In the first six months of 2019, Faurecia overall revenues amounted to over 8.9 billion euros, slightly less (just -0.2%) compared to the same period of the previous year. Likewise, their operating profit (which reached 645 million euros) just decreased by 0.4%, on annual basis. The French group, specialised in the manufacturing of car components, considers their financial performance to be “stable”. In a slowdown context, which has been affecting the automotive industry, Faurecia turned out to play better than Lear did.
Seats
As regards the Seating division, the French group announced a negative performance, remarkably affected by the end of two production projects: the former, with Daimler, in the United States, the latter, with Berlingo, in Europe. That was a double blow for the company, which lost up to 218 million euros. The Seating unit, which accounts for 41% of Faurecia global turnover, decreased by 3.7% overall, on annual basis. Yet, in the first six-month-period of 2019, the company operating profit increased by 6%.
Comment
“The first six months of the year proved to be more difficult than expected – remarked Patrick Koller, Faurecia chief executive officer – mostly owing to a downturn in production in China. In such context, we managed to show, once again, our ability to achieve outstandingly resilient performances”.
