Overview

• The company issued a profit warning for 2025 and now guides an Automotive EBIT margin of 5% to 6%.
• Automotive RoCE is lowered to 8% to 10%, with group earnings before tax expected to decline slightly versus last year.
• Automotive free cash flow is now forecast to be above €2.5 billion in 2025, down from prior guidance of above €5 billion.
• Customs duty reimbursements described as a high three-digit million euro sum are now anticipated to be received in 2026.
• China sales matched last year in Q3 but are expected to weaken in Q4, while Europe and the Americas show year-to-date gains and shareholder returns remain in place ahead of a fuller update on Nov. 5.