparision
go through fundamental analysis and take your own decision to buy, hold, sell
Mercedes car production China crosses 500,000 - Press ReleaseRushLane
The 500,000th locally produced Mercedes-Benz passenger car, an all-new long-wheelbase C-Class model, has rolled off the production lines at Daimler’s Sino-German production joint-venture Beijing Benz Automotive Co., Ltd. (BBAC), marking yet another milestone in Mercedes-Benz’s increasing local footprint in China.
During the COVID-19 pandemic, the typically unsung
$8 trillion logistics and supply chain ecosystem
garnered unprecedented attention and became
top-of-mind for consumers and businesses trying to
procure then hard-to-find products. Seismic e-commerce
and technology driven sector shifts accelerated, leading
to record levels of deal activity starting in late 2020 and
into early 2022.
INVERLINK - IMAP Colombia recently advised SYAC on the sale of a 100% stake to Vela Software. Following this transaction, SYAC will be part of one of the most relevant ecosystems of vertical market software companies in LATAM and the world.
Morrison Park Advisors - DNA Inc.– IMAP
Canada recently advised Noventa, a renewable
energy company, on a majority sale to Ancala
Partners. Mr. Dennis Fotinos, Noventa’s founder and
CEO, talks to IMAP about the sale, the prioritization
of decarbonization and why constant inn
IMAP’s 50th Anniversary Special Edition of Creating Value
ESG, Disruptive Innovation, Decarbonization, Sustainable Business Practices, Transport & Logistics, Pasta, Consolidation, European Healthcare Services, FMCG, TMT, Global Dealmaker Market Commentary… this edition has it all!
You can also meet our new partner Alpen Capital in the GCC and read interviews with Dennis Fotinos Founder & CEO at Noventa Energy Partners and Josef Šuber, CEO and Head of M&A, Orkla Group.
IMAP demonstrated its leadership in the M&A market once more, closing 92 transactions worth over $3 billion in the first half of 2023.
Cautious dealmaking due to global uncertainty, high interest rates, and the unresolved U.S. debt ceiling issue, meant global M&A activity experienced a significant decline of 36% in the second quarter of 2023. However, with the gradual recovery of the stock market, there is hope for restoring CEOs’ confidence in engaging in M&A deals. Furthermore, despite the decline, experts believe the M&A market still holds potential for future growth and resurgence.
The most active sectors in terms of volume were Business Services, Industrials, Technology, and Consumer & Retail,
accounting for 62% of total IMAP deal volume. However, in terms of deal value, the most active sectors were Healthcare, Technology, Consumer & Retail, and Industrials, representing 58% of total deal value. Europe was the most impacted region in terms of deal activity, following market trends.
IMAP Czech Republic talks about their recent clients, the shareholders of Web4U, a leading Czech web hosting services provider which was acquired by international web hosting company, Miss Group. They look at how consolidation by large market players continues to drive M&A activity in the sector and why global reach and cross-border support is now crucial in securing the best solution for clients looking to sell their company.
Pablo Gómez, Director at IMAP Albia Capital – IMAP
Spain talks to Creating Value about why M&A is more
than just a transaction, it is about the people behind
the deal which is why building a working environment
based on trust and empathy is a must for M&A advisors
when guiding their clients through an M&A process.
Gabor Szendroi, Managing Partner at Concorde MB Partners – IMAP Hungary looks at the effect inflation has on company valuations, and what company owners looking to sell should expect
ntercambiadores de Calor S.A. (“Intercal”) is one
of Chile’s largest manufacturers of air conditioning
equipment and its related products, including
evaporators, air condensers, and industrial fans.
IMAP closed 47 M&A transactions valued at over $2 billion in the first quarter of 2023. While the figure was down from previous quarters it was not as low as initially expected. At the macro level, interest rate hikes, persistently high inflation, financial market instability, and fears of a recession put a damper on dealmaking activity. At the transaction level, IMAP dealmakers have reported that sellers are struggling to find good buyers and disappointed with relatively low valuations, while the lack of financing is diminishing appetite among potential acquirers. Despite these challenging conditions, the market is not entirely paralyzed. High quality businesses with strong margins and defensive growth profiles continue to attract interest from well positioned strategic buyers. Financial buyers have been much less aggressive due to the high cost of capital.
Business Services, Industrials, Consumer & Retail, and Building Products & Services were the most active sectors, accounting for 60% of total IMAP deal volume. Approximately 32% of the transactions were cross-border, which is consistent with previous quarters and reflects IMAP’s global nature. The bulk of IMAP’s Q1 deals involved a target company in either Europe or North America, with deal flow slightly more limited in Asia and Latin America.
Nils Keller, Partner at IMAP Germany takes a deep dive into the Application Software market for Creating Value, providing analysis on its development throughout 2022, with special emphasis on stock market valuations and M&A activity.
