Faurecia 2018 net income up 17% to EUR701m

Faurecia has posted 2018 net income up 17% to EUR701m (US$793m) with sales rising 7% to EUR17.5bn.

The 2016-2018 period saw three-year rolling order intake of EUR63bn and Faurecia predicts 2019 full-year sales growth at constant currencies, should outperform worldwide automotive production by 150 to 350bps (excluding Clarion consolidation).

FY 2019 operating income should increase in value and operating margin should be at least 7% (including Clarion consolidation as from 1 April).

"In 2018, we once again met all our financial targets for the year, despite an environment that worsened in the second half," said Faurecia CEO, Patrick Koller. "This demonstrates the agility and resilience of Faurecia's business model.

"In addition, we have recorded another year of strong order intake, including a significant contribution from our New Value Spaces, ensuring our future profitable growth.

"In 2019, in a very uncertain environment, we assume automotive production will be slightly negative. In this context, we are committed to further demonstrate the resilience of Faurecia.

"We will outperform the market and maintain strong profitability and cash generation. At the same time, we will continue to deploy our Cockpit of the Future and Sustainable Mobility strategy.

"The acquisition of Clarion, which should be closed during the first quarter, will enable us to become a global leader in cockpit electronic systems."

Show the press release

http://www.faurecia.com/en/newsroom/2018-annual-results-0

Original source: http://www.faurecia.com/en/newsroom/2018-annual-results-0

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