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.

If you liked the article, share on:

Topics: faurecia, profit

Comments

Recommended

Before the W177 goes on sale in 2018, Mercedes-Benz had to go back to the drawing board to check on the A Class’ interior. This is because the new model...
by - November 24, 2017
If you see the Aston Martin’s 2018 Vantage, you would think that it is significantly different from most of Aston’s GT lineup. For instance, if the DB11 is a fine...
by - November 24, 2017
Even as Chevrolet is making a huge splash in the industry with the recent launch of the new Corvette ZR1, there may be trouble brewing. Chevrolet has announced huge discounts...
by - November 24, 2017
The 2018 GMC Sierra 2500HD has arrived this week at the snowy mountains in Colorado for its winter long debut. GMC’s tracked Sierra Mountain Concept will be on display at...
by - November 24, 2017
We’re willing to bet that the Bentley Bentayga is not the first thing that comes to mind for most people who are into off-roading and outdoor activities. It just doesn’t...
by - November 23, 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