Slide 1: FY2024 Results
FY2024 RESULTS RESILIENT PERFORMANCE AND NET DEBT REDUCED BY €0.4BN IN 2024 CONTINUED FOCUS ON PROFITABILITY, CASH FLOW AND DELEVERAGING IN 2025 Patrick KOLLER, Chief Executive Officer Martin FISCHER, Deputy CEO and CEO as from March 1, 2025 Olivier DURAND, Chief Financial Officer February 28, 2025
Slide 2: Agenda
01 2024 Highlights 02 2024 Financial Performance AGENDA 03 2025 Outlook 04 Takeaways P.2 | 2024 Results - February 28, 2025
Slide 3: 2024 Highlights
01 2024 HIGHLIGHTS Patrick Koller CEO P.3 | 2024 Results - February 28, 2025
Slide 4: 2024: A Year of Continued Transformation in a Challenging Environment
2024: A YEAR OF CONTINUED TRANSFORMATION IN A CHALLENGING ENVIRONMENT CONTINUED TRANSFORMATION BASED ON THREE PILLARS… TECHNOLOGY AND GEOGRAPHY SUSTAINABILITY INNOVATION including digital transformation …IN A PERSISTENTLY CHALLENGING ENVIRONMENT Economic and political instability in many geographies
Slide 5: Resilient 2024 Performance in a Difficult Environment
RESILIENT 2024 PERFORMANCE IN A DIFFICULT ENVIRONMENT CONTINUED RESILIENT NET NET DEBT/ADJUSTED OUTPERFORMANCE OPERATING MARGIN CASH FLOW EBITDA SALES OF BELOW €27bn 5.2% OF SALES €655m 2.0X GUIDANCE GUIDANCE GUIDANCE GUIDANCE BETWEEN €26.8bn BETWEEN 5.0% ≥ €550m ≤ 2.0x AND €27.2bn AND 5.3% OF SALES
Slide 6: Continuous Deleveraging Since the Acquisition of HELLA
CONTINUOUS DELEVERAGING SINCE THE ACQUISITION OF HELLA €1.8bn NET DEBT REDUCTION Net Debt in €bn 8.4 7.9 7.0 6.6 Net Debt / Adj. EBITDA 3.1x 2.7x 2.1x 2.0x End of June 2022 End of Dec. 2022 End of Dec. 2023 End of Dec. 2024 P.6 |2024 Results - February 28, 2025
Slide 7: Robust Order Intake of €31 Billion
ROBUST ORDER INTAKE OF €31 BILLION* ASIA ELECTRONICS HIGH CONTENT VEHICLES c.€11bn >€7bn c.€16bn CHINA REPRESENTING c. €9bn, KEY AWARDS FROM MAINLY DRIVEN BY MORE THAN 60% OF WHICH CHERY (COCKPIT & DISPLAY) INNOVATION FOR WITH CHINESE OEMs AND GM (VIRTUAL KEY) TECHNO LEADERS UPFRONT COSTS FURTHER RE
Slide 8: Continued Cost Reduction Through Synergies with FORVIA HELLA and EU-FORWARD
CONTINUED COST REDUCTION ACHIEVED THROUGH SYNERGIES WITH FORVIA HELLA AND THE LAUNCH OF EU-FORWARD DELIVERING ADDITIONAL EFFECTIVE START OF SYNERGIES WITH FORVIA HELLA EU-FORWARD COMPETITIVE PLAN SYNERGIES IN LINE WITH CONFIRMED 2028 TARGET OF €500m NET SAVINGS c. €400M AMBITION BY 2025 At the end-o
Slide 9: Building Sales Momentum in Asia
BUILDING SALES MOMENTUM IN ASIA ACCELERATING WITH GOING GLOBAL WITH DEVELOPING WITH and IN LEADING CHINESE PLAYERS BYD J-OEMs & INDIA STRONG PROSPECTS FROM CHINA TO EUROPE STRONG GROWTH POTENTIAL WITH CHINESE OEMs › Strong growth at Interiors, Electronics IN JIKA › Chinese OEMs accounted for close t
Slide 10: Pioneering a Sustainable Mobility Industry
