Aumovio (AMV0) Pre-close call summary

Executive summary

• Q3 sales expected to mark the year's trough, followed by acceleration in Q4; H2 expected to be stronger than H1, with FY outlook unchanged.

• Q3 adjusted EBIT margin expected near 3%, at the lower end of the 3%–4% range; Q4 margin expected to improve as customer compensations are recognized.

Trading performance and revenue trends

• Global light vehicle production fell 2.3% YoY in Q3; Europe was broadly stable, North America declined 3.8%, and China declined 5.5%.

• Q3 top-line development was softer; order intake was slightly better than recent trends, while FX remained a headwind at a lower level than in H1.

Profitability and margins

• Q3 margin pressure mainly reflected higher raw-material and memory-chip costs, with related customer compensation not yet fully recognized; management described this as a timing effect.

• Larger customer recoveries are expected in Q4; associated cost increases were already reflected in H1 and Q3 earnings.

• Operational improvements, restructuring execution, and expected savings are supporting profitability; Q4 margin profile is expected to improve versus prior quarters.