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COMPANY PROFILE
Magna International Inc.

REFERENCE CODE: AD9D42CC-B80C-44F5-A748-B0310AADC7FD
PUBLICATION DATE: 13 Dec 2013
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TABLE OF CONTENTS
Company Overview..............................................................................................3
Key Facts...............................................................................................................3
Business Description...........................................................................................4
History...................................................................................................................6
Key Employees...................................................................................................10
Key Employee Biographies................................................................................11
Major Products and Services............................................................................16
Revenue Analysis...............................................................................................18
SWOT Analysis...................................................................................................20
Top Competitors.................................................................................................26
Company View.....................................................................................................27
Locations and Subsidiaries...............................................................................30
Magna International Inc. Page 2
MarketLine
TABLE OF CONTENTS
COMPANY OVERVIEW
Magna International Inc. (Magna or "the company") designs, develops and manufactures automotive
systems, assemblies, modules and components primarily to original equipment manufacturers
(OEMs) of cars and light trucks. The company operates in the Americas, Europe, Asia, and Africa.
It is headquartered in Aurora, Canada and employed about 119,000 people as on December 31,
2012.
The company recorded revenues of $30,837 million during the financial year ended December 2012
(FY2012), an increase of 7.3% over FY2011. The operating profit* of the company was $1,507 million
in FY2012, an increase of 20.9% over FY2011.Its net profit was $1,433 million in FY2012, an increase
of 40.8% over FY2011.
*Interest (income) expense, equity income, and other expense are not included for the calculation
of operating profit.
KEY FACTS
Magna International Inc. Head Office
337 Magna Drive
Aurora
Ontario L4G 7K1
CAN
1 905 726 2462 Phone
1 905 726 7164 Fax
http://www.magna.com Web Address
30,837.0 Revenue / turnover
(USD Mn)
December Financial Year End
119,000 Employees
MGA New York Ticker
MG Toronto Ticker
MarketLine
Company Overview
BUSINESS DESCRIPTION
Magna is a diversified automotive supplier engaged in the design, engineering, testing and
manufacture of automotive systems, assemblies, modules and components primarily for sale to
original equipment manufacturers (OEMs) of cars and light trucks. The company also provides
complete vehicle engineering and assembly services. Magna operates 315 manufacturing operations
and 87 product development, engineering and sales centers in 29 countries across North America,
Europe and rest of world (primarily Asia, South America and Africa).
The company operates in three geographic reporting divisions, including North America, Europe
and rest of World. Each division functions as an autonomous business unit operating within
predetermined guidelines.
Although the company operates through three geographic divisions, its operations can be divided
into seven segments: exterior and interior systems, body systems and chassis systems, powertrain
systems, complete vehicle assembly, tooling, engineering and other, vision and electronic systems,
and closure systems.
The exterior and interior systems segment design, engineer and manufacture various interior exterior
components and systems for the global automotive and commercial truck product markets. The
segments exterior systems portfolio includes front and rear fascia systems, class A composite
panels, modular systems, exterior trim structural components, under hood and underbody components,
and sheet molding compound material. Interior systems offered by the company include sidewall
systems, trim systems, cargo management systems, cockpit systems, and overhead systems.
The body systems and chassis systems segment provides metal body systems, components,
assemblies and modules, including body systems, chassis systems, and related engineering services.
Body systems offered by the segment include complete body-in-white, floor pans, underbody
assemblies, door, hood and deck assemblies, and roof panels. The chassis systems offered by the
segment include cross member assemblies, radiator supports, shock towers, engine cradles, front
and rear sub-frame assemblies, and front and rear suspension modules. The engineering services
portfolio includes program management, program engineering, computer-aided engineering, design
verification, prototype build, and testing and validation. The segment also provides renewable energy
structures such as solar energy racking systems.
The powertrain systems segment design, engineer and manufacture powertrain systems and
components, including driveline systems, fluid pressure systems, and metal-forming solutions. The
segment also offers engineering and system integration services, including engine & drivetrain
engineering, commercial & special vehicle engineering, engine testing services, and epowertrain
and vehicle integration.
Magnas complete vehicle assembly segment provides components, systems and vehicle engineering
and contract vehicle assembly services. The company is one of the largest brand-independent
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Business Description
assembler of complete vehicles for OEMS. The segment offers engineering services, including
design & vehicle concepts, complete vehicle development & integration, systems & modules
development, safety engineering & testing, prototype and low-volume production, and test bed
services. The segment also provides contract manufacturing, including vehicle contract manufacturing,
door modules, industrial services, and fibre composite technology applications. It also provides fuel
systems, including fuel tanks, tank filler pipers & filler braces, tank caps, diesel misfueling protection,
fuel supply modules / valves and other oil & cooling-water systems components. In addition, the
segment also provides battery systems, including battery pack development & production, cell,
module & battery pack testing, and materials analysis.
The tooling, engineering and other segment designs, engineers and manufactures tooling for own
use, as well as for sale to the customers. Additionally, the segment provides engineering support
services, independent of particular production programs.
The vision and electronic systems segment is engaged in the design engineering and manufacturing
of vision systems, and electronic components and sub-systems. Vision systems offered by the
segment includes interior mirrors, exterior mirrors, actuators, and electronic vision systems. Electronic
systems offered by the segment includes driver assistance and safety systems, engine electronics
and sensors, body systems and human-machine interfaces (HMI), intelligent power systems, and
industrial products. The segment also offers hybrid & electric vehicle components/systems, including
traction motors, inverters, and control units.
The closure systems segment engineers and manufactures closure systems and modules, including
door modules, power closure systems, engineered glass window systems, sealing systems, latching
systems, driver controls, and handle assemblies. The segment also provides electronic features,
including electronic control unit design, obstacle detection and anti-pinch, and non-contact sensing.
In addition it offers lighting systems, including front lighting, rear lighting, and center high mount stop
lamps.
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Business Description
HISTORY
The history of Magna can be traced to the 1950s when Mr. Stronach opened a one-man tool and
die shop called Multimatic. In 1969, Multimatic merged with Magna Electronics, an aerospace,
defense and industrial components manufacturer. Between 1970 and 1972, the company expanded
its automotive operations and began manufacturing more stamped and electro-mechanical
components. During 1973, the company's name was changed to Magna International. Magna
implemented a major product diversification strategy in 1976, where the company's divisions were
organized into product groups.
