July 28 (Reuters) - Car parts supplier Forvia (FRVIA.PA) reported a half-year loss of 269 million euros ($316 million) on Monday, led by a 136 million euro hit on assets related to a hydrogen joint venture after Stellantis discontinued its hydrogen programme.
Stellantis announced the termination of the hydrogen fuel cell technology development programme in mid-July, impacting its SYMBIO joint venture with Forvia and Michelin that relies on the carmaker for more than 80% of its business.
>> In Other News: Top UN Court Opens Door for Countries to Sue Each Other Over Climate Change
"It's clear that there's a major review to be carried out, that we're trying to work responsibly," Olivier Durand, Forvia's Chief Financial Officer, said in a call with journalists, adding the companies were looking at possible options for the business.
While the net result swung to a loss after last year's small profit, Forvia reported a 7.8% rise in its earnings before interest, taxes, depreciation and amortization (EBITDA) to 1.76 billion euros in the first half of 2025.
The France-based group made around 23% of its sales in North America and said U.S. tariffs had no material impact on the results thanks to effective counter measures, including strict cost and cash discipline.
The U.S. struck a framework trade agreement with the European Union on Sunday, imposing a 15% import tariff on most EU goods, including cars and car parts that were previously subject to 25% duties.
"If it reduces volatility and uncertainty, it's better for all economic players," Durand said.
Forvia booked new orders worth 14 billion euros in the first half, down from 15 billion a year ago, but confirmed its full-year guidance for sales of 26.3 billion to 27.5 billion euros.
"A number of tenders were postponed because of uncertainties over certain markets, and we were affected. I expect an improvement in the second half of the year," Durand said.
($1 = 0.8515 euros)
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 💧 Blue Hydrogen Just Won 2025: 10x More Than Green ✈️ Houston American Energy Advances Development of Sustainable Aviation Fuel ⛏️ Max Power Expands Natural Hydrogen Discovery Po...
Inside This Issue ⚡ Google's Power Play: First CCS Deal Reshapes Energy 🌎 True North Carbon's Tamarack Project, Canada's Largest Single-Technology Direct Air Capture Deployment, Achieves First Cap...
Inside This Issue 💰 The $27/ton Question: What Makes a Carbon Removal Credit Worth 3x More? 🛢️ EPA Issues Three Class VI Permits to ExxonMobil in Jefferson County, Texas 🌍 UN Endorses First Articl...
BILBAO, Spain — H2SITE, the deep-tech start-up revolutionizing high-purity hydrogen production through cutting-edge palladium membrane technology, is scaling up its industrial presence with project...
CCS+ Initiative and Puro.earth Join Forces to Integrate Carbon Credit Methodologies and Scale CCS
Today, the CCS+ Initiative and Puro.earth (Puro), a leading standard and registry for durable carbon removal, announced that they have signed a Memorandum of Understanding (MoU). Through this strat...
October 27, 2025 Company to supply critical compression equipment for ammonia production and CO2 transportation, and a steam turbine-driven power generation generator technology Facility to produ...
BUFFALO, N.Y., Oct. 27, 2025 /PRNewswire/ -- Buffalo Biodiesel Inc., a leading recycler of used cooking oil (UCO) and a pioneer in renewable feedstock production, recently announced that it has suc...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.