2026 Half-year results - Press Release

Paris,
July 22, 2026 at 7:00 am (CET)

2026 half-year results

Revenue up slightly, excluding currency effects, driven by North America and Asia

Operating margin of €251 million, stable at 4.8% of revenue

Free cash flow of €167 million and continuous deleveraging

Confirmation of 2026 objectives and monitoring of the situation in the Middle East

• H1 2026 consolidated revenue^b of €5,202 million, down -2.4% and posting slight organic growth^c of +0.2% year-on-year. The Group benefited from higher sales in the C-Power business group and the recovery of the lighting activity.
• H1 2026 economic revenue^a of €5,822million, down -2.3% and posting slight organic growth^c of +0.4% year-on-year, in a market down -1.0%^j. Joint ventures continue to deliver organic^c growth of +1.7%.

• H1 2026 consolidated revenue^b of €5,202 million, down -2.4% and posting slight organic growth^c of +0.2% year-on-year. The Group benefited from higher sales in the C-Power business group and the recovery of the lighting activity.

• H1 2026 economic revenue^a of €5,822million, down -2.3% and posting slight organic growth^c of +0.4% year-on-year, in a market down -1.0%^j. Joint ventures continue to deliver organic^c growth of +1.7%.

• Operating margin^dof €251 million in H1 2026, driven by the good performance of core activities. The operating margin includes higher raw material prices from the second quarter, tied to the situation in the Middle East. Measures implemented by the Group helped contain cost increases from H1 2026. The operating margin rate is therefore 4.8% of revenue, stable year-on-year.

• Net result Group share of €102 million in H1 2026, up +€12 million on H1 2025. Non-current items were lower in H1 2026 compared to the same period in 2025. In addition, the net financial result also improved year-on-year in the first half of 2026.

• Free cash flow^g of €167 million in H1 2026. OPmobility invested 4.9% of its revenues in H1 2026 to support its upcoming growth, supported by the robust order intake recorded in recent years.

• With net debt^h of €1,319 million at June 30, 2026, a reduction of -€90 million on December 31, 2025, the Group continues to reduce its debt, with leverage of 1.4x EBITDA at June 30, 2026, stable on December 31, 2025, and gearing of 59%.

• Acceleration of the Group's diversification strategy, particularly in the United States and Asia. OPmobility is strengthening its presence in the United States with the construction of its first plant in the Midwest, in Toledo, Ohio, dedicated to exterior solutions, with production scheduled to launch in the second half of 2027. Furthermore, the Group secured its first major order for the supply of battery packs in North America. Finally, since June 1, 2026, the YFPO joint venture offers in China, in addition to exterior systems, signature and decorative lighting solutions and module activities, strengthening its global positioning with Chinese manufacturers.

Outlook

• In a complex environment and a challenging market, the Group’s H1 2026 performance demonstrates the relevance of its technological and geographical diversification strategy and its operational proximity to customers.
• OPmobility is closely monitoring the situation in the Middle East and the potential consequences for the automotive market. The impact on production volumes is relatively limited for the Group at this stage.
• At the same time, OPmobility’s project to acquire a controlling stake in Hyundai Mobis’ lighting activity is progressing, with completion of the transaction envisaged, at the earliest, by the end of 2026.
• While closely monitoring the evolution of the current environment, the Group aims to improve its operating margin^d, net result Group share, free cash flow^g and net debt^h in 2026 compared to 2025.

Félicie Burelle, Chief Executive Officer of OPmobility, stated:

“In the first half of the year, OPmobility demonstrated once again the effectiveness of its diversification strategy and the ability of our teams to adapt to the rapid changes of the market. Our worldwide geographic footprint enabled the Group to record revenue slightly up excluding currency effects. The strong performance of Exterior & Lighting and C-Power, combined with the measures implemented to limit cost increases linked to energy and raw materials, supported its operating margin. With strong cash flow, the Group continues to deleverage and to pursue its selective investment policy. While remaining mobilized on containing the impact of the situation in the Middle East, OPmobility confirms its 2026 targets.”

