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Forvia cautious on 2022 sales as China, Ukraine cloud auto outlook

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Reuters UK

(Reuters) -Forvia, the European car parts maker born from Faurecia’s takeover of German rival Hella, issued its first annual targets at the low end of forecasts, citing caution linked to Chinese lockdowns and the war in Ukraine. The combined group should generate sales of around 23 billion to 24 billion euros ($25 billion-$26 billion) this year with a profit margin of 4%-5%, it said on Tuesday in its first financial guidance since the deal was sealed in January. Analysts polled by Visible Alpha had on average predicted combined sales of 24 billion euros for 2022 – a 54% jump from Faurecia’s re…

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