2024 Annual Report
Forward.
For all.
Navigating transformation. Positioning for the future. A look at how Magna delivered for customers, employees and shareholders in 2024.
By the numbers
A year of disciplined execution.
8yrs
Fortune's World's Most Admired Companies — consecutive
4yrs
Ethisphere's World's Most Ethical Companies — consecutive
100+
First-to-market innovations
100/yr
Customer recognition awards averaged annually for 10 years
7
Automotive News PACE Innovation Awards in the last 10 years
$36M
In energy cost avoidance achieved in 2024
Letter from the CEO
"We are at an inflection point for the long-term success of this industry and our company."
Amidst shifting market dynamics, rapid innovation and evolving government policies, Magna continues to take strategic steps aimed at driving future share price growth and delivering long-term value.
Swamy Kotagiri — President & CEO
Read the full letterInside the report
The work behind the numbers.
Sustainability
ECO50 saved 260,000 MWh of electricity in 2024.
Operations
64 Factory of the Future projects, 400+ implementations.
Digital
Tens of thousands of connected devices across our footprint.
Capital
~$16B returned to shareholders over the last decade.
Product
Strong product market positioning across critical segments.
Leadership