2026 half-year results

The OPmobility SE Board of Directors, chaired by Mr. Laurent Burelle, met on July 21, 2026, and approved the consolidated financial statements for the half-year ended June 30, 2026.

The statutory auditors have reviewed the financial statements.

Figures communicated are presented using the following segment reporting formatⁱ:

• 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 revenue^b totaled €5,202 million in H1 2026, down -2.4% and up +0.2% like-for-like^c, compared to H1 2025.

• The currency effect for the period of -€136 million mainly concerns fluctuations in the US dollar and is primarily concentrated in the first quarter. The second‑quarter currency effect is more contained, as Q2 2025 already included a negative currency effect.
• The scope effect in H1 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. OPmobility deconsolidated its Modules activities in China from that date when they were integrated into the YFPO joint venture, owned 49.95% by OPmobility.

OPmobility economic revenue^a totaled €5,822 million in H1 2026, up +0.4%^c like-for-like, compared to H1 2025.

Joint ventures delivered growth of +1.7%^c like-for-like in H1 2026, driven mainly by SHB’s module assembly activities in South Korea.

• Exterior & Lighting: economic revenue^a decreased -4.6% (-2.9% LFL^c) in H1 2026 year-on-year to €2,634 million. Exterior parts production activities were impacted in H1 2026 as program launches were postponed to the coming months. Conversely, the lighting activity was driven by several production launches, mainly in North America.
• Modules: economic revenue^a decreased -0.7% (+2.4% LFL^c) in H1 2026 year‑on-year to €1,853 million. Module assembly activities continue to grow in the United States and South Korea, offsetting a slowdown in Europe and China.
• Powertrain: economic revenue^a totaled €1,335 million, up significantly by +4.7% LFL^c year-on-year. This performance was mainly driven by the C‑Power business group, with higher fuel tank and emission reduction system production volumes than in H1 2025, in Europe, North America, and Asia excluding China. The H2-Power business group continued to develop partnerships mainly in China, in a regulatory and political environment favorable to hydrogen.

OPmobility continues to outperform the automotive market in North America and Asia

In an environment marked by persistent trade tensions and an uncertain geopolitical context in the Middle East, global automotive production^j decreased by -1.0% in H1 2026 year-on-year, particularly in China.

In Asia, regional momentum remained mixed. Growth in India and South-East Asia only partially offset the slowdown in automotive production in China, down -5.2%^j, with increased competition, price pressure and weaker domestic demand continuing to weigh on the market. In North America, volumes are stable in H1 2026 combining growth in the United States and a slowdown in Mexico and Canada, driven by tariff-related trade negotiations. In Europe, manufacturers continued to adjust their production in an ongoing context of moderate demand.

• In Europe, economic revenue^a totaled €3,023 million, down -2.9% LFL^c year-on‑year, due in particular to the postponement of some program launches by European manufacturers in Western Europe, partially offset by good performance in the rest of Europe.

• In North America, economic revenue^a totaled €1,597 million, up significantly by +5.9% LFL^c year-on-year. In H1 2026, the C-Power business group continued to benefit from favorable momentum in fuel tank production. The Modules activity in Austin also continued to contribute to growth in the United States, supported by a program launched by an American manufacturer in Q3 2025. In addition, assembly of the first robotaxi modules began at the same plant, with a gradual ramp‑up scheduled over the year. Finally, the lighting activity recorded an increase in revenue, mainly driven by several launches in Mexico since April.

• In China, economic revenue^a decreased -13.6% like-for-like^c in H1 2026, in a market which contracted by -5.2% over the same period. In this context, the exterior systems activity, conducted through YFPO, the joint venture with Yanfeng, performed in line with the market, with a significant share of activity with local manufacturers. The C-Power business group operates in a market shaped by growth in electric vehicles, mainly driven by local Chinese manufacturers, while continuing to develop in the hybrid vehicle segment.

• In the rest of Asia, economic revenue^a rose sharply to €577 million in H1 2026, up +13.3% like-for-like^c year-on-year, outperforming automotive production^h by +8.3 points. The Group continues to record sustained growth in South Korea in module assembly activities and in India, where the C-Power business group and Exterior activities benefited from strong production growth in this country.