Capstone Partners and IMAP have released its 2022-2023 Global M&A Trends Survey Report, with insights from M&A advisors across the world. This report combines Capstone’s in-depth investment banking knowledge with proprietary data obtained from 133 participating IMAP M&A advisors across 37 countries
Industrials, Technology, Healthcare, Business Services, Transportation & Logistics, and Food & Beverage were the most active sectors for IMAP in 2022, accounting for almost 70% of total deal volume. Roughly 26% of IMAP’s transactions in 2022 were cross-border
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
M&A and ESG go Hand-in-Hand at Worldwide Industrial Group CIE Automotive
1. IRACHE PARDO VILLANUEVA
Director of Financial & Treasury and
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CIE Automotive
CIE Automotive (“CIE”) is an industrial group specialized
in high value-added processes. We are a global full-
service supplier for components, assemblies and sub-
assemblies and have 114 production sites distributed
across 108 locations in 16 countries covering four
continents.
MA has been essential in building the company
that we are today. During the last 25 years, we
have integrated more than 100 companies through
Greenfields, JVO’s and MA. Our journey began in
Bilbao, in the Basque Country, where there is a lot of
industry and especially strong Automotive industry. A
highly atomized industry, there are thousands of small
and mid-sized family-owned businesses here dealing
with the large OEMs. CIE was born in this context and
with two very strong beliefs: first, that together we
would be stronger and second, that in order to mitigate
VMWOWMRWYGLEGSQTIXMXMZIWIGXSVHMZIVWMƤGEXMSR[SYPH
be critical. And thus, our MA story began.
MA and ESG go Hand-in-Hand
at Worldwide Industrial Group
CIE Automotive
/ ESG INVESTING SPECIAL FOCUS
CIE AUTOMOTIVE’S ESG STRATEGY
LOREA ARISTIZABAL ABASOLO
Director of Corporate Development
CIE Automotive
Yesterday: MA Shaped the Company CIE is Today
At IMAP’s Fall 2022 Conference in Bilbao, Lorea Aristizabal Abasolo, Director
of Corporate Development, and Irache Pardo Villanueva, Director of Financial
8VIEWYV]ERH'SVTSVEXI4YVGLEWMRK3JƤGIVJVSQ'-)%YXSQSXMZI[IVIMRZMXIHXS
lead a session looking at how MA has been a key tool in the company’s evolution
SZIVXLIPEWX]IEVWEW[IPPEW[L])7+MWƤVQP]MRXIKVEXIHMRXSXLIGSQTER]ŭW
business model.
During the last 25 years, we have integrated
more than 100 companies
3. This geographical, commercial and technological
HMZIVWMƤGEXMSRMWEPPXMIHXSUYEPMXEXMZIMHIEW
• Investment discipline: While we are an industrial
company,ourobjectiveisnottoproducecomponents,
VEXLIVTVSƤXJVSQTVSHYGMRKGSQTSRIRXW
• Decentralized management: We have 26,000 people
in CIE, with less than 80 people at CIE HQ located
in Bilbao. Our only role at HQ is to support the
plants, where the business is and where the cash is
generated; they are the decision makers.
• ESG: Firmly implemented into CIE’s business model.
Another example is when we acquired Inteva R.S., the
third largest player in the world for roof systems. This
was a strategic move, as we believe that roof systems
will be a very important part of vehicles in the future
looking at the megatrends driving demand in the
market, such as the comfort of the vehicles.
Taking the gear component production as another
example, we had production in Italy which serviced the
European market, and in India to service Asia. However,
we wanted to be a global gear player, but were missing
the American market. Therefore, we strategically
acquired an Italian company also servicing the
American market. We reinforced our position in Italy
and Europe and we are now a global player.
3/ ESG INVESTING SPECIAL FOCUS
CIE AUTOMOTIVE’S ESG STRATEGY
Through MA we have created a healthy geographical
balance with each region’s contribution critical
to the overall success of the company, which is
extremely important in current times. We are also
able to invest according to our own profitability
return criteria because we have no dependence on
a single customer. MA has also allowed us to have
WYGLEHMZIVWMƤIHXIGLRSPSK]TSVXJSPMSXLEX[ILEZI
become a one-stop-shop for customers, offering any
component in any technology in any part of the world
at the same time.
In every acquisition we make, there are specific
drivers. For example, in 2019 we acquired Aurangabad
Electricals Ltd. in India. The primary driver behind this
acquisition was the increasing demand in the sector
for aluminium components to lightweight vehicles.
At the time, we didn’t have the capacity for aluminium
injection in India, so by including it in our portfolio we
are able to provide a better and more complete service
to our clients. We also gained new customers, as well
as moved into a new segment, the two-wheeler market,
which is huge in India.
Today: How we Approach MA
4. ESG INVESTING SPECIAL FOCUS /4
CIE AUTOMOTIVE’S ESG STRATEGY
Strategic: From time to time, when we see the right
opportunity and feel the company is ready from a
QEREKIQIRXXIEQERHEƤRERGMEPTSMRXSJZMI[[I
will do large strategic transactions that will allow us
XSXEOIWMKRMƤGERXUYERXMXEXMZIERHUYEPMXEXMZIWXITW
We have done this twice to date.
