PARIS (Reuters) – Forvia reported on Monday a 3.7% drop in its turnover in the third quarter due to negative currency effects, but confirmed its 2025 objectives thanks to its cost reduction plans in Europe as well as globally.
The automotive supplier, specialist in car seats and interiors, achieved consolidated sales of 6.12 billion euros over the past three months. Excluding the impact of the fall of the European currency against the dollar and the renminbi, turnover appears stable in organic data.
Forvia, which underlines in a press release that the third quarter was marked by “increased volatility”, confirmed that it is targeting this year a turnover of between 26.3 and 27.5 billion euros, at constant exchange rates, against 27 billion in 2024, and an operating margin of between 5.2% and 6.0% (5.2% last year), thanks to its European competitiveness plan to which came add a global cost reduction plan of 110 million euros.
It also confirmed its debt reduction objectives, for which “the disposal processes are progressing in accordance with (its) objectives”.
Forvia announced at the end of 2023 a second divestment plan of around a billion euros, a quarter of which has been completed and which it intends to finalize in 2026.
During a press conference call, financial director Olivier Durand indicated that discussions on several files were underway with manufacturers and investment funds.
(Written by Gilles Guillaume, edited by Augustin Turpin)
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