2024 RESULTS IN LINE WITH GUIDANCE 

• Sales of €27bn (vs. guidance of between €26.8bn and €27.2bn), up 0.4% on an organic basis, an outperformance of 150bps vs. a drop of 1.1% in worldwide automotive production and despite unfavorable customer and geographic mix.
• Operating margin of 5.2% of sales (vs. guidance of between 5.0% and 5.3% of sales), resilient in a difficult environment, supported by improved performance at Seating, Clean Mobility and Electronics.
• Net cash flow generation of €655m (vs. guidance of ≥ €550m), at 2023 level, supported by capex reduction and inventories optimization.
• Net debt/Adjusted EBITDA ratio below 2.0x at year-end (in line with guidance of ≤ 2.0x) driven by a reduction of €0.4bn in net debt.

2025 GUIDANCE: FOCUS ON PROFITABILITY, CASH AND DELEVERAGING

• Sales: FORVIA expects sales between €26.3bn and €27.5bn in 2025 at constant exchange rates, assuming stable worldwide automotive production in line with S&P’s latest forecast.
• Operating margin: FORVIA aims at reaching an operating margin between 5.2% and 6.0% of sales in 2025, supported by initiatives for operational excellence and fixed costs reduction.
• Net cash flow: FORVIA aims at generating net cash flow ≥ 2024 level (€655m), through margin expansion and continued actions to reduce capex and inventories.
• Net debt/Adjusted EBITDA ratio: FORVIA aims at organically reducing its Net debt/Adjusted EBITDA ratio ≤ 1.8x at December 31, 2025, before disposals.

Beyond this organic deleveraging target, the group is committed to restore a solid balance sheet with the objective to reduce net debt/adjusted ebitda ratio below 1.5x in 2026, supported by disposals.

Patrick KOLLER, Chief Executive Officer of FORVIA, declared:

“Last year has been a difficult year with, notably, a decline by 2% in worldwide automotive production in the second half. The uncertainty in the European market, largely attributable to the continued slowdown of electrification, and the high level of car inventories in North America, contributed to this unfavorable second-half environment.

In this context, we accelerated our initiatives to enhance our profitability in the future and maintained our strong focus on continuing an active deleveraging of the company. We met all the targets of our 2024 guidance, as adjusted late September to reflect lower production outlook and uncertain environment for the second half, and we reduced the Group’s net debt by around €0.4 billion. We also recorded a new year of strong order intake with €31 billion that will fuel future growth.

Once again, I would like to thank all FORVIA’s teams for their remarkable efforts in achieving this performance. As I am handing over to Martin, I would like to say it has been an honor for me to lead this great company, work with outstanding teams and contribute, over the past ten years, to transforming it into an undisputed tech leader in its industry, further enhanced by joining forces with HELLA.”

Martin FISCHER, Deputy Chief Executive Officer of FORVIA and Chief Executive Officer of FORVIA as from March 1, 2025, declared:

“I am proud to succeed Patrick and become the next CEO of FORVIA, a Group that boasts so many strengths. I am convinced that people at FORVIA are one of its invaluable assets and that, together, we will seize opportunities to reinforce excellence and further improve performance, continue the business transformation centered around innovation and sustainability, and shape the Group for the next decade.

In the shorter term, regarding 2025, focus is to improve profitability through our own initiatives, and generate more recurring net cash flow. Through this sustainable increase in cash generation, we will accelerate deleveraging of the company from an organic standpoint. This will be boosted by disposals.”

See full press release in the PDF below