OPMobility up 11% after outperforming the market in Q3

Opmobility SE

28/10/2024 08:25

** Shares in OPMobility  OPM.PA  rise 11% after the French
auto parts supplier released its Q3 revenue, outperforming the
automotive market
    ** It reported a 2.46 billion euros  ($2.66
billion)consolidated revenue in Q3, compared with 2.39 billion
euros a year ago
    ** "All divisions outperformed the market, and we note that,
as expected, Modules (+23.7% lfl), made a particularly strong
contribution to the outperformance", Midcap analyst Julien
Thomas says
    ** OPMobility also confirmed its full-year outlook after
guidance cuts from clients and competitors like Valeo and Forvia
    ** Midcap analyst adds the company is not under-performing
its market in China, a sign that its join venture YFPO is
repositioning itself in favour of local manufacturers
    ** Shares reached their highest price in three-months


($1 = 0.9248 euros)

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