Forvia Se · EURONEXT:FRVIA
Forvia — H1 2025 Earnings Presentation
23 slides from Forvia's earnings presentation, Jul 28, 2025
Slide 1: 2025 Half-Year Results
2025 HALF-YEAR RESULTS July 28th, 2025
Slide 2: Agenda
AGENDA 01 H1 2025 Highlights 02 H1 2025 Financial Results 03 FY 2025 Outlook P.2 | 2025 H1 Results - July 28, 2025
Slide 3: H1 2025 Highlights
01 H1 2025 Highlights P.3 | 2025 H1 Results - July 28, 2025 zeW3484E
Slide 4: First milestones delivered, anchored in three pillars
FIRST MILESTONES DELIVERED, ANCHORED IN THREE PILLARS Best in Class Business Invigorating Performance Transformation Culture › Solid H1 operational › Comprehensive › Organization model performance achieved, review of the portfolio being transformed within FY guidance performed › SIMPLIFY project › N
Slide 5: Cost and cash discipline driving H1 solid performance
COST AND CASH DISCIPLINE DRIVING H1 SOLID PERFORMANCE Net Debt / Sales Operating Margin Net Cash-Flow Adj. EBITDA € 13.5BN 5.4% € 418M 1.8x vs. €13.5BN in H1 2024 vs. 5.2% in H1 2024 vs. €201M in H1 2024 vs. 2.0x at end-2024 › Organic growth of 1.1% › Reduction of fixed costs › €145M reduction of ›
Slide 6: Strengthening performance in China and with Chinese OEMs
STRENGTHENING PERFORMANCE IN CHINA & WITH CHINESE OEMS 2 new plants for BYD and CHERY › The Seating business now has factories next to each BYD plant in China › Following the JV created with CHERY in 2024, additional plant mid 2025 Vertical integration with Chinese players › JV with Farwon to jointl
Slide 7: Strengthening performance: order growth in Asia and Electronics
STRENGTHENING PERFORMANCE ORDER GROWTH IN ASIA & ELECTRONICS Main advanced technologies successes H1 2025 › vs €15BN in H1 2024 › Zone controllers ORDER INTAKE • Three major awards for European premium › Delayed tenders, notably in OEMs representing total orders of over 1bn North America (tariffs im
Slide 8: Launch of SIMPLIFY project
STRENGTHENING PERFORMANCE LAUNCH OF SIMPLIFY PROJECT Develop SG&A and indirect operations to competitive level Simplify structure €110M cost base › Fewer organizational layers reduction target › Elimination of non-added-value tasks by 2028 › Leaner processes › Automation with AI Backed by €150M rest
Slide 9: Business transformation in motion
BUSINESS TRANSFORMATION IN MOTION Comprehensive › Leadership positions per product line rather than overall size review of the portfolio › 6 Business Groups and 24 Product Lines: linking, simplifying, stopping › Adjusting hydrogen businesses Deleveraging to market realities remains top priority Ongo
Slide 10: Invigorating culture: new division centric operating model
INVIGORATING CULTURE NEW DIVISION CENTRIC OPERATING MODEL REINFORCES ACCOUNTABILITY P&L flow Group Global Business Groups › Clear P&L accountability throughout the Group Regional Divisions › Empower decision-making to enhance performance Plants › Divisions are our operational backbone › Regions and
Slide 11: H1 2025 Financial Results
02 H1 2025 Financial Results Olivier Durand CFO P.11 | 2025 H1 Results - July 28, 2025 zeW3484E
Slide 12: Revenue of €13.5bn
REVENUE OF €13.5BN Organic growth driven by +1.1% ON AN ORGANIC BASIS Electronics and Seating H1 2024 vs. H1 2025 Sales in €M +209 +155 +10.0% +3.7% +148 -205 13,534 Electronics Seating 13,477 +1.1% Strong Forex headwind -1.5% starting in Q2 o/w Product sales: +2.9% +33 +0.5% Q2 Q1 USD CNY -3.4% TRY
