OPmobility – Q3 2026 revenue

Paris,
October 21, 2026 at 7:00 am (CET)

Q3 2026 revenue

OPmobility continues its growth trajectory and transformation in Q3
despite a declining automotive market

Consolidated organic revenue up +2.8%
driven by all segments

Strategic acceleration in Lighting
with the announced acquisition of Hyundai Mobis’ lighting business

Strengthening the industrial footprint in Morocco
with the inauguration of a fourth plant

• Q3 2026 consolidated revenueb) of €2,437 million, up +3.2% and +2.8% LFLc) year-on-year, driven by all segments, Exterior & Lighting, Modules and Powertrain. Consolidated revenue for the first 9 months of 2026 was €7,639 million, representing a growth of +1.1% LFLc) on the same period in 2025.
• Q3 2026 economic revenuea) of €2,763 million, up +1.6% and stable LFLc) compared to Q3 2025, in a marketh) down by -1.9%. Joint ventures revenue contracted -19.0% LFLc), reflecting, in China, the decrease in automotive production and the sharp decline in vehicle sales in the domestic market.
• Agreement signed with Hyundai Mobis to acquire its lighting activity, accelerating OPmobility’s diversification and strengthening its position as a major player in automotive lighting. Closing of the acquisition is targeted for the second half of 2027.
• Inauguration of a fourth factory in Morocco to support increasing exterior parts production volumes for a major international manufacturer.

Outlook

• In a fast-changing market, OPmobility leverages its global presence through its 152 factories in 28 countries, its diversified technology portfolio in exterior and powertrain solutions, as well as its operational and commercial proximity with manufacturers. These assets support its resilience, performance, and ability to generate profitable and sustainable growth.
• To address a rapidly evolving automotive market, OPmobility is accelerating its transformation to adapt its operating model and sustainably reinforce its competitiveness. In addition, the Group prioritizes investment aimed at expanding production capacities, notably in North America and Asia to support growth in these regions.
• The recently signed agreement to acquire the lighting business of Hyundai Mobis should enable OPmobility to become a major player in lighting solutions, following the expected closing of the transaction in the second half of 2027.
• In the current environment, the Group adjusted its annual objectives at the beginning of October, to address market conditions impacted by volatile raw material and component prices, and revisions to the automotive production forecasts of several manufacturers. OPmobility confirms its target for 2026 of an operating margind) between €430 million and €450 million, a free cash flowe) above €220 million, a significant net result Group share, and an improvement in net debtf) compared with year-end 2025.

Félicie Burelle, Chief Executive Officer of OPmobility, stated:

"In a declining market, the growth posted by OPmobility in the third quarter demonstrates the strength of our international presence and the complementarity of our activities. In this environment, we are accelerating our transformation with a clear priority: strengthening our competitiveness and our ability to create sustainable value. The acquisition of Hyundai Mobis' lighting business is a major step in this strategy and will significantly accelerate our diversification and development in automotive lighting."

Q3 2026 activities

The figures presented below are based on the following segment reportingg) structure:
- Exterior & Lighting, which includes exterior systems and lighting activities;
- Modules, which comprises module design, development and assembly;
- Powertrain, which brings together C-Power (energy and emission reduction systems, and batteries and electrification systems) and H2-Power (hydrogen activity) business groups.

Consolidated revenueb) totaled €2,437 million in Q3 2026, up +3.2% and +2.8 LFLc), year-on-year.

• The currency effect for the period of +€19 million mainly concerns fluctuations in the US dollar.
• The scope effect in Q3 2026 is limited. On June 1, 2026, the YFPO joint venture extended its scope to include OPmobility’s and Yanfeng’s combined module assembly activities.

Group consolidated revenueb) grew +1.1% like-for like in the first 9 months of 2026 compared to the same period in 2025.

OPmobility economic revenuea) totaled €2,763 million in Q3 2026, up +1.6% and stable like-for-like, compared to Q3 2025.

Joint ventures revenue decreased by -19.0% like-for like in Q3 2026, linked to the sharp decline in automotive production and vehicle sales in China that impacted YFPO, the joint venture with Yanfeng, partially offset by the growth in SHB’s module assembly activity.

• Exterior & Lighting: economic revenuea) totaled €1,266 million in Q3 2026. The Exterior activity is in line with the market outside China, where the joint venture YFPO operates. This performance is mainly driven by Eastern Europe. Meanwhile, the Lighting activity continues its growth trajectory, driven by several starts of production since the beginning of the year, mainly in North America and Eastern Europe.
• Modules: economic revenuea) totaled €861 million, up +2.7% (+3.8% LFLc)) in Q3 2026 compared to Q3 2025. This growth is driven by the strong momentum of the SHB joint venture in South Korea, as well as activity growth in the United States.
• Powertrain: economic revenuea) totaled €636 million, up +1.5% (+0.5% LFLc)) year-on-year. C-Power continues to consolidate its leading position in fuel tank production. This performance was driven by strong fuel tank production in Asia excluding China and, to a lesser extent, in Europe in Q3 2026. In North and South America, C-Power maintained a high level of fuel systems production. Finally, the battery packs activity continued to ramp up, with sustained commercial momentum.

