Above Guidance Revenue
Revenues came in at €820 million, above the midpoint of the guidance, despite seasonality and cyclical weaknesses, with a year-over-year decline of only 3%.
Improved Profitability
Adjusted EBITDA margin improved year-over-year by almost 2 percentage points to 16.4%, with a 9% increase in adjusted EBITDA coming in €11 million higher at €135 million, despite lower revenues.
Book-to-Bill Ratio Improvement
Book-to-bill ratio improved to above 1 during the quarter across all business segments, indicating a positive trend in order intake.
Re-establish the Base Program
Realized run rate savings at €135 million by the end of the first quarter, significantly ahead of plan, contributing to structural improvement in profitability.
Successful New Product Launches
Further car models featuring EVIYOS headlamp product are being launched, with significant design wins in automotive, industrial, and consumer segments.