Business
Magna announces outlook
AURORA, ON , Jan. 15, 2014 /CNW/ - Magna International Inc. (TSX: MG) (NYSE: MGA) toda...
About this update from Magna International Inc.
[{"type":"text","content":"\n\n\nAURORA, ON, Jan. 15, 2014 /CNW/ - Magna International Inc. (TSX: MG) (NYSE: MGA) today announced its financial outlook for 2014.  All amounts are in U.S.\n dollars.\n\n\nDon Walker, Magna's Chief Executive Officer commented: \"Our outlook\n indicates our continued progress in expanding our business in high\n growth regions, particularly in Asia.  In addition, our outlook\n reflects our commitment to improving operating results in Europe\n including through ongoing restructuring, implementing operational\n improvements and exercising discipline in quoting new business.  This,\n together with ongoing strong performance in North America, is expected\n to result in continued improvement in our consolidated operating margin\n in the coming years.\"\n\n\n2014 OUTLOOK\n\n\n\n\n \n\n\n \n\n\n\n\n \nLight Vehicle Production (Units)\n      North America\n      Europe\n \nProduction Sales\n      North America\n      Europe\n      Rest of World\n      Total Production Sales\n \n\nComplete Vehicle Assembly Sales\n \nTotal Sales\n \nOperating Margin*\n \nTax Rate*\n \nCapital Spending\n \n\n\n \n   \n16.7 million\n19.1 million\n\n\n $16.8 billion - $17.4 billion\n$9.5 billion - $9.9 billion\n$2.3 billion - $2.6 billion\n$28.6 billion - $29.9 billion\n \n$2.6 billion - $2.9 billion\n \n$33.8 billion - $35.5 billion\n \nMid 6% range\n \nApproximately 24.5%\n \nApproximately $1.4 billion\n \n\n\n\n\n* Excluding other expense (income), net\n\n\n\n\n\n\n\nIn addition to our 2014 sales and light vehicle production outlook\n above, we expect 2016 total production sales to be approximately $3.6\n billion higher than 2014, based on assumed full year 2016 light vehicle\n production volumes of approximately 17.7 million units in North America\n and approximately 20.9 million units in Europe.  We expect the increase\n in total production sales to be split approximately as follows by\n segment: 45% in North America, 25% in Europe and 30% in Rest of World.\n\n\nIn this outlook we have assumed no material acquisitions or\n divestitures.  In addition, w...