Magna's 2023 financial report released, net profit increased significantly

Magna's 2023 financial report shows that the group's annual sales will be US$42.8 billion, a year-on-year increase of 13%. Pre-tax operating profit is US$1.6 billion, a year-on-year increase of 82.9%; net profit attributable to Magna International is US$1.2 billion, a year-on-year increase of 104.8%. Magna predicts that sales in 2024 will be between US$43.8 billion and US$45.4 billion, and adjusted net profit attributable to Magna will be US$1.6 billion to US$1.8 billion.