OPmobility lowers 2026 targets, to cut 770 jobs in Europe

By Jerome Terroy

Oct 7 (Reuters) - French auto parts maker OPmobility lowered its 2026 financial targets on Wednesday and said it would cut about 770 jobs in Europe amid a sharper-than-expected deterioration in automotive market conditions.

Here are some more details:    

• OPmobility targets a 2026 operating margin of 430 million euros to 450 million euros, and free cash flow exceeding 220 million euros ($246.27 million)

• Its free cash flow had reached 297 million euros in 2025, while operating margin was 490 million euros

• The supplier plans to eliminate about 460 positions in Germany and 310 in France to address excess industrial capacity and adapt to market needs

• The measures will lead to the closure of two R&D facilities in France and the shutdown of its Sterbfritz exterior parts plant in Germany

• The company expects restructuring costs of 120 million euros to 130 million euros in 2026 related to measures aimed at adapting its industrial footprint, improving competitiveness and streamlining R&D operations

• OPmobility cited lower global auto production forecasts, customer activity adjustments in Europe and delays in the hydrogen mobility market, including project cancellations in the US and Europe, for adjusting its roadmap and 2026 targets

($1 = 0.8933 euros)

(Reporting by Jerome Terroy in Gdansk; Editing by Shilpi Majumdar)