Magna International looks to grow faster than overall automotive market

Toronto - Automotive parts manufacturer Magna International Inc. has set ambitious financial targets for itself through 2030. The company aims to achieve compounded annual growth in its adjusted earnings per share of at least 15 per cent. This growth target is more ambitious than the overall automotive market, which Magna says it intends to outpace.

To reach these goals, Magna plans to increase sales organically by 2 to 4 per cent above market rates, also measured on a compounded annual basis. The company will pursue this growth by expanding its offerings per vehicle, attracting new customers and expanding into new regions, as well as tapping into growth opportunities beyond the automotive sector.

Magna's profitability is also a key focus, with the company targeting a 200 basis point or greater increase in its adjusted earnings before interest and taxes margin from 2026 to 2030. CEO Swamy Kotagiri emphasized that these targets reflect the company's confidence in its strategy and capabilities, as well as the opportunities ahead.