PRESS RELEASE


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
o Reported sales down 3.7% due to a negative currency impact of €238m (-3.7%),
o Organic growth of 1.1% in product sales
o Solid growth in Electronics, Clean Mobility and Lifecycle Solutions
o China activity reflecting an unfavorable mix between Chinese customers

• SUSTAINED PROGRESS OF EFFICIENCY MEASURES
o EU-FORWARD European competitiveness plan at full-speed
o Launch of the global SIMPLIFY program to reduce indirect and structural costs
o Maximum flexibility in production cost management

• SIGNIFICANT IMPROVEMENT IN DEBT PROFILE
o 2026 maturities nearly repaid, with a balanced maturity profile from 2027 onward

• CONFIRMED FULL-YEAR 2025 GUIDANCE
o 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.”




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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:

o 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%),
o 110 basis points from tooling sales normalization,
o Around 200 basis points resulting from negative volume and mix effects.


SOLID GROWTH IN ELECTRONICS, CLEAN MOBILITY AND LIFECYCLE
SOLUTIONS

Reported Organic
Q3 2025 Q3 2024
In €m Change 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.

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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

Perf vs.
Reported Organic
Q3 2025 Q3 2024 auto prod
Change Change
In €m (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
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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:

o 2026 maturities are almost fully repaid,
o 2027 maturities have been largely reduced,
o 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.




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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: +33 1 70 91 87 04
United Kingdom: +44 1 212 818 004
United States: +1 718 705 8796

Code: 9786432




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



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APPENDICES
FIRST-NINE MONTHS SALES BY BUSINESS GROUPS AND REGIONS
By Business Group

Reported Organic
9M 2025 9M 2024
In €m Change 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

Perf vs.
Reported Organic
9M 2025 9M 2024 auto prod
Change change
In €m (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 Adeline MICKELER
Group Influence Director Head of Investor Relations
+33 (0) 6 21 96 23 53 +33 (0) 1 72 36 75 70
christophe.malbranque@forvia.com adeline.mickeler@forvia.com

Sébastien LEROY
Deputy head of Investor Relations
+33 (0) 1 72 36 78 74
sebastien.leroy@forvia.com


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




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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.




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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).




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