By Rachel More
BERLIN -German car parts supplier Aumovio reported on Friday a 30% slump in its adjusted operating profit in the third quarter, in its first earnings report following the company’s spin-off from tyre maker Continental.
The 150-million-euro ($174.93 million) result beat the 142 million euros forecast by analysts in a poll provided by the company.
Sales were down 6.4% at 4.5 billion euros, slightly below forecast.
“The first nine months as well as our third quarter have proven our strength as an independent company,” CEO Philipp von Hirschheydt said in a statement.
The company now expects full-year sales of between 18 billion and 19 billion euros, narrowing its previously guided range of 18 billion to 20 billion euros.
It confirmed its outlook for a 2025 adjusted operating profit margin at the upper end of a range of 2.5% to 4%.
($1 = 0.8575 euros)
(Reporting by Bernadette Hogg and Rachel More, Editing by Miranda Murray)
