OPmobility (OPM) H1 2025 earnings summary

Executive summary

• Achieved solid H1 2025 results with economic revenue of €5,960 million, up 0.4% (+1.6% LFL) year-over-year, despite volatile market conditions and regional declines in automotive production.

• Operating margin increased by 11.1% to €260 million (4.9% of revenue), driven by cost reduction and operational synergies.

• Free cash flow grew 5% to €165 million, and net debt was reduced by €118 million to €1,459 million, with leverage at 1.5x EBITDA.

• Net result Group share declined to €90 million, mainly due to higher non-recurring restructuring and transformation costs.

• Maintained strong liquidity of €2.3 billion and confirmed 2025 outlook for further improvements in margin, net result, and cash flow.

Financial highlights

• Economic revenue: €5,960 million (+0.4% reported, +1.6% LFL); consolidated revenue: €5,332 million (-1.5% reported, -0.6% LFL) year-over-year.

• Operating margin: €260 million (4.9% of revenue), up €26 million (+11.1%) year-over-year.

• EBITDA: €516 million (9.7% of revenue), up from €471 million (8.7%) in H1 2024.

• Free cash flow: €165 million (3.1% of revenue), up 5% year-over-year.

• Net debt: €1,459 million; leverage: 1.5x EBITDA; gearing: 71% (down from 76% at end-2024).

Outlook and guidance

• 2025 outlook confirmed: operating margin, net result, and free cash flow expected above 2024 levels, with continued net debt reduction.

• S&P forecasts a 2.3% global automotive production decline in H2 2025, with all regions expected to see lower volumes.

• Ongoing cost-saving measures and investment discipline to address market volatility and limited production visibility.