Delfingen: Revenue Down 6.2% in Q1, Asia Holds Strong

Automotive in Decline, Industry on the Rise

The group's revenue stands at €97.1 million, down 11.7% in raw data, or -6.2% at constant exchange rates. The unfavorable exchange rate effect (€/$ parity) accounts for 5.6 percentage points of this contraction. The Automotive segment recorded €75.7 million, down 13.7% (-8.3% at constant exchange rates), reflecting persistent weak demand in Western Europe and North America. The Industry segment posted revenues of €21.4 million, down 4.0% in raw data but grew by +2.2% at constant exchange rates. Adjusted for the voluntary discontinuation of non-contributive contracts within the Fluid Transfer activity, Delfingen's decline would have been limited to 1.8% in the first quarter. This correction compares to a 3% decline in global automotive production over the quarter, suggesting some resilience of the group in its home market.

Growth Areas Partially Offset European and North American Decline

The geographic distribution of revenue reveals diverging regional dynamics. Europe-Africa accounted for €48.4 million, down 7.4% at constant exchange rates, penalized by the decline in European markets. However, gains recorded in Morocco (+18%) and Tunisia (+42%) help partially offset this decline. The Americas generated €33.7 million, down 9.9% at constant exchange rates, mainly due to the automotive contraction. Asia, however, confirms a positive dynamic with growth of +8.0% at constant exchange rates, amounting to €15.0 million in revenue. This region is supported by India (+15%) and China (+5%). The group's textile activity saw a volume increase of +13% this quarter, driven particularly by growth in Asia. The Industry segment recorded a notable progression in the United States (+9.7% at constant exchange rates), contrasting with the general automotive weakness in North America.