Navigating Transformation, Positioning for the Future
Swamy Kotagiri — President & CEO
We experienced another year of headwinds in the automotive industry. Amidst shifting market dynamics punctuated by increased competition, market share shifts among OEMs, rapid innovation, and evolving government policies, Magna continued to take strategic steps aimed at driving future share price growth and delivering long-term value for our customers and shareholders.
I am confident that the actions taken this past year position Magna to overcome challenges and capitalize on opportunities. At the heart of Magna lies a culture powered by a talented workforce — one of our largest shareholder groups — that is committed to delivering operational excellence for our customers.
Collectively, we have an ownership mentality, and are focused on relentless manufacturing execution, strong product market positioning, and financial discipline to deliver value to stakeholders. We remain confident in our ability to outpace market growth based on our history of execution, scale advantages, and the breadth of capabilities.
As a team, we remain laser-focused on achieving continuous productivity improvements to offset customer price givebacks and to expand our margin. In 2024, we restructured or consolidated more than 40 Magna divisions to enhance productivity and drive profitability.
"These measures are not merely about cutting costs but creating a strong foundation to be even more well-positioned to deliver for our customers."
We launched 64 Factory of the Future projects resulting in more than 400 implementations and tens of thousands of devices connected across Magna divisions targeting efficiency, quality control and flexibility.
Our internal ECO50 sustainability initiative launched in 2024 saved 260,000 megawatt hours of electricity — the equivalent of planting more than 4.6 million trees or powering approximately 24,000 homes for a year. That's $36 million in cost avoidance to Magna.
Returning capital to our shareholders remains a key element of our capital allocation strategy. In late 2024, we resumed share repurchases and in early 2025 we increased our dividend as we have for 15 consecutive years. Over the last decade, we have returned approximately $16 billion to shareholders through share repurchases and dividends.
Moving forward, we are optimistic about our ability to continue navigating a dynamic environment, including the challenges posed by the evolving trade and tariff landscape. There are obstacles to address and opportunities to seize. We are ready for both because our culture is based on continuous improvement and innovation.
Thank you for your continued trust and support. By staying disciplined in our execution, leveraging our deep product expertise and being agile in our decision-making, we are well positioned to deliver lasting value to our shareholders, customers and employees.
Swamy Kotagiri
President & CEO, Magna International Inc.