Forvia: lower end of target ranges for 2024

(CercleFinance.com) - Forvia now forecasts sales and operating margin for 2024 at the lower end of the initial target ranges published last February, i.
e. between 27.5 and 28.5 billion euros and between 5.6 and 6.4% of sales, respectively.

For the first half of the year, the automotive supplier reported net cash flow up by 16.3% to 201 million euros, and an operating margin up by 0.2 points to 5.2%, on virtually stable sales (-0.6%) of 13.5 billion.

In organic terms, sales rose by 2.7% in 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 geographic mix).

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