Faurecia saw first-half operating profit grow 21% to 311 million euros

Article by Christian A., on July 31, 2014

Faurecia posted a 21-percent surge in operating profit in the first half of 2014 to EUR311 million ($418 million) despite only a 0.7-percent rise in revenues to EUR9.33 billion. In effect the French supplier hiked its full-year profit forecast for 2014, expecting strong demand in Asia and higher market share in Europe.

It also expects its full-year operating margin to increase by 30 basis points to 60 basis points, a hike from initial target of 20 basis points to 50 basis points.

The supplier logged a 3.3-percent sales margin in the first half of 2014. Faurecia is currently pushing an expansion in Asia and North America to cut its dependence on Europe, where auto demand is still recovering, albeit gradually.

In November 2013, Faurecia outlined a target for an operating profit margin of 4.5 percent to 5 percent by 2016, relying on the rate of auto output in Europe.

Chief executive Yann Delabriere remarked in a company statement that Faurecia’s solid sales growth in the first half of 2014 was particularly by a 20-percent growth in Asia, as well as gains in Europe that outpaced the surge in auto production.

Faurecia reiterated its goal of increasing its full-year sales by 2 percent to 4 percent at constant exchange rates.

Topics: faurecia, profit

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Cadillac’s CT6 full-size prestige-luxury sedan is still somewhat new. It has been offered to the global auto market for two model years – 2016 and 2017. But for those who...
by - February 19, 2017
In many industries, it is the rivalries that make things exciting. In basketball for example, there is the well-known rivalry between the Los Angeles Lakers against the Boston Celtics. For...
by - February 19, 2017
Now on sale in several major markets around the world including Europe, the BMW 5 Series (G30) heralds the arrival of the new seventh generation and represents a whole new...
by - February 19, 2017
Just recently, it was speculated that a new Porsche Cayman GT4 RS is coming. There is no official confirmation yet from the German sports car maker, but the arrival of...
by - February 18, 2017
Will there be a BMW M4 CS? Apparently, there is a Club Sport version of the BMWM4 after it was sighted in California doing a shoot for a new commercial...
by - February 18, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries