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      "text": "Strong underlying demand continues to be constrained by industry supply issues\nSales continue to be constrained by ongoing supply chain shortages; significant level of pent-up demand remains\nDemand volatile in H1 with OEM changes at short notice; customer cancellations 'in-month' reducing going into H2\nStrong bookings with £2.6 billion of lifetime revenue new business wins in H1 – 19% higher than H1 2021\nWell positioned to capture incremental electrification growth\nSubstantial market share gains in core Driveline products on electric vehicles and hybrids – promising future mix\nNext generation high voltage inverter developed – offers increased efficiency, performance and sustainability\nIncreasing proportion of new business wins in EVs – including eDrive components and systems\nActively managing inflation impacts and demand fluctuations with operational agility\nAddressing issues from raw material, freight and labour shortfalls (e.g. Covid China lockdown)\nDecisive actions being taken to offset inflation through further cost reductions, procurement initiatives and pricing recoveries\nTime lag effect means that financial performance will be second half weighted\nTransforming the business with a clear path to 10%+ target operating margin\nOngoing cost saving actions with new global indirect cost projects initiated and closure of Birmingham plant completed in H1\nBusiness well placed to achieve target operating margin once supply constraints ease\nDriving a cleaner, more sustainable world\nLeading technology contributes to the electrification and decarbonisation of the industry\nIntensive efforts to make products lighter and more efficient to reduce environmental impact",
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