Sales at auto interiors maker Faurecia climb 8.3% in Q3
October 20, 2015 - France
Sales for the third quarter ended September 30, 2015 at producer of automotive components like seats and interiors, Faurecia rose 8.3 per cent year over year.
In a press release, Faurecia said its sales for the third quarter of 2015 grew 8.3 per cent from a year ago quarter to €4,749.3 million, and also went up 4.6 per cent at constant exchange rates and scope.
Over the quarter, exchange rate variations added 5.9 per cent on the business activity of the French manufacturer.
Segment-wise, Product sales totaled €3,705.2 million during the third quarter of 2015, up 4.8 per cent on an organic basis and up 11.1 per cent on a reported basis.
For the reporting quarter, Monolith segment sales drove up 10.5 per cent on organic basis at €779.9 million, while they climbed 3.8 per cent on a reported basis.
According to the company, harmonisation for monolith sales in Korea had a negative impact of €96.8 on the business results of the Monolith segment.
Tooling and Prototype segment sales however, contracted by 13.3 per cent on an organic basis and 11.3 per cent on a reported basis in the third quarter of 2015 to €264.1 million.
For the remainder of the year, Faurecia added that it will continue to benefit from a positive market momentum in Europe and in North America.
“In North America, profitability improvement is gaining momentum and confirm operating margin improvement target of above 120 basis points for full 2015,” it informed.
In China, Faurecia expects weak sales to continue into the fourth quarter of 2015 and it has already adjusted its cost base sharply and so confirms operating margin in Asia in the second half to be above 8.0 percent.
Faurecia also confirmed its second half and full year guidance by saying that for the second half, group operating margin has already reached 2016 target of 4.5-5.0 per cent.
For the full year, it expects total sales to be up around 5.0 per cent organically, operating margin higher than 4.0 per cent and net cash flow above €200 million.
Meanwhile, Faurecia also fully confirmed its 2016 guidance of group total sales of above €21.0 billion and operating margin between 4.5-5.0 per cent and net cash flow of around € 300 million. (AR)
In a press release, Faurecia said its sales for the third quarter of 2015 grew 8.3 per cent from a year ago quarter to €4,749.3 million, and also went up 4.6 per cent at constant exchange rates and scope.
Over the quarter, exchange rate variations added 5.9 per cent on the business activity of the French manufacturer.
Segment-wise, Product sales totaled €3,705.2 million during the third quarter of 2015, up 4.8 per cent on an organic basis and up 11.1 per cent on a reported basis.
For the reporting quarter, Monolith segment sales drove up 10.5 per cent on organic basis at €779.9 million, while they climbed 3.8 per cent on a reported basis.
According to the company, harmonisation for monolith sales in Korea had a negative impact of €96.8 on the business results of the Monolith segment.
Tooling and Prototype segment sales however, contracted by 13.3 per cent on an organic basis and 11.3 per cent on a reported basis in the third quarter of 2015 to €264.1 million.
For the remainder of the year, Faurecia added that it will continue to benefit from a positive market momentum in Europe and in North America.
“In North America, profitability improvement is gaining momentum and confirm operating margin improvement target of above 120 basis points for full 2015,” it informed.
In China, Faurecia expects weak sales to continue into the fourth quarter of 2015 and it has already adjusted its cost base sharply and so confirms operating margin in Asia in the second half to be above 8.0 percent.
Faurecia also confirmed its second half and full year guidance by saying that for the second half, group operating margin has already reached 2016 target of 4.5-5.0 per cent.
For the full year, it expects total sales to be up around 5.0 per cent organically, operating margin higher than 4.0 per cent and net cash flow above €200 million.
Meanwhile, Faurecia also fully confirmed its 2016 guidance of group total sales of above €21.0 billion and operating margin between 4.5-5.0 per cent and net cash flow of around € 300 million. (AR)