Automotive Industry StrugglesSeeing Machines' H1 performance is indicative of wider auto industry struggles, with broadly flat revenues and ARR, leading to a larger-than-expected adjusted cash EBITDA loss.
Production Volume ReductionRevenue for the first half of the year is expected to include a reduction in production volumes, as new cars on the road dropped and OEMs downgraded lower specification vehicles.
Revenue ChallengesAftermarket production delays have been the true cause of the current revenue pause with the division declining 25% in H1.