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

Those in the United Kingdom may now order a new version of Skoda’s sports utility vehicle – the new Skoda Kodiaq Sportline. It will be slotted between SE L and...
by - December 10, 2017
As part of its new electrification strategy, German carmaker Volkswagen is working to finalize the production version of the Volkswagen I.D. Crozz SUV concept and introduce the new vehicle to...
by - December 10, 2017
The company founded by Ferdinand Porsche has been in the business of building vehicles -- sports cars, SUVs and race cars – since 1931. The brand has long catered to...
by - December 9, 2017
BMW strongly believes that the future will be all about the electrification, or should we say e-mobility. And this is why as early as now, they already have a vision...
by - December 8, 2017
At this year’s FIA World Touring Car Championship, it was Volvo that stood out and became the victor with an S60 TC1 race car. So to celebrate this victory, the...
by - December 8, 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