April 21 - OPmobility, the automotive parts supplier, said first-quarter revenue fell 0.4% on a like-for-like basis as the wider auto sector cooled. The company recorded 2.83 billion euros in revenue in the first quarter of 2026, down from 2.98 billion euros in the same period last year.
The revenue reduction contrasted with the broader industry trend, where global automotive production was reported to have declined by 3.4% over the same period according to S&P Global Mobility forecasts published this month. OPmobility said its performance did better than that global production metric overall, but that the decline in sales was concentrated in Europe, where the group underperformed local automotive production.
Management attributed the European shortfall to a combination of factors. "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 added that the company expects a lower number of launches in the quarter compared with last year, and that these reduced starts are primarily affecting its exteriors division, which is responsible for components such as bumpers and tailgates.
At the same time, OPmobility said it outperformed production in North America and Asia as it pushed to grow in those regions to help offset the extended weakness in Europe. Reflecting management's longer-term view, Burelle said: "My personal belief is that the European market will never return to those previous levels."
Looking ahead, the group expects some recovery tied to recent order book growth and strategic moves. OPmobility said it anticipates its lighting business - which has also seen delays - will begin to benefit in the second quarter from initial launches resulting from the order intake since its acquisition at the end of 2022.
On the corporate development front, OPmobility said it expects to complete a possible acquisition of a controlling stake in Hyundai Mobis' lighting business by the end of 2026. The company also intends to finalise during the second quarter the expansion of its Chinese joint venture YFPO into module assembly and decorative lighting.
The group reported no impact from the Iran war during the quarter and reiterated its full-year forecasts.
Currency reference: ($1 = 0.8483 euro)