Forvia : HELLA preliminary release unlikely to improve sentiment over suppliers
>FY performance likely below expectations on earnings but FCF strong - Ahead of Forvia’s FY release on Monday morning, HELLA this morning released preliminary figures for 2023 broadly in line with the guidance and indicating an € 11bn order intake in 2023 (1.3x sales). In detail, revenue came in at € 8.1bn, i.e. at the low-end of the range of € 8.0-8.5bn (vs group guiding to the midpoint at the Q3 stage), with the group indicating it has notably suffered from some mod...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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