OPmobility Consolidated Revenue Rises 3.2% in Third Quarter as Markets Diverge
Key Facts
OPmobility's consolidated revenue rose 3.2% on a reported basis in the third quarter of 2026, according to the company's earnings statement, with consolidated and economic revenue showing divergent performance. Consolidated revenue reached 2,437 million euros, compared with 2,362 million euros in the third quarter of 2025. On a like-for-like basis, consolidated revenue grew 2.8%. Economic revenue totaled 2,763 million euros, compared with 2,719 million euros in the corresponding period, a reported increase of 1.6%. However, it fell 0.3% on a like-for-like basis, alongside declining joint venture revenue and uneven performance across major markets.
For the first nine months of 2026, consolidated revenue totaled 7,639 million euros, according to the same statement. That compared with 7,695 million euros in the corresponding period of 2025. Year-to-date revenue fell 0.7% on a reported basis, despite rising 1.1% on a like-for-like basis. In the third quarter, joint venture revenue declined to 325 million euros from 356 million euros a year earlier. Revenue from these ventures fell 8.7% on a reported basis, while the like-for-like decline reached 19.0%, according to the company's figures.
By region, economic revenue in Europe rose 8.6% year-on-year on a like-for-like basis, according to the third-quarter earnings presentation. In contrast, economic revenue in North America fell 5.9% on the same basis. China recorded a steeper decline, with economic revenue falling 33.2%. The company identified specific markets as growth drivers, saying "the United States, Eastern Europe, South Korea and India are the main drivers." The inclusion of the United States among these drivers coincided with a decline in economic revenue for North America as a whole during the period.
By business, the Exterior & Lighting segment recorded like-for-like consolidated revenue growth of 4.1% in the third quarter. Revenue in the Modules segment rose 3.2%, according to the company's statement. The Powertrain segment posted slower growth of 0.5% on the same basis. For comparison with its previous financial performance, the company generated operating profit of 251 million euros in the first half of 2026. That equated to 4.8% of revenue, while first-half free cash flow totaled 167 million euros, according to the earnings disclosure for that period.
The quarterly results follow the announcement of restructuring projects in October, including around 460 job cuts in Germany. The proposed projects also include 310 job cuts in France, according to the company's restructuring statement. OPmobility expects restructuring costs for the 2026 financial year to range between 120 million and 130 million euros. The statement linked adjustments to the Powertrain business to delays in the development of the hydrogen mobility market and project cancellations in the United States and Europe. Meanwhile, the company opened an exterior body parts plant in Kenitra, Morocco, to supply a major international customer and create more than 100 jobs.
The company lowered its financial targets for 2026 in October, targeting operating profit of between 430 million and 450 million euros. Under the revised guidance, it also targeted free cash flow of more than 220 million euros for the year. In reaction to the announcement of the target cuts and restructuring, the shares fell 19.2% during trading on 8 October 2026, according to Investing.com. The share price stood at 10.05 euros during the trading cited in the report. The move followed the announcement of the revised guidance and restructuring plan, ahead of the third-quarter revenue disclosure.
As part of its expansion, OPmobility signed a definitive agreement to acquire 100% of Hyundai Mobis' lighting business at an enterprise value of 600 billion Korean won. The target business generated revenue of 2.5 trillion Korean won and positive operating profit in 2025, according to the deal statement. Among its upcoming industrial projects, the company plans to open a new plant for its C-Power business in India by the end of 2026. It aims to complete the lighting business acquisition in the second half of 2027, according to its quarterly earnings presentation. Completion of the deal remains subject to customary competition and regulatory approvals.