Mexican Media Brands
Faurecia Hikes Outlook as Income Surges
Faurecia SA’s net income in the first half of 2016 surged 56% to €245 million ($269 million) as sales rose less than 1% to €9.5 billion ($10.4 billion).
The French supplier’s operating income for the period climbed 28% to €490 million.
#economics
Share
Faurecia SA’s net income in the first half of 2016 surged 56% to €245 million ($269 million) as sales rose less than 1% to €9.5 billion ($10.4 billion).
The French supplier’s operating income for the period climbed 28% to €490 million. Net cash flow fell 34% to €245 million. The company, which is 47% owned by PSA Group, notes that its sales to Renault SA and Ford grew 18% and 11%, respectively, in January-June.
By region, Faurecia’s sales in the first half of the year gained 6% to €3.8 billion ($4.2 billion) in Europe but dropped 4% to €2.1 billion ($2.3 billion) in the U.S. and fell 4% to €1.1 billion ($1.3 billion) in Asia.
Citing “very significant” growth in new orders, the company raised its full-year outlook. It now expects an operating margin on total sales will be at least 5%, up from the previous guidance of 4.6%-5%. Sales growth and net cash flow forecasts are unchanged at 1% and €300 million ($330 million), respectively.
RELATED CONTENT
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.