OPmobility posts a performance above the automotive marketh) in Q3 2026

In an environment still marked by geopolitical tensions and price pressures, particularly on raw materials, global automotive productionh) declined by -1.9% in Q3 2026.

In China, automotive production continues to slow, contracting -5.6% in Q3 2026, against a sharp declining domestic demand1 at -24%, partially offset by strong export growth. In addition, production decreased across all countries in North America, reflecting an uncertain trade environment linked to tariffs and declining demand. Finally, in Europe, weaker automotive demand is prompting manufacturers to continue adjusting their production levels, particularly in Western Europe.

• In Europe, economic revenuea) totaled €1,369 million, a sharp increase of +8.6% LFLc) on Q3 2025. This performance was mainly driven by higher activity in Eastern Europe, primarily in module assembly and exterior solutions production.

1 China Passenger Car Association.
2 Africa and South America.

• In North America economic revenuea) totaled €795 million, down -5.9% LFLc) on Q3 2025. In this region, the Group continues to grow in the United States, where its revenue increases +4.9% in a market down -4.8%, where the modules activity contributed to revenue growth supported by production volumes for an American manufacturer. Finally, the lighting activity benefited from launches in Mexico since the beginning of the year.
• In China, economic revenuea) decreased by -33.2% LFLc) in Q3 2026, in a market where automotive production is down by -5.6% and car sales3 down sharply by -24%. YFPO's sales of exterior parts are broadly in line with automotive production, and sales related to program development are correlated with the pace of launches by manufacturers. Meanwhile, the fuel systems production activity is operating in a market where sales of internal combustion vehicles are declining. Finally, the Group continues to increase its exposure to Chinese manufacturers in both domestic and export markets, while continuing to expand its presence in the fast-growing hybrid vehicle segment.
• In the rest of Asia, economic revenuea) rose sharply by +12.3% LFLc) year-on-year to €298 million in Q3 2026, outperforming automotive productionh) by +7.0 points. The Group continues to record strong growth in South Korea in module assembly and fuel tank production. In India, OPmobility continued its very strong growth in its two activities, exterior parts and fuel tanks production, with momentum above the automotive market. In this country, the Group will open a new fuel tank production plant in Kharkhoda before the end of 2026.

3 China Passenger Car Association.

Key strategic initiatives in Q3 2026

OPmobility is accelerating its geographical, technological and customer diversification, strengthening its long-term growth drivers.

OPmobility signs an agreement to acquire Hyundai Mobis' lighting activity

OPmobility recently signed an agreement with Hyundai Mobis to acquire 100% of its lighting activity for an enterprise value of 600 billion Korean won4. Hyundai Mobis’ lighting activity generated a revenue of 2,500 billion Korean won5 and positive operating margin in 2025. It operates five plants in South Korea, China, Mexico and Czech Republic, and has a portfolio of advanced technologies as well as expertise recognized by major international manufacturers. Almost half of its customer base is located in Asia.

This acquisition would significantly reinforce OPmobility’s Lighting activity and strengthen its competitiveness, and would be fully aligned with the Group’s diversification strategy. It would broaden its product portfolio, in particular with front-end lighting solutions. The Group would also expand its presence with Hyundai and Kia, part of the HMC Group, which would become one of OPmobility’s main customers. Finally, the transaction would allow OPmobility’s Lighting activity to extend its production capacity, increasing the number of plants worldwide from 9 to 14, including notably 3 new sites in Asia.

The integration of this activity is expected to sustainably enhance the performance of the Lighting activity and generate industrial, commercial and technological synergies. On a proforma basis, the acquisition is not expected to have a major impact on the Group’s deleveraging strategy. Closing of the acquisition is targeted for the second half of 2027, subject to obtaining customary antitrust and regulatory approvals.

4 Equivalent to about €390 million as of September 29, 2026
5 Equivalent to about €1.6 billion as of September 29, 2026

OPmobility strengthens its industrial capacities in Morocco

OPmobility has just inaugurated its fourth production plant in Morocco, reinforcing its long-term commitment to the country since 2013. The Group now operates four production sites in the country, two in Kenitra and two in Tangier. The Group offers local expertise in energy storage systems, lighting systems and exterior body parts, addressing several major automotive manufacturers.

Located in Kenitra, the new plant features state-of-the-art manufacturing, handling and storage technologies, and will produce exterior body parts for a major international customer.

