May 24, 2016 10:19 AM ET

Auto Components

Company Overview of Magneti Marelli S.p.A.

Company Overview

Magneti Marelli S.p.A. designs and manufactures systems and components for the automotive sector. It offers automotive lighting products, powertrains, electronic systems, suspension systems, exhaust systems, plastic components and modules, and electro-mechanical systems. The company provides aftermarket parts and services. It serves car makers in Europe, North America, South America, and Asia. The company was founded in 1919 and is based in Corbetta, Italy with production units, research and development centers, and application centers in Italy and internationally. Magneti Marelli S.p.A. operates as a subsidiary of Fiat Chrysler Automobiles N.V.

Viale Aldo Borletti, 61/63

Corbetta, MI 20011

Italy

Founded in 1919

Phone:

39 02 97 22 71 11

Fax:

39 02 97 22 73 55

Key Executives for Magneti Marelli S.p.A.

Chief Executive Officer
Age: 52
Chief Financial Officer
Chief Operating Officer
Chief Technology Officer and Chief Executive Officer of Infotainment & Telematics
Chief Executive Officer of Suspension Systems and Chief Executive Officer of Plastic Components & Modules
Compensation as of Fiscal Year 2015.

Magneti Marelli S.p.A. Key Developments

Magneti Marelli Announces Earnings Results for the First Quarter Ended March 31, 2016

Magneti Marelli announced earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported net revenues of EUR 409,000 against EUR 529,000 a year ago. Income was EUR 5,337,000 against EUR 6,430,000 a year ago.

Magneti Marelli Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Magneti Marelli announced earnings results for the second quarter and six months ended June 30, 2015. For the quarter, net revenues were EUR 1,868 million against EUR 1,592 million a year ago, reflecting positive performance in the lighting, electronic systems and powertrain businesses. Adjusted EBIT was EUR 76 million against EUR 55 million a year ago primarily related to higher volumes and the benefit of cost containment actions and efficiencies, partially offset by start-up costs related to the Pernambuco plant. For the six months, net revenues were EUR 3,675 million against EUR 3,166 million a year ago. Adjusted EBIT was EUR 132 million against EUR 98 million a year ago.

Fiat Chrysler Does Not Plan To Sell Magneti Marelli

Fiat Chrysler Automobiles N.V. (BIT:FCA) does not plans to divest Magneti Marelli S.p.A. Fiat Chrysler’s Chief Executive Officer, Sergio Marchionne stated that there are "no immediate plans" to divest Magneti Marelli, there may be plans "in future".

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