May 23, 2024

Byrdr Automotive

Car and Comfort

Faurecia reports 2019 sales and operating profit up | Automotive Industry News

Faurecia has noted 2019 revenue of EUR17.8bn, up one.4{7e488363c11ee5ef50445c8c4fa770b6e6e4f99e57faea264a05ac52abb3ffe0}, along with enhanced operating profits to EUR1,283m ({7e488363c11ee5ef50445c8c4fa770b6e6e4f99e57faea264a05ac52abb3ffe0}) and operating margin at seven.2{7e488363c11ee5ef50445c8c4fa770b6e6e4f99e57faea264a05ac52abb3ffe0}.

The business mentioned resilience of operating margin arrived despite a powerful detrimental effect from volume/blend of EUR188m and was reached many thanks to price savings of EUR175m.

Net funds flow was EUR587.0m, up eleven.2{7e488363c11ee5ef50445c8c4fa770b6e6e4f99e57faea264a05ac52abb3ffe0} year-on-year and nicely earlier mentioned the direction of at the very least EUR500m. It bundled a optimistic effect from the disposal of Clarion’s HQ in Saitama for EUR110m and a detrimental effect from bigger restructuring (EUR73m).

CEO Patrick Koller mentioned Faurecia shown resilience in a quite tough surroundings even though ‘continuing to deploy our transformation strategy’.

“We reached all our fiscal targets many thanks to our agility to adapt to market ailments that worsened for the duration of the year. At the very same time, we actively applied our tactic focused on the Cockpit of the Future and Sustainable Mobility. We created our new Small business Team, Faurecia Clarion Electronics, which has a very clear and strong roadmap for rewarding growth, and we obtained the remaining fifty{7e488363c11ee5ef50445c8c4fa770b6e6e4f99e57faea264a05ac52abb3ffe0} stake in SAS that we will consolidate as from this year,” he mentioned.

Koller also highlighted hydrogen investments. “We also continued our financial commitment in Gas Mobile Electric Vehicles by way of the development of a fifty/fifty joint venture with Michelin.”

He mentioned 2020 will be yet another tough year in terms of market ailments. “We hope, at this phase, a drop of about three{7e488363c11ee5ef50445c8c4fa770b6e6e4f99e57faea264a05ac52abb3ffe0} in around the globe automotive creation. We have the ideal strategies in position to strengthen our general performance. We will remain focused on resilience and funds generation.”