This investment strengthens OPmobility’s industrial footprint in one of Morocco’s leading automotive hubs and reflects the Group’s determination to support its customers with local, competitive and high-quality manufacturing operations.

A record safety performance

Safety remains a priority for OPmobility, illustrated by the commitment of its teams. At the end of September 2026, the Group reported a FR26 performance of 0.41 vs. 0.44 at the end of September 2025, its lowest level on record and very close to its target of 0.40 by the end of 2026. These results confirm the Group’s long-term commitment to prevention and continuously raising safety standards at all its sites.

6 FR2: Accident frequency rate with and without lost time per million hours worked over a 12-month rolling period.

Group outlook

In a fast-changing market, OPmobility leverages its global presence through its 152 factories in 28 countries, its diversified technology portfolio in exterior and powertrain solutions, as well as its operational and commercial proximity with manufacturers. These assets support its resilience, performance, and ability to generate profitable and sustainable growth.

To address a rapidly evolving automotive market, OPmobility is accelerating its transformation to adapt its operating model and sustainably reinforce its competitiveness. In addition, the Group prioritizes investment aimed at expanding production capacities, notably in North America and Asia to support growth in these regions.

The recently signed agreement to acquire the lighting business of Hyundai Mobis should enable OPmobility to become a major player in lighting solutions, following the expected closing of the transaction in the second half of 2027.

In the current environment, the Group adjusted its annual objectives at the beginning of October, to address market conditions impacted by volatile raw material and component prices, and revisions to the automotive production forecasts of several manufacturers. OPmobility confirms its target for 2026 of an operating margind) between €430 million and €450 million, a free cash flowe) above €220 million, a significant net result Group share, and an improvement in net debtf) compared with year-end 2025.

Webcast of the Q3 2026 revenue presentation

OPmobility Q3 2026 revenue will be presented during a webcast conference on Wednesday, October 21, 2026 at 08:30 AM (CET).

To follow the webcast, please click on the following link:
https://opmobilityen.engagestream.euronext.com/q3_2026_revenue

This press release is published in English and French. In the event of any discrepancy between these versions, the original version written in French shall prevail.

The press release and the slideshow are available at www.opmobility.com

*****

About OPmobility

OPmobility is a world leader in sustainable mobility and a technology partner to mobility players worldwide. Driven by innovation since its creation in 1946, the Group is today composed of four complementary business groups that enable it to offer its customers a wide range of solutions: exterior and lighting systems, complex modules, energy storage systems and battery and hydrogen electrification solutions. OPmobility also offers its customers an activity dedicated to the development of software, OP’nSoft.

With economic revenue of 11.5 billion euros in 2025 and a global network of 152 plants and 40 R&D centers, OPmobility relies on its 38,100 employees to meet the challenges of sustainable mobility.

OPmobility is listed on Euronext Paris, compartment A. It is eligible for the Deferred Settlement Service (SRD) and is included in the SBF 120 and CAC Mid 60 indices (ISIN code: FR0000124570).
www.opmobility.com

Glossary

a) Economic revenue corresponds to consolidated revenue of the Group and the following joint ventures and associates consolidated at their percentage holding: BPO (50%) and YFPO (50%) for Exterior & Lighting, EKPO (40%) for Powertrain and SHB (50%) for Modules.

b) Consolidated revenue does not include the Group’s share of revenue from joint ventures, consolidated using the equity method, in accordance with IFRS 10-11-12.

c) Like-for-Like (LFL): at constant scope and exchange rates
    i. The currency effect is calculated by applying the exchange rate of the current period to the revenue of the previous period. In Q3 2026, it amounted to +€29 million for economic revenue and +€19 million for consolidated revenue.
    ii. On June 1, 2026, the YFPO joint venture extended its scope to include OPmobility’s and Yanfeng’s combined module assembly activities. The scope effect in Q3 2026 is at - €11 million on consolidated revenue and at +€24 million on economic revenue.

d) Operating margin includes the Group’s share of income from companies consolidated using the equity method and amortization of intangible assets acquired, before other operating income and expense.

e) Free cash flow corresponds to operating cash flow less expenditure on property, plant and equipment and intangible assets net of disposals, taxes and net interest paid, plus or minus the change in the working capital requirement (cash surplus from operating activities).

f) Net debt includes all long-term borrowings, short-term loans, and bank overdrafts less loans, marketable debt instruments and other non-current financial assets, and cash and cash equivalents.

g) Group segment reporting breaks down as follows:
    o Exterior & Lighting, which includes exterior systems and lighting activities;
    o Modules, which comprises module design, development and assembly activities;
    o Powertrain, which brings together the C-Power (energy and emission reduction systems, and batteries and electrification systems) and H 2-Power (hydrogen activity) business groups.

h) Global or regional automotive production data refer to the Mobility Global forecasts published in October 2026 (<3.5-ton passenger car segment and commercial light vehicles).

Disclaimer

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