Along with its 2014 interim results, Faurecia announces strong improvement in performance and upwards revised guidance for 2014.
First half of 2014 figures :
- Total sales up 4.0% to €9.33 billion;
- Faurecia outperformed automotive production in Europe and Asia;
- Significant improvement of operating income at €311 million, or 3.3% of total sales (+50 basis points);
- Net cash flow at €177 million, exceeding the target;
- Net financial debt at €1.39 billion, down €125 million;
- Full year 2014 guidance revised upwards, with operating margin expected to improve by 30 to 60 basis points (compared with the previous guidance of “20 to 50 basis points” announced on February 12, 2014).
Yann Delabrière, Chairman and CEO of Faurecia, stated: “Faurecia posted a solid sales growth during the first half of 2014, driven in particular by remarkable growth in Asia, where sales jumped more than 20%, as well as in Europe, where Faurecia’s growth has outpaced the rise in automotive production. Faurecia improved its profitability with an operating margin up 50 basis points. All of Faurecia’s activities showed improvement,
notably Faurecia Emissions Control Technologies, where profitability rose 260 basis points.”
TAGS: Results, Finance
