OPmobility shares plummet on lowered core profit target

Forvia SE

08/10/2026 09:03

** Shares in OPmobility OPM.PA fall 19.5% to the bottom of Paris' SBF 120 index .SBF120 after the French car parts supplier lowered its 2026 core earnings target on Wednesday and said it would cut about 770 jobs in Europe 
** It now expects yearly operating margin to be €430-450 million ($481-504 million), down from its previous target of more than €490 million
** OPmobility says it is facing a more pronounced deterioration in automotive market conditions than previously anticipated
** "This represents a drastic and severe downward revision of the group’s ambitions for 2026, whilst several peers have recently maintained their targets, or even implicitly signalled an upward shift towards the top of their range," TP ICAP Micap analyst says
** Peers Valeo VLOF.PA and Forvia FRVIA.PA were down 6.0% and 8.3%, respectively, at 0748 GMT 
** OPmobility also announced a restructuring plan in Europe, including some 770 job cuts and a one-time cost of €120-130 million in 2026
** Its shares are on track for their worst day since October 2023 if the losses hold
($1 = 0.8934 euros)

(Reporting by Mathias de Rozario)
((mathias.derozario@thomsonreuters.com))