OPmobility's third-quarter revenue rises amid reorganization

By Mathias de Rozario and Etienne Breban

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

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.

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

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

• 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

• "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

https://www.reuters.com/graphics/OPMOBILITY-SHARES/jnpwokdokpw/chart.png

($1 = 0.8903 euros)