Dowlais Group plc, a specialist engineering group focused on the automotive sector, released a trading update for the ten-month period ending October 31, 2024. The groups performance was in line with expectations, with adjusted revenue of ยฃ4.2 billion, reflecting a 6.1% year-on-year decline, largely due to weakness in the ePowertrain product line. The Driveline product group outperformed global light vehicle production outside China, while the China JV revenues remained flat. Powder Metallurgy revenues declined marginally. The adjusted operating margin was 6.1%, with the Automotive segment at 6.4% and Powder Metallurgy at 9.0%. The group maintains its full-year guidance, expecting a mid-to-high single-digit adjusted revenue decline and an adjusted operating margin of 6.0% to 7.0% in constant currency. The full-year results will be announced on March 5, 2025. The groups CEO, Liam Butterworth, emphasized the resilience of the Driveline product group and the effectiveness of their strategic actions in navigating market challenges.
Note: The table presents a comparison of Dowlais Group's financial performance between the ten-month period ended October 2024 and the previous year (2023). The year-on-year change is calculated and presented as a percentage. However, the data for the full year 2023 is not available in the provided text, hence those cells are marked as "N/A" (Not Available). The debt-related information is also not explicitly mentioned in the provided text.