During the first half of 2016, Faurecia showed a strong improvement of its profitability.
- Total sales of €9.53 billion; organic1 growth of 3.4%;
- Operating income of €490 million, up 28%, representing 5.1% of total sales up 110bp
- (or 6.2% of value added sales up 130bp);
- Net income of €245 million, up 56%;
- Net cash flow of €205 million
Upgrade of 2016 guidance
- Operating margin (on total sales) of minimum 5.0% (previously 4.6% to 5.0%);
- Net cash flow minimum of €300 million (previously around €300 million).
Patrick Koller, CEO of Faurecia, declared: "Faurecia’s robust profitability in the first half of 2016 of 5.1% operating margin, an increase of 110bp, was driven by a strong organic growth in Europe, clearly outperforming automotive production, a profitability breakthrough in North America and robust profitability in Asia. Based on an encouraging first half and an effective execution, we are upgrading our 2016 guidance. Our order intake momentum is very significant indicating solid future growth. The expected closing this week of the Exteriors disposal will allow us to further focus on our two strategic priorities: Sustainable mobility and Cockpit of the future. I would like to take this opportunity to thank all Faurecians for their contribution to this excellent performance."