OPmobility's third-quarter revenue rises amid reorganization

OPmobility Q3 Revenue Up 2.8% Despite Industry Headwinds and Restructuring

OPmobility Reports Third-Quarter Performance Amid Industry Challenges

By Mathias de Rozario and Etienne Breban

Oct 21 (Reuters) - French car parts supplier OPmobility reported a rise in third-quarter revenue on Wednesday, even as it undergoes restructuring amid broader weakness in the automotive industry.

Restructuring and Revised Targets

Earlier this month, the company lowered its 2026 targets and said it would cut about 770 jobs in Europe, citing lower global auto production forecasts, customer activity adjustments in Europe and delays in the hydrogen mobility market.

Q3 Revenue Highlights

Overall Revenue Growth

• Quarterly consolidated revenue rose 2.8% on a like-for-like basis to 2.44 billion euros ($2.74 billion)

Business Segment Performance

Exterior and Lighting

• The exterior and lighting business drove growth, rising 4.1% like-for-like, followed by modules at 3.2% and powertrain at 0.5%

Regional Performance

• The company outperformed the global automotive production forecast in Europe, with like-for-like growth of 8.6%, largely driven by module assembly and exterior solutions production in Eastern Europe

• North America and Asia underperformed, falling 5.9% and 11.6%, respectively, like-for-like

Strategic Outlook

• "The decision to ease restrictions on combustion engine vehicles does not change much for OPmobility. We are sticking to a strategy of diversifying our propulsion systems," finance chief Olivier Dabi said in a call with journalists

($1 = 0.8903 euros)

(Reporting by Mathias de Rozario and Etienne Breban in Gdansk; Editing by Diti Pujara)