1 Africa and South America.

Operating margin of €251 million

In H1 2026, the Group operating margin^d totaled €251 million compared to €260 million in H1 2025 and represented 4.8% of Group revenue, stable year-on-year. OPmobility is fully mobilized to contain cost increases linked to the situation in the Middle East and structure costs, in a context of internal transformation and increased digitalization.

The Exterior & Lighting operating margin^d amounted to €133 million in H1 2026, representing 5.8% of revenue^b, driven by an Exterior operating margin that remains very strong and an improvement in the Lighting operating margin.

The Modules operating margin^d amounted to €35 million in H1 2026, i.e. 2.2% of revenue^b, down -0.5 points on H1 2025, due to a less favorable product mix and higher launch costs.

The Powertrain operating margin^d amounted to €87 million in H1 2026, i.e. 6.5% of revenue^b, up significantly by +0.8 points on H1 2025. In the C-Power business group, fuel tank and emission reduction system production activities and electrification activities posted an increase in the operating margin.

2 Corresponds to intra-group eliminations and amounts that are not allocated to a specific segment (notably holding company activities and OP’nSoft, a software development entity).

Net result Group share of €102 million

Net result Group share reached €102 million in H1 2026, (2.0% of consolidated revenue^b), up +€12 million on H1 2025 mainly due to a decrease in other operating income and expenses, and an improved financial result.

Net financial income and expenses totaled -€56 million in H1 2026, compared to -€69 million in H1 2025. It includes financial expenses that remain contained, and also a reduction in foreign exchange losses.

The income tax expense amounted to - €45 million in H1 2026, representing an effective tax rate of 35.5%, compared to 34.0% in H1 2025.

Strong free cash flow generation of €167 million.

Adjusted EBITDA^e amounted to €488 million in H1 2026, compared to €516 million in H1 2026.

Investments^f increased by +€31 million to support the future growth of the Group and represented 4.9% of revenue^b. The construction of the new plant in the United States dedicated to exterior solutions, scheduled to start production in the second half of 2027, will impact investments from H2 2026.

The change in working capital requirement was +€98 million in H1 2026, vs. +€7 million in H1 2025.

Free cash flow^g therefore remained solid at €167 million in H1 2026, representing 3.2% of revenue^b.

Further reduction in net debt

At June 30, 2026, the Group’s net debt^h stood at €1,319 million, down -€90 million from €1,409 million at December 31, 2025. OPmobility’s leverage is therefore 1.4x EBITDA at the end of June 2026, stable on the end of December 2025, with gearing (net debt to equity) of 59%.

The Group’s next significant refinancing maturities will occur in 2029. At June 30, 2026, the Group has €2.5 billion in liquidity.

OPmobility accelerates its development in key markets

OPmobility is stepping up the deployment of its diversification strategy in a transforming automotive market. This momentum is reflected in the strengthening of strategic partnerships, the targeted expansion of the Group’s industrial footprint and the development of its activities in the main automotive markets worldwide.

OPmobility strengthens its position in China and internationally with Chinese manufacturers

Since June 1, 2026, the YFPO joint venture, China’s leading manufacturer of exterior parts, has expanded its scope to include OPmobility’s and Yanfeng’s module assembly activities, as well as signature and decorative lighting solutions, to meet the growing demand from manufacturers in China.

At the same time, in addition to its contracts with Chery in Spain and Brazil, OPmobility won its first contracts with Leapmotor International outside China to equip vehicles for the European market with exterior parts. This partnership confirms the Group's ability to support the international expansion of Chinese manufacturers thanks to a strong existing industrial footprint.

OPmobility accelerates its ambition in the United States with the construction of a new plant

The Group strengthened its industrial presence in the United States with the construction of a new manufacturing plant in Toledo, Ohio. This site is OPmobility’s first location dedicated to exterior solutions in the Midwest and will support the growth of the American automotive market. Production is scheduled to start in the second half of 2027.

This new plant will produce bumpers, grilles and tailgates, while integrating the latest automation and digital manufacturing solutions to optimize production flows, traceability, and global operational excellence.

