Aumovio (AMV0) investor relations material

Executive summary

• Q1 2026 adjusted sales declined 7.8% year-over-year to €4.4 billion, mainly due to FX headwinds and lower volumes/pricing in a challenging market, but profitability and cash generation improved with margin expansion driven by transformation measures and cost discipline.

• Adjusted EBIT rose 14.3% year-over-year to €169 million, reflecting efficiency gains, cost optimizations, and improved product mix.

• Major strategic order wins in digital vehicle access, OLED display solutions, and technology partnerships, with continued progress in operational footprint reduction.

• Net income loss reduced to €-157 million from €-217 million year-over-year.

Financial highlights

• Adjusted EBIT margin improved to 2.4% from 1.9% in Q1 2025, with gross margin rising to 19.9%.

• Normalized free cash flow increased 35.2% year-over-year to €147 million, driven by CapEx discipline and working capital efficiencies.

• Net cash position increased to €1.43 billion at March 2026, with net pension liabilities declining to €998 million.

• Capex/sales ratio at 2.2% in Q1 2026, reflecting disciplined capital expenditure.

• Reported EBIT loss narrowed to €-79 million from €-147 million year-over-year.

Outlook and guidance

• 2026 outlook confirmed: adjusted sales €17.0–18.5 billion, adjusted EBIT margin 3.5–5.0%, normalized free cash flow €500–800 million.

• CapEx to remain below 5% of sales; ongoing price pressure and supply chain volatility may limit further working capital improvements.

• Net income and EPS expected to improve significantly versus prior year, assuming lower special items and improved tax rate.

• External environment remains uncertain due to geopolitical risks, supply chain disruptions, and revised global light vehicle production forecasts.

• Seasonal pattern expected: Q1 is typically the weakest quarter for margin, with improvement anticipated through the year.