OPmobility’s revenue totalled €11,647m in 2024, up 2.2 per cent, and 2.8 per cent like-for-like, compared to 2023, mainly driven by their modules and exterior activities. This growth is mostly due to the transformation into revenue of the high order intake recorded in recent years by the exterior systems activity, as well as the first full-year effect of the modules plant in Austin, Texas. The YFPO joint ventures, which mainly manufacture exterior parts in China, reported like-for-like growth of 10.3 per cent in 2024.
- For exterior and lighting, revenue decreased by 1.2 per cent like-for-like versus 2023. In this segment, exterior systems revenue benefits from the high order book recorded in recent years. Lighting revenue decreased in 2024 year-on-year due to a weak order book prior to acquisition by OPmobility. In a highly competitive environment, the lighting business maintains strong commercial momentum, recording nearly €3bn in orders in just two years and securing its growth prospects from 2026.
- In Europe, revenue totalled €5,832m—stable on 2023. In this region, where automotive production decreased by 4.9 per cent, mainly due to a 5.9-per-cent drop in BEV sales compared to 2023, the group continue to outperform automotive production by 4.9 points. This performance was supported mainly by the exterior systems activity, as well as by the modules activity, which continues to benefit from the ramp-up of the Slovakia and Czechia sites.
- In North America, revenue totalled €3,395m and represented 29 per cent of 2024 group revenue, up 1.5 points on 2023, in line with the group’s growing presence in Africa and South America. Revenue increased by 7.8 per cent YoY and LFL in North America, outperforming the market by 10.4 points. This strong growth was mainly driven by the modules plant in Austin, Texas and by the exterior business, with notably the Cadillac Lyric, Volkswagen Atlas and Chevrolet Equinox programs. In 2024, C-Power recorded fuel tank and depollution system production volumes in this region similar to 2023.
- In China, where 8 per cent of sales are generated, the group recorded revenue of €941m in 2024, a decrease in a market growing 4.6 per cent, driven by strong demand for new energy vehicles. Increased electric vehicle production, mainly by local companies, continues to impact C-Power, which is developing in the hybrid vehicle segment. At the same time, the exterior systems business through YFPO, the joint venture with Yanfeng, recorded revenue growth in 2024.
- In Asia excluding China, where OPmobility generate another 8 per cent of their sales, revenue totalled €988m in 2024, up 8.9 per cent (12.9 per cent LFL) year-on-year and 17.4 points higher than automotive production. The Modules business group continues to grow through the SHB joint venture in South Korea, the main country contributing to revenue in this region. Finally, the C-Power and Exterior businesses continue to grow in India, the group’s growth driver.
2024 operating margin totalled €440m, compared to €395m in 2023, with an operating margin of 4.2 per cent of group revenue, up 0.4 points.
The exterior & lighting operating margin totalled €251m in 2024, representing 5.3 per cent of revenue, up 0.3 points over 2023 mainly due to a significant improvement in the exterior systems business operating margin.
