Finance / 23/04/2013
Faurecia continues on strong growth path outside Europe
Faurecia consolidated sales totalled €4,369.5 million for the first quarter of 2013, up 1.7%. This figure includes sales from the acquisition of the Ford plant in Saline, Michigan (USA) consolidated since June 1, 2012 (€122.4 million sales), sales for Plastal France, consolidated since August 30, 2012 (€14.7 million sales), sales for Sora Composites France, consolidated since July 1, 2012 (€11.5 million) for Borgers and Mecaplast (France/Czech Republic) consolidated since March 1, 2012 for an amount of €8.6 million.
Sales significantly outperformed the market in all growth regions:
(Change is shown on a like-for-like basis, Source of production figures = IHS Automotive, March 2013).
- Europe: product sales fell significantly, down by 9.9% to €1,875.9 million, in-line with the fall of light vehicle production estimated at 9% in the same period. Product sales in Europe scaled back from 61% to 55% of total.
- North America: product sales stood at €963.9 million, up 6.5% whereas light vehicle production was stable over the quarter. Growth was driven by the strong growth in the interior systems business and automotive seating. Sales to Nissan grew 55% and to Ford by 14%. Product sales in North America grew from 24% to 28% of the group’s total.
- Asia: demonstrated continued strong growth of 19.6% to €371.7 million with an increase of 24.2% in China. Over the period light vehicle production rose 3% in Asia and 14% in China. Sales to Ford more than doubled (+106%) while those to GM increased 47%. Product sales in Asia grew from 9% to 11% of the total.
- South America: product sales grew 21.0%, to €157.6 million. At the same time, light vehicle production grew by +6%. Sales to Ford expanded by 59% and those to PSA by 61%.
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