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Faurecia announces 2018 half year results

Auto News - Published on Mon, 23 Jul 2018

Image Source: faurecia.com
Faurecia announces a double-digit growth in sales and operating income in the first half of 2018. All three Business Groups posted solid sales growth, above Q1. Sales growth significantly outperformed local automotive production growth in all regions. Patrick KOLLER, CEO of Faurecia, said “We delivered again a very robust performance in the first half of the year, ahead of our roadmap. Our sales grew by double-digits, both in the second quarter and in the first half, and our profitability continued to improve with an operating margin up 40 basis points, at 7.2%. Taking into account this strong performance, we upgrade our guidance for the year and fully confirm our 2020 financial targets as presented at our recent Capital Markets Day.”

DOUBLE-DIGIT GROWTH IN SALES AND OPERATING INCOME IN H1
Strong sales growth of 10.9%, 910bps above worldwide automotive production growth
Operating income up 11.1% and operating margin up 40bps to 7.2% of sales
Net income, Group share up 10.2%
Net cash flow up 17.3%

HeadingH1 2017H1 2018Change
Sales8545.28991.310.90%
Operating income582.7647.211.10%
as % of sales6.80%7.20%+40bps
Net income, Group share310.434210.20%
Net cash flow210.524717.30%
Net debt at the end of the period413.8465.212.40%
 

In EUR '000

UPGRADED FULL-YEAR GUIDANCE
FY 2018 sales growth of at least +8% (at constant currencies) or at least 600bps above worldwide automotive production growth
FY 2018 operating margin of at least 7.2% of sales
FY 2018 net cash flow above €500 million

Source :

Posted By : Rabi Wangkhem on Mon, 23 Jul 2018
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