Business is going very well at the supplier.
(Photo: dpa)
Munich The Regensburg-based automotive supplier Vitesco is more confident about the year as a whole in view of increasing car production. The company announced on Monday that sales would rise to 9.0 to 9.2 billion euros, more than previously expected at 8.6 to 9.1 billion euros. The reason for this is that more vehicles are being manufactured worldwide than previously assumed.
In China in particular, the prospects for car production have improved. At the same time, however, the rising prices are causing problems for the company. The profit margin should be 2.3 to 2.5 percent; previously Vitesco had expected 2.2 to 2.7 percent.
In the third quarter, adjusted sales improved by 13.6 percent to 2.3 billion euros, adjusted operating profit roughly doubled to 47.9 million euros. “In the third quarter of 2022, too, the high inflation effects in the form of increased material, energy and transport costs influenced the company’s overall result,” said CFO Werner Volz.