Delfingen: nine-month sales down by almost 7%.

(CercleFinance.com) - Delfingen loses nearly 4% after announcing sales of €324.
8 million to the end of September 2024, down 6.9% on the first nine months of 2023 (-7.8% on a like-for-like basis).

The Group points to the contraction in global automotive production, combined with a sluggish German market, a delay in the launch of certain electric platforms in the USA, and the end-of-life of certain projects inherited from the former Schlemmer.

Delfingen does not expect business to improve between now and the end of the year, in view of S&P Global Mobility's forecasts. However, it remains confident of achieving a recurring operating margin in excess of 5% in 2024.

'Fiscal 2024 and 2025 will remain difficult before a potential rebound in 2026, mainly thanks to the initiatives taken by the Group as part of its Impulse 2026 plan', believes Oddo BHF, which remains 'outperform' but has adjusted its target from €41 to €34.

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