2024年全年业绩表现报告「巴黎泛欧交易所」

FEBRUARY19, 2024 012023HIGHLIGHTS 02FY 2023RESULTS REVIEW Agenda 032024ONWARDS 04FY2024 GUIDANCE ANDPOWER25 AMBITION 2023HIGHLIGHTS Patrick Koller, CEO 2023 IN THREE KEY FIGURES NET DEBTREDUCED BY CLOSE TO€1bnStrong NCF of €649mCompletion of thefirst€1bndisposal programNet debt/Adj. EBITDA ratio of 2.1ximproved by 100bps vs June 2022 OPERATING MARGINIMPROVED BY100bpsTo 5.3% of salesvs. 4.3% in 2022 ORGANIC SALESGROWTH OF14%Outperforming by 430bpsLVP growth (+9.7%) ALL 2023 GUIDANCE TARGETS METON TRACK WITHPOWER25PRIORITIES & TARGETS BUILDING SUSTAINABLE GROWTH MOMENTUM Strong and selective order intake of€31 billionin 2023 PROFITABILITY CONSISTENT WITHPOWER25TARGETSWITH REDUCED UPFRONT COSTS NUMEROUS CARS LAUNCHED IN 2023 Selected examples with FORVIA content in Europe & Americas NUMEROUS CARS LAUNCHED IN 2023 Selected examples with FORVIA content in Asia SYNERGIESAHEADOF ROADMAP 2025 Objective revised upwards from >€300m to >€350m SUCCESSFULL LAUNCH OF THE FORVIA EXCELLENCE SYSTEM to deliver best-in-class industrial performance ❯A 360°lean manufacturing approach DIGITALIZATION ▪combining the best industrial practices and processes of HELLA andFaurecia▪building on digital tools to develop state-of-the-art industrial assets▪embedding FORVIA’s sustainability roadmap >90Digital Model Plantsunder deployment across FORVIA+30in 20245Lighthouse plants1by main Product Lineby 2025 Our foundation to Roll-out sincemid-2023,implementation in allFORVIA sitesby 2025 ▪ensure a safe working environment▪deliver total customer satisfaction▪achieve POWER25 objectives▪reach our Scope 1 & 2 carbon neutralitytargets SPEEDING UP INHYDROGENACTIVITIES InaugurationofAllenjoiehydrogen plant (France)100,000tanks by year by 2030 Inauguration of SYMBIO’s gigafactorySymphon’hy(France)50,000fuel cells systems by year by 2026 Stellantisentry inSymbio North AmericaSeveral awards for H2 storage systems,including 2 contracts in SCALING UP IN LOW-CARBON MATERIALS AI-powered grades development and first auto businesses awarded in 2023 FEEDSTOCKS & PRODUCTS MASTERING THE VALUE CHAINFROM FORMULATION TO PRODUCTION CUSTOMERS 3product lines 12automotive programsalready awarded€2bnsalesby 2030 World-class R&D centerinaugurated in Lyon, France▪In-house lab & pilot workshop▪Hosting start-ups Strategic collaborations:APMjoint venture, Veolia, AnanasAnam 400+ material formulationstestedwith Artificial Intelligence Joint venture with PCR inNorth Americafor recycled-based compounds production SBTI-APPROVED NET-ZERO TARGETSFORVIA, a pioneer among the automotive players 1 year aheadScopes 1 & 2: 2023 NET-ZERO in2045 Energy savings-26%in 2023 vs 2019 2 intermediary stepsCarbon Neutral FORVIA renewable(solar+wind)120GWhin 2023 -45% Up to700GWhcapacityin 2024 2023RESULTSREVIEW Olivier Durand, CFO PROGRESS ON ALL KEY FINANCIAL METRICS IN 2023 SALES OF €27.2 BILLION, UP 14% ON AN ORGANIC BASIS Outperformanceof 430bps Reportedsalesgrowthof +10.9% Organicgrowthof 14%withallBusiness Groups in the double digits Significantadversecurrencyimpactof-5.2%essentiallyrelatedto CNY,ARS, TRY and USD Outperformanceof 430 bps ▪c. 250 bpsfromvolumes/mix▪c. 100bpsfromfavorablegeographicmix▪c. 80 bpsfrominflationpass-through OPERATING MARGIN UP 100bpsYEAR ON YEAR Mainly through volume/mix and synergies IMPROVED PERFORMANCE BUT MARGIN BELOW POTENTIAL 31% of Group consolidated sales in the period Strongoutperformancein Chinadrivenby Li Auto, BYD,US EV Car maker and BMW c.14%organicgrowthin Europesupportedby BMW, VW and Daimler +110bpsmarginexpansionwasdrivenby:▪astrongimprovementin North America(Highland Park)▪anaccretiveimpactfromrobustgrowthin ChinaAndpenalizedby:▪inflationheadwindsin JIToperations▪structuralovercapacitiesin Europe PROFITABILITY PENALIZED BYEUROPEAN OPERATIONS 18% of Group consolidated sales in the period Double digit growth mainly driven byEurope(Ford, RNM and JLR)and China(Chang’anand Li Auto) Operatingmarginwasstableyoy:operatingleveragegainwasoffset bydilutive impactfrominflationpass-through,currencies, and structuralovercapacitiesin Europe ROBUST RESULTS, INVESTMENT IN ZERO EMISSION 18% of Group consolidated sales in the period Balanced growthaccrossallregionsdriven by VW,Stellantisand Ford +80 bps net margin expansion:positive volume/mix evolutionpartly offset by investments in zeroemission SOLIDOUTPERFORMANCE AND MARGIN EXPANSION 15% of Group consolidated sales in the period Robust growth in Europe(especiallywithVW), in North America(notably with Nissanand GM)and in Japan(Japanese OEMs) +130 bps margin expansiondriven bycontinuous improvement at HELLAElectronics and turnaround of ClarionElectronics in H2, back tooperational profit on a full-year basis TRACKING AHEAD OF POWER25 AMBITION 14% of Group consolidated sales in the period More than 20% organic growth inNorth America(driven by a US EV carmaker)and China(BMW, Li Auto and aUS EV car maker) +160 bps margin expansiont