Magna International Inc

MG: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 94.00	Pml	Nhpzgsd

Magna: Investor Day Highlights Growth From Electrification and Advanced Driver Assistance Systems

Richard Hilgert

Sep 7, 2023

No-moat-rated Magna highlighted revenue growth from powertrain electrification, battery enclosures, and advanced driver assistance systems (which includes the acquisition of Veoneer), or ADAS. The firm expects revenue, including joint ventures, from these product areas to grow at around an 87% annualized rate from slightly less than $1.0 billion in 2022 (excluding Veoneer) to $6.0 billion-$6.5 billion in 2025. Because of the big backlog of new business, management targets research and development in these product areas to fall from 110% of revenue in 2022 to just under 20% in 2025.

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