Forvia SE - Company Profile
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Business Description
Forvia SE (Forvia) designs develops, manufactures, and supplies automotive equipment worldwide. The company offers seat components such as frames, adjustment mechanisms and foams. It also provides vehicle interior products such as instrument panels, modules and door panels, and acoustic products. The company's major customers include Ford, Volkswagen, Renault, Stellantis, Mercedes Benz, BMW and others.
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R&D Overview
Forvia is actively engaged in R&D initiatives that focus on sustainable composite manufacturing, connectivity, environmental impact of electric vehicles, sustainable electronics, and circular biocomposites. The company participates in EU-funded programs to explore these areas and collaborates with industry, start-ups, and academic institutions to secure funding, bring together necessary skills, and share innovation risks. The R&D units of Forvia include a global network of 78 R&D centers and a team of 15,000 engineers. These units are responsible for managing the company's R&D activities, which include tracking the latest evolutions in their expertise domains, sharing transversal knowledge, and coordinating relationships with industry, start-ups, and academic partners. Forvia has 12,900 patents in its portfolio and 1,400 patent filings in FY2024. The company has close to 900 programs in its portfolio and launched over 400 programs in FY2024. Major technology alliances include partnerships with Accenture for artificial intelligence, Palantir for data analysis, and Microsoft for Cloud Strategy. In FY2024, it spent EUR934.8 million on R&D, which was 3.5% of its revenue and grew 1.9% YoY.
Business Segments
Overview
Provides solutions for weight reduction, pollutant emissions control, acoustic treatment, and energy recovery to automakers to meet stringent environmental standards. Designs, develops, manufactures, and supplies exhaust systems and components including mufflers, manifolds, catalytic converters and emissions. Offers self-adjusting adaptive valve to support lighter-weight vehicles. In FY2024, the segment's capital expenditure stood at EUR92.3 million, which decreased 27.3% YoY.
Performance
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Overview
Offers software and electronics expertise of Clarion, Parrot Automotive and Coagent Electronics as well as other acquisitions such CovaTech and Creo Dynamics. In FY2024, the segment's capital expenditure stood at EUR222.7 million, which decreased 9.5% YoY.
Performance
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Overview
Designs, develops and manufactures instrument panels and center consoles, door panels and modules, and acoustic products and modules for automotive applications. Also offers decorative components such as paint, film, wood and aluminum for vehicle interiors. In FY2024, the segment's capital expenditure stood at EUR185 million, which decreased 11.9% YoY.
Performance
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Overview
Provides solutions to a vehicle's lifecycle which includes workshop and special original equipment. In FY2024, the segment's capital expenditure stood at EUR14.1 million, which decreased 35% YoY.
Performance
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Overview
Offers the design and manufacturing of lighting technologies. In FY2024, the segment's capital expenditure stood at EUR224.6 million, which decreased 11.7% YoY.
Performance
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Overview
Offers automotive seating components which include frames, mechanisms and motors, padding, seat covers, electronic and pneumatic systems and accessories. Also offers frames and seat mechanisms. Assembles front and rear seats to its customers’ plants. In FY2024, the segment's capital expenditure stood at EUR186.8 million, which decreased 15.5% YoY.
Performance
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Geographical Segments
Target Markets
the US, Canada, Brazil, Mexico, Uruguay and Argentina.
Performance
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Target Markets
China, India, Thailand, Japan, South Korea and Malaysia.
Performance
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Performance
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Performance
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Target Markets
Poland, Russia, Romania, the UK, Portugal, Spain, Italy, Austria, Hungary, Slovakia, Denmark, the Netherlands, and the Czech Republic.
Performance
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Performance
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