Faurecia sales, earnings up in first half

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Faurecia CEO Patrick Koller

French automotive supplier Faurecia saw sales up 8.5% to €8.6bn in the first half of 2017, the company said.

Faurecia added that it had increased operating income 20% compared with the first half of 2016 to €587m and operating margin grew by 0.6% to 6.8% of sales.

The sales figures exclude sales of catalytic converters.

The firm said it is "uniquely positioned to develop full interiors for the connected, versatile and protective cockpit of the future." It has signed an agreement for "the gradual acquisition of Parrot Automotive France, which bought 50.1% of Jiangxi Coagent Electronics China," which Faurecia said, "give it a strong global offer in hardware and software for connectivity and infotainment."

Faurecia said that seating sales, which account for 42% of the total in the half, were up 8,9% to €3.6bn compared with €3.3bn in the 2016 half. The largest growth regions were South America, up 37% and North America by 17%.

Faurecia said that its interiors business saw sales grow 8.7% compared with the first half of 2016. In the first half of 2016, the firm recorded sales of €2.1bn, this number rose to €2.4bn in the 2017 first half.

In the first half of 2017, Europe accounted for 50% of sales; North America 28%, Asia 16% and South Americas 5%.

Faurecia added that if global automotive production continues to grow at 2% in 2017, then it will see sales grow 7% over the whole year, compared with 2016, and it will have an operating margin of between 6.6% and 7%.

CEO, Patrick Koller said: "We have accelerated in our strategic priorities, sustainable mobility, smart life on board and Asia, through the establishment of important partnerships and commercial success."

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