Press releases

Faurecia, a company of the group FORVIA, the global 7th largest automotive supplier, continues to implement its decarbonization roadmap by signing a ten-year Power Purchase Agreement (PPA) with Renewable Power Capital.

Following an exclusive negotiations phase, Faurecia, a FORVIA Group company, and Cummins have signed a Share and Asset Purchase Agreement under which Faurecia will sell a part of its commercial vehicle exhaust aftertreatment business in Europe and the US to Cummins for an enterprise value of 142EUR million after final technical adjustments.

With the acquisition by STELLANTIS of a stake in SYMBIO (a joint venture between Faurecia and MICHELIN), confirmed this morning in a joint press release by the three partners, Faurecia will receive a total amount of €150 million which will contribute to its €1 billion asset disposal program by the end of 2023.

Faurecia, a company of the FORVIA group, Michelin and Stellantis announce today the signing of a binding agreement for Stellantis to acquire 33.3% stake in Symbio, a leader in zero-emission hydrogen mobility. Faurecia and Michelin will remain shareholders with 33.3% holding each.

Sales growth of +29% in the quarter to €6.6bn driven by organic growth of +17.6%

•Faurecia, a company of the FORVIA Group, will attend Hannover Messe 2023, on April 17 - 21, 2023 in Hannover, Germany alongside Symbio, its joint-venture created with Michelin.

•Two breakthrough hydrogen solutions for Automotive and Infrastructure in the European Market will be showcased:

•Containerized Hydrogen Storage: a lightweight storage solution aiming at drastically lowering the cost and CO2 footprint of transporting hydrogen, by storing c.1 ton of H2 in the equivalent of a 40 feet container.

•XL Gaseous Storage: a new 700 bar tank for truck applications which increases hy-drogen capacity by 80% vs current 350 bar solution and provides new vehicle integration opportunities.

- More than 33,500 square-meter facility will employ approximately 1,500 people
- Bioclimatic design principles optimize energy efficiency and support Group’s commitment to achieving carbon neutrality by 2045
- Location capitalizes on customer proximity and university relationships

The 2022 Universal Registration Document of Faurecia S.E. was filed with the French Financial Markets Authority (Autorité des marchés financiers) on February 28th, 2023

Our achievements: growth, resilience, cash generation & deleveraging
- Growth: sales of €25.5BN, +63% on a reported basis and +17% on an organic basis
- Resilience: operating margin of 5.0% in H2 2022 and 4.4% in FY 2022
- Cash generation: strong net cash flow of €471M
- Deleveraging: net debt/adj. EBITDA ratio at 2.6x at year-end vs. 3.1x at june 30