Magna to Hold Virtual Investor Event, Updates 2025 Outlook

Company to present its unique market position and progress on its Go-Forward StrategyWell positioned for transforming industry and growth in addressable marketsUpdated 2025 outlook reflects active safety acquisitionAURORA, Ontario, Sept.07, 2023(GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG, NYSE: MGA), a mobility technology company and global leader in the automotive industry, will hold a virtual investor event today. Magna's Chief Executive Officer, Swamy Kotagiri and...

Aurora, 07/09/2023 (informazione.news - comunicati stampa - industria)

AURORA, Ontario, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG, NYSE: MGA), a mobility technology company and global leader in the automotive industry, will hold a virtual investor event today. Magna's Chief Executive Officer, Swamy Kotagiri and Chief Financial Officer, Pat McCann will present on the company's unique position in the market, systems-level capabilities and Go-Forward Strategy to power profitable growth.   

“We are excited to update investors on our strategic progress and the tremendous opportunities we see in the transforming industry where our addressable markets continue to grow,” said Swamy Kotagiri, Magna CEO.  

The presentation and question and answer session will run from 9:00 a.m. to 10:30 a.m. ET. To view the webcast, participants can register by clicking here. The live stream will begin at 9:00 a.m. ET.

To ask a question during the question & answer session, please dial:

2025 OUTLOOK

Our 2025 Outlook below has been updated solely to reflect the acquisition of Veoneer Active Safety. All other 2025 assumptions and financial information are unchanged from our 2025 Outlook previously provided in our press release dated February 10, 2023.

2025 Outlook Assumptions

2025 Updated Outlook

Our Outlook is intended to provide information about management's current expectations and plans and may not be appropriate for other purposes. Although considered reasonable by Magna as of the date of this document, the 2025 Outlook above and the underlying assumptions may prove to be inaccurate. Accordingly, our actual results could differ materially from our expectations as set forth herein. The risks identified in the “Forward-Looking Statements” section below represent the primary factors which we believe could cause actual results to differ materially from our expectations.

Certain of the forward-looking financial measures above are provided on a Non-GAAP basis. We do not provide a reconciliation of such forward-looking measures to the most directly comparable financial measures calculated and presented in accordance with U.S. GAAP. To do so would be potentially misleading and not practical given the difficulty of projecting items that are not reflective of on-going operations in any future period. The magnitude of these items, however, may be significant.

This press release together with our Management's Discussion and Analysis of Results of Operations and Financial Position and our Interim Financial Statements are available in the Investor Relations section of our website at www.magna.com/company/investors and filed electronically through the System for Electronic Document Analysis and Retrieval (SEDAR) which can be accessed at www.sedar.com as well as on the United States Securities and Exchange Commission's Electronic Data Gathering, Analysis and Retrieval System (EDGAR), which can be accessed at www.sec.gov.

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

WEBCAST CONTACT
Nancy Hansford, Executive Assistant, Investor Relations
nancy.hansford@magna.com, 905-726-7108

OUR BUSINESS
Magna is more than one of the world's largest suppliers in the automotive space. We are a mobility technology company built to innovate, with a global, entrepreneurial-minded team of over 174,000 employees across 351 manufacturing operations and 103 product development, engineering and sales centres spanning 30 countries. With 65+ years of expertise, our ecosystem of interconnected products combined with our complete vehicle expertise uniquely positions us to advance mobility in an expanded transportation landscape.

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

  Manufacturing operations, product development, engineering and sales centres include certain operations accounted for under the equity method .
   Number of employees includes approximately 162 ,000 employees at our wholly owned or controlled entities and over 12,000 employees at certain operations accounted for under the equity method.