Forvia Se (FURCF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to our 2025 half-year results call. I'm presenting this morning together with our CFO, Olivier Durand. I'll start by sharing our H1 highlights. Then Olivier will walk you through the financial results. And in the end, I'll wrap up with our outlook for the rest of the year. So starting with our H1 highlights, I will present them as three distinct chapters that match the three pillars of our strategy, performance, transformation, and culture. I'm very pleased, in fact, to report that we have made solid progress on all three of these priorities that we set out earlier this year. First, our drive for best-in-class performance is reflected in increased operating margin and stronger cash flow. Second, our business transformation has gained further momentum, both in terms of portfolio review and disposal execution. And third, when it comes to invigorating our culture, we are reorganizing and simplifying our operating model. This will support a more agile and efficient organization. These three priorities are being emphasized by two key management changes. Olivier Lefebvre has been appointed to group COO with a clear objective to drive performance. And Carla Gohan has been recruited as group strategy officer, also in charge of technology and innovation. She will drive the business transformation of the group. Both of them were closely with me and the executive committee to shape Forvia's value creation. Let's move to the results. As you can see in the summary chart, in H1, we have delivered a series of solid financial metrics. All of them confirm the trajectory of our full year guidance. We managed an organic sales growth of 1.1%, whereas product sales, in fact, grew by 2.9%. Strict cost control, effective tariff mitigation, an...