Faurecia confident for 2019

Worldwide
Published:  19 February, 2019

The French automotive seating and components supplier expects to outperform the market in 2019 despite global car production forecast to fall.

For full 2018, Faurecia’s operating income totalled €1.27 billion. Operating margin increased 50 basis points to 7.3% of sales and dividend was raised +14% to €1.25. Patrick Koller, CEO, Faurecia, expects the supplier to “outperform the market and maintain strong profitability and cash generation” in 2019, but warned that “in a very uncertain environment, we assume that automotive production will be slightly negative”. The Company forecasts an increase in its operating income and an operating margin of at least +7%.

Faurecia’s acquisition of Clarion, a Japanese car navigation system maker, Clarion, is expected to be completed in the first quarter of 2019.

Source: Reuters