• Q1 financial performance: The company posted a 3.6% constant currency revenue degrowth and an EBITDA margin of 17.2%, driven down by sharp revenue declines from European and Japanese clients amid global automotive headwinds.
• Full-year margin outlook: The previously guided full-year EBITDA margin target of 20.5% is no longer intact following the sudden drop in client revenues.
• H2 recovery drivers: Management expects H2 to outperform H1, supported by higher wallet share in existing OEMs, traction in the off-highway truck segment, and new client engagements across Japan, Korea, and Southeast Asia.
• Operational efficiency levers: Management is withholding specific Q2 margin guidance but expects EBITDA improvement over subsequent quarters through cost optimization programs and productivity gains from AI tools.