Forvia: 2025 Q3 Sales: Revenue of €6.1 Billion, Stable on an Organic Basis. Strong Financial Discipline. 2025 Guidance Confirmed

NANTERRE (FRANCE)
OCTOBER 20, 2025

THIRD-QUARTER 2025 SALES

REVENUE OF €6.1 BILLION, STABLE ON AN ORGANIC BASIS

STRONG FINANCIAL DISCIPLINE

2025 GUIDANCE CONFIRMED

• STABLE ORGANIC SALES
  • Reported sales down 3.7% due to a negative currency impact of €238m (-3.7%),
  • Organic growth of 1.1% in product sales
  • Solid growth in Electronics, Clean Mobility and Lifecycle Solutions
  • China activity reflecting an unfavorable mix between Chinese customers
• SUSTAINED PROGRESS OF EFFICIENCY MEASURES
  • EU-FORWARD European competitiveness plan at full-speed
  • Launch of the global SIMPLIFY program to reduce indirect and structural costs
  • Maximum flexibility in production cost management
• SIGNIFICANT IMPROVEMENT IN DEBT PROFILE
  • 2026 maturities nearly repaid, with a balanced maturity profile from 2027 onward
• CONFIRMED FULL-YEAR 2025 GUIDANCE
  • Sales, operating margin, net cash flow, and leverage targets reiterated
    
    

Martin FISCHER, Chief Executive Officer of FORVIA, declared:

"In the third quarter, resilient sales and continued focus on performance kept FORVIA firmly on its trajectory, despite increased volatility in the customer mix.
Operational excellence remains a key priority - optimizing our cost base through the swift execution of the EU-Forward plan, the global rollout of our SIMPLIFY program, and enhanced flexibility in production costs.
In parallel, we are making steady progress on our transformation agenda: divestment processes are advancing in line with our targets. The organizational changes now being deployed are energizing our culture and strengthening agility and accountability across the company.
Looking ahead to year-end, and amid increasing uncertainty, we remain more mobilized and vigilant than ever on cost and cash discipline, and we confirm our full-year objectives."

STABLE ORGANIC SALES IN Q3

		Q3 2024	Organic	Currency	Q3 2025
Group sales (€M)		6,357	+2	-238	6,121
YoY change			0.0%	-3.7%	-3.7%
WW auto production* (in mio units)		21.6	+4.4%		22.6
Outperformance (bps)			-440
* Source: S&P Mobility October 2025

In the third quarter of 2025, consolidated sales reached €6.12 billion, with stable performance in organic terms, while a 3.7% negative currency effect (€238 million, mainly resulting from the euro's depreciation against the USD and the RMB) impacted reported figures.

Excluding tooling sales, which were exceptionally high in 2024, product sales increased by 1.1% on an organic basis.

Compared with global automotive production, FORVIA underperformed by 440 basis points, broken down as follows:

• Around 130 basis points attributable to an unfavorable geographic mix, as global automotive production - estimated at +4.4% in Q3 by S&P Mobility - was mainly driven by higher volumes in China (+9.8%),
• 110 basis points from tooling sales normalization,
• Around 200 basis points resulting from negative volume and mix effects.
  
  

SOLID GROWTH IN ELECTRONICS, CLEAN MOBILITY AND LIFECYCLE SOLUTIONS

In €m	Q3 2025	Q3 2024	Reported Change	Organic change
SEATING	1,834	2,099	-12.7%	-9.5%
ELECTRONICS	1,137	995	+14.3%	+18.6%
INTERIORS	1,093	1,156	-5.5%	-1.4%
LIGHTING	862	945	-8.8%	-6.4%
CLEAN MOBILITY	959	930	+3.1%	+8.7%
LIFECYCLE SOLUTIONS	237	232	+2.1%	+4.9%
GROUP	6,121	6,357	- 3.7 %	0.0%

Seating was affected by an unfavorable customer mix, particularly in China, where its main customers, BYD and Li Auto, recorded lower production levels. This was partly offset by solid momentum with Chery. Sales to European premium brands in Europe stood below prior-year levels.

Electronics built on its first-half momentum, posting double-digit growth across all major regions. Sales were notably driven by radars, battery management systems and IVI.

