Car parts maker Forvia raises 2023 targets on stronger auto production
27/07/2023 06:00
July 27 (Reuters) - Forvia FRVIA.PA , the European car
parts maker born from Faurecia's takeover of Hella HLE.DE , on
Thursday raised its annual sales and margin forecasts, saying it
expected global automotive production to grow faster than
previously anticipated.
The world's seventh-largest automotive supplier sees 2023
sales of 26.5-27.5 billion euros ($29.4-30.5 billion), up from
the previous outlook of 25.2-26.2 billion, and an operating
margin of between 5.2% and 6.2% of sales, versus 5% to 6%
before.
($1 = 0.9007 euros)
(Reporting by Michal Aleksandrowicz in Gdansk; Editing by Milla
Nissi)
((michal.aleksandrowicz@thomsonreuters.com ;
gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))