PIONEERING A SUSTAINABLE MOBILITY INDUSTRY NET ZERO AT LEAST -80% -45% by 2025 by 2030 Scopes 1&2 Scope 3 CO2 absolute reduction CO2 reduction compared to 2019 compared to 2019 Energy Saving FORVIA Renewable plan (solar + wind) -67% -15% -30% 57% Scopes 1&2 Scope 3 Intensity vs. 2019 (MWh/M€) in 202
Slide 11: Measurable Progress in ESG Ratings
MEASURABLE PROGRESS IN ESG RATINGS AGENCIES SCORE A CCC B BB BBB A AA AAA B A WATER CLIMATE SUPPLY CHAIN MEMBER +3 PTS 65 VS 2023 +2 PTS 9.3 VS 2023 Severe High Medium Low Negligible 100 80 60 40 20 10 0 P.11 | 2024 Results - February 28, 2025
Slide 12: 2024 Takeaways
2024 TAKEAWAYS RESILIENT PREPARING PERFORMANCE THE FUTURE IN A DIFFICULT ENVIRONMENT SALES OUTPERFORMANCE SOLID ORDER INTAKE AND RESILIENT OPERATING MARGIN FUELED BY INNOVATION CONTINUED INCREASING EXPOSURE DEBT REDUCTION TO FAST-GROWING CUSTOMERS AND GEOGRAPHIES STRONG COMMITMENT TO SUSTAINABILITY
Slide 13: 2024 Financial Performance
02 2024 FINANCIAL PERFORMANCE Olivier Durand CFO P.13 | 2024 Results - February 28, 2025
Slide 14: Sales of €27 Billion, Operating Margin at 5.2% of Sales
SALES OF €27 BILLION, OUTPERFORMANCE OF 150BPS OPERATING MARGIN AT 5.2% OF SALES IN A DIFFICULT ENVIRONMENT €111m €(82)m €27,248m €(302)m +0.4% -0.3% Reported sales down by 1.0% €26,974m WW -1.1% Organic growth of 0.4% production of Automotive production WW production ▪ Driven by Europe and North Am
Slide 15: Seating: Solid Outperformance and Further Margin Expansion
S E AT I N G SOLID OUTPERFORMANCE AND FURTHER MARGIN EXPANSION 32% of Group consolidated sales in the period Sales +1.0% +1.8% -0.9% 8,634 8,551 Organic growth of 1.8% Outperformance of c. 290bps* ▪ Low single-digit growth in Europe and in North America ▪ China: high comparable with BYD Operating no
Slide 16: Interiors: Performance Penalized by H1 One-Off in North America
INTERIORS PERFORMANCE PENALIZED BY H1 ONE-OFF IN NORTH AMERICA 19% of Group consolidated sales in the period Sales +3.8% Mid-single digit organic growth boosted +5.0% -1.2% by tooling sales 5,108 4,923 ▪ High number of SOPs driving Outperformance of c. double-digit growth in NA 610bps* ▪ Low single-
Slide 17: Clean Mobility: Improved Margin Despite Lower Sales
CLEAN MOBILITY IMPROVED MARGIN DESPITE LOWER SALES 15% of Group consolidated sales in the period Sales -14.0% 4,832 -5.3% Organic growth penalized by -7.3% Underperformance -1.4% 4,153 electrification and customer mix of c. 420bps* Impact of CVI disposal ▪ Sales decline in Europe and North America l
Slide 18: Electronics: Solid Performance in Sales and Profitability
ELECTRONICS SOLID PERFORMANCE IN SALES AND PROFITABILITY 16% of Group consolidated sales in the period Sales +1.2% +2.6% -1.4% Organic growth in all three main 4,189 regions 4,139 ▪ Low single digit growth in Europe Outperformance of c. and North America, driven by VW 370bps* and GM respectively ▪ R
Slide 19: Lighting: Performance Impacted by Sales Drop in H2
