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Q1 2024 sales outperformance of 390bps to reach €6.531bn Robust order intake of €6.5bn, up €1bn vs. Q1 2023

Following FORVIA HELLA’s announcement, on April 2, of the closing of the sale of its 50% stake in BHTC to AUO Corporation, representing €205 million of cash proceeds, FORVIA today makes further progress in the execution of its second €1 billion asset disposal program by announcing an agreement to transfer its 100%-owned subsidiary Hug Engineering to the Belgian OGEPAR Group for an enterprise value of c. €55 million. Hug Engineering is a major player in depollution systems for high horsepower engines, currently part of FORVIA’s Clean Mobility business group.

On April 11, 2024, in Hefei (China), FORVIA, the world’s seventh-largest automotive technology supplier, announced that it has signed a Joint Venture Agreement with CHERY, a leading Chinese automaker, to deepen mutual cooperation in the field of smart and sustainable cockpit.

MATERI’ACT, the sustainable materials subsidiary of the automotive supplier FORVIA, presents a concept car integrating instrument and door panels made with Ocean Bound Plastics (OBP). The pioneering concept car was exhibited for the first time during the FORVIA Sustainability Day in Paris at the end of March 2024.

At its second Sustainability Day, held in Paris (France) on March 21st, 2024, FORVIA detailed its roadmap to carbon neutrality and its technological solutions for sustainable mobility. In a transparent approach to its stakeholders, the Group presented for the first time its objectives for the entire lifecycle of its products, the scope 3.

This integrated report aims to give all stakeholders a better understanding of the company’s vision and strategy for profitable growth. FORVIA’s business model is focused on creating value for all its stakeholders, ensuring both financial and non-financial performance over the short and long term.

FORVIA, France’s first and the world’s seventh-largest automotive technology supplier has entered into two services contracts with Schneider Electric to fully electrify two FORVIA R&D centers in Bavans and Seloncourt, France, by mid-2024. Using an innovative Electrification-as-a-Service (EaaS) model backed by a best-in-class energy performance FORVIA will eliminate 85% of Bavans’ scope 1 greenhouse gas (GHG) emissions and 100% of Seloncourt scope 1 GHG emissions with no upfront CapEx investment.