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Faurecia’s First-Half Profit Climbs 10%
French auto supplier Faurecia SA reports its net profit in the first half of 2018 climbed 10% to €342 million ($401 million) in January-June.
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French auto supplier Faurecia SA reports its net profit in the first half of 2018 climbed 10% to €342 million ($401 million).
Revenue through the period grew by a restated 5% to €9 billion ($10.6 billion). The company’s three largest markets by sales are Europe (53%), North America (25%) and Asia (17%). Its three largest customers are Volkswagen (18%), Ford (17%), a PSA (15%).
Operating income for the company, which is 46% owned by PSA Group, climbed 11% to €647 million ($759 million) worldwide in January-June. Operating results through the two quarters gained 13% each in Europe and Asia, and 2% in North America.
Compared with its forecast in February, Faurecia now expects its sales this year will rise at least 8% (up one percentage point). The company also predicts slight gains in its full-year operating margin and earnings per share.
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