OPmobility's full-year revenue rises, led by growth in North America

Opmobility SE

20/02/2025 06:01

Feb 20 (Reuters) - French car supplier OPmobility
 OPM.PA  reported a rise in full-year revenue in 2024,
outperforming the market despite the prolonged weakness in the
automotive industry.
    The group's consolidated revenue came in at 10.48 billion
euros ($10.92 billion) for the year to December 31, up from
10.31 billion euros a year earlier. 
    "We are also outperforming across all our geographical
regions, meaning we are fairly evenly balanced", CEO Laurent
Favre said in a call with journalists.
    The growth was mainly led by a 7.8% increase in revenue in
the North American region, which accounted for 29% of the
group's revenue.
    OPmobility, which supplies the three leading U.S. carmakers
General Motors  GM.N , Stellantis  STLAM.MI , and Ford  F.N ,
does not see any direct impact from the additional tariffs of
25% on goods from Mexico and Canada and 10% on goods from China,
announced by President Donald Trump.
    "Overall, we have a business model that protects us as we
are very regionalized, very localized. In other words, when
we're in the U.S., for the American market, we produce in the
U.S. and a large part of the components we use for our products
come from the U.S.", Favre said.
    He added the company has a strong focus on the region in
terms of investment as it presents much fewer constraints than
the European market.
    Europe is also one of the markets most affected by industry
headwinds, with weak sales and a complicated EV transition. 
    OPmobility however achieved stable performance in the
region, outperforming the market by 4.9 points according to the
S&P Global Mobility forecasts published in February.
    The group is now expecting in 2025 to improve on its
operating margin of 440 million euros, net result group share of
170 million euros and free cash flow of 246 million euros, while
reducing its 1.58 billion euros net debt.
    It will also propose a dividend of 0.6 euros per share for
2024.

($1 = 0.9599 euros)

 (Reporting by Mathias de Rozario in Gdansk; Editing by Chris
Reese)
 ((mathias.derozario@thomsonreuters.com))