Car parts supplier Forvia forecasts 2025 sales at around last year level
Feb 28 (Reuters) - French car parts supplier Forvia (FRVIA.PA), opens new tab said on Friday it sees sales in 2025 at around last year's level, reflecting a downturn in European and North American automotive demand dragging into the new year.
The company said it anticipates a sales drop in the contracting European and North American markets, but sees growth in the South American and Chinese markets.
Forvia has been seeking to ally with more Chinese automakers to circumvent the sales slump faced by its western customers such as Ford (F.N), opens new tab, Stellantis (STLAM.MI), opens new tab and Volkswagen (VOWG_p.DE), opens new tab.
"We have a very diversified presence in China, and quite diversified now in terms of customers. We are the fifth-largest automotive equipment supplier in China," Forvia CFO Olivier Durand said in a media conference call.
Forvia said in its annual earnings report that it sees sales between 26.3 billion euros and 27.5 billion euros ($27.32 billion and $28.56 billion) in 2025, compared with the 26.97 billion euros it reported for 2024.
The 2025 guidance is likely to be seen as more cautious, while the results for 2024 came in mixed, said Michael Foundoukidis, an analyst at ODDO BHF.
The outlook is based on the estimated worldwide automotive production of 89.5 million vehicles this year, Forvia said, and takes into account U.S. tariffs that are already enforced.
Analysts polled by the LSEG were expecting 27.74 billion euros in sales in 2025.
($1 = 0.9628 euros)
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