Forvia: bottom of target range forecast in 2024
(CercleFinance.com) - Forvia says it now expects its sales and operating margin for 2024 to be at the bottom of the initial target ranges published last February, i.
e. between E27.5bn and E28.5bn and 5.6% and 6.4% respectively.
For H1, the automotive equipment supplier reported net cash flow up 16.3% at E201m, with an operating margin that rose 0.2 point to 5.2%, on almost flat sales (-0.6%) of E13.5bn.
In organic terms, sales rose by 2.7% on a virtually stable market (-0.2%), thus outperforming global automotive production by 2.9 points (and by +4.6 points excluding the impact of an unfavorable geographical mix).
Copyright (c) 2024 CercleFinance.com. All rights reserved.
e. between E27.5bn and E28.5bn and 5.6% and 6.4% respectively.
For H1, the automotive equipment supplier reported net cash flow up 16.3% at E201m, with an operating margin that rose 0.2 point to 5.2%, on almost flat sales (-0.6%) of E13.5bn.
In organic terms, sales rose by 2.7% on a virtually stable market (-0.2%), thus outperforming global automotive production by 2.9 points (and by +4.6 points excluding the impact of an unfavorable geographical mix).
Copyright (c) 2024 CercleFinance.com. All rights reserved.