(News Bulletin 247) – Total revenue amounted to 5,482 million euros in the 1st quarter of 2023, up 11% compared to 2022 on a restated basis (+8% over the period at scope and rate of constant changes). The turnover is supported by the acceleration of the ADAS and high voltage electric propulsion activities, specifies the group.
Original equipment sales were up 13% at constant scope and exchange rates on a restated basis (+10% over the period at constant scope and exchange rates), benefiting from the recovery in global automotive production, mainly in Europe and North America.
Revenue in the replacement market grew by 6% at constant scope and exchange rates on a restated basis, despite an unfavorable base effect linked to the strong growth in activity over the same period in 2022.
The group confirms its objectives for 2023. These objectives relate to an improvement of 0.8 to 1.6 points compared to the 2022 profitability restated (ie operating margin including the high voltage electric propulsion activity within the Propulsion Systems Division at from January 1, 2022), a significant improvement in free cash flow generation (compared to restated 2022 free cash flow) and a significant improvement in financial performance in the 2nd half of 2023 compared to the 1st half.
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