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

Recommended

After the highly dynamic Polestar 1 two-door coupe – Polestar’s first ever production car -- was recently unveiled, not a few people’s curiosity was piqued as to how much they...
by - October 21, 2017
The BMW 7 Series is already highly sought after but nonetheless, the German marque is giving it a more exclusive variant for the Russian market, and they are calling it...
by - October 20, 2017
Several automakers including Porsche, Volkswagen, Smart and even Land Rover have all been victimized by cheap Chinese copycats. And if you haven’t seen it yet, the most recent one would...
by - October 20, 2017
The Mercedes-Benz G-Class has been around for quite some time now but to bid it farewell, the company has launched the Mercedes-AMG G65 Final Edition. Mercedes will only build a...
by - October 20, 2017
Have you ever wondered what you can you buy with $9,365 in your pocket? Well, you have quite a lot of options. In fact, you can even purchase a used...
by - October 20, 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