Magna Half-Year Report 2022

In the second quarter of 2022:

• Global light vehicle production increased 2% from the second quarter of 2021, including a 14% increase in North America and a 1% decrease in Europe, our two largest markets.
• Total sales increased 4% to $9.4 billion, compared to $9.0 billion in the second quarter of 2021. The increase largely reflects higher global light vehicle production, the launch of new programs and customer price increases to recover certain higher input costs. These were partially offset by the net weakening of foreign currencies against the U.S. dollar.
• Excluding foreign currency translation and divestitures, net of acquisitions, total sales increased 12%.
• Diluted loss per share was $0.54. Adjusted diluted earnings per share were $0.83, a decrease of $0.57 compared to the second quarter of 2021, primarily as a result of higher net production input costs, and operating inefficiencies and other costs at a facility in Europe.
• We recorded non-cash impairment charges of $376 million [$361 million after tax] related to our investment in Russia.
• Cash from operating activities was $421 million, a decrease of $107 million from the second quarter of 2021.
• We returned $342 million to shareholders by way of share repurchases and dividends.