Between 1990 and 1991, the company sold off its non-strategic operating divisions as part of its
restructuring strategy. During 1996-98, Magna expanded its presence in Europe through the
acquisition of several Europe based automotive systems suppliers. In 1998, the company acquired
Steyr-Daimler-Puch, an automotive technology and engineering company. Magna floated its plastic
exterior modules and systems group, Decoma International, as a separate public company in 1998.
Subsequently, Magna Entertainment and Intier Automotive were established as separate companies
in 2000 and 2001, respectively. The company acquired Donnelly in 2002. In 2003, Magna spun off
its real estate business, MI Developments, to Magna shareholders. In the same year, the company
and its subsidiary, Tesma International, jointly announced signing of a definitive arrangement
agreement to privatize Tesma International.
In 2005, Magna and its subsidiary, Decoma International, jointly signed a definitive arrangement
agreement to privatize Decoma, in the wake of the company's poor performance in Europe. In the
same year, the company completed the privatization of its former public subsidiaries, Tesma, Decoma
and Intier.
In 2006, Cosma International, an operating group of Magna, opened two new facilities, one each in
France and the US. In the same year, the company opened a representative office in Bangkok,
Thailand. Later in 2006, Cosma International formed a joint venture with Shin Young Metal, a
Korean-based supplier of major stampings, welded assemblies and tools to the automotive industry.
Magna acquired Porsche's North American engineering services unit, based in Troy, Michigan in
2006. During the same year, the company signed a five-year collaborative agreement with IBM to
support Magna's entry into the vehicle electronic systems. Also in 2006, Magna Powertrain, an
operating unit of Magna, and Amtek Auto signed a joint-venture agreement to establish a
manufacturing facility in India. Later in 2006, Cosma International acquired Vyroba Automotivnych
Blotnikov of Tychy, Poland.
In 2007, Intier Automotive Seating, an operating unit of Magna, in conjunction with Chrysler Group,
co-engineered and manufactured new seating features, for Chrysler Group's 2008 Dodge Grand
Caravan and Chrysler Town & Country. In the same year, Magna introduced olli, a clek booster seat
for the North American market at the annual Juvenile Products Manufacturers Association (JPMA).
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History
Later in 2007, the company acquired certain manufacturing assets and equipment, including a leased
facility located in Toluca, Mexico. During the same year, Magna Powertrain formed a 50/50 joint
venture with RICO Auto Industries to establish a new manufacturing facility in Gurgaon, Haryana
(India) for the manufacture of oil and water pumps with aluminum housings for automotive engine
applications.
In the following year, Magna Steyr, an operating unit of Magna, expanded its presence in India by
opening a new engineering and research & development office in Pune. Also in 2008, the company
acquired the Zhangjiagang Suxing Electronics facility located in Zhangjiagang, China. In the same
year, the company acquired Allied Transportation Technology, a producer of ultrasonic sensing
systems used for parking assistance and back-up object detection.
Magna acquired Technoplast, a supplier of plastic exterior and interior components, located in Nizhny
Novgorod, Russia, in 2008. During the same year, Cosma International established a new facility in
Pune, India. Later in 2008, Cosma International opened a new facility in Shanghai, China. In the
same year, Magna Electronics, an operating unit of Magna, acquired Blower Systems, a developer
and supplier of electric and energy-management systems for hybrid electric vehicles, plug-in hybrid
vehicles and battery electric vehicles.
In 2009, Cosma International entered into an agreement with Ogihara America to acquire Ogihara's
stamping and sub-assembly plant in Birmingham, Alabama. In the same year, Magna entered into
a partnership with Ford Motor to introduce a zero-emission lithium-ion battery electric vehicle (BEV).
In the same year, World Industries Ace (WIA), a Korea-based powertrain company affiliated with
Hyundai Kia Motors Group, and Magna Powertrain formed a 50/50 joint venture to establish a new
manufacturing facility located in Chungcheongnamdo, South Korea.
Decoma International acquired Cadence Innovation (Cadence Europe), a supplier of automotive
interior and exterior plastic components and systems, in 2009. In the same year, Magna Steyr, an
operating unit of Magna, signed an agreement with Daimler to extend the Mercedes-Benz G-Class
production at Magna Steyr in Graz, Austria until 2015. Also in 2009, Magna Electronics and BRUSA
Elektronik, a developer and supplier of power electronics and electric motors, announced collaboration
on electric and hybrid vehicle applications.
In 2009, Magna Electronics and Semikron, a power semiconductor components and systems provider
formed a 50/50 joint venture to produce power electronics for future electric and hybrid vehicle
applications. Later in 2009, Magna Seating, an operating unit of Magna, and Krishna Group of India
formed a 50/50 joint venture to produce complete seating systems and seat mechanisms for
automakers operating within the Pune region of India. In 2009, Magna Steyr was given a contract
to develop and manufacture the aluminum body for the new Mercedes-Benz SLS AMG in Graz.
Magna Exteriors and Interiors, an operating unit of Magna, launched EpicBlendSMC, a sheet molding
compound material (SMC), in 2010. During the same year, Magna Steyr acquired Karmann Japan,
a subsidiary of Wilhelm Karmann and a convertible system supplier. Also in 2010, Magna Seating
and Hollingsworth Logistics, a provider of industrial supply chain management, formed a joint venture
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History
to supply Volkswagen Group of America with complete seat systems for the mid-size sedan to be
built at Volkswagen's new Chattanooga, Tennessee, assembly facility.
In 2010, Magna E-Car Systems, a joint venture between Magna and the Stronach Trust, opened an
electric-vehicle system development center and battery/materials testing facility in Auburn Hills,
Michigan. During the same year, the company opened three facilities in St. Petersburg, Russia.
Magna opened a new technoplast production plant in Kaluga, Russia, in 2010. In the same year,
Magna Seating acquired Resil Minas, a Brazil based automotive seating supplier. Further in 2010,
the company acquired Erhard & Sohne, a Germany based manufacturer of fuel tanks.
Magna Seating acquired Pabsa, an automotive seat supplier, in 2011. Subsequently, the company
established a new facility in San Luis Potosi, Mexico, which would produce stamped and welded
assemblies for automakers. In addition, Cosma International acquired the Durbheim facility of
Acument. Further in the year, Cosma International formed a joint venture in China with Guangzhou
Automobile Group Component to manufacture major body and chassis components and structural
assemblies.
