A hydrogen storage system manufactured by OPmobility is pictured at the Hyvolution exhibition in Paris, France, January 28, 2025. REUTERS
April 21 (Reuters) – Car parts supplier OPmobility reported a 0.4% fall in first-quarter revenue, excluding currency effects, on Tuesday, as weakness in the automotive industry took its toll.
The French group said its revenue was 2.83 billion euros ($3.34 billion) in the first three months of 2026, compared with 2.98 billion euros a year ago.
OPmobility outperformed global automotive production, which recorded a 3.4% decline over the period, according to the S&P Global Mobility forecasts published this month.
The decline in revenue was driven by a fall in Europe, underperforming the region’s automotive production.
“It’s essentially linked to the climate, a bit of uncertainty, and to the delay of some programs that were supposed to start,” OPmobility CEO Félicie Burelle said.
Burelle expects fewer launches in the quarter than last year to continue, adding that this was mainly focused on its exteriors business, designing bumpers and tailgates.
In the second quarter, the group sees its lighting business, which has also seen some delays, beginning to benefit from the first launches resulting from the order book build-up since its acquisition at the end of 2022.
In North America and Asia, OPmobility said it outperformed the local market’s production as it sought to expand to offset prolonged weaknesses in Europe.
“My personal belief is that the European market will never return to those previous levels,” Burelle said.
OPmobility said it expects to complete the potential acquisition of a controlling stake in Hyundai Mobis’ lighting business by the end of 2026.
It also aims to finalise the expansion of its Chinese joint venture YFPO into module assembly and decorative lighting during the second quarter of the year.
OPmobility said there was no impact from the Iran war during the quarter and confirmed its full-year forecasts.
($1 = 0.8483 euro)
Reporting by Mathias de Rozario in Gdansk; Editing by Alexander Smith