Interiors posted a slight decline in organic sales, entirely reflecting the normalization of tooling sales after an exceptionally high 2024, particularly in the United States. Excluding this effect, product sales recorded strong mid-single-digit organic growth, driven by North America and China.

Lighting was affected by softer activity in Europe and by the phase-out of high-volume programs in China, while showing slight growth in North America.

Clean Mobility recorded strong growth, benefiting from the electrification slowdown. Business accelerated sharply in North America, particularly with Ford and Stellantis, and grew close to double digits in Europe, supported by the take-over of an exhaust solutions activity from a major European OEM.

After five consecutive quarters of organic decline, Lifecycle Solutions returned to growth, mainly driven by commercial vehicle business (Agricultural and Truck).

MIXED PERFORMANCE BY REGION

In €m	Q3 2025	Q3 2024	Reported Change	Organic Change	Perf vs. auto prod (pts)
EMEA	2,771	2,842	-2,5 %	-1.8%	-2 pts
o/w Europe	2,694	2,760	-2,4 %	-1.8%	-3 pts
AMERICAS	1,746	1,757	-0.6%	+5.8%	+2 pts
o/w North America	1,542	1,551	-0.6%	+5.8%	+1 pt
ASIA	1,604	1,758	-8.8%	-2.7%	-9 pts
o/w China	1,200	1,380	-13,1%	-7.4%	-17 pts
o/w Rest of Asia	404	378	+6,9%	+14.4%	+13 pts
GROUP	6,121	6,357	-3.7%	0.0%	-4 pts

• EUROPE: Clean Mobility and Electronics up, Seating and Lighting down
  
  

In Europe, sales were down 1.8 % on an organic basis, representing an underperformance of 260 basis points. The decline was mainly attributable to the production shutdown at JLR in September and the market slowdown of premium brands.

• NORTH AMERICA: Outperformance driven by Clean Mobility and Electronics
  
  

Organic sales advanced by 5.8 % in Q3, representing an outperformance of 110 basis points thanks to robust growth with US and Japanese car makers.

• ASIA: China activity affected by an unfavorable evolution of the customer mix; ongoing strong momentum in the Rest of Asia
  
  

Organic sales were down 2.7% in Asia, with a contrasted situation between China (-7.4 %) and the Rest of Asia (+14.4 %).

Chinese production grew by 9.8 %, driven by local OEMs, but with a significant shift away from BYD and Li Auto, two of the Group's key customers in the country. This unfavorable customer mix evolution was only partially offset by the strong ramp-up with Chery. Building on this momentum, FORVIA recently signed an agreement with Chery to explore a broader partnership in support of the carmaker's international expansion.

In the Rest of Asia, FORVIA sustained the first-half trajectory, strengthening its presence with Asian OEMs.

CONTINUED FOCUS ON COSTS REDUCTION AND FINANCIAL DISCIPLINE

During the third quarter, FORVIA continued the deployment of its five-year EU-FORWARD initiative (2024-2028), aimed at restoring competitiveness in Europe.
Approximately 800 new job reductions were announced, bringing the total to 5,800 - nearly 60% of the program's target by the end of 2028.

Additionally, the Group initiated the global roll-out of its SIMPLIFY program designed to reduce by €110 million SG&A and production overhead costs by 2028.

More broadly, FORVIA maintained a strong focus on production cost flexibility, operational cost control, and cash prioritization.

NEW FINANCINGS ENHANCING GROUP FINANCIAL PROFILE

During the third quarter, FORVIA successfully tapped the debt markets with three issuances in euros, US dollars and via Schuldschein, raising a total of approximately
€1.3 billion.

The proceeds are being used to refinance short-term obligations, enabling the Group to extend the average maturity of its debt and strengthen its financial flexibility.

Since the start of 2025, €2.7 billion in new financing has been secured, significantly reshaping the Group's debt profile:

• 2026 maturities are almost fully repaid,
• 2027 maturities have been largely reduced,
• bank and bond maturities were smoothed through 2033, and funding sources further diversified.
  
  

2025 FULL-YEAR GUIDANCE CONFIRMED

Based on S&P Mobility's October estimates, global automotive production is expected to decline by 2.8% in the fourth quarter of 2025.
The Group monitors the further increasing uncertainty caused by fluctuations in production volumes and intensified strains across global supply and logistics chains, while consistently evaluating the evolving situation. It remains fully focused on execution and strong agility to preserve its performance.

