FORVIA Deutz AG Q1 Report 2024
- SALES ORGANIC GROWTH OF +3.1%, REFLECTING OUTPERFORMANCE IN ALL BUSINESS GROUPS, NOTABLY CLEAN MOBILITY AND INTERIORS
- By region, Group’s outperformance was driven by North America.
- Excluding negative geographical mix of 140bps, outperformance stood at 530bps.
- BUILDING FURTHER MOMENTUM ON SALES AND SUSTAINABILITY
- Robust and selective order intake of €6.5 billion in Q1 2024 vs. €5.5 billion in Q1 2023, mostly driven by Asia.
- New strategic joint venture with Chery in China in the field of smart and sustainable cockpits with the ambition to reach €1 billion in 2029.
- New developments for MATERI’ACT with the signing of two key partnerships in the US and China to promote recycled compounds and new materials.
- FOCUS ON DELEVERAGING AND DEBT MANAGEMENT
- Circa 25% of the second €1 billion disposal program was already achieved through the closing of the sale by FORVIA HELLA of its 50% stake in BHTC and the agreement to sell Hug Engineering for an enterprise value of c. €55m.
- Issuance of €1.2bn of new debt instruments to replace significant part of 2024 and 2025 maturities by 2029 and 2031 maturities.
- FY 2024 GUIDANCE CONFIRMED, ON TRACK TO REACH POWER 2025 AMBITION
