October 12, 2017 / 4:34 PM / 4 months ago

Faurecia sales rise 7.3 percent on strong Asia performance

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