OPmobility (OPM) H1 2026 earnings summary

Executive summary

• Delivered resilient financial results in H1 2026, with consolidated revenue at €5,202 million, up 0.2% like-for-like despite a challenging global automotive market and currency headwinds.

• Operating margin remained stable at €251 million (4.8% of revenue), supported by core businesses, cost containment, and strategic diversification.

• Net result Group share increased to €102 million, up €12 million year-over-year, driven by improved financial results and lower non-current items.

• Strong free cash flow of €167 million enabled continuous net debt reduction and supported investments for future growth.

• Strategic expansion and diversification in North America and Asia, with robust performance in these regions, offsetting weakness in China and Europe.

Financial highlights

• Consolidated revenue: €5,202 million, down 2.4% reported but up 0.2% like-for-like year-over-year.

• Operating margin: €251 million, stable at 4.8% of revenue.

• Net result Group share: €102 million, up €12 million from H1 2025.

• Adjusted EBITDA: €488 million (9.4% of revenue), down from €516 million in H1 2025.

• Free cash flow: €167 million (3.2% of revenue), maintaining a strong trend.

• Net debt: €1,319 million at June 30, 2026, with leverage at 1.4x EBITDA and gearing at 59%.

• Dividend of €0.49 per share paid, totaling €70 million.

Outlook and guidance

• The group aims to improve operating margin, net result, free cash flow, and net debt in 2026 compared to 2025, confirming 2026 targets despite ongoing market and geopolitical uncertainties.

• Guidance to exceed last year's free cash flow of €297 million, with a more balanced H2 expected.

• Acquisition of Hyundai Mobis' lighting activity progressing, with completion expected by end of 2026.

• No major refinancing needs until 2029; strong liquidity position of €2.5 billion maintained.

• Closely monitoring geopolitical risks, especially in the Middle East, but current impact on production is limited.