Magna International Files 6-K, Includes MD&A

TL;DR

**Magna International just dropped a 6-K with their MD&A, so get ready to dig into their financials!**

AI Summary

Magna International Inc. filed a Form 6-K on February 23, 2024, for the month of February 2024, indicating its annual reports are filed under Form 40-F. The filing, signed by Bassem A. Shakeel, Vice-President, Associate General Counsel and Corporate Secretary, includes Exhibit 99.1, which is the Management's Discussion and Analysis of Results of Operations and Financial Position for the registrant.

Why It Matters

This filing provides investors with access to Magna International's Management's Discussion and Analysis, offering crucial insights into the company's financial performance and position.

Risk Assessment

Risk Level: low — This is a routine regulatory filing that provides financial information, not indicating any immediate new risks.

Key Players & Entities

• MAGNA INTERNATIONAL INC. (company) — Registrant
• Bassem A. Shakeel (person) — Vice-President, Associate General Counsel and Corporate Secretary
• February 23, 2024 (date) — Filing date
• 001-11444 (other) — Commission File Number

FAQ

From the Filing

0001104659-24-026826.txt : 20240223 0001104659-24-026826.hdr.sgml : 20240223 20240223074114 ACCESSION NUMBER: 0001104659-24-026826 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 19 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240223 DATE AS OF CHANGE: 20240223 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MAGNA INTERNATIONAL INC CENTRAL INDEX KEY: 0000749098 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11444 FILM NUMBER: 24667255 BUSINESS ADDRESS: STREET 1: 337 MAGNA DRIVE STREET 2: N/A CITY: AURORA, ONTARIO, CAN STATE: A6 ZIP: L4G 7K1 BUSINESS PHONE: 9057262462 MAIL ADDRESS: STREET 1: 337 MAGNA DRIVE STREET 2: N/A CITY: AURORA, ONTARIO, CAN STATE: A6 ZIP: L4G 7K1 6-K 1 tm241263d1_6k.htm FORM 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934 For the month of February 2024 Commission File Number 001-11444 MAGNA INTERNATIONAL INC. (Exact Name of Registrant as specified in its Charter) 337 Magna Drive, Aurora, Ontario, Canada L4G 7K1 (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F ☐ Form 40-F ☒ SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. MAGNA INTERNATIONAL INC. (Registrant) Date: February 23, 2024 By: /s/ “Bassem Shakeel” Bassem A. Shakeel, Vice-President, Associate General Counsel and Corporate Secretary EXHIBITS Exhibit 99.1 Management’s Discussion and Analysis of Results of Operations and Financial Position of the Registrant for the year ended December 31, 2023, including Management’s Report on internal control over financial reporting. Exhibit 99.2 Audited Consolidated Financial Statements of the Registrant for the year ended December 31, 2023, including Auditors’ Reports on such statements and on internal control over financial reporting. Exhibit 99.3 Consent of Deloitte LLP EX-99.1 2 tm241263d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 MAGNA INTERNATIONAL INC. Management’s Discussion and Analysis of Results of Operations and Financial Position Unless otherwise noted, all amounts in this Management’s Discussion and Analysis of Results of Operations and Financial Position [“MD&A”] are in U.S. dollars and all tabular amounts are in millions of U.S. dollars, except per share figures, which are in U.S. dollars. When we use the terms “we”, “us”, “our” or “Magna”, we are referring to Magna International Inc. and its subsidiaries and jointly controlled entities, unless the context otherwise requires. This MD&A should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2023 included in our 2023 Annual Report to Shareholders. This MD&A may contain statements that are forward looking. Refer to the “Forward-Looking Statements” section in this MD&A for a more detailed discussion of our use of forward-looking statements. This MD&A has been prepared as at February 22, 2024. HIGHLIGHTS INDUSTRY PRODUCTION ENVIRONMENT • Global light vehicle production increased 8% in 2023, including increases of 9%, 11%, and 8% in North America, Europe, and China, respectively. • North American light vehicle production was negatively impacted by the UAW labour strikes at certain customers during the third and fourth quarters of 2023. SALES & EARNINGS • Total sales increased 13% to a record $42.8 billion, primarily reflecting higher global vehicle production, the launc