Later in the year, the roof systems group of Magna Steyr commenced the production of textile folding
roof for the 2012 Fiat 500 Cabrio. Subsequently, Magna Exteriors and Interiors formed a three-party
joint venture, called MCC Wuhu Exteriors, with Changshu Automotive Trim and Chery Tech to
purchase an existing injection molding and painting facility located in Wuhu city in the Anhui province,
China.
Further in the year, Cosma International acquired Grenville Castings, a structural casting supplier
of aluminum components for the automotive, heavy truck and recreational markets. Subsequently,
Magna Powertrain opened a new greenfield manufacturing facility in the Tianjin Airport Economic
Area in China. In addition, Cosma International acquired BDW technologies group's four operations,
including two in Germany, one each in Poland and Hungary.
Also during the year, Magna Electronics, in conjunction with its partner for image processing, Mobileye,
developed a driver assistance system that uses a single, forward-looking video camera to provide
safety and convenience features such as forward collision and lane departure warnings. Subsequently,
Cosma International acquired ThyssenKrupp Automotive Systems Industrial do Brasil, a producer
of chassis structural components and modules for several Brazilian automotive customers.
Further in the year, Cosma International opened a manufacturing facility in Phoenix, Arizona to
produce metal structures and roll-formed components and systems for the photovoltaic (PV),
concentrated photovoltaic (CPV), and concentrated solar power (CSP) solar markets.
Magna Exteriors and Interiors, an operating unit of Magna, and Zoltek Companies formed a
collaborative partnership to develop low cost carbon fiber sheet molding compounds, in March 2012.
In the following month, Magna E-Car Systems and Hyundai Heavy Industries agreed to form a joint
venture, MAHY E-CELL, as a platform to co-develop a battery cell and battery pack business. Also
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History
in April 2012, Magna E-Car Systems opened a plant in Grand Blanc Township, Michigan, to
manufacture components for hybrid and electric vehicles.
In May 2012, Infiniti, the luxury vehicle brand of the Nissan Motor, signed a memorandum of
understanding with Magna Steyr for the assembly of a future luxury entry level Infiniti compact
vehicle.
In October 2012, Magna launched the active grille shutter (AGS), a louver system that blocks various
front-end airflow openings, reducing drag while maintaining optimal engine temperatures.
Also in October 2012, Magna Exteriors and Interiors (MEI), an operating unit of Magna, announced
the opening of its new operation in Craiova, Romania.
Russian carmaker Avtotor Holding and Magna announced a cooperation agreement to establish an
automotive manufacturing cluster in the Kaliningrad region, in November 2012. During the month,
Magnas Powertrain operating unit completed the previously announced acquisition of ixetic
Verwaltungs, a manufacturer of automotive vacuum, engine and transmission pumps.
In February 2013, Magna Steyr unveiled its roof systems capabilities at Geneva Motor Show 2013.
In the following month, Magna Exteriors and Interiors (MEI) operating unit in partnership with strategic
development partner Zoltek, developed a low-cost carbon fiber sheet molding compound (SMC)
using Zoltek's Panex 35 commercial carbon fiber combined with Magna's EpicBlendSMC formulations
and production capability. During the month, Magna Electronics operating unit inaugurated a new
automotive camera production line at its Zhangjiagang plant in China.
Subsequently in April 2013, Magna Exteriors and Interiors (MEI) operating unit opened a new
manufacturing facility in Meerane, Germany.
During June 2013, the companys Magna Steyr operating unit opened a new engineering center
located in the Tiexi District of Shenyang, China.
In August 2013, Magna Powertrain, an operating unit of Magna, opened a new facility in the Tianjin
Airport Economic Area. In the following month, Magna Steyr, an operating unit of the company,
launched modernized and expanded Mercedes-Benz G-Class production plant at its Graz location.
Also in September 2013, the company opened a two new auto supply facilities: a Magna Interiors
plant in Arteaga and a Cosma International plant in Ramos Arizpe, Mexico.
In October 2013, Magna announced the expansion of its business in Eastern Europe with the
inauguration of a new greenfield manufacturing plant in Kocaeli, Turkey. In the same month, the
company launched Magna Seating d.o.o., a new seat component manufacturing facility in Odzaci,
Serbia, which will supply OEM customers including Smart, Renault and Ford.
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History
KEY EMPLOYEES
Compensation Board Job Title Name
16855770 USD Executive Board Chief Executive Officer Donald J. Walker
458350 USD Non Executive Board Chairman William L. Young
148950 USD Non Executive Board Director Peter G. Bowie
169030 USD Non Executive Board Director V. Peter Harder
278160 USD Non Executive Board Director Kurt J. Lauk
171160 USD Non Executive Board Director Scott Bonham
247740 USD Non Executive Board Director J. Trevor Eyton
323550 USD Non Executive Board Director Lawrence D. Worrall
323550 USD Non Executive Board Director Lady Barbara Judge
6809110 USD Senior Management Executive Vice President and Chief
Financial Officer
Vincent J. Galifi
4880780 USD Senior Management Executive Vice President and Chief
Legal Officer
Jeffrey O. Palmer
Senior Management President, Magna Europe Guenther Apfalter
Senior Management Executive Vice President, Corporate
Engineering & R&D
Swamy Kotagiri
Senior Management Executive Vice President, Global
Human Resources
Marc Neeb
2724880 USD Senior Management Chief Marketing Officer and
President, Magna Asia
James J. Tobin
7088470 USD Senior Management Chief Operating Officer, Exteriors,
Interiors, Seating, Mirrors and
Closures; and President, Cosma
Tom J. Skudutis
Senior Management Vice President, Taxation Atul Mehta
Senior Management Vice President and Corporate
Secretary
Bassem A. Shakeel
Senior Management Controller Robert Cecutti
Senior Management Vice President, Investor Relations Louis Tonelli
Senior Management Vice President, Finance Patrick McCann
Senior Management Vice President, Ethics and Legal
Compliance
Joanne Horibe
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Key Employees
KEY EMPLOYEE BIOGRAPHIES
Donald J. Walker
Board: Executive Board
Job Title: Chief Executive Officer
Since: 2010
Age: 56
Mr. Walker has been the Chief Executive Officer at Magna since 2010. He previously served as the
Co-Chief Executive Officer at the company from 2005 to 2010 and the President and Chief Executive
Officer from 1994 to 2001. Mr. Walker was formerly the President, Chief Executive Officer and
Chairman at Intier Automotive. Prior to joining Magna in 1987, he spent seven years at General
Motors in various engineering and manufacturing positions. Mr. Walker is a Founding Member at
the Yves Landry Foundation, and is currently the Chairman since 2011. He was previously the
Chairman at the Automotive Parts Manufacturers Association (APMA).
