Faurecia has posted third-quarter sales up 4.3% to EUR4.12bn (US$4.6bn), with nine-month sales of EUR13.2bn.
“Since the beginning of the year, our sales posted a solid outperformance versus automotive production of close to 300 basis points,” said Faurecia CEO, Patrick Koller. “Despite the market degradation throughout the year, our resilience and agility allow us to fully confirm our guidance for the year. In addition, we are on track for a record year of order intake in 2019.
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“Despite current market conditions, we maintain the pace of our strategic transformation. A few days ago, we announced our project to acquire the remaining 50% stake of the SAS joint venture. This acquisition would expand our systems integration offer to cover all interior modules and strengthen our Just in Time plant network.
“During the quarter, we have also announced a significant cost reduction plan for Clarion, in line with our profitable growth roadmap for our new Business Group, Faurecia Clarion Electronics.
“We look forward to sharing our strategy update and medium-term perspectives at our Capital Markets Day to be held in Paris on November 26.”
