Cie Automotive Sa Ord (CUOTF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Buenos dias a todos y bienvenidos a la conferencia. Good morning everyone and welcome to CIE Automotive's fourth quarter 2025 results. Today we have Quasimodo Herrera, CEO, and Lorea Licizabal, Director for Corporate Development. At the end of presentation there will be a Q&A and the questions can only be asked in writing via the tool provided in the webcast. And now I'll hand over to Lorea. Go ahead, please. Hello. Good morning, everyone. We're going to start talking about what's happening in our industry, and we're going to review in detail three of the major current issues, the Chinese OEMs, the tariffs, electrification. We think that this helps to put our performance into context. On the one hand, and talking about the Chinese OEMs that you ask a lot of questions about, they have continued to make headway during 2025, both in the domestic market and internationally. Domestically, they have continued to gain market share. They're at 65% of vehicle sales in China versus 60% the previous year. China's exports have continued to grow by over 20% during the year. They've gone from 6 to 7 million exported vehicles, which means exporting 20% of the Chinese production. And a highlight is an increase in exports to Mexico and the Arab Emirates, regions where in 2025 they haven't been penalized with tariffs, and they have also increased tariffs to Europe. The tariffs in Europe only affect electric vehicles, so the increase in exports in 2025 has focused on combustion engines and hybrids. In parallel with the exports, And due to the tariff barriers that are being imposed, many OEMs are making progress in their implementations outside China. And this we see in different versions. We see Greenfield for CDK assembly, as BYD did in Turkey and Hungary. Both projects which have bee...