William L. Young
Board: Non Executive Board
Job Title: Chairman
Since: 2011
Age: 58
Mr.Young has been the Chairman at Magna since 2011. He is the co-Founder and Partner at Monitor
Clipper Partners, a private equity firm. Mr.Young also serves as the Founding Partner at Westbourne
Management Group since 1988. He served as a Partner in the European practice at Bain & Company
from 1981 to 1988. Mr. Young is the Chair Emeritus of the Board of Trustees at Queens University
and has significant private company board and board leadership experience over the last 20 years.
Peter G. Bowie
Job Title: Director
Since: 2012
Age: 66
Mr. Bowie has been a Director at Magna since 2012. He most recently served as the Chief Executive
Officer at Deloitte China from 2003 to 2008. Before that, Mr. Bowie was the Senior Partner and a
Director at Deloitte China until his retirement from the firm in 2010. He was previously the Chairman
at Deloitte Canada from 1998 to 2000. Mr. Bowie was previously a Member of the board at the Asian
MarketLine
Key Employee Biographies
Corporate Governance Association and has served on a variety of boards in the private and
non-governmental organization sectors.
V. Peter Harder
Job Title: Director
Since: 2012
Age: 60
Mr. Harder has been a Director at Magna since 2012. He is the Senior Policy Advisor at Fraser
Milner Casgrain (FMC) since 2007. Prior to joining FMC, Mr. Harder was a Deputy Minister in the
Government of Canada, having first been appointed as Deputy Minister in 1991. He served in a
number of federal departments, including Treasury Board, Solicitor General, Citizenship and
Immigration, Industry and Foreign Affairs and International Trade until 2007. Mr. Harder currently
serves as the President at the Canada China Business Council since 2008 and is a Member at the
International Institute of Strategic Studies.
Kurt J. Lauk
Job Title: Director
Since: 2011
Age: 66
Dr. Lauk has been a Director at Magna since 2011. He is the co-Founder and President at Globe
CP, a private investment firm. Previously, Dr. Lauk was a Member of the Management Board and
the Head of World Wide Commercial Vehicles Division at Daimler Chrysler from 1996 to 1999. He
also served as the Deputy Chief Executive Officer and Chief Financial Officer at Audi from 1989 to
1992. Dr. Lauk also served as the Chief Financial Officer and Controller at Veba (now known as
E.On) from 1992 to 1996. Before that, he was the Chief Executive Officer at Zinser Textil Machinery
from 1984 to 1989. Dr. Lauk served as a Partner and the Vice President of the German practice at
Boston Consulting Group from 1978 to 1984. He served as a Member of European Parliament from
2004 to 2009, including as a Member of the Economic and Monetary Affairs Committee and Deputy
Member of the Foreign and Security Affairs Committee. Dr. Lauk currently serves as a Trustee at
the International Institute for Strategic Studies in London and is an Honorary Professor at the European
Business School in Reichartshausen, Germany.
Scott Bonham
Job Title: Director
Since: 2012
Age: 51
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Mr. Bonham has been a Director at Magna since 2012. He is the co-Founder at GGV Capital, an
expansion stage venture capital firm. Prior to co-founding GGV in 2000, Mr. Bonham served as the
Vice-President at the Capital Group of Companies, where he managed technology investments
across several mutual funds from 1996 to 2000. He also previously served in various marketing
roles at Silicon Graphics from 1992 to 1996. Before that, Mr. Bonham served as the Manufacturing
and Information Systems Strategy Consultant at Booz, Allen & Hamilton from 1989 to 1992. He also
served as the Systems Engineer and Maintenance Foreman at General Motors of Canada. Mr.
Bonham also served as a Director at Hurray!.
J. Trevor Eyton
Job Title: Director
Since: 2010
Age: 78
Mr. Eyton has been a Director at Magna since 2010. He was a Member of the Senate of Canada
from 1990 until his retirement in 2009. Mr. Eyton previously served as the President and Chief
Executive Officer at Brascan (now known as Brookfield Asset Management) from 1979 to 1991. He
also served as its Chairman and Senior Chairman until 1997. Prior to this, Mr. Eyton was a Partner
at the law firm Tory Tory DesLauriers & Binnington. He previously served on numerous public and
private company Boards, including General Motors Canada.
Lawrence D. Worrall
Job Title: Director
Since: 2005
Age: 69
Mr. Worrall has been a Director at Magna since 2005. He previously served as the Vice-President,
Purchasing, Strategic Planning and Operations, as well as a Director at General Motors of Canada
from 1995 to 2000.
Lady Barbara Judge
Job Title: Director
Since: 2007
Age: 66
Lady Judge has been a Director at Magna since 2007. She previously served as the Chairman at
the UK Atomic Energy Authority from 2004 to 2010. Prior to which, Lady Judge was a Board Member
at the UK Atomic Energy Authority since 2002. Previously, she was a Director of the Energy Group
MarketLine
at the UKs Department of Trade and Industry from 2002 to 2004. In addition, Lady Judge formerly
served as a Commissioner at the US Securities Exchange Commission, the Deputy Chairman at
the UK Financial Reporting Council and the Co-Chairman at the UK/US Task Force on Corporate
Governance.
Vincent J. Galifi
Board: Senior Management
Job Title: Executive Vice President and Chief Financial Officer
Mr. Galifi currently serves as the Executive Vice-President and Chief Financial Officer at Magna.
Jeffrey O. Palmer
Job Title: Executive Vice President and Chief Legal Officer
Mr. Palmer currently serves as the Executive Vice-President and Chief Legal Officer at Magna.
Guenther Apfalter
Job Title: President, Magna Europe
Mr. Apfalter currently serves as the President, Magna Europe at Magna.
Swamy Kotagiri
Job Title: Executive Vice President, Corporate Engineering & R&D
Mr. Kotagiri currently serves as the Executive Vice-President, Corporate Engineering & R&D at
Magna.