Therefore, FORVIA confirms its 2025 objectives*:

• Sales between €26.3bn and €27.5bn, at constant exchange rates**
• Operating margin between 5.2% and 6.0% of sales
• Net Cash-flow =2024 level (i.e. €655M)
• Net debt/Adjusted EBITDA ratio =1.8x at December 31, 2025 on a organic basis***

Beyond this organic deleveraging target, the Group is committed to restore a solid balance sheet with the objective of reducing Net debt/Adjusted EBITDA ratio below 1.5x in 2026, supported by disposals.

*The guidance assumes tariffs already enacted to date and no major disruption materially impacting production or retail sales in any major automotive region during the year.
**2024 average exchange rates: EUR/USD = 1.08, EUR/CNY = 7.79.
***With no net contribution from asset disposals

• The Board of Directors, under the chairmanship of Michel de ROSEN, met on October 17 and reviewed the present press release.
• All financial terms used in this press release are explained at the end of this document, under the section "Definitions of terms used in this document".
• All figures related to worldwide or regional automotive production refer to the S&P Global Mobility forecast dated October 2025.
  
  

A webcast will be held today, Monday October 20, 2025, at 8:00am (Paris time).

FORVIA's Q3 2025 sales presentation will be available before the webcast on FORVIA's website: www.forvia.com

If you wish to follow the presentation using the webcast, please access the following link:
https://edge.media-server.com/mmc/p/u8yfeow5

A replay will be available as soon as possible.

You may also follow the presentation via conference call:
France:[phone]
United Kingdom:[phone]
United States:[phone]

Code: 9786432

AGENDA

• February 24, 2026: 2025 Full-year results (before market hours) and Capital Market Day
  
  

APPENDICES

FIRST-NINE MONTHS SALES BY BUSINESS GROUPS AND REGIONS

By Business Group

In €m	9M 2025	9M 2024	Reported Change	Organic change
SEATING	6,138	6,296	-2.5%	-0.7%
ELECTRONICS	3,423	3,086	+10.9%	+12.8%
INTERIORS	3,590	3,713	-3.3%	-0.4%
LIGHTING	2,711	2,914	-7.0%	-5.8%
CLEAN MOBILITY	3,002	3,121	-3.8%	-0.3%
LIFECYCLE SOLUTIONS	734	762	-3.6%	-0.7%
GROUP	19,598	19,892	-1.5%	+0.8%

By Region

In €m	9M 2025	9M 2024	Reported Change	Organic change	Perf vs. auto prod (pts)
EMEA	9,341	9,360	-0.2%	+0.6%	+2 pts
o/w Europe	9,115	9,113	0.0%	+0.8%	+3 pts
AMERICAS	5,245	5,443	-3.6%	+0.2%	+1 pt
o/w North America	4,658	4,834	-3.6%	-0.8%	+1 pt
ASIA	5,012	5,089	-1.5%	+1.7%	-6 pts
o/w China	3,763	3,946	-4.6%	-1.6%	-13 pts
o/w Rest of Asia	1,249	1,143	+9.3%	+13.1%	+11 pts
GROUP	19,598	19,892	-1.5%	+0.8%	-3 pts

PRESS	ANALYSTS/INVESTORS
Christophe MALBRANQUE Group Influence Director [phone] [e-mail]	Adeline MICKELER Head of Investor Relations [phone] [e-mail]
	Sébastien LEROY Deputy head of Investor Relations [phone] [e-mail]

About FORVIA, whose mission is: "We pioneer technology for mobility experiences that matter to people".

FORVIA, a global automotive technology supplier, comprises the complementary technology and industrial strengths of Faurecia and HELLA. With around 250 industrial sites and 78 R&D centers, over 150,000 people, including more than 15,000 R&D engineers across 40+ countries, FORVIA provides a unique and comprehensive approach to the automotive challenges of today and tomorrow. Composed of 6 business groups and a strong IP portfolio of over 13,000 patents, FORVIA is focused on becoming the preferred innovation and integration partner for OEMs worldwide. In 2024, the Group achieved a consolidated revenue of 27 billion euros. FORVIA SE is listed on the Euronext Paris market under the FRVIA mnemonic code and is a component of the CAC SBT 1.5° index. FORVIA aims to be a change maker committed to foreseeing and making the mobility transformation happen. www.forvia.com

