Aumovio beats first-quarter profit expectations on cost cuts, improved product mix (updated)

Continental AG

07/05/2026 06:14

Adds profitability margin in paragraph 3, CEO quote in 4 and background in 7

May 7 (Reuters) - German automotive supplier Aumovio AMV0n.DE reported a better-than-expected first-quarter operating profit on Thursday, helped by cost cuts and an improved product mix.

The company, spun off from tyre maker Continental CONG.DE last year, posted an adjusted operating profit of 106 million euros ($124.6 million), up from 93 million last year. Analysts polled by Vara had expected 102.5 million euros.

Its profitability margin improved to 2.4% from 1.9%, coming ahead of the 2.3% expected by analysts.

"Despite persistent market weakness, we have achieved a solid start to our first full fiscal year," said CEO Philipp von Hirschheydt, confirming full-year guidance.

Aumovio, which manufactures brakes and safety systems, vehicle software, displays and electronics, said it has identified suitable investors for its sites in Mechelen, Belgium, and Rheinboellen, Germany.

Both transactions remain subject to regulatory approvals and are expected to close in the coming months.

The company aims to cut up to 5,500 jobs worldwide by the end of the year under a major cost-reduction programme focusing on 45 production sites at most, as it seeks to become leaner and boost margins. It is aiming for a long‑term operating margin of 6%–8%, compared with 3.9% in 2025.

($1 = 0.8509 euros)

 (Reporting by Amir Orusov; Editing by Subhranshu Sahu)

 ((Amir.orusov@thomsonreuters.com))