Marc Neeb
Job Title: Executive Vice President, Global Human Resources
Mr. Neeb currently serves as the Executive Vice-President, Global Human Resources at Magna.
James J. Tobin
MarketLine
Job Title: Chief Marketing Officer and President, Magna Asia
Mr. Tobin currently serves as the Chief Marketing Officer and President, Magna Asia at Magna.
Tom J. Skudutis
Job Title: Chief Operating Officer, Exteriors, Interiors, Seating, Mirrors and Closures; and President,
Cosma
Mr. Skudutis currently serves as the Chief Operating Officer, Exteriors, Interiors, Seating, Mirrors
and Closures at Magna. He also serves as the President at Cosma.
MarketLine
MAJOR PRODUCTS AND SERVICES
Magna designs, develops and manufactures automotive systems, assemblies, modules and
components, and engineer and assemble complete vehicles, primarily to original equipment
manufacturers (OEMs) of cars and light trucks. The company's key products and services include
the following:
Products:
Exterior and interior systems:
Front and rear end fascia systems
Exterior trim
Modular systems
Class A composite panels
Structural components
Under hood and underbody components
Sheet molding compound material
Complete seating systems
Mechanism solutions
Seat structures solutions
Foam and trim products
Design and development services
Sidewall and trim systems
Cockpit systems
Cargo management systems
Overhead systems
Body systems and chassis systems:
Body systems
Chassis systems
Renewable energy systems
Full engineering
Powertrain systems:
Driveline systems
Fluid pressure and controls
Metal-forming solutions
Engineering services and system integration (ESSI)
Complete vehicle assembly:
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Major Products and Services
Engineering services
Contract manufacturing
Fuel and battery systems
Roof systems
Tooling, engineering and other:
Engineering services and tooling contracts
Engineering support services
Vision and electronic systems:
Interior mirrors (prismatic and electronics)
Exterior mirrors
Actuators
Electronic vision systems
Door handle and overhead console technologies
Driver assistance systems
Intelligent power systems
Body electronics and HMI
Engine electronics and liquid sensors
Industrial products
Closure systems:
Door modules
Window systems
Power closure systems
Latching systems
Handle assemblies
Driver controls
Obstacle detection
European testing center
Closures testing laboratories (CTL)
Engineered glass
Sealing systems
MarketLine
Major Products and Services
REVENUE ANALYSIS
Overview
The company recorded revenues of $30,837 million during the financial year ended December 2012
(FY2012), an increase of 7.3% over FY2011. In FY2012, the US, the company's largest geographic
market, accounted for 22.9% of the total revenues.
Magna generates revenues through seven automotive products and services: exterior and interior
systems (37.9% of total revenues in FY2012), body systems and chassis systems (23.1%), powertrain
systems (12.4%), complete vehicle assembly (8.3%), tooling, engineering and other (7.5%), vision
and electronic systems (6.9%), and closure systems (3.9%).
Revenues by division
In FY2012, the exterior and interior systems division recorded revenues of $11,673 million, an
increase of 5.9% over FY2011.
The body systems and chassis systems division recorded revenues of $7,123 million in FY2012, an
The powertrain systems division recorded revenues of $3,825 million in FY2012, an increase of
4.3% over FY2011.
The complete vehicle assembly division recorded revenues of $2,561 million in FY2012, a decrease
of 4.8% compared to FY2011.
The tooling, engineering and other division recorded revenues of $2,317 million in FY2012, an
The vision and electronic systems division recorded revenues of $2,132 million in FY2012, an
The closure systems division recorded revenues of $1,206 million in FY2012, an increase of 1.9%
over FY2011.
Revenues by geography
The US, Magna's largest geographical market, accounted for 22.9% of the total revenues in FY2012.
Revenues from the US reached $7,053 million in FY2012, an increase of 8.3% over FY2011.
MarketLine
Revenue Analysis
Canada accounted for 19.2% of the total revenues in FY2012. Revenues from Canada reached
$5,907 million in FY2012, an increase of 6.4% over FY2011.
Mexico accounted for 10.6% of the total revenues in FY2012. Revenues from Mexico reached $3,281
million in FY2012, an increase of 21.6% over FY2011.
Great Britain* accounted for 3.1% of the total revenues in FY2012. Revenues from Great Britain
reached $952 million in FY2012, an increase of 4.7% over FY2011.
Western Europe accounted for 32.2% of the total revenues in FY2012. Revenues from Western
Europe reached $9,927 million in FY2012, a decrease of 0.4% compared to FY2011.
Eastern Europe accounted for 5.5% of the total revenues in FY2012. Revenues from Eastern Europe
reached $1,684 million in FY2012, an increase of 8.2% over FY2011.
Rest of World accounted for 6.5% of the total revenues in FY2012. Revenues from rest of World
reached $2,010 million in FY2012, an increase of 33.5% over FY2011.
Corporate and others accounted for 0.1% of the total revenues in FY2012. Revenues from corporate
and others reached $23 million in FY2012, a decrease of 53.1% compared to FY2011.
*Note: As mentioned in the annual report.
MarketLine
Revenue Analysis
SWOT ANALYSIS
Magna designs, develops and manufactures automotive systems, assemblies, modules and
components, and engineer and assemble complete vehicles, primarily to original equipment
manufacturers (OEMs) of cars and light trucks. The company has a broad product portfolio and
balanced revenue streams, which enables Magna to provide end-to-end solutions and tap high value
customers. This also helps the company to balance its revenues in case of slowdown of a particular
division. However, operating in a competitive environment exerts continued pressure on the operations
of the company, which may result in a further downward price pressure that could adversely impact
Magna's financial condition and results of operations.
Weaknesses Strengths
Overdependence on few customers Broad product portfolio and balanced
revenue streams Unfunded employee pension benefits
Strong geographic foothold
Robust financial performance
Threats Opportunities
Intense competition and pricing pressure Positive outlook for the global new car
market Foreign currency fluctuations
Poised to benefit from the growing demand
for hybrid electric vehicles
Compliance with environmental laws and
regulations
Strong outlook of the global automotive
manufacturing industry
Strengths
Broad product portfolio and balanced revenue streams
Magna has a broad product portfolio and balanced revenue streams. The company offers one of
the broadest product portfolios among tier one automotive suppliers. The companys operations can
be divided in seven segments: exterior and interior systems, body systems and chassis systems,
powertrain systems, complete vehicle assembly, tooling, engineering and other, vision and electronic
systems, and closure systems. The exterior and interior systems segment design, engineer and
manufacture various interior exterior components and systems for the global automotive and
commercial truck product markets. The body systems and chassis systems segment provides metal
body systems, components, assemblies and modules.
