By Mathias de Rozario
April 21 (Reuters) – Car parts supplier OPmobility reported a 0.4% fall in first-quarter revenue, excluding currency effects, on Tuesday, as weakness in the automotive industry took its toll.
The French group said its revenue was 2.83 billion euros ($3.34 billion) in the first three months of 2026, compared with 2.98 billion euros a year ago.
It, however, outperformed the 3.4% decline of global automotive production, according to S&P Global Mobility forecasts published this month.
OPmobility’s shares fell 1.6% in early trading on the Paris Stock Exchange.
The revenue decline was driven by a fall in Europe, where it underperformed the region’s automotive production.
“It’s essentially linked to the climate, a bit of uncertainty, and to the delay of some programs that were supposed to start,” OPmobility CEO Félicie Burelle said.
Burelle expects the trend to continue, adding this was mainly focused on the exteriors business that designs bumpers and tailgates.
She expects the company’s lighting business to benefit from first launches resulting from the order book build-up since its acquisition at the end of 2022.
In North America and Asia, OPmobility said it outperformed the local market’s production as it sought to expand to offset prolonged weaknesses in Europe.
“My personal belief is that the European market will never return to those previous levels,” Burelle said.
OPmobility said it expected to complete the potential acquisition of a controlling stake in Hyundai Mobis’ lighting business by the end of 2026.
It also aims to finalise the expansion of its Chinese joint venture YFPO into module assembly and decorative lighting during the second quarter of the year.
OPmobility said there was no impact from the Iran war during the quarter and confirmed its full-year forecasts.
“Even in the face of further market weakness, OPmobility should do well by capitalizing on a robust three-year order intake,” J.P. Morgan said in a note to investors.
($1 = 0.8483 euro)
(Reporting by Mathias de Rozario in Gdansk; Editing by Alexander Smith and Milla Nissi-Prussak)
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