OPmobility's full-year revenue rises, led by growth in North America

(Reuters) - French car supplier OPmobility reported a rise in full-year revenue in 2024, outperforming the market despite the prolonged weakness in the automotive industry. The group's consolidated revenue came in at 10.48 billion euros ($10.92 billion) for the year to December 31, up from 10.31 billion euros a year earlier.

"We are also outperforming across all our geographical regions, meaning we are fairly evenly balanced", CEO Laurent Favre said in a call with journalists.

The growth was mainly led by a 7.8% increase in revenue in the North American region, which accounted for 29% of the group's revenue.

OPmobility, which supplies the three leading U.S. carmakers General Motors, Stellantis, and Ford, does not see any direct impact from the additional tariffs of 25% on goods from Mexico and Canada and 10% on goods from China, announced by President Donald Trump.

"Overall, we have a business model that protects us as we are very regionalized, very localized. In other words, when we're in the U.S., for the American market, we produce in the U.S. and a large part of the components we use for our products come from the U.S.", Favre said.

He added the company has a strong focus on the region in terms of investment as it presents much fewer constraints than the European market.

Europe is also one of the markets most affected by industry headwinds, with weak sales and a complicated EV transition.

OPmobility however achieved stable performance in the region, outperforming the market by 4.9 points according to the S&P Global Mobility forecasts published in February.

The group is now expecting in 2025 to improve on its operating margin of 440 million euros, net result group share of 170 million euros and free cash flow of 246 million euros, while reducing its 1.58 billion euros net debt.

It will also propose a dividend of 0.6 euros per share for 2024.

($1 = 0.9599 euros)

(Reporting by Mathias de Rozario in Gdansk; Editing by Chris Reese)