The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Christoph Laskawi - Deutsche Bank - Analyst
: Good morning. Thank you for taking my question. The first one will be just, could you comment please on if you saw any pre-production by the
OEMs in either Europe or the US ahead of the tariffs? And following on that, is the activity level that you see into Q2 basically confirming the run
rate that you had in Q1 or is it slowing down and the volatility is increasing?
And then if you could comment on potentially just the cash flow that you would expect for H1 if you can come in already or it might be too early
considering the working capital moves? And then just one confirmation question, based on your guidance, so the tariffs that should come through
on May 3, are they fully reflected in the guidance or is that not yet and there will be an update on those to come? Thank you.
Question: Stephen Benhamou - BNP Paribas - Analyst
: Yes, good morning. Thanks for taking my question. I have three questions. The first one is about cost savings. So it seems that you've accelerated
your efficiency program. Can you please give us more color on what we should expect in terms of additional cost savings this year as compared
to what you have initially planned? I'm not sure to have well understood what, Martin said about the EUR300 million of savings.
The second question is about China. Is the objective of above 300 bps of our performance in 2025 still achievable? And how confident are you to
mitigate the decline of legacy OEMs in the country with a greater exposure to local OEMs? And the last question is about the guidance.
So you confirmed that the guidance despite the lower GLVP assumptions. Does it mean that the lower end of the guidance is no more realistic or
you're still comfortable with the full range of the guidance? Thank you.
Question: Stephen Benhamou - BNP Paribas - Analyst
: Thank you so much. So you said EUR120 million to EUR150 million of cost savings this year, right?
Olivier Durand - Forvia SE - Executive Vice President, Group Chief Financial Officer, Member of the Executive Committee
From you forward plus the additional measures that not been mentioned. So in fact the total will be fairly higher than this in terms of --
Question: Charles Henry - - Analyst
: Hi, good morning. I didn't see any disclosure of order intake in the release. So if you wouldn't mind, please, giving us some clues on that.
Question: Ross McDonald - Citi - Analyst
: Yes, morning. Thank you for taking my questions. I have three questions, please. Firstly, Olivier, thank you for providing that color on the first half
free cash flow sequencing. Would you be able to confirm if you expect first half operating margins to be within the guidance range also?
And then secondly, on Europe, obviously very strong outperformance in Europe, and I see S&P yesterday taking very limited cuts to the European
market, I think just 12,000 units for the full year. Could you maybe talk a little bit about what you're seeing in the European market, maybe give
some color on the programs within seating and electronics that are supporting that very strong growth.
And then finally just noting the performance of life cycle solutions and clean mobility in the first quarter, given the margin profile of those businesses,
could you maybe talk a little bit about expectations moving forward for those businesses? I know some of that's linked to commercial vehicles.
Any green shoots in those segments would be of interest. Thank you.
Question: Ross McDonald - Citi - Analyst
: That's very clear. Thank you very much. Maybe one more question if I can squeeze that in. Martin, you mentioned in your opening remarks that
some of the tariff mitigations. One of those was obviously reducing CapEx.
Could you maybe talk around how much open road you have to trim CapEx over the medium term and what regions you're making those big
CapEx cuts given, obviously there's potentially some need to increase CapEx if tariffs do come at the more hawkish end? Thank you.
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