LIGHTING PERFORMANCE IMPACTED BY SALES DROP IN H2 14% of Group consolidated sales in the period Sales +3.5% +7.2% -0.9% 3,879 3,746 -2.7% Organic sales decline Underperformance of c. reflected: 160bps* ▪ Mid-single digit growth in Europe despite weak sales in Q4 5.1% Operating ▪ Sales down in China
Slide 20: Lifecycle Solutions: Maintained High Margin in a Soft Market
LIFECYCLE SOLUTIONS MAINTAINED HIGH MARGIN IN A SOFT MARKET 4% of Group consolidated sales in the period Sales -4.5% 1,058 -3.8% Organic growth: -0.7% ▪ Lower demand in the 1,011 commercial vehicle segment ▪ Growth of the spare part segment 12.1% Operating Operating margin maintained margin of sales
Slide 21: Margin Stable in EMEA, Improved in Americas, Double-Digit in Asia
MARGIN STABLE IN EMEA AND IMPROVED IN AMERICAS DOUBLE-DIGIT MARGIN MAINTAINED IN ASIA DESPITE SALES DROP EMEA 47% AMERICAS 26% ASIA 27% of sales Outperformance of of sales Outperformance of of sales Underperformance of c. 540bps* c. 420bps* c. 400bps* +1.3% 12,651 12,607 -1.2% -0.5% +3.2% -2.8% 7,39
Slide 22: Net Loss Mostly Related to Increased Restructuring Costs
NET LOSS MOSTLY RELATED TO INCREASED RESTRUCTURING COSTS 2023 2024 Change Sales 27,248 26,974 RESTRUCTURING COSTS: Operating income before PPA 1,439 1,400 -39 +€191M vs. 2023 Amort. of int. assets acquired in business combinations (193) (190) › Restructuring costs of €362m at Group level, of which R
Slide 23: Net Cash Flow Slightly Above 2023 Level at €655M
NET CASH FLOW SLIGHTLY ABOVE 2023 LEVEL AT €655M 2023 2024 CAPEX REDUCTION ENGAGED Operating income 1,439 1,400 -€171m Depreciation and amortization, of which: 1,889 1,955 2,183 2,012 Amortization of R&D intangible assets 712 750 Other depreciation and amortization 1,177 1,204 1137 973 Adj. EBITDA 3
Slide 24: Continued Debt Reduction Supported by Net Cash Flow and Disposals
CONTINUED DEBT REDUCTION SUPPORTED BY NET CASH FLOW AND DISPOSALS €0.4bn of debt reduction €6,987m End 2024 Net debt €6,623m Net debt 2.1X 2.0x Leverage 2.0X ratio Leverage ratio End Net Cash-Flow Disposals Dividend to IFRS 16 FX & Other FORVIA End minorities dividend 2023 2024 P.24 |2024 Results -
Slide 25: Extended Group Average Maturity Through Active Debt Management
EXTENDED GROUP AVERAGE MATURITY THROUGH ACTIVE DEBT MANAGEMENT DEBT MATURITY PROFILE* December 31, 2024 €€2.3bn of new financing issued in 2024 to repay 2024-2026 maturities ▪ Diversification of financing sources, including SSD ▪ Average maturity increased from 2.9y to 3.2y NO SIGNIFICANT MATURITY B
Slide 26: Outlook
03 OUTLOOK Martin Fischer Deputy CEO P.26 |2024 Results - February 28, 2025
Slide 27: Observations from My First 100 Days
OBSERVATIONS FROM MY FIRST 100 DAYS SOLID CUSTOMER ORGANIZATION BUSINESS INTIMACY STRENGTHS Robust Business Global Footprint “Can do” attitude Group Portfolio Diversified Accountability Clear Growth Drivers Customer Base Demonstrated Best-in-class Sustainability Strong Order Intake Execution P.27 |
Slide 28: My Priorities as Next CEO
