Regensburg – You’ve secured another billion-dollar deal!
Auto parts supplier Vitesco is making good progress collecting orders for its electric drive division. In the first quarter, orders for electrical components, at just under 3.7 billion euros, accounted for the lion’s share of the orders received, amounting to 4.5 billion euros, as the SDax company announced.
The division for e-drives still has relatively low sales at the company spun off from the automotive supplier Continental and is still in the red, but should be the mainstay in the future.
For the current second quarter, Vitesco expects the overall environment to be even more difficult than at the beginning of the year, when group sales fell by 1.9 percent to EUR 2.26 billion. Delivery bottlenecks, production losses due to lockdowns in China and the consequences of the Ukraine war are likely to mean that the global production volume of cars will only be slightly above the previous year’s level.
The bottom line is that Vitesco reduced the loss incurred in the first quarter from EUR 31.7 million a year ago to EUR 11.3 million now.