Forvia: Q3 organic sales virtually stable

(CercleFinance.com) - Forvia reports Q3 2024 sales of E6.
36bn, down 2.6% as reported and 0.4% organically, outperforming global automotive production by 420 basis points.

Organic sales were buoyed by business with VW, Ford, Renault, Mercedes and Chery, but penalized by lower sales at Stellantis, particularly in North America, and 'a major American electric vehicle automaker.

The automotive supplier confirms its forecasts for 2024 of sales E26.8bn and E27.2bn, an operating margin between 5% and 5.3% of sales, and a net cash flow greater than or equal to E550m.

It also confirms its absolute priority on debt reduction, targeting a net debt/adjusted EBITDA ratio of less than or equal to 2x by end-2024, then less than 1.5x by end-2025, supported by the ongoing divestment program and improved cash flow generation.


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