Our long-term strategy is for very ambitious growth
and MA will continue to be a key tool for us. Because
our organic growth level is so strong and our cash
generation level is so high, we will be reducing our
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increase our firepower to go “MA shopping”. We
project we will have €1.5 billion available until 2025 to
spend on corporate transactions including buy-backs,
the purchase of minorities and MA. In summary,
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our future.
If we now look towards the future, we see two different
types of MA strategy in parallel:
Consolidation: CIE was built on consolidating
small family-owned businesses of which there are
thousands, and we will continue to be a consolidation
vehicle. Many of these companies have reached their
maximum growth capacity on their own, but under
the CIE umbrella will have access to new resources,
clients, RD, and so on.
Tomorrow: Two Parallel MA Strategies
Because we have no dependence on a single
customer we are able to invest according to our
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5. 5/ ESG INVESTING SPECIAL FOCUS
CIE AUTOMOTIVE’S ESG STRATEGY
Another significant step in our commitment
to sustainability was the launch in 2021 of CIE
Automotive’s )7+7XVEXIKMG4PER, taking into
account the needs of all our stakeholders, as well as
our commitments to them.
• Eco-efficiency: Efficiency in production and
improvement of environmental impact
• Active listening: Proactivity and continuous
communication with our stakeholders
Over the last few years, ESG is all everyone has been
talking about. At CIE it’s something we have been
doing for years. In October 2015, we joined the 9RMXIH
2EXMSRW+PSFEP'SQTEGX, an international initiative that
promotes the implementation of the 10 universally
accepted principles which encourage business social
responsibility. Through this we develop, implement
and disseminate policies and practices of business
sustainability.
The plan is based on four pillars:
• CIE Culture: Identifying, empowering, retaining and
attracting talent
• Ethical Commitment: Respect for, compliance with
and development of the ethical framework
ESG is Key to Sustaining our Company’s Future
Signatory of the
United Nations
Global Compact
Contribution to the
United Nations
Sustainable
Development
Goals
Member of
Forética
ESG
integrated
in our
business
model
SERNAUTO
Responsible
Business
Commission
Global roll-out
Public release of
CIE ESG Strategic
Plan 2025
2025
ESG targets
ESG Dashboard with
strategic KPIs
2021
2015 2016 2019 2020
6. ESG INVESTING SPECIAL FOCUS /6
CIE AUTOMOTIVE’S ESG STRATEGY
sustainable and stable supply chain management to
minimize ESG risks. Purchasing represents 70%
of total revenue and with circa 25.000 suppliers
worldwide goals can only be achieved by taking the
challenge to the local/purchasing teams at any plant
level. We work with small, medium and large size
companies, but it’s important to encourage local
sourcing to avoid logistics costs and supply problems
as experienced in the past. All this without forgetting
that service, quality, and price are important
• Financiers: Maximizing the volume of ESG-linked
financial operations, making CIE’s debt “green”.
Our primary debt, the syndicated facility, has been
converted green, as well as several other lines with
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Transparency - we are continuously monitored by a
third party, Moody´s VigeoEiris. If our yearly ESG score
goes up, our spread cost is adjusted and we pay less
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no improvement, the spread price is increased. Our
estimation is that by the end of 2022, around 93% of
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demonstrating CIE and its financiers absolute
commitment to ESG and these criteria
• ESG Agencies: Several independent agencies
currently evaluating CIE’s ESG performance, most of
them unsolicited and using our public information.
The reports are demonstrating very positive trends in
the rating
These four pillars all have one common driver:
engagement. By this, we mean engagement to:
• Governance: Transparency and legality. Compliance
policy available to everyone. Worldwide ESG training.
Risk analysis and mitigation. Training on Code of
Conduct
• Environment: Measure and reduce environmental
impact from a lifecycle perspective (cradle to gate
scope). For example, 100% of energy production in
CIE production site in Spain derived from renewables.
Targets at European level by 2030 to reduce energy
consumption by 2% and waste emissions reduction
by 5%
• Sector: Worldwide collaboration in research
programs. Two percent of our annual revenues
are invested in RD. Launched project to integrate
ecodesign and circularity criteria in the development
and industrialization process. RD roadmap focused
on: Decarbonization, Sector 4.0, New mobility
concept, and Safety Security
• People: Ensure CIE is Diverse, Decentralized, Safe,
and Empowering. Objective is to attract and retain
key people, which is fundamental to CIE’s organic
growth
• Supply Chain: Critical in the Industrial sector to have
a high quality strong ESG supply chain. Measuring,
controlling and developing the supply chain is key to
achieving CIE’s 2025 ESG Plan. Objective is to achieve
Commission. The 2025 ESG Plan was released in mid-
2021 and we are proud to report that we achieved all
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CIE we are committed to ESG and to doing all what
we can to make the world a better place to live in.
In order to monitor our performance internally in the
application of our ESG principles and policies, CIE
elected a Transversal or Cross-Group Committee. It
is made up of 11 members from different areas and
supervised by the Board of Directors through the ESG
2020
98
2021
99
2021
35
2020
78
2021
91
2022
97
2021
41
2020
78
2020
81
2022
94
2021
96
2020
73
2022
82
2021
80
2022
47
2020
39
Percentile Position Within the Sector