OPmobility intensifies its developments in electrification in line with its multi-energy storage strategy

The Group won a major contract in North America to supply more than one million battery packs for the future hybrid models of a global manufacturer. This commercial success confirms the relevance of OPmobility’s electrification solutions strategy and illustrates its ability to support its customers across all battery technologies, from current solutions to the most innovative generations.

In addition, OPmobility signed a memorandum of understanding with ProLogium in June 2026 to develop battery modules and packs incorporating solid-state battery cells. This partnership is fully aligned with the strategy to design and assemble battery packs, regardless of the cell technology used.

OPmobility moves forward with its acquisition project in lighting

The Group’s project to potentially acquire a controlling stake in Hyundai Mobis’ lighting business is progressing, with completion of the transaction envisaged, at the earliest, by the end of 2026. This project is part of OPmobility’s strategy to strengthen its positioning in high value-added automotive lighting solutions and accelerate its technological and international development.

OPmobility accelerates its decarbonization trajectory and strengthens its energy autonomy

OPmobility continues to execute its decarbonization roadmap by further securing its long-term renewable electricity needs. At the end of June 2026, nearly 40 Group sites were equipped with solar panels or wind turbines.

In Spain, the multi-year supply agreement signed with EDP in early 2026 will cover approximately 25% of OPmobility’s local operations' current electricity needs starting this year, enhancing the Group's visibility regarding a portion of its energy supplies.

In addition, the Group’s energy improvement program launched in 2021 continues to deliver results, with energy consumption posting a decrease of -2.8% in H1 2026 compared to 2019³.

Having successfully achieved carbon neutrality on its scope 1 and 2 emissions in 2025, OPmobility is accelerating its actions with suppliers and customers to reach its objective of a 30% reduction in scope 3 emissions by 2030 compared to 2019, while contributing to its ambition to become Net Zero by 2050. This approach is notably based on the increasing integration of recycled materials into the Group’s exterior systems and fuel tanks, helping to reduce the carbon footprint of its products throughout their lifecycle.

3 Data available from June 2025 to May 2026, compared to FY 2019 data.

Outlook

In a complex environment and a challenging market, the Group’s H1 2026 performance demonstrates the relevance of its technological and geographical diversification strategy and its operational proximity to customers.

OPmobility is closely monitoring the situation in the Middle East and the potential consequences for the automotive market. The impact on production volumes is relatively limited for the Group at this stage.

At the same time, OPmobility’s project to acquire a controlling stake in Hyundai Mobis’ lighting activity is progressing, with completion of the transaction envisaged, at the earliest, by the end of 2026.

While closely monitoring the evolution of the current environment, the Group aims to improve its operating margin^d, net result Group share, free cash flow^g and net debt^h in 2026 compared to 2025.

Webcast of the H1 2026 results presentation

The H1 2026 results of OPmobility will be presented during a webcast conference on Wednesday, July 22, 2026 at 9:00 am (CET).

To follow the webcast, please click on the following link:
https://opmobilityen.engagestream.euronext.com/2026-07-22-hy

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.

Calendar

• October 21, 2026: Q3 2026 revenue

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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

Contacts

INVESTOR RELATIONS
Stéphanie Laval
investor.relations@opmobility.com

MEDIA
Ambroise Ecorcheville
media@opmobility.com

Glossary

1. 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.
2. 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.
3. 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 H1 2026, it amounted to -€168 million for economic revenue and -€136 million for consolidated revenue.
   ii. Scope effect in H1 2026 of -€7 million on consolidated revenue.
4. 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.
5. e) Adjusted EBITDA corresponds to operating margin, which includes the Group’s share of income from associates and joint ventures, before depreciation, amortization, and operating provisions.
6. f) Investments comprise expenditure on property, plant and equipment and intangible assets, net of disposals.
7. g) 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).
8. h) 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.
9. i) 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 H2-Power (hydrogen activity) business groups.
10. j) Global or regional automotive production data refer to Mobility Global forecasts published in July 2026 (<3.5-ton passenger car segment and commercial light vehicles).

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