• Magna average ebit margin for 2023 was 4.32%, a 2.04% increase from 2022.
• Magna average ebit margin for 2022 was 4.41%, a 28.87% decline from 2021.
• Magna average ebit margin for 2021 was 6.2%, a 56.96% decline from 2020.

Ebit margin can be defined as earnings before interest and taxes as a portion of total revenues