Financial GuidanceThe downgrade to FY24F guidance is clearly disappointing, driven by the impact of EV volatility on the ePowertrain business.
Industry ConditionsFY24 is not turning out to be a more 'normal' year for the industry, with a tough volume backdrop exacerbated by headwinds from EV-related volatility.
Sales PerformanceDowlais reported sales of £1.7bn, showing a slight decline at constant exchange rates (-1.9%).