2024-10-28 06:15:00
Automotive equipment manufacturer OPmobility continued to resist in a weak automotive market in the third quarter with turnover up slightly (+2.9%) over the period, according to results published on Monday. The group (formerly Plastic Omnium) recorded 2.5 billion euros in turnover. With global automobile production falling in the third quarter, to -4.8% year-on-year, many automotive giants have revised their targets downward.
OPmobility confirmed its figures for the year, aiming for an improvement in “all its financial aggregates” (operating margin, net income, free cash flow and net debt) compared to 2023. “This solid performance demonstrates the strength of our economic model, but also the agility and mobilization of our teams who have been able to adapt to a market marked by significant drops in volumes”underlined the group’s general director, Laurent Favre, in the press release.
The automotive supplier had already resisted the weakness of the automotive market well in the first half of the year with stable net profit and a slight increase in turnover (+2.1%). Its turnover had reached 5.4 billion euros, driven by the United States, with an increase in its production of modules (invisible parts inside the body) for Tesla in Austin (Texas) . The boss of the equipment manufacturer indicated in mid-October that he was in favor of a review of the ban on thermal engines in Europe in 2035, without which automobile production would still be strongly impacted.
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