Forvia : Significant step-up still required in H2 despite guidance adjustment
>H1 broadly in line, guidance slightly cut but still aims for major H2 improvement - A day after Hella posted its own results, Forvia H1 earnings came in broadly in line with expectations (revenues in line, Adj. EBIT 4% below, FCF 5% above), confirming the challenging times for the supplier in current environment. As a result and in line with Hella the day before, it maintained its FY guidance but indicated sales and operating margin were now expected in the lower en...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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