Reuters logo
Faurecia sales rise 7.3 percent on strong Asia performance
October 12, 2017 / 4:34 PM / in 4 days

Faurecia sales rise 7.3 percent on strong Asia performance

FILE PHOTO: Patrick Koller, Chief Executive Officer of French car parts supplier Faurecia, poses before the company's 2016 annual results presentation in Paris, France, February 9, 2017. REUTERS/Philippe Wojazer

PARIS (Reuters) - French auto parts maker Faurecia (EPED.PA) said on Thursday quarterly sales rose 7.3 percent as the maker of car seats, exhausts and interiors harnessed strong Asian demand and weathered a North American production slowdown.

Sales excluding passed-on catalytic converter monolith costs rose to 3.79 billion euros ($4.49 billion) in the third quarter, Faurecia said. Excluding the effects of acquisitions and exchange-rate fluctuations, revenue was up 10.7 percent.

Asian sales rose 19.3 percent on a reported basis to 701 million euros, helped in part by the consolidation of a Chinese joint venture with partner Changan. In North America, where Faurecia does about a quarter of its business, revenue fell 6.1 percent as auto production dropped 8.1 percent.

Faurecia reiterated full-year 2017 goals including cash flow above 350 million euros, 7 percent sales growth and an operating margin between 6.6 percent and 7 percent.

Reporting by Laurence Frost; editing by Michel Rose

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below