Slide 13: 2 pts outperformance excluding negative geo mix
2 PTS OUTPERFORMANCE H1 Auto production +3.1% EXCLUDING NEGATIVE GEO MIX FORVIA organic growth +1.1% FORVIA negative geo mix -4pts North America China -4% FORVIA +2% FORVIA Organic growth in all regions -4% S&P +12% S&P except North America AT MARKET Europe +2% FORVIA -10 PTS › Robust growth in Asia
Slide 14: Operating margin improvement
OPERATING MARGIN IMPROVEMENT SUSTAINED BY IMMEDIATE COST CUTTING MEASURES AND STRUCTURAL COST BASIS ADJUSTMENTS Strict cost control in €M › Fixed cost reduction: hiring freeze, reduction of non-permanent contract, +90 -105 travel restrictions… +57 -20 722 700 1st benefits of EU-FORWARD › EU-Forward
Slide 15: Margin expansion driven by Seating and Electronics
MARGIN EXPANSION DRIVEN BY SEATING SEATING AND ELECTRONICS Operating leverage in China and Europe ELECTRONICS Continued improvement of Clarion and HELLA €722M | 5.4% €700M | 5.2% INTERIORS Increase driven by Europe; underperforming Seating plants impacted North America 4.6% 5.5% LIGHTING Electronics
Slide 16: Net loss coming from restructuring costs and Symbio one-off
NET LOSS COMING FROM RESTRUCTURING COSTS AND SYMBIO ONE-OFF Restructuring costs EU-FORWARD ahead of schedule in €M H1 2025 H1 2024 Change › H1 2025 announcements of 2,100 Sales 13,477 13,534 headcount reduction, adding to the 2,900 Operating income 722 700 in 2024 Purchase Price Allocation (92) (93)
Slide 17: Net cash flow doubling with enhanced quality
NET CASH FLOW DOUBLING WITH ENHANCED QUALITY Capex and capitalized R&D cut by € 232M VS. H1 2024 in €M H1 2025 H1 2024 Change Operating income 722 700 +22 › 35% of capex reduction, primarily in Europe Depreciation and amortization 1,040 935 +105 › 17% of capitalized R&D reduction, driven by 11% decr
Slide 18: Debt profile improved through active refinancing
DEBT PROFILE IMPROVED THROUGH ACTIVE REFINANCING Diversification of funding sources › Eurobond market (€1,000m) in €M › Inaugural US bond (USD 500m) › Schuldschein (c. €220m) July 28, 2025 (pro forma) 2026 maturities largely cleared 3,000 › Average debt maturity of 3.3 years vs 3.1 end of 2024 2,000
Slide 19: FY 2025 Outlook
03 FY 2025 Outlook Martin Fischer CEO P.19 | 2025 H1 Results - July 28, 2025 zeW3484E
Slide 20: Managing H2 2025 volatility to protect profitability
MANAGING H2 2025 VOLATILITY H2 Auto production TO PROTECT PROFITABILITY (S&P’s July estimates) › At 45m LVs, flat compared to H1 2025 › To decline by 2.2% compared to H2 2024 Continue strict cost and cash discipline Address challenges and seize opportunities in all regions North China -2.5% › Reap a
Slide 21: 2025 guidance confirmed
2025 GUIDANCE CONFIRMED Net DEBT/ Sales Operating Margin Net Cash-Flow Adj. EBITDA Ratio Between 26.3BN € and Between 5.2% 6.0% and ≥€655M ≤ 1.8x € 27.5BN of Sales i.e. 2024 level In 2025, at constant on an organic basis** exchange rates* *2024 average exchange rates: **With no net contribution from
Slide 22: Our roadmap is clear
OUR ROADMAP IS CLEAR Best in Class Business Invigorating Performance Transformation Culture Solid foundations for a new strategic plan To be presented during our Capital Market Day on February 24, 2026 P.22 | 2025 H1 Results - July 28, 2025 zeW3484E
Slide 23: FORVIA - Inspiring mobility
-ORVIA Inspiring mobility