QUOTE AND NEWS
Insurance Journal  May 15  Comment 
A.M. Best has revised the outlook to positive from stable for the issuer credit rating (ICR) of MGA Insurance Co. Inc. (MGA) in Dallas and affirmed its ICR of “bbb.” Concurrently, A.M. Best has affirmed the financial strength rating of B++...
Automotive World  May 12  Comment 
Automotive supplier challenges European design & engineering students to help design the car of the future Magna International Inc. today announced that it will participate in one of the world’s largest and most important car shows, the...
Market Intelligence Center  May 12  Comment 
The patented algorithms that power MarketIntelligenceCenter.com's Artificial Intelligence Center found a trading opportunity with Magna International Inc. (MGA) that should provide a 3.93% return in just 129 days. Sell one Sep. '15 call at the...
Wall Street Journal  May 7  Comment 
Magna International Inc. on Thursday reported earnings that were ahead of expectations but said the weakening of some currencies against its U.S.-dollar reporting currency hurt sales in the first quarter.
Automotive World  May 7  Comment 
Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the first quarter ended March 31, 2015.   THREE MONTHS ENDED March 31, 2015 March 31, 2014 Sales $  8,330 $  8,961 Adjusted EBIT(1) $ 642 $ 605 Income from...
newratings.com  May 7  Comment 
OTTAWA (dpa-AFX) - Magna International, Inc. (MG.TO, MGA) reported that first-quarter net income to company grew to $465 million or $1.12 per share from $393 million or $0.88 per share in the prior year quarter. On average, 17 analysts polled by...
Insurance Journal  May 5  Comment 
Orchid Underwriters Agency LLC, a Vero Beach, Florida-based program administrator and wholesale broker of excess & surplus (E&S) insurance focusing on coastal properties, announced that it has acquired Coastal Agents Alliance, a managing general...
newratings.com  May 5  Comment 
OTTAWA (dpa-AFX) - Magna International Inc. (MGA) and Chongqing Xingqiaorui have agreed to form a strategic joint venture in China. As per the terms of the agreement, Cosma International, Magna's body and chassis operating unit, will hold a...




 
TOP CONTRIBUTORS

Magna International Inc. is a leading component manufacturer, supplier of all wheel drive systems, and vehicle assembler. The company is one of the largest North American suppliers of original equipment components, assemblies, modules and systems, and related tools for cars and light trucks. The company is also a global supplier of technologically advanced automotive components, systems and modules. The company designs, engineers and manufactures a range of exterior, interior and powertrain systems. Magna also provides vehicle design, engineering, assembly and program management services to its customers. The company's operations are conducted through its global automotive systems groups. The company operates through three segments: North America, Europe, and Rest of World (consisting of primarily South America an Asia). DaimlerChrysler, Ford, and General Motors are the major customers of the company, collectively accounting for around 70% of Magna's revenue.


Magna enjoys a strong competitive position in the industry as it is one of the few providers of a complete range of interior and exterior auto systems to global auto companies. Increasing content per vehicle (CPV) is the main driver of Magna's growth. CPVs in both North America and Europe have been increasing over time.

The company is a major provider of interior and exterior systems to automotive companies. Some of the prominent new product launches driving CPV growth include Chevy Equinox, Chevy Cobalt, SAAB 9-3 and BMW X3. The key platforms boosting CPV growth rate in North America are Chrysler minivans, Chrysler Pacifica, Chrysler 300, 300c, and Ford F-150. Simultaneously in Europe, the Mercedes B class, Honda Civic, BMW01 series, and Land Rover discovery are supporting CPV growth. Recently, Magna agreed to develop and produce the MINI sports activity vehicle for the BMW Group. With this, the company expects its annual sales to be more than $1 billion. Magna also has a strong balance sheet with cash and cash equivalents amounting to $1.7 billion.

The company has strong relationships with GM, Ford, and DaimlerChrysler. It has been recognized as an important supplier by all these automakers. Additionally, the bankruptcy filing by the component supplier Delphi Corporation has provided Magna with various business opportunities. Moreover, MGA has been awarded the transfer case business by Nissan. These trends make us believe that MGA will gain new businesses in the coming quarters. Further, GM has launched new full-size SUVs that will further strengthen demand for MGA's product line.




References

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