Dowlais Group plc (DWLAF), an automotive parts maker, announced that its performance in the three-month period ended on March 31, 2025, was in line with management's expectations. The company continues to execute its strategic priorities despite a volatile market environment.
Adjusted revenue for the period was 1.3 billion pounds, representing a 2.5% year-on-year decline at constant currency, against a 2.7% decline in light vehicle production outside China and a 1.3% increase in global light vehicle production.
The company's full-year performance is now expected to be towards the low end of its guidance range for 2025 of flat to a mid-single digit adjusted revenue decline and an adjusted operating margin of between 6.5% and 7.0% in constant currency. The Group's adjusted free cash flow is now expected to be lower than the prior year, given the lower volumes and higher restructuring costs.
The company anticipates the tariff-related cost recovery to be second-half weighted. This will result in a weaker trading and cash first-half performance, before a material improvement in the second half, driven by the timing of the tariff recoveries.
The Group's interim results are expected to be announced on 7 August 2025.
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