Forvia : A pause for breath that does not call into question the equity story’s appeal
>H1 2023 in line, few revisions to be expected from the upgrade to targets - Forvia’s H1 2023 earnings came in broadly in line with expectations and showed a further sequential improvement (operating margin of 5.0% vs 4.7% in H2 2022) in a context of a gradual easing in the environment (volumes, inflation). However, while the supplier did indeed raise its full-year targets as expected, mainly to factor in a more optimistic LVP scenario (+5% vs stable), the scale of th...Faurecia is an automobile equipment supplier based in France. Co.'s activities can be divided into four business units: Automotive Seating (design of vehicle seats, manufacture of seating frames and adjustment mechanisms, and assembly of complete seating units); Emissions Control Technologies (design and manufacture of exhaust systems); Interior Systems (design and manufacture of instrument panels, door panels and modules, and acoustic components); and Automotive Exteriors (design and manufacture of front ends and safety modules). Some of Co.'s customers are PSA Peugeot Citroen, VW Group, Renault-Nissan, Ford Group, BMW and GM Group.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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