Posted 2/18/2019 10:37:48 PM
NANTERRE (FRANCE), 18 Feb. (EUROPA PRESS) –
The manufacturer of components for automobiles Faurecia closed last year with a net profit of 700.8 million euros, a 16.9% increase compared to 599.4 million euros accounted for in 2017, according to data published by the company .
The company explained that the good results recorded last year were achieved despite the “winds against” experienced in the second half, with a drop in global vehicle production, mainly in Western Europe, due to the impact of the entry into strength of the WLTP cycle and in China, which was affected by the economic slowdown.
In the whole of 2018, the French multinational accounted for a turnover of 17,524 million euros, representing a rise of 7% compared to revenues of 16,962 million euros the previous year.
In addition, the operating profit of Faurecia stood at 1,273 million euros during 2018, 10% more than the 1,157 million euros of last year, with an operating margin of 7.3% (6.8% in 2017).
The CEO of the gala firm, Patrick Koller, stressed that Faurecia managed “once again” to meet all of its annual financial targets, “despite the fact that the environment worsened in the second half of the year.”
By divisions, the area of Asientos of the corporation improved 4.3% its turnover during 2018, to 7.438 million euros, while Interiors added 1.9% more, to 5.471 million euros.
For its part, the Clean Mobility division of the component manufacturer accounted for a turnover of 4,615 million euros in the whole of last year, which translates into an increase of 3.4% over the previous year.
Looking ahead to the year that has just begun, Faurecia said that its turnover will rise above the evolution of global car production, thanks to the consolidation of Clarion in its business, while also foreseeing an increase in operating profit and that its margin is “at least” 7%.