Forvia: adjusts targets for 2024

(CercleFinance.com) - Automotive equipment supplier Forvia has announced a downward adjustment of its targets for FY 2024, to take into account lower production prospects and an uncertain environment.


It now anticipates sales of E26.8bn to E27.2bn, an operating margin of 5% to 5.3%, net cash flow of E550m or more, and an adjusted net debt/EBITDA ratio of 2x or less at the year-end.

Forvia states its intention to accelerate its initiatives to improve performance in 2025. It a target net debt/Adjusted EBITDA ratio of under 1.5x by end-2025, supported by its ongoing disposal program.


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