MY PRIORITIES AS NEXT CEO BEST-IN-CLASS BUSINESS INVIGORATING PERFORMANCE TRANSFORMATION CULTURE Level-up Dispose of Empower functional & operational non-strategic assets leaders & teams excellence Streamline Boost innovation through Deliver financial targets decision making partnerships and AI supp
Slide 29: 2025 Market Assumption Aligned with S&P Estimates
FORVIA’S 2025 MARKET ASSUMPTION ALIGNED WITH S&P ESTIMATES, WITH STRONG REGIONAL DISPARITIES North Europe China America -2.1% 24% -4.9% +1.9% 21% FY 2025 FY 2025 FY 2025 -4.9% +0.9% -8.7% -0.4% +7.8% -2.8% 46% VOLUMES EXPECTED FLAT VS. 2024 AT 89.5 M LVs UNFAVORABLE GEOGRAPHIC MIX OF c. -2% AT GROUP
Slide 30: 2025 Guidance: Profitability, Cash Optimization and Deleveraging
2025 GUIDANCE: FOCUS ON PROFITABILITY IMPROVEMENT, CASH OPTIMIZATION AND DELEVERAGING SALES OPERATING MARGIN NET CASH FLOW BETWEEN BETWEEN €26.3bn AND €27.5bn 5.2% 6.0% AND ≥2024 LEVEL AT CONSTANT FOREIGN EXCHANGE OF SALES i.e. €655M NET DEBT/ADJ. EBITDA RATIO ≤1.8x BEFORE DISPOSALS BEYOND THIS ORGA
Slide 31: Key Takeaways
04 KEY TAKEAWAYS Martin Fischer Deputy CEO P.31 |2024 Results - February 28, 2025
Slide 32: Key Takeaways
KEY TAKEAWAYS RESILIENT RIGHT FOCUS & PERFORMANCE RIGHT INITIATIVES IN A DIFFICULT ENVIRONMENT IN PLACE TO DELIVER ON OUR PLAN P.32 | 2024 Results - February 28, 2025
Slide 33: FORVIA - Inspiring mobility
-ORVIA Inspiring mobility
Slide 34: Q&A Session
Q&A SESSION
Slide 35: FORVIA - Inspiring mobility
-ORVIA Inspiring mobility
Slide 36: Definitions of Terms Used in This Document
DEFINITIONS OF TERMS USED IN THIS DOCUMENT SALES GROWTH OPERATING INCOME OPERATING INCOME IS THE FORVIA GROUP’S PRINCIPAL PERFORMANCE INDICATOR. IT CORRESPONDS TO NET INCOME OF • FORVIA’s year-on-year sales evolution is made of three FULLY CONSOLIDATED COMPANIES BEFORE: components: • Amortization of
Slide 37: Investor Relations
INVESTOR RELATIONS Sébastien LEROY Share tickers & ISIN code Tel: +33 1 72 36 75 70 Bloomberg Ticker: FRVIA.FP Reuters Ticker: FRVIA.PA ISIN: FR0000121147 E-mail: ir@forvia.com Adresse: 23-27, Avenue des Champs Pierreux BONDS Isin codes 92000 Nanterre (France) 2024 bonds: XS1611167856 2025 bonds: XS
Slide 38: 2025 Financial Calendar
2025 FINANCIAL CALENDAR Q1 2025 Sales (before H1 2025 Results market hours) (before market hours) May 28, 2025 October 20, 2025 April 17, 2025 July 28, 2025 Annual Shareholders’ Q3 2025 Sales Meetings in Nanterre (before market hours) (France) P.38 | 2024 Results - February 28, 2025
Slide 39: Disclaimer
DISCLAIMER IMPORTANT INFORMATION CONCERNING FORWARD LOOKING STATEMENTS This presentation contains certain forward-looking statements concerning FORVIA. Such forward-looking statements represent trends or objectives and cannot be construed as constituting forecasts regarding the future FORVIA’s resul
Slide 40: FORVIA - Inspiring mobility
-ORVIA Inspiring mobility