France · Delayed Price · Currency is EUR Forvia SE Earnings Call Transcripts
Fiscal Year 2026
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A definitive agreement was signed to sell the interiors business to Apollo for EUR 1.82 billion, reducing net debt by at least EUR 1 billion and gross debt by over EUR 1.4 billion. The transaction supports strategic focus, confirms all guidance, and is expected to close by year-end.
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Q1 2026 sales were EUR 5.135 billion, outperforming a declining market, with strong Electronics growth offsetting weakness in Seating due to China. Guidance for 2026 is reaffirmed, Interiors divestiture is on track, and cost-saving programs are progressing.
Fiscal Year 2025
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2025 results met or exceeded guidance, with improved margins and strong cash flow, despite a net loss from non-cash impairments. Strategic focus is on portfolio transformation, cost reduction, and growth in Electronics and Seating, with further deleveraging and margin expansion targeted by 2028.
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Q3 sales were flat organically, with strong growth in Electronics and Clean Mobility offset by currency headwinds and mixed regional performance. Guidance for 2025 is confirmed, supported by cost controls, refinancing, and a diversified order intake.
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H1 2025 saw improved operating margin, strong cash flow, and reduced net debt, despite a net loss from one-offs and restructuring. Asia and Electronics drove order growth, while cost discipline and disposals remain priorities. Guidance and leverage targets are confirmed.
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The meeting reviewed strong 2024 financials, highlighted successful deleveraging, and confirmed all board and compensation resolutions. Strategic focus remains on innovation, sustainability, and further integration with HELLA, with a comprehensive strategy update planned for the next Capital Markets Day.
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Q1 sales rose 2.6% to €6.7 billion, led by strong Seating and Electronics growth. 2025 guidance is confirmed despite tariff and production headwinds, with cost savings and refinancing supporting targets. Order intake and new launches in China underpin H2 outperformance ambitions.
Fiscal Year 2024
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2024 saw resilient performance with €26.97B sales, strong order intake, and margin stability despite a net loss from restructuring. 2025 guidance targets sales up to €27.5B, margin expansion, and further deleveraging, with no dividend to support the balance sheet.
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Q3 2024 sales outperformed the market despite a challenging environment, with strong order intake and selective growth in key segments. Cost reduction and synergy initiatives are on track, with leverage and cash flow targets reaffirmed for 2024–2025.
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Revised 2024 guidance reflects lower production, electrification slowdown, and high US inventories, but accelerated cost and synergy initiatives aim to boost 2025 performance. Growth in China and disposals support deleveraging, with no equity raise planned.
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Organic sales grew 2.7% in H1 2024, with margin improvement and strong order intake, especially in Asia. Net debt to EBITDA fell to 2.0x, and full-year guidance was confirmed at the lower end of initial ranges, with deleveraging and margin growth expected to continue.