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
-
Fuel Economy Gains in July
What you’re looking at here is a sales-weighted fuel economy chart (the numbers in the white boxes represent miles per gallon) that was put together by two diligent researchers, Michael Sivak and Brandon Schoettle, of the University of Michigan Transportation Research Institute.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
All About the 2018 Honda Accord
The common wisdom seems to be that midsize cars have pretty much had it in the U.S. new car market.