Forvia, the automotive supplier born from the acquisition by Faurecia of its German competitor Hella, announced on Monday that it is aiming for an improvement in its financial results in 2023. The group expects a turnover this year of between 25,200 and 26,200 million euros and an operating margin of between 5% and 6% of turnover, based on an annual global automobile production of 82 million vehicles.
An increase in turnover of 17%
For 2022, Forvia reported revenue of €25.46 billion, up 17% at constant scope and exchange rates, as well as an operating margin of 4.4%, in line with its targets. The group said in October that it expected a turnover for 2022 of between 24.5 and 25.5 billion euros and an operating margin of between 4 and 5% of sales.
Regarding the Hella integration, finalized in early 2022, Forvia now says it is targeting synergies and cost optimization at more than €300 million in EBITDA 2025, up from more than €250 million previously. Faurecia also announced on Sunday the sale of its “SAS” Cockpit Modules division to the Motherson group, for an enterprise value of 540 million euros, as part of a broader objective to sell its non-strategic assets for a total value of 1 billion euros. euros. .
Source: BFM TV
