By Rachel More and Christina Amann
BERLIN -German car parts supplier Aumovio reported a smaller-than-expected drop in third-quarter operating profit on Friday, in the first results since its spin-off from tyre maker Continental.
The company, which debuted on the Frankfurt stock exchange in September, faces tough a market, with Europe’s auto sector buffeted by tariffs, cheap Chinese competition and supply chain uncertainty.
Adjusted earnings before interest and tax dropped 30% year-on-year to 150 million euros ($175 million), but beat the 142 million euros forecast in a company poll of analysts.
Sales fell 6.4% to 4.5 billion euros, just below forecast.
SHARES RISE
“The first nine months as well as our third quarter have proven our strength as an independent company,” CEO Philipp von Hirschheydt said in a statement.
Aumovio shares were up 6.3% at 0830 GMT.
The company now expects full-year sales of between 18 billion and 19 billion euros, narrowing its previous guidance range of 18 billion to 20 billion euros.
It confirmed its forecast for a 2025 adjusted operating profit margin at the upper end of a range of 2.5% to 4%.
Aumovio made no mention of the possible impact of supply pressures caused by a diplomatic fight over Nexperia, a Dutch chipmaker owned by China’s Wingtech.
Aumovio is among the suppliers applying for exemptions from Chinese export restrictions on Nexperia chips, which are used widely in car parts and consumer electronics.
($1 = 0.8575 euros)
(Additional reporting by Bernadette Hogg. Editing by Miranda Murray and Mark Potter)