DISCLAIMER

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 results or any other performance indicator. In some cases, you can identify these forward-looking statements by forward-looking words, such as "estimate," "expect," "anticipate," "project," "plan," "intend," "objective", "believe," "forecast," "foresee," "likely," "may," "should," "goal," "target," "might," "would,", "will", "could,", "predict," "continue," "convinced," and "confident," the negative or plural of these words and other comparable terminology. Forward looking statements in this document include, but are not limited to, financial projections and estimates and their underlying assumptions including, without limitation, assumptions regarding present and future business strategies (including the successful integration of HELLA within the FORVIA Group), expectations and statements regarding FORVIA's operation of its business, and the future operation, direction and success of FORVIA's business. Although FORVIA believes its expectations are based on reasonable assumptions, investors are cautioned that these forward-looking statements are subject to numerous various risks, whether known or unknown, and uncertainties and other factors, all of which may be beyond the control of FORVIA and could cause actual results to differ materially from those anticipated in these forward-looking statements. For a detailed description of these risks and uncertainties and other factors, please refer to public filings made with the Autorité des Marchés Financiers ("AMF"), press releases, presentations and, in particular, to those described in the chapter 2."Risk factors & Risk management" of FORVIA's 2024 Universal Registration Document filed by FORVIA with the AMF on March 7, 2025 under number D. 24-0080 (a version of which is available on www.forvia.com). Subject to regulatory requirements, FORVIA does not undertake to publicly update or revise any of these forward-looking statements whether as a result of new information, future events, or otherwise. Any information relating to past performance contained herein is not a guarantee of future performance. Nothing herein should be construed as an investment recommendation or as legal, tax, investment or accounting advice. The historical figures related to HELLA included in this presentation have been provided to FORVIA by HELLA within the context of the acquisition process. These historical figures have not been audited or subject to a limited review by the auditors of FORVIA. FORVIA HELLA remains a listed company. For more information on FORVIA HELLA, more information is available on www.hella.com. This presentation does not constitute and should not be construed as an offer to sell or a solicitation of an offer to buy FORVIA securities.

DEFINITIONS OF TERMS USED IN THIS DOCUMENT

Sales growth

FORVIA's year-on-year sales evolution is made of three components:

• A "Currency effect", calculated by applying average currency rates for the period to the sales of the prior year,
• A "Scope effect" (acquisition/divestment),
• And "Growth at constant currencies".
  
  

As "Scope effect", FORVIA presents all acquisitions/divestments, whose sales on an annual basis amount to more than €250 million.

Other acquisitions below this threshold are considered as "bolt-on acquisitions" and are included in "Growth at constant currencies".

Operating income

Operating income is the FORVIA group's principal performance indicator. It corresponds to net income of fully consolidated companies before:

• Amortization of intangible assets acquired in business combinations.
• Other non-recurring operating income and expense, corresponding to material, unusual and non-recurring items including reorganization expenses and early retirement costs, the impact of exceptional events such as the discontinuation of a business, the closure or sale of an industrial site, disposals of non-operating buildings, impairment losses recorded for property, plant and equipment or intangible assets, as well as other material and unusual losses.
• Income on loans, cash investments and marketable securities; Finance costs.
• Other financial income and expense, which include the impact of discounting the pension benefit obligation and the return on related plan assets, the ineffective portion of interest rate and currency hedges, changes in value of interest rate and currency instruments for which the hedging relationship does not satisfy the criteria set forth in relationship cannot be demonstrated under IFRS 9, and gains and losses on sales of shares in subsidiaries.
• Taxes.
  
  

Adjusted EBITDA

In compliance with the ESMA (European Securities and Markets Authority) regulation, the term "Adjusted EBITDA" has been used since January 1, 2022.

Net cash flow

Net cash flow is defined as follow: Net cash from (used in) operating and investing activities less (acquisitions)/disposal of equity interests and businesses (net of cash and cash equivalents), other changes and proceeds from disposal of financial assets, and new or extended leases. Repayment of IFRS 16 debt is not included.

Net financial debt

Net financial debt is defined as follow: Gross financial debt less cash and cash equivalents and derivatives classified under non-current and current assets. It includes the lease liabilities (IFRS 16 debt).