MarketLine
SWOT Analysis
In addition, the powertrain systems segment design, engineer and manufacture powertrain systems
and components. Magnas complete vehicle assembly segment provides engineering services,
including design & vehicle concepts, complete vehicle development and integration. The tooling,
engineering and other segment designs, engineers and manufactures tooling for own use, as well
as for sale to the customers. Further, the vision and electronic systems segment is engaged in the
design engineering and manufacturing of vision systems, and electronic components and sub-systems.
The closure systems segment offers closure systems and modules, including door modules, power
closure systems and engineered glass window systems.
A broad product portfolio allows Magna to offer nearly all components of a new vehicle model, which
results in a high dollar content per vehicle. Moreover, the company has balanced revenue streams
and is not dependent on any one segment for a majority of its revenues. The companys largest
segment exterior and interior systems accounted for 37.9% of total revenues in FY2012. This was
followed by body systems and chassis systems (23.1%), powertrain systems (12.4%), complete
vehicle assembly (8.3%), tooling, engineering and other (7.5%), vision and electronic systems (6.9%),
and closure systems (3.9%). Thus, broad product portfolio and balanced revenue streams enables
Magna to provide end-to-end solutions and tap high value customers. This also helps the company
to balance its revenues in case of slowdown of a particular division.
Strong geographic foothold
The company has a diversified geographic presence. Its products are primarily sold to OEM's of
cars and light trucks across the globe primarily in North America, Europe and rest of world (primarily
Asia, South America and Africa). As of December 2012, Magna had 315 manufacturing operations
and 87 product development, engineering and sales centers in 29 countries. The company generated
significant revenues across all the geographic regions. In FY2012, the US, Magna's largest
geographical market, accounted for 22.9% of the total revenues. This was followed by Canada
(19.2% of the company's revenue); Mexico (10.6%); Great Britain (3.1%); Western Europe (32.2%);
Eastern Europe (5.5%); and rest of world (6.5%) of the overall revenues during the year.
Hence, strong geographic foothold and fairly spread revenue base ensures that the company does
not rely on any one market for a majority of its revenues, which in turn enables it to reduce its business
risk in the highly volatile industry.
Robust financial performance
The company has witnessed strong financial performance in FY2012. The companys revenues
grew by 7.3% to $30,837 million in FY2012. Also the operating and net profits of the company grew
by 20.9% and 40.8%, respectively to $1,507 million and $1,433 million, respectively. Moreover, the
company witnessed strong growth across all its business segments. In FY2012, the companys
revenues from exterior and interior systems segment grew by 5.9%, while revenues from body
systems and chassis systems segment grew by 17.6%. Further revenues from powertrain systems,
tooling, engineering and other, vision and electronic systems, and closure systems segments grew
by 4.3%, 12.2%, 3.2%, 1.9%, respectively. Thus, strong financial performance across segment
enhances its shareholder's value and allows the company to fuel its expansion plans.
MarketLine
SWOT Analysis
Weaknesses
Overdependence on few customers
Magna is highly dependent on few customers including, General Motors, BMW, Fiat / Chrysler, Ford
Motor, Volkswagen, and Daimler for a majority of its revenues. These customers contributed 82.7%
of total revenues generated in FY2012. High dependence upon a few customers reduces the
bargaining power of the company. Large customers besides using their bargaining power to impose
unfavorable terms, could try to influence the strategies of the company. For instance, in 2009,
Volkswagen threatened to cancel all of its contracts if Magna bought General Motors' German-based
Opel unit. Therefore, overdependence on few customers could have a material adverse influence
on Magna's operations thus impacting its profitability and financial condition.
Unfunded employee pension benefits
Magna has significant unfunded obligations with respect to employee future benefit plans. The
company sponsors a number of defined benefit pension plans and similar arrangements for its
employees. In FY2012, the company's employee benefit obligations stood at $858 million as compared
to the planned assets of $289 million, resulting into an unfunded status of $569 million. Unfunded
pension obligations will force the company to make regular cash contributions to bridge the gap
between pension assets and liabilities, which in turn could distress its liquidity position.
Opportunities
Positive outlook for the global new car market
The global new cars market has experienced moderate growth during 2008-2012. However, forecasts
suggest this will accelerate to strong double digit growth during the 2012-2016 periods. According
to MarketLine (a unit of Informa plc), the global new cars market generated total revenues of $1,426.6
billion in 2012, representing a growth of 9.2% compared to 2011.
The performance of the segment is forecast to accelerate, with an anticipated compound annual
growth rate (CAGR) of 10.8% for the four-year period 2012-16, which is expected to drive the industry
to a value of $2,153.2 billion by the end of 2016. Magna designs, develops and manufactures
automotive systems, assemblies, modules and components primarily to original equipment
manufacturers (OEMs) of cars and light trucks. Thus, the strong outlook for the global new car market
coupled with the companys new product launches provides a growth opportunity for the company.
Poised to benefit from the growing demand for hybrid electric vehicles
Over the last few years the demand for eco-friendly cars and electric vehicles has been rapidly
increasing as environment has become a major concern for many governments and many people
MarketLine
SWOT Analysis
around the world. According to International Energy Agency (IEA), worldwide demand for electric
and plug-in hybrid vehicles (EVs and PHEVs) is estimated to reach approximately seven million
units annually by 2020 and 100 million units by 2050. Rising energy costs and increased emissions
regulations are likely to increase the demand for hybrid-electric vehicles (HEVs), as hybrid engines
are more fuel efficient and less polluting than conventional gasoline and diesel engines. Cost
disparities between HEVs and conventional light vehicles are expected to decline as production
volumes increase. The primary markets for HEVs will be within the US, Western Europe, and Japan,
although the rapidly growing Chinese market is also expected to experience relatively strong demand
for these fuel efficient and environmentally friendly vehicles.
Magna remains focused on significantly strengthening and deepening its expertise in electric vehicle
development and electric vehicle systems. During the recent past, the company continued to make
major strides in pursuing its strategic objective of becoming one of the industry's leading hybrid and
electric vehicle systems suppliers. Magna E-Car Systems, a partnership between Magna and the
Stronach Group, is a global supplier of components and systems for hybrid and electric vehicles.
The entity provides a wide array of products, including lithium-ion cells and battery packs, electric
drive motors and generators, inverters, converters, onboard chargers, and powertrain control modules.
Also in April 2012, Magna E-Car Systems opened a plant in Grand Blanc Township, Michigan, to
manufacture components for hybrid and electric vehicles.
Thus, a growing end market auger well for the company as it is well positioned to take advantage
of the rapidly growing demand for hybrid vehicles and enhance its market position.
Strong outlook of the global automotive manufacturing industry
The global automotive manufacturing industry fell into sharp decline in 2009 before recovering with
strong growth from 2010 to 2011. The industry is expected to maintain positive but fluctuating levels
of growth from 2012 through to the end of the forecasting period in 2016. According to MarketLine
(a unit of Informa plc), the global automotive manufacturing industry had total revenue of $1,563.9
billion in 2012, representing a CAGR of 3.8% between 2007 and 2012.
Furthermore, the performance of the industry is forecast to accelerate, with an anticipated CAGR
of 6.7% for the four-year period 2012-2016, which is expected to drive the industry to a value of
$2,025.4 billion by the end of 2016. The companys complete vehicle assembly segment provides
components, systems and vehicle engineering and contract vehicle assembly services. The company
is one of the largest brand-independent assembler of complete vehicles for OEMS. The segment
offers engineering services, including design & vehicle concepts, complete vehicle development &
integration, systems & modules development, safety engineering & testing, prototype and low-volume
production, and test bed services. Thus, the strong outlook of the global automotive manufacturing
industry represents an opportunity for the company to capitalize on this industry and expand its
revenues and profits.
Threats
MarketLine
SWOT Analysis
Intense competition and pricing pressure
Magna faces intense competition across its market segments. The company competes on the basis
of pricing, product and service quality, development and introduction time, customer service and
financing terms. Magna faces strong competitors, some of which are larger and may have greater
resources in a given business area and some from emerging markets, which may have a better cost
structure. Some of its competitors include Aisin Seiki, BorgWarner, Dana Holding, GKN, Gentex,
Genuine Parts, Johnson Controls, Lear and Robert Bosch.
In addition, Magna faces pricing pressure due to intense competition across its market segments
and also due to the current global recession and industry downturn. The company is under pressure
to absorb costs related to product design, engineering and tooling, as well as other items which were
previously paid by OEMs, in order to face the current economic situation. These pressures are
expected to continue, even after the industry begins to recover. Therefore, operating in such a
competitive environment exerts continued pressure on the operations of the company, which may
result in a further downward price pressure that could adversely impact Magna's financial condition
and results of operations.
Foreign currency fluctuations
Magna conducts operations globally, which involves transactions denominated in a variety of
currencies. A significant portion of the company's revenues and expenses is denominated in
currencies other than the Canadian Dollar. Moreover, Magna generates over 80.8% of its revenues
from markets other than Canada. Therefore, the company is subject to foreign currency risks and
foreign exchange exposure. The primary exposures are to the US Dollar, the Euro, and British Pound.
Hence, the effect of changes in demand and refinancing conditions, and fluctuations in exchange
rates can have a significant impact on the company's profit on imported and exported goods.
Compliance with environmental laws and regulations
The company is subject to a range of environmental laws and regulations relating to air emissions,
wastewater discharge, waste management and storage of hazardous substances. The company is
also subject to environmental laws requiring investigation and clean-up of environmental contamination
and are in various stages of investigation and clean-up at its manufacturing facilities where
contamination has been alleged. Estimating environmental clean-up liabilities is complex and heavily
dependent on the nature and extent of historical information and physical data relating to the
contaminated sites, the complexity of the contamination, the uncertainty of which remedy to apply
and the outcome of discussions with regulatory authorities relating to the contamination.
In addition, these environmental laws and regulations are complex, change frequently and have
tended to become more stringent and expensive over time. Therefore, the company may not have
been, and in the future may not be, in complete compliance with all such laws and regulations and
may incur material costs or liabilities as a result of such laws and regulations significantly in excess
of amounts it has reserved. Further, a failure to comply with these regulations could result in fines
MarketLine
SWOT Analysis
or other penalties, which could adversely affect the company's business, financial condition and
results of operations.
MarketLine
SWOT Analysis
TOP COMPETITORS
The following companies are the major competitors of Magna International Inc.
Dana Corporation
Johnson Controls, Inc.
Lear Corporation
Robert Bosch Corporation
GKN PLC
BorgWarner Inc.
Aisin Seiki
Gentex Corporation
Genuine Parts Company
MarketLine
Top Competitors
COMPANY VIEW
A joint statement by Donald J. Walker, the Chief Executive Officer, and Vincent J. Galifi, the Executive
Vice President and Chief Financial Officer, at Magna International is given below. The statement
has been taken from the company's 2012 annual report.
2012 was another record year for Magna we achieved best ever sales and net income - our second
consecutive year of records in each of these measures. Magna's share price, in part reflecting our
strong operating performance, rose 50% in 2012, far outperforming the 7% increase of the Dow
Jones Industrial Average as well as the average increase of our closest peers.
During 2012, we continued to put our strong balance sheet to use, investing $1.9 billion in our
business, including fixed assets, investments and acquisitions. The following are some 2012 highlights:
Our fixed asset spending of $1.3 billion was at an all time high, as we continued to invest both in
our traditional markets and to further expand our footprint in growing regions such as Asia, Eastern
Europe and South America. In fact, over the past two years approximately 30% of our capital spending
has gone into regions outside of our traditional markets of North America and Western Europe.
We strengthened our position in automotive pumps through two acquisitions. We acquired ixetic
Verwaltungs GmbH, a manufacturer of automotive vacuum, engine and transmission pumps with
two manufacturing facilities in Germany and one in each of Bulgaria and China. In addition, we
acquired the remaining 50% interest in STT Technologies ("STT") from our joint venture partner.
STT is a leading supplier of transmission and engine related oil pumps serving the North American
market. The global trend towards improved fuel efficiency is a key factor that we believe will contribute
to continued growth in the automotive pump market.
We acquired BDW technologies group ( BDW ), a structural casting supplier of aluminium components,
which has operations in Germany, Poland and Hungary. BDW provides us with high-pressure casting
capabilities that can provide meaningful weight savings to our customers and complements the many
other metal forming processes that we currently employ to provide structural components to our
customers.
We acquired the controlling 27% interest in Magna E Car Systems partnership, and integrated its
operations into our existing operating units.
We also utilized our balance sheet to return cash to shareholders. In 2012, aggregate dividends
paid to shareholders amounted to$252 million. For the fourth quarter of 2012, our Board increased
our quarterly dividend by an additional 16% to a record $0.32 per share. Over the past two years
our quarterly dividend has grown by a cumulative 78%, reflecting the confidence that our Board has
in Magna's future. We also returned capital to shareholders in 2012 through our share buyback
program and our Board authorized a further Normal Course Issuer Bid, expiring in November 2013,
to purchase up to an additional 12 million Common Shares.
MarketLine
Company View
Notwithstanding the significant uses of our balance sheet over the past year, our financial position
remains strong as a result of our excellent cash flow generation, with $1.1 billion in net cash as at
December 31, 2012. This provides us with liquidity and flexibility to further invest in our business.
The following are other noteworthy operating highlights from 2012:
Our Europe segment, which incurred a loss for 2011, experienced a significant turnaround in 2012
and recorded adjusted EBIT in each quarter of 2012. We continue to have significant work in order
for Europe to reach acceptable profit levels, but we are confident that we are on the right path.
World Class Manufacturing, one of our top priorities coming into 2012, has been embraced by our
operating units globally. Based on progress reports throughout 2012, we are confident that our
actions in this area will make us an even more efficient manufacturer overall in the years to come
Magna, our operating units and manufacturing divisions once again won a number of customer
awards. For instance, GM recognized 11 of Magna's manufacturing divisions with the Supplier Quality
Excellence awards for demonstrating the highest levels of quality performance from July 2011 through
June 2012. As well, our Cosma Camacari facility in Brazil was one of 24 global supplier locations
to receive the Silver World Excellence Award from Ford. In addition, our Cosma operating unit for
the first time was awarded Volvols Quality Award of Excellence.
Our Magna Mirrors operating unit was selected as a 2012 Automotive News PACE Award winner
for its Infinity rearview mirror. The PACE awards honour superior innovation, technological
advancement and business performance among automotive suppliers. We were also a finalist for
our One-Touch Stow n' Go seat mechanism.
We have a number of ongoing technological innovations, both product and process, under
development that address our customers needs for improved fuel efficiency and mass reduction.
As an example, we commenced production of our Active Grille Shutter (AGS),a louver system that
blocks various front-end airflow openings, reducing drag - a key factor for improving vehicle gas
mileage.
Beyond these financial and operational achievements, we continued to build upon prior initiatives
to evolve our corporate governance practices. In 2012, our Board adopted shareholder-friendly
enhancements including: "say on pay", full majority voting, elimination of director stock options,
disclosure of detailed voting results, board renewal, director education and board evaluation.
Going Forward
The global automotive market remains a growth industry. Despite expected short-term softening in
Western Europe, we believe the global automotive industry will continue to experience strong growth
in the coming years, driven largely by markets in Asia, Eastern Europe and South America. As a
result, we continue to invest our financial resources in the industry, including these markets, with
our fixed asset spending for 2013 expected to exceed our 2012 level.
MarketLine
Company View
Our customers are increasingly moving to larger, global platforms and need suppliers with capabilities
in manufacturing, engineering and program management, along with the financial and human
resources, to support their activities around the world. We believe our growing global footprint, vast
technologies, capabilities, resources, and our deep understanding of our customers' needs, position
us well to be a valuable partner to the world's OEMs. This in turn should lead to Magna creating
value for our shareholders.
Our current areas of focus include:
An acceleration in our efforts in innovation of new or enhanced products, processes and materials;
Continuing to implement our Leadership Development System to allow us to identify and develop
the talent we need to support our future global growth;
Refining our product strategy to ensure we can be a leader in the products we offer to our global
customers;
Full implementation of our World Class Manufacturing initiative including successfully launching the
many facilities and programs that are starting up all around the world; and
Continuing to restructure our European operations to improve profitability and competitiveness for
the long term as well as addressing some of the issues that are affecting certain of our operations
in South America.
In closing, we wish to thank our shareholders and customers for their ongoing support during another
strong year for Magna. We also wish to thank all our employees around the world for their continued
efforts in making Magna a great company. Lastly, we wish to thank Frank Stronach, Magna's founder
and long-time chairman, who retired from our Board of Directors this past year after having made
enormous contributions since Magna's inception more than 50 years ago.
MarketLine
Company View
LOCATIONS AND SUBSIDIARIES
Head Office
337 Magna Drive
Aurora
Ontario L4G 7K1
CAN
P:1 905 726 2462
F:1 905 726 7164
http://www.magna.com
Other Locations and Subsidiaries
Magna International Japan Cosma International of America, Inc.
Yaesu Center Building 5F 600 Wilshire Drive
1-6-6 Yaesu Troy
Chuo-ku Michigan 48084
Tokyo 103-0028 USA
JPN
Magna International Inc., Thailand Magna International Japan
Central City Tower 1-16-6 Sakae
30th Floor Naka-Ku, Nagoya
1093/160 Moo 12 Bangna Trad Aichi 460-008
Bangna JPN
Bangkok 10260
THA
Magna International Russia Magna International Europe
Lane Kapranov 3 Bld. 1 Magna-Strasse 1
123242 Moscow A-2522 Oberwaltersdorf
RUS AUT
Magna International Inc. Korea Magna International China
6F Hanju Building 8F, Tower A
125 Nonhyeon 1-dong Eton Place
Gangnam-gu 69 Dongfang Road
Seoul 135-822 Pudong
KOR Shanghai 201-120
CHN
MarketLine
Locations and Subsidiaries
Magna Powertrain Magna International India
1870 Technology Drive 101 Kane Plaza
Troy Mind Space
Michigan 48083 Malad West
USA Mumbai 400 064
Maharastra
IND
MarketLine
Locations and Subsidiaries
MARKETLINE | 119 FARRINGDON ROAD | LONDON, UNITED KINGDOM, EC1R 3DA
T: +44 161 238 4040 | F: +44 870 134 4371 | E: REACHUS@MARKETLINE